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Crypto News: The Ethereum price faced challenges in maintaining levels above the US$4,000 resistance area, following a similar downward trend as Bitcoin. ETH experienced a decline below crucial support levels, signaling a shift to a short-term bearish trend. Currently, a significant bearish trend line is taking shape. Ethereum is currently trading at US$3759, with a market capitalization of US$449.44 billion and a trading volume of US$32.52 billion.
EigenLayer, a prominent Ethereum restocking initiative, has released a roadmap detailing its main net launch strategy. In a recent blog post, Eigen Labs emphasized the importance of a secure and high-performance launch. The project is implementing a phased approach that has already commenced and will continue over the coming weeks. Notably, Andreessen Horowitz, a venture capital firm, recently injected US$100 million into Eigen Labs, the driving force behind EigenLayer. The project's asset value has exceeded US$10 billion, underscoring its significant growth and potential in the cryptocurrency space.
Prominent cryptocurrency analysts foresee the Ethereum Dencun upgrade and the potential authorization of an Ethereum Exchange-Traded Fund (ETH ETF) as pivotal drivers for the forthcoming bullish market. The growing investor interest in Ethereum (ETH) mirrors positive sentiments towards the overall cryptocurrency landscape, with expectations of a surge in altcoin activity throughout 2024.
This week, Ethereum surged to US$4,000. Despite this uptick, sellers are showing interest in driving the cryptocurrency into a pullback phase. The present support level is at US$3,733 and the resistance level is at US$4095. The relative strength index value is 38.18. After remaining in an uptrend for over a month, a pullback should not come as a surprise. Looking forward, Ethereum's overall trend remains bullish even if it retraces to the key support level. A healthy pullback may be necessary before attempting to reach new highs and challenge the all-time peak at US$4,868.
Ethereum's price forecast for 2025, according to ambcrypto, is expected to vary from US$3246.77 to US$4870.16, with an average price of US$4058.47. The price of Ethereum in 2030 is expected to vary between US$13511.70 to US$20267.55, with an average of about US$16889.63.
Coincodex predicts the Ethereum price will fluctuate between US$3,702.56 and US$6,739.49 in the upcoming year. If Ethereum hits the higher value objective for 2025, it will rise by 80.15% and reach US$6,739.49.
According to Cryptonews, The price of ETH is expected to reach a new all-time high of US$6,600 in 2025, a low of US$3,400, and an average of US$4,200. Ethereum prices reached highs of US$9,600, lows of US$8,800, and an average of US$9,000 in 2030.
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