The second largest cryptocurrency in terms of market capital has not had the best few months. Ethereum The $3,000 threshold is expected to be reached in 2024. The more pressing question, however, is when. As with much of crypto, the token is struggling to deal with volatility.
The arrival of the historic Spot Ethereum ETFs This year. After the huge success of Bitcoin, this is the second US-based crypto ETF. These products were also underwhelming but could have a massive impact on the asset.
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What is the current value of ETH at $3,000? Why it is still likely in 2024
Ethereum dominates the crypto-market. It is clear that Ethereum will remain at the top of the crypto market for some time to come. The year 2024, however, has been filled with both notable highs and lows.
During the month of August, there was definitely more volatility. According to, over the last thirty days the crypto market has declined by more than 23,4%. CoinMarketCap. The price of the cryptocurrency has risen above $2570 after a drop of nearly 2% in just seven days.
Ethereum appears to be on course for a surge of $3,000 by 2024 despite its struggles, but at what time? That depends on several technical factors. It does seem like the project could be a little slow to develop.
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This $2700 barrier is the biggest obstacle in ETH’s path. If it’s able to surpass that level, then $3k is not far away. Crypto analyst Poseidon Taken to X, formerly Twitter, to discuss the asset’s upward potential.
“Followed the plan, and my longs filled sub $25000. The price tested daily demand, cleaned equal lows, and reclaimed back above it. Still too early to talk, but everything is looking good to send it above $3k,” They said it in the blog.
Fellow analyst Elja Boom Similar sentiments were expressed. The price was also noted. “keeps trading within a certain range.” It’s called Calling “the boring phase,” It did mention that it would be poised for a breakout in the Q4 this year. ETH might therefore aim for a $3,000 surge in October.
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Source: watcher.guru