April

Time

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ether-surges-beyond-3000-for-the-first-time-since-april-2022/" data-wpel-link="internal">Ether Surges Beyond $3,000 for the First Time Since April 2022</a> 
Ether, the largest altcoin by market value, had been lagging behind <a href="https://en.coin-turk.com/fidelity-joins-the-queue-for-spot-bitcoin-etf/" data-wpel-link="internal">Bitcoin</a>‘s performance for some time but is now on the rise. At the time of writing, even though the price had surpassed $3,000 and then retreated by $15 due to rapid profit-taking, it still marked an important achievement. 
<h2 style="text-align: justify" id="why-is-eth-price-rising">Why Is ETH Price Rising?</h2> 
ETH price has risen above $3,000 for the first time since April 26, 2022, after 665 days. Testing this psychological resistance level, a key region, was significant. The market’s reaction to this price level and whether it can stay above $2,900 will be crucial for the future of the price. This year, the ETH price needs to rise rapidly with Dencun, ETF decisions, and significant developments unique to cryptocurrency. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-317246 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-20_16-42-09-1.png" alt="" width="1814" height="836"> 
For most investors, the ETH price increase is significant because the parabolic rally here will also pave the way for strong rises in other altcoins. If BTC consolidates at its current level while ETH continues to rise, capital will flow towards altcoins including ETH, and we will see cryptocurrencies multiplying their price by 2-3 times again. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-317247 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ETHUSDT_2024-02-20_16-51-38.png" alt="" width="1815" height="836"> 
The above ETHBTC pair chart gives us a significant idea about the growth area for the altcoin king. The 0.057BTC region has been surpassed and the target is now set at 0.058BTC. The next major resistance is at 0.06BTC, and if the price reaches this key resistance while BTC is at this level, it needs to hit $3,162. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ether-surges-beyond-3000-for-the-first-time-since-april-2022/" data-wpel-link="internal">Ether Surges Beyond $3,000 for the First Time Since April 2022</a></h5>

Ether Surges Beyond $3,000 for the First Time Since April 2022

Table of Contents

COINTURK NEWS

Other articles published on Feb 20, 2024

$6.9 Trillion Tsunami Headed for Crypto Market — How High Could It Push This Memecoin?

Binance suspends Monero withdrawals a day before delisting XMR

AI in Financial Services: A Transformative Force Amid Regulatory Evolution

Altcoins Sink Into “Danger Zone”, Is A Correction Incoming?

BLUR Token Price Movement Gains Investor Attention

$10 Trillion Market Cap: Crypto’s Unprecedented Potential

Join our free newsletter for daily crypto updates!