Ethereum (ETH) briefly regained the $3000 level, rising 3% daily and 1.8% 14-day. ETH, however, was unable hold onto the $3000 mark, dropping to $2998. This $3000 price level appears to be the first level of resistance for the second largest cryptocurrency in terms of market capitalization. ETH also fell by 2.6% compared to the previous month.
Also Read: Ethereum Struggles to Hold $3,000 Support: How Will ETH Perform in May?
Recent rally may be due to lower inflation numbers than anticipated. The US inflation rate increased in March by 0.3%, while experts expected it to rise 0.4%. Investor sentiment has improved. The Federal Reserve could continue its current policy of raising interest rates until the inflation rate reaches its target of 2%.
Is Ethereum (ETH), a cryptocurrency, going to reach a new peak in 2024?
ETH’s all-time peak was $4788 in November of 2021. The price of the asset, however, has declined by 38.5% since 2021.
The following is a list of ChangellyEthereum (ETH) may reach a peak price of $4.773.52 as early as 2024. A growth of 59.2% would be required to reach 4,773.52 in 2024. Despite this, ETH is still far from its all-time peak. If ETH can go above $4,500 it could surpass its former peak.
Also Read: Ethereum in Correction Phase: How Will ETH Conclude May?
Telegaon The price of ETH this year is a bit more optimistic. The platform predicts ETH’s maximum price to be $5,854.04, a new record. The platform predicts that ETH will reach a maximum price of $5,854.04, which would be a new all-time high.
It is possible that later this year, the US SEC could approve an Exchange Traded Fund for spot-ETH. The SEC may approve a spot ETH ETF, which could lead to a surge in ETH adoption and price.
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Source: watcher.guru