Ethereum shows signs of potential growth towards a new all-time high, supported by current market trends and an increase in transactions on the platform.
Current Ethereum Market Situation
Currently, the price of Ethereum (ETH) is $3,984, with a slight gain of 4.51% over the day. This is noted against the backdrop of an increase in the total number of transactions on the platform, which hit an all-time high of 11.9 million for the week.
Support and Resistance Levels Analysis
One of the key factors for growth is the breakout of the $4,000 level, which has been rejected for four consecutive attempts. If Ethereum can flip this level into a support zone, it will create conditions for reaching the next target of $5,000. A counter-support level in the range of $3,500 and $3,600 also limits potential price drops.
Future of Ethereum and Increasing Institutional Interest
Overall interest in Ethereum is rising from both retail and institutional investors. Forecasts from some experts suggest that Ethereum could reach $16,000 due to increasing interest in tokenization and improvements in the ecosystem. In particular, major purchases are highlighted, indicating strong confidence from institutional investors.
The current situation in the Ethereum market, coupled with rising investor interest, indicates a potential breakthrough to new all-time highs. Attention is focused on the $4,000 resistance level, the breakthrough of which will be a key factor for further growth.
