Ethereum (ETH) Price All Set To Hit New ATH In March – Here’s Why
The post Ethereum (ETH) Price All Set To Hit New ATH In March – Here’s Why appeared first on Coinpedia Fintech News
As the market awaits employment data from the United States later today, Ethereum (ETH), the second largest crypto asset, suggests further growth in the near term. Up more than 65 percent in the past four weeks to trade slightly above $3,900 on Friday during the early London session, Ethereum price aims to retest its all-time high (ATH) similar to Bitcoin in the coming weeks.
Ethereum’s Fundamental Positions and Market CheckEthereum network remains the undisputed benchmark for decentralized smart contracts for mainstream web3 projects despite the notable competition from other layer one (L1) projects like Solana (SOL), and BSC. As of this writing, the Ethereum network had the largest stablecoins supply and a total value locked (TVL) of about $55 billion.
The Ethereum network is preparing to activate the Dencun upgrade on the mainnet on March 13, 2024. The Dencun upgrade will entail several changes, but the most notable one will lower the transaction fees for Layer Two (L2).
Meanwhile, the Ethereum network has enjoyed a bullish outlook due to the heightened speculation on the possible approval of several spot Ether ETFs in the United States in the coming months.
Analyst Take on ETH Price Action$ETH/ $BTC is still moving inside the Descending Channel on the 3-day timeframe chart.
As the multi-year Trendline Weakens, Expecting a Breakout soon. 