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<p dir="ltr">This week remains one of the most volatile for digital currencies, with Ethereum (ETH) prominently featured. Over the past 24 hours, the digital currency<a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">soared</a> as high as $3,687, marking a five-month high. The price has since cooled off, but CryptoQuant<a href="https://cryptoquant.com/insights/quicktake/67472ad4114d3c55e69d0de8-Ethereums-secondary-bull-run-has-begun?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=crypto-sunmoon" rel="noopener noreferrer nofollow">confirmed</a> that the coin has resumed the second leg of its bull run.</p>
<h2 id="ethereum-s-quest-for-ath">Ethereum's quest for ATH</h2>
<p dir="ltr">At the time of writing, the price of Ethereum has slipped back to $3,620 but with a 5.92% surge in 24 hours. As CryptoQuant Analyst crypto sunmoon pointed out, Ethereum generally hits a higher price mark in subsequent bull cycles than what it creates in the first.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">Ethereum's secondary bull run has begun“Ethereum's second bull cycle has always significantly surpassed the price created in the first bull cycle.” – By <a href="https://twitter.com/t0_god?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@t0_god</a>Read more 👇<a href="https://t.co/hqXd2ibPCK" rel="noopener noreferrer nofollow">https://t.co/hqXd2ibPCK</a> <a href="https://t.co/3nOCv3uQpA" rel="noopener noreferrer nofollow">pic.twitter.com/3nOCv3uQpA</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1861840366669877742?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 27, 2024</a>
</blockquote>
<p dir="ltr">Ethereum’s all-time high (ATH) is $4,891.70. Ethereum must grow by at least 26% at current prices to surpass this level. Herein lies the catch: Ethereum's price has not retested the $4,000 resistance level since March of this year.</p>
<p dir="ltr">At the time, the coin breached this level temporarily as the hype around<a href="https://u.today/spot-bitcoin-etfs-about-to-reach-major-milestone" rel="noopener noreferrer nofollow">spot Bitcoin ETF</a> approval triggered the first round of the bull cycle to BTC’s ATH. If Ethereum can surmount this psychologically important level at $4,000, reclaiming the ATH might be possible.</p>
<h2 id="fundamental-leaning">Fundamental leaning</h2>
<p dir="ltr">Ethereum has many competitors as a blockchain protocol, even among its layer-2 scaling solutions. With the evolution of new retail-focused economies on Solana and L2s, Ethereum needs to catch up on key performance checklists.</p>
<p dir="ltr">However, there are plans to upscale the Ethereum blockchain. Cofounder Vitalik Buterin has showcased plans to scale the protocol. This evolutionary plan was conveyed in a series of updates<a href="https://u.today/ethereums-buterin-focuses-on-addressing-centralization-risks-with-the-scourge" rel="noopener noreferrer nofollow">featuring</a> The Surge, The Scourge, The Verge and the Purge (not to forget about The Merge).</p>
<p dir="ltr">The<a href="https://u.today/vitalik-buterin-shares-10-year-visions-for-ethereum-network" rel="noopener noreferrer nofollow">ultimate goal</a> remains to enhance Ethereum validation nodes to be hosted on mobile phones. The requirement to become a validator will also be lowered, and transaction speed will be greatly optimized. With this mega checklist, ETH may gain more adoption, thus aiding its longer-term growth streak.</p> <a href="https://u.today/ethereum-eth-reclaims-five-month-high-but-theres-a-catch" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Ethereum (ETH) Reclaims Five Month-High, But There's a Catch

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