“Wow that's surprising, will ETH continue to climb higher?”
After being in an upward consolidation phase for a long time, the price of the second largest cryptocurrency Ethereum (ETH) finally managed to break through $3,135 early this morning from $2,910 on February 24, 2024.
Pleased to note that ETH which has been upgraded as Proof-of-Stake (PoS) has been climbing gradually plus there is a prospect for more gains as the price increases continue to erupt.
Following the momentum of buyers has pushed ETH to reach over $3,000, there are those who believe that the price may continue to rise higher to target $3,200 which is the most anticipated level.
In a very bullish case it was also revealed that ETH could climb to a peak price of $3,500 which was last tested on April 5, 2022.
However, if the price of ETH fails to maintain its position above the $3,000 level then the digital asset can slip back below $2,905 or more which can make investors feel nervous.
A prolonged decline could also cause the price of ETH to crash to retest $2,572, so here it can be seen that a price close at that level would invalidate the bullish thesis.
As of this writing, the price of ETH has jumped by 2.96% to $3,103 in the last 24 hours with a market cap of $372 billion and has recorded a 7.29% rise over the past week.
