{"id":255806,"date":"2024-02-28T18:35:33","date_gmt":"2024-02-28T13:05:33","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=255806"},"modified":"2024-02-28T18:35:33","modified_gmt":"2024-02-28T13:05:33","slug":"will-eth-keep-pumping-to-4000-or-pullback-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-eth-keep-pumping-to-4000-or-pullback-crypto-news\/","title":{"rendered":"Will ETH Keep Pumping To $4,000 Or Pullback? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Ethereum price forecast: Ether has in the last 20 days surged by almost 40% from $2,416 to $3,344, outperforming\u00a0Bitcoin\u2019s<\/span><\/a>\u00a035% increase over the same period to $59,354 on Wednesday, February 28.<\/p>\n

Although market participants anticipated a rally ahead of the\u00a0Bitcoin halving<\/span><\/a>\u00a0due in April, it seems to have come early. Unlike other bull markets, cryptos are trading in the era of ETFs.<\/p>\n

<\/p>\n

Other than the retracement in January caused by a sell-the-news action, the outlook of the market has been bullish, especially for Ethereum. Following the approval of\u00a0Bitcoin ETFs<\/span><\/a>, optimism for ETH ETFs has been growing.<\/p>\n

Ethereum Price Forecast: Why Is ETH Rally Unstoppable?<\/h2>\n

Ethereum price action this week can be attributed to various factors including the\u00a0Dencun upgrade<\/span><\/a>\u00a0\u2014 expected to launch on March 13 on the mainnnet, the spot ETF, and a strong bullish case exhibited by Bitcoin.<\/p>\n

The Dencun upgrade will be a game changer for the Ethereum ecosystem starting with a larger block size from 12.5 MB to 25 MB, cheaper transactions for layer protocols, and a better developer experience.<\/p>\n

For this reason and more, the upgrade could be a market mover which may explain the increasing risk appetite among investors. Following last Monday\u2019s swing above $3,000, confidence saw many people buy ETH, in turn, building the momentum likely to push\u00a0Ethereum price<\/span><\/a>\u00a0to $3,600 this week.<\/p>\n

<\/p>\n

ETH\u2019s technical structure remains steady based on the position of the Relative Strength Index (RSI) at 78. Its persistent climb implies that buyers are in control and the uptrend is far from over.<\/p>\n

The Money Flow Index (MFI), an indicator that tracks the volume of money flowing in and out of Ethereum is in sync with the rising price. Unless people decide to sell for profit, Ethereum is poised to keep pumping ahead of the Dencun upgrade.<\/p>\n

Recommended:<\/strong> Ethereum Price: Here\u2019s Why ETH Is Bullish This Week<\/a><\/p>\n

\"Ethereum
Ethereum price forecast chart | Tradingview<\/figcaption><\/figure>\n

According to\u00a0IntoThe Block\u2019s<\/span><\/a>\u00a0blockchain analytics, ETH faces little resistance up to $3,800 from its current level. The second-ranked crypto asset has strong support, with the largest accumulation zone ranging from $2,803 to $2,903. Around 1.6 million holders bought about 4 million ETH at an average cost of $2,860.<\/p>\n

\"Ethereum\"Ethereum
Ethereum IOMAP chart | Tradingview<\/figcaption><\/figure>\n

<\/p>\n

So far more than 85% of the total Ethereum supply, approximately $27 billion is in profit or in the money. The amount of supply in loss stands at 14.4% worth around $4.8 billion. 3,400 ETH worth roughly $11.3 million, making up 0.03% of the supply, is locked in staking contracts.<\/p>\n

From the above data, it can be established that the majority of ETH holders are in profit. Their adamance to sell speaks volumes about the long-term bullish outlook.<\/p>\n

Ethereum\u2019s decentralized finance (DeFi) sector has also been growing in tandem with the price surge that\u00a0Defi Llama<\/span><\/a>\u00a0shows a total value locked of $52.4 billion. As this value increases, selling pressure will reduce, allowing Ethereum price to keep rallying.<\/p>\n

<\/p>\n

Related Articles<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"Pros<\/div>\n
Pros and Cons of Investing in Cryptocurrency <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Things Investors Should Know About BlockDAG <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"Best<\/div>\n
Best 3 MemeCoins This Week <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum price forecast: Ether has in the last 20 days surged by almost 40% from $2,416 to $3,344, outperforming\u00a0Bitcoin\u2019s\u00a035% increase over the same period to $59,354 on Wednesday, February 28. Although market participants anticipated a rally ahead of the\u00a0Bitcoin halving\u00a0due in April, it seems to have come early. Unlike other bull markets, cryptos are trading […]<\/p>\n","protected":false},"author":2,"featured_media":255807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-255806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=255806"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255806\/revisions"}],"predecessor-version":[{"id":255811,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255806\/revisions\/255811"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/255807"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=255806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=255806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=255806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}