Is ETH price rally coming?
The price of Ethereum (ETH) is steadily increasing above the $2,800 support level. ETH seeks to achieve further gains and could rise towards the $3,000 resistance area.
ETH Price Today
Today, Ethereum (ETH) is priced at $2,923.85, with a trading volume of $26,780,615,521.21 over the last 24 hours. The price increased by 4.22% in the past day and 17.14%.
And it currently holds the second position in the entire cryptocurrency ecosystem. The circulating supply of Ethereum is valued at $336,828,511,391.49, with a market capitalization of 120,165,454 ETH.
Over the past 24 hours, Ethereum has seen an increase of $52.70. Ethereum has shown a positive upward trend in the last seven days, increasing 17.14%. This is a promising sign, indicating that it could be a good time to invest in Ethereum.
Over the last month, the price of Ethereum has increased by 13.73%, resulting in an average increase of $384.86 in its value. This sudden growth means that Ethereum could become a solid asset if it continues to rise.
Price Analysis & Trade Setup
Facing strong resistances in the current trading range. Also facing resistance of FIB Level 0.382. In case of rejection would fall or in case of breakout would pump from here
The current trade setup for ETH suggests that it is in an uptrend and has recently broken out of a sideways channel. It has also broken above the $2,750 resistance level, indicating potential gains of up to 6%.
It is recommended to place a stop loss at $2,690. The following resistance levels after $3,000 are $3.6K and $4K; the all-time high for ETH was $4,870 in November 2021.
ETH is expected to benefit from the upcoming launch of the Ethereum Spot ETF in May 2024.
The momentum for ETH is currently bullish, and the nearest support zone is $2,400, followed by $2,150. The closest resistance zone is $2,750, followed by the $2,960-$3,040 zone.
Also read :- BTC Surges over 19%! : Bitcoin Price Analysis
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NEWS
Ethereum Co-Founder Vitalik Buterin Introduces Innovative Protection In Opposition to Deepfake Threats.
Ethereum co-founder Vitalik Buterin has created a security framework to authenticate digital communications and protect against Deepfake technologies. The technique uses customized questions based on shared experiences and knowledge to build high barriers to identity theft and digital fraud. To provide strong protection against advanced deepfake attacks, the technique employs a layered defense system that incorporates secret codes, distress signals, and transaction verification via several channels.
Looks like@FixedFloat just got exploited for 1700 ETH!
After blockchain researchers noticed the fake cryptocurrency moves, the FixedFloat team verified that the platform had been compromised.
“We affirm that there was a hack and money theft,” it said in response to a post on X that disclosed the address of the exploiter.
The team said, “We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and investigate,” but offered no further information.
As of early Monday morning on February 19, there were no new posts or details on the FixedFloat X account. Furthermore, at the time of writing, the FixedFloat website was down and displayed the notice, “Technical work is underway, we will be back soon!”
Price Prediction
Cryptocurrency specialists examined the price swings of Ethereum in the early months of 2024 and expected that the average price of Ethereum in February 2024 would be around $2,855.20.
The minimum and maximum Ethereum prices over this time period are projected to be around $2,656.29 and $3,054.11, respectively.
In March 2024, experts predict that Ethereum’s price will range between $2,486.19 and $3,064.53, with an average of $2,775.36. The minimum trading price is projected to be about $2,486.19, with the maximum price potentially reaching $3,064.53.
