Ethereum is significantly rising, surpassing $2,880, and aims to reach $3K. Following the 2024 US elections, the cryptocurrency market has revitalized.
Recent Developments in Ethereum Market
Ethereum increased by 3.55% over the past 24 hours, trading at $2,914. Throughout the day it reached a low of $2,781 and a high of $2,954. During this period, liquidations of $59.96 million were observed. A hefty 16% increase was noted over the past week.
Financial Indicators and Reports
The Ethereum Foundation released its 2024 report, showing treasury assets of $970.2 million, with 99.45% being Ethereum, accounting for 0.26% of the total supply.
Ethereum Forecast and Technical Analysis
The current Ethereum rally shows the potential to reach $3K upon breaching the $2,950 resistance. Support is at $2.8K, and failure to sustain the rise might bring the price down to $2,740. Technical indicators like MACD and CMF indicate positive signals, while the current RSI shows an overbought territory.
Ethereum is at a crucial juncture with potential for further growth. However, attention should be paid to market conditions and technical indicators for informed decisions.
