Ethereum Hits 18-Month Highs, Targets $3,000<\/strong><\/h2>\nEthereum, the second-largest cryptocurrency in the world, is rising quickly and has reached levels not seen in the previous 18 months. With a market valuation of $285 billion, ETH is now trading 5.7% higher at $2,375 as of the time of publication. Some speculators have even shared $3,000 price predictions for ETH amid the latest market breakout.<\/p>\n
Ethereum’s approaching resistance level poses a huge challenge to buyers of the altcoin, including the fixed barrier at $2.5K, which has frequently shown to be a significant roadblock. But if the market is able to recapture this critical area, Ethereum may go on to reach the $2.5K – or even $3.000 — in the future.<\/p>\n
![](\"https:\/\/www.tradingview.com\/x\/k9gFrG8x\/\")
Ethereum currently trading at $2,358 territory on the daily chart: TradingView.com<\/a><\/pre>\nAs Ethereum breaks down further obstacles, investors and market watchers are keeping a close eye on the situation. A notable indication of the increased interest from institutional investors is the eagerness with which major players like VanEck, BlackRock, and Grayscale are awaiting clearance for Spot Ethereum ETFs.<\/p>\n
According to Santiment, an on-chain data service, Ethereum has reached $2,349,<\/a> its highest price since June 2022. The amalgamation of the positive long-term trend indicating a rise in wealth for the leading non-exchange whale wallets and a decrease in sell-off power for the leading exchange whale wallets presents a propitious situation for a steady upward trend.<\/p>\n![\"\"](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/a-54.png?resize=729%2C487\")
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Ethereum’s Non-Exchange Holdings Surge To 55M ETH<\/strong><\/h2>\nA recent tweet from Santinment highlights some intriguing variations in Ethereum’s wallet mechanics. Exchange wallets saw a five-year low of 9.3 million ETH, while top non-exchange wallets are building up to a record 54.6 million ETH. This move points to upward trends, with wealth building through non-exchange transactions and decreased selling pressure.<\/p>\n
Related Reading: XRP Greed Index Soars, Backed By Robust $1.3 Billion Volume \u2013 Good For Price?<\/a><\/div>\nOver the course of two months, a bearish divergence between the price and the RSI indicator grew, pointing to a possible overvaluation of Ethereum at this point. Given the current characteristics of the market, even if buyers seem to be in charge and overall sentiment is bullish, there is a significant likelihood of a brief corrective phase that involves consolidation and higher volatility in the near future.<\/p>\n
Meanwhile, a\u00a0recent ACDE meeting provided information about the impending Dencun fork of Ethereum, which is set to occur in January 2024. The Goerli network testnet fork was well-prepared for by development teams, opening the door for a larger Goerli shadow network fork in the coming weeks.<\/p>\n
\nACDE#176 happened earlier today: we discussed the state of Dencun, timelines for testnets, and how to approach planning the following network upgrade \u26d3\ufe0f<\/p>\n
Agenda: https:\/\/t.co\/ATVLQ7f9Xp<\/a>
\nStream: https:\/\/t.co\/tDM0tDKxC5<\/a><\/p>\nRecap below \ud83d\udc47 https:\/\/t.co\/PhGBkYxhYN<\/a><\/p>\n
As Ethereum breaks down further obstacles, investors and market watchers are keeping a close eye on the situation. A notable indication of the increased interest from institutional investors is the eagerness with which major players like VanEck, BlackRock, and Grayscale are awaiting clearance for Spot Ethereum ETFs.<\/p>\n
According to Santiment, an on-chain data service, Ethereum has reached $2,349,<\/a> its highest price since June 2022. The amalgamation of the positive long-term trend indicating a rise in wealth for the leading non-exchange whale wallets and a decrease in sell-off power for the leading exchange whale wallets presents a propitious situation for a steady upward trend.<\/p>\n A recent tweet from Santinment highlights some intriguing variations in Ethereum’s wallet mechanics. Exchange wallets saw a five-year low of 9.3 million ETH, while top non-exchange wallets are building up to a record 54.6 million ETH. This move points to upward trends, with wealth building through non-exchange transactions and decreased selling pressure.<\/p>\n Over the course of two months, a bearish divergence between the price and the RSI indicator grew, pointing to a possible overvaluation of Ethereum at this point. Given the current characteristics of the market, even if buyers seem to be in charge and overall sentiment is bullish, there is a significant likelihood of a brief corrective phase that involves consolidation and higher volatility in the near future.<\/p>\n Meanwhile, a\u00a0recent ACDE meeting provided information about the impending Dencun fork of Ethereum, which is set to occur in January 2024. The Goerli network testnet fork was well-prepared for by development teams, opening the door for a larger Goerli shadow network fork in the coming weeks.<\/p>\n ACDE#176 happened earlier today: we discussed the state of Dencun, timelines for testnets, and how to approach planning the following network upgrade \u26d3\ufe0f<\/p>\n Agenda: https:\/\/t.co\/ATVLQ7f9Xp<\/a> Recap below \ud83d\udc47 https:\/\/t.co\/PhGBkYxhYN<\/a><\/p>\n<\/p>\nEthereum’s Non-Exchange Holdings Surge To 55M ETH<\/strong><\/h2>\n
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