Ethereum continues to demonstrate positive results in the market, driven by institutional investments and the new Giga Era roadmap.
General Price Data for Ethereum
As of now, Ethereum is priced at $2,567.41, up 2.31% over the last 24 hours and nearly 4.73% over the past week. Its market capitalization has reached $309.72 billion, while the trading volume in the last 24 hours surged by 75.74% to $15.45 billion, indicating stronger participation from both retail and institutional investors.
The Future of Ethereum with Giga Era
The Ethereum Foundation introduced the ‘Giga Era’ roadmap aimed at enhancing the network's scalability and staking mechanism. The Giga Era is set to leverage zk-rollups to achieve an impressive 10 million transactions per second.
Current Trends and Market Outlook
Technically speaking, ETH is trading above the 20-period SMA and middle Bollinger Band, indicating bullish short-term momentum. The RSI at 56.46 shows there’s room for upward movement before entering overbought territory. Important resistance levels are near $2,610.9, while support is located at $2,531 and $2,409.
Positive supply metrics and the new Giga Era strategy foster confidence in Ethereum, which could be the foundation for its long-term growth.
