Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-could-reach-5000-analyst-suggests/" data-wpel-link="internal">Ethereum Price Could Reach $5000, Analyst Suggests</a><br></p>
<p style="text-align: justify">According to popular <strong>cryptocurrency</strong> analyst Ali Martinez, the price of <strong><a href="https://coin-turk.com/1-ethereum-kac-dolar-detayli-eth-grafik-analizi-ve-onemli-seviyeler" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/ethereum-is-ready-to-take-the-center-stage-according-to-analysts/" data-wpel-link="internal">ETH</a>)</strong> could soon reach up to $5000. However, the altcoin must surpass the supply wall between $4522 and $4646. Utilizing data from IntoTheBlock, Ali Martinez noted that 600,000 addresses have purchased 1.63 million ETH in the mentioned region.</p> 
<h2 id="current-data-on-eth">Current Data on ETH</h2> 
<p style="text-align: justify">Therefore, some buyers trying to break even may now face resistance in the cryptocurrency. Experts suggest that this could slow down <a href="https://en.coin-turk.com/exploring-the-future-of-ethereum-vitaliks-insight-on-layer-2-solutions/" data-wpel-link="internal">Ethereum</a>‘s upward steps, although a rise to $5000 is anticipated. This could also result from insufficient margin balance to cover funding fees. According to data from HyblockCapital, if ETH reaches $4205, significant liquidations could occur. However, a successful close above this price could lead to further increases in value.</p> 
<p style="text-align: justify">The chart shared by the expert indicates that the <strong>altcoin</strong> may not face significant resistance below $4310. Moreover, if <strong>ETH</strong> surpasses $4860, the rise to $5000 could be much easier. Another measure that could give experts a clue about whether the altcoin’s rise will continue is the funding rate. The funding rate is the difference between the price of a perpetual contract and the spot price of a cryptocurrency. According to data from <strong>Santiment</strong>, Ethereum’s total funding rate was 0.068%. A positive funding rate implies that ETH is trading at a premium over its index value.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326690 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/santimnet.png" alt="" width="2048" height="693"></p> 
<h2 id="active-addresses-on-ethereum">Active Addresses on Ethereum</h2> 
<p style="text-align: justify">In addition to the rising <strong>ETH</strong> price, a high metric could indicate that short positions are aggressive. For this reason, ETH’s price movement could potentially signal an uptrend. At the time of writing, the number of active addresses on the Ethereum network was 537,000. This number was a significant increase from the count on March 10th. The increase in active addresses shows growing interest and confidence in ETH. While this also means the network is becoming healthier, investors may see it as a bullish signal.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-could-reach-5000-analyst-suggests/" data-wpel-link="internal">Ethereum Price Could Reach $5000, Analyst Suggests</a></h5>

Ethereum Price Could Reach $5000, Analyst Suggests

Table of Contents

COINTURK NEWS

Other articles published on Mar 13, 2024

FLOKITA $FLOKIA Token: Revolutionizing the Crypto World with Unmatched Potential

Worldcoin (WLD) Price Skyrockets As Nvidia AI Conference Approaches, New AI Crypto Project SCOTTY...

Woof! Why are Shiba Inu and Dogecoin Whales Buying New A.I Cryptocurrency Token?

Uniswap Token Reaches 26-Month High; Excitement Builds For This AI Altcoin Presale

Crypto Thief Behind $23.5 Million Bitrue Heist Resurfaces, Sells Millions in Ethereum

Sei Labs Innovates to Accelerate Ethereum and Reduce Costs

Join our free newsletter for daily crypto updates!