With Ethereum experiencing a notable rally over the last month, is $3,000 ETh still a possibility at some point in 2024? The second-largest cryptocurrency by market cap is currently maintaining a position above $2,6000. Moreover, all eyes are on where it could go before the end of the year.
ETH STaking recently reached an all-time high in Q3, showing that even more holders are seeking hields. Moreover, several reports have highlighted points of optimism for the cryptocurrency. But is it enough to set a new high for the year over the next three months?
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Ethereum to $3,000: Can ETH Sprout a Surge to Pass the Milestone to End the Year?
Ethereum has been the victim of a rather underwhelming year. The crypto market has seemingly increased in exposure and prevalence, but that has not yet reached ETH, as it has not experienced the same success as Bitcoin. Yet, there is some hope considering the recent surge in value it has enjoyed.
Throughout the last month, Ethereum has increased more than 10.50%, according to CoinMarketCap. Moreover, those gains extend to the last seven days, where it is also up more than 9.7%. Now, all eyes are on the $2,7000 resistance zone. If it can conquer that, the crypto could have a noticeable surge in store.
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However, can Ethereum still reach the coveted $3,000 mark at some point in 2024? That question relies entirely on ETH bulls. When the asset had been stuck at the $2,300 level, increased buying had it increased beyond the support. That set its course for its current position.
Right now, the asset can confirm the completion of a Head and Shoulder neckline pattern that occurred. From there, it would be eyeing a trip above $2,8000. That point is a key matter for the asset. November and December would be tasked with propelling ETH beyond a resistance level that stands in the way of $3,000. Although it’s not impossible, it would certainly be difficult.