Ethereum Surges: Price Up Over 41% in the Last Month

Ethereum (ETH) surges past $3,545, breaking an 8-month downtrend. Explore bullish predictions, DeFi dominance, NFT trends, and key resistance levels driving its growth. Learn more now!

Ethereum (ETH), the world's second-largest cryptocurrency, is experiencing a significant surge in price. After breaking out of an eight-month downtrend, ETH has climbed over 6% today, reaching $3,545. This rally follows a strong week with an 11.1% rise and a staggering 41% gain in the last 30 days.

Analysts Are Bullish on Ethereum's Future

Analysts are optimistic about Ethereum's future, predicting it could reach over $4,800 during this cycle. Several factors contribute to this bullish sentiment:

1. Technical Breakouts: ETH has broken free from a descending channel and descending triangle pattern, indicating potential for further price increases. Analysts have set targets as high as $4,700, bringing it close to its all-time high of $4,878.

2. Strong Momentum Indicators: Technical indicators like the Relative Strength Index (RSI) reaching 70 and Ethereum outperforming its moving averages suggest a robust upward trend.

3. Potential Golden Cross: A Golden Cross, where the short-term moving average crosses above the long-term one, is another bullish signal on the horizon.

Ethereum's Dominance in DeFi

Ethereum remains a dominant force in the cryptocurrency space. It accounts for over half of the total value locked (TVL) in DeFi, solidifying its critical role in the ecosystem. Additionally, the success of ETH-based layer-two solutions further strengthens its position.

Possible Boost from Favorable Regulations

The possibility of pro-crypto legislation under the incoming Trump administration could also benefit Ethereum. If implemented, such policies could accelerate its growth and align its market price with its perceived intrinsic value.

Recent Price Action and Upcoming Resistance Levels

At the time of writing this article on November 26, Ethereum is priced at $3,388, which means it has decreased by 1.6% with its highest price being $3,545 in the last 24 hours.

Despite the price decrease, Ethereum's RSI value is above 50, which means there is still hope for a price increase in the near future because the ETH buying trend is still dominant compared to the selling trend.

Increased weekend buying pressure and potential rotation away from Bitcoin have pushed Ethereum prices up. Analysts suggest a 30% rally is possible if ETH maintains bullish pressure above the key $3,400 level.

A successful break above $3,400 could see prices surge towards $4,189 and potentially reach $4,862.

NFT Market Update

While NFT sales have dipped slightly from the previous week, the overall trend remains positive, with a total volume of $158 million.

Ethereum remains the top network for NFT sales, followed by Solana. Interestingly, Solana is witnessing a surge in the number of NFT buyers.

Analyst Predictions on Altcoins

Popular analyst Altcoin Sherpa believes Ethereum might be nearing a cycle bottom relative to Bitcoin (ETH/BTC). He expects altcoins, including XRP, to perform well after Bitcoin completes its current rally.

Overall, Ethereum's outlook is positive. With strong technical indicators, a dominant position in DeFi, and potential tailwinds from regulations, ETH seems poised for further growth.

Key Factors Driving Ethereum's Growth

As Ethereum continues its bullish momentum, its dominance in the crypto market remains undeniable. Its robust network, extensive developer community, and innovative applications have solidified its position as a leading blockchain platform.

1. Layer-2 Solutions: The emergence of layer-2 solutions like Arbitrum and Optimism has significantly improved Ethereum's scalability and transaction speed, addressing one of its major limitations.

2. DeFi Ecosystem: Ethereum remains the backbone of the decentralized finance (DeFi) ecosystem, offering a wide range of financial services, from lending and borrowing to derivatives trading.

3. NFT Market: Ethereum has a significant presence in the NFT market, with many popular NFT collections being minted and traded on the platform.

4. Institutional Adoption: Increasing institutional interest in Ethereum, with major financial institutions and corporations exploring blockchain technology, has further bolstered its credibility.

Potential Challenges and Risks

While Ethereum's future looks promising, it's important to acknowledge potential challenges and risks:

1. Network Congestion: Despite layer-2 solutions, Ethereum's network can still experience congestion during peak times, leading to increased transaction fees.

2. Competition from Other Blockchains: Emerging blockchains like Solana and Cardano are vying for market share, offering faster transaction speeds and lower fees.

3. Regulatory Uncertainty: Regulatory uncertainty surrounding cryptocurrencies can impact the overall market sentiment and investment flows.

Conclusion

Ethereum's strong fundamentals, coupled with its active developer community and growing ecosystem, make it a compelling investment opportunity. However, as with any investment, it's essential to conduct thorough research and consider the potential risks involved.

You should always do thorough research before investing in the crypto ecosystem even if you are buying a leading token like Bitcoin, Ethereum, or Solana. Do your research using the features of the Bitrue website that you can access for free.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

 

 

Powerful Collaboration: Nusantara Global Network & FBS Revolutionize Trading Opportunities with Self Rebate

  

Kuala Lumpur, Malaysia, 28/11/2024 – Nusantara Global Network is pleased to announce its partnership with FBS, a leading broker that has been operating in the financial industry for over 15 years. The strategic partnership aims to provide traders with better trading opportunities, including faster deposit and withdrawal processes, competitive spreads, and flexible leverage options.

Committed to offering an exceptional trading experience, Nusantara Global Network will leverage FBS strengths by offering low spreads and leverage of up to 1:3000. In addition, FBS will provide a unique Self Rebate program, allowing traders to receive 80% of IB commissions without pip or minute requirements. This innovative approach ensures that traders can maximize their earnings without complicated requirements.

“Our partnership with FBS marks a significant milestone in our mission to empower traders,” said a spokesperson from Nusantara Global Network. “By combining our resources with FBS’s robust trading infrastructure, we are able to offer clients unparalleled benefits that enhance their trading experience and profits.”

FBS has built a reputation for fast deposit and withdrawal processes, ensuring traders can focus on their strategies without any delays. This partnership is in line with Nusantara Global Network’s dedication to providing the best support and service to its clients.

“We are excited to collaborate with Nusantara Global Network,” said a representative from FBS. “This partnership will allow us to further empower traders by providing them with exceptional tools and resources to succeed in this competitive market.”

https://FBSMalaysia.wasap.my

This partnership comes at the right time as the trading industry is rapidly evolving, with more and more individuals seeking access to the financial markets. By offering superior trading conditions and instant benefits, Nusantara Global Network and FBS aim to create a supportive environment for traders of all levels.

Traders interested in taking advantage of this partnership are encouraged to contact Nusantara Global Network for more information on how to get started with FBS and unlock exclusive trading benefits.

P.A. Properties breaks ground for Bridgepointe Place Phase 2B in the City of San Fernando, Pampanga

CITY OF SAN FERNANDO, Pampanga –P.A. Alvarez Properties & Development Corporation (P.A. Properties), through its affiliate company, P.A. Ventures celebrated another milestone with the groundbreaking ceremony for Bridgepointe Place Phase 2B on November 22, 2024.

“This landmark event coincides with the company’s 30th Anniversary celebration in December, themed “Behind Every Home is a Story”, said Atty. Marianne Reyna Lina-Cruz, CEO and President of P.A. Properties.

“For the past three decades, P.A. Properties has built a legacy of providing quality homes to over 30,000 Filipino families, driven by its commitment to creating sustainable communities and improving lives”, Lina-Cruz added.

Bridgepointe Place: A Gateway to Growth and Community

Situated in Brgy. Del Rosario, City of San Fernando, Pampanga, Bridgepointe Place is a sprawling 33-hectare community offering suburban charm with the convenience of being close to urban hubs like San Fernando and Angeles City. Strategically located near NLEX via the San Fernando exit, it provides easy access to essential establishments such as schools, hospitals, and commercial centers.

Bridgepointe Place Phase 2B introduces 162 new units, comprising 131 residential lots and 31 prime lots. This development opens more opportunities for Kapampangans to achieve their dream of homeownership while enjoying a vibrant and well-connected community.

Since its establishment, P.A. Properties through P.A. Ventures has enriched the local community by donating a hectare of land providing access to the City Government Civic Center hosting vital institutions such as the Department of Education Regional Office, the City College, a Sports Complex, and other local government satellite offices.

“Building More Than Homes”

During the groundbreaking ceremony, Atty. Lina-Cruz shared that “Bridgepointe Place is more than just a residential development; it is a partnership with the City of San Fernando in fostering progress and innovation. By aligning with the city’s vision, we aim to build not only homes but communities where families thrive, grow, and create lasting memories.”

To learn more about Bridgepointe Place 2B and other P.A. Properties developments, visit www.paproperties.com.ph.

About P.A. Alvarez Properties and Development Corporation

Nestled in San Pedro, Laguna, P.A. Alvarez Properties and Development Corporation (P.A. Properties) is a leading developer of low to medium-cost housing communities in Southern Luzon. Since its establishment in 1994, the company has built over 30,000 homes across key Philippine provinces, with plans to build an additional 25 communities in the next 5 years. P.A. Properties, guided by the tagline "Behind Every Home is a Story," not only addresses the nation's housing backlog but also actively contributes to economic growth. The company weaves a narrative of community development through philanthropic initiatives, such as land donation for a hospital in Cabuyao, providing right of way in Pampanga for civic centers, and establishing SanJo's markets in provinces like Laguna and Bulacan.