Behind the Scenes of the Upward Momentum in Ethereum (ETH) and Possible Price Targets!

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It is the second largest crypto currency in terms of market capitalization I ethereu (ETH), On October 29, it recorded a new all-time high (ATH), surpassing the $4,400 price levels. The fact that Ethereum has set a new price record has also raised price expectations in the market.

Behind the Scenes of the Upward Momentum

The scalability of the Ethereum blockchain, decentralized finance (DeFi) applications and NFT‘s becoming increasingly popular, and even gained greater importance. In this regard, Ethereum founder Vitalik Buterin has taken very important steps to make the network more scalable and reduce transaction fees. Updates to the Ethereum 2.0 process have also been successfully implemented so far. With the new ETH burning mechanism, Ethereum has become more deflationary. As a result, a number of positive developments, ETHit gave a bullish momentum to the.

ETH Price Targets

the 4,000 dollar serves as an important level of psychological support on behalf of Ethereum here. Ethereumthe fact that the 4.000 dollar has maintained its price levels and has not closed the day below this level is of critical importance for bullish movements in the coming periods. The latest technical analyzes, the continuation of the rises in the market and the new ATHif the ‘s are recorded, it also marks the $5,000 level, which is the psychological resistance level, then the $5,400 level, at the price targets on Ethereum, and the $6,000 price level when viewed from a longer-term perspective.

At the time of writing ethereu I (ETH), trading at price levels of $524 with a market capitalization of $4.420 billion, according to CoinMarketCap data.

The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.

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