The post Ethereum attempts to break the $3,000 wall: price analysis appeared on BitcoinEthereumNews.com.

In this article we take a look at the general outlook of Ethereum, conducting a detailed analysis of the price and observing some on-chain indicators. Yesterday, ETH tried in vain to break through the $3,000 wall, which is currently acting as the main resistance, being rejected back to the current price of $2,908. However, Ethereum remains the most fit in the crypto market, outperforming even Bitcoin. On the on-chain front, data shows a long-standing and strong network, supported by an increase in the number of validators and coins locked in staking, as well as a high average trading volume. All the details below. Ethereum leads FOMO in the crypto markets: ETH price analysis shows the asset’s willingness to break the $3,000 resistance In this beginning of the week, decidedly quiet, due to yesterday’s closure of the US markets for President’s day holiday, crypto markets are led by Ethereum and its recent attempt to surpass the key price of 3,000 USD. While Bitcoin registered its local maximum on Thursday, February 15th, at a level of 52,816 USD, Ethereum showed more determination by reaching a new annual high of 2,984 USD yesterday, without however succeeding in closing at a round figure.  The price analysis shows a relative strength for ETH, which convincingly absorbs every dip and keeps market expectations high. Traders are optimistic about the future of ether and are betting on the positive outcome of the approval of the spot ETF in the USA for the second largest cryptocurrency by market capitalization, with several Fund Managers such as Franklin Templeton, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy and Hashdex that have already filed their requests with the Securities and Exchange Commission. If things were to go well, ETH could even approach $3,500, a level not seen since April…

---

Filed under: News - @ February 20, 2024 8:16 pm