Ethereum Price Prediction as ETH Rises 6% – New Rally Begins?

Last updated: March 26, 2024, 8:27 a.m. EDT | 3 minutes of reading

ETH surged 6% today, with the price of Ethereum rising to $3,659 as the cryptocurrency market gains 5.5% in 24 hours.

The altcoin has now gained 12% in a week, also marking a 21% gain over the past 30 days and a 104% rise over the past year.

ETH’s strong rebound comes as Bitcoin ETF inflows turned positive yesterday for the first time in nearly a week, with this transition potentially signaling the start of another rally.

And as Ethereum remains comfortably the strongest altcoin on the market, it is likely that it will see further gains soon.

Ethereum Price Prediction as ETH Rises 6% – New Rally Begins?

The ETH chart looks very positive at the moment, with the coin certainly capable of continuing its streak before entering an overbought space.

Its RSI (purple) touched 70 again after dropping to 30 late last week, a sign that the buying momentum is only accelerating and could continue for some time to come.

Source: TradingView

Likewise, its 30-day average (yellow) surpassed its 200-day average (blue) last night, a sign that it may have started a breakout.

Also encouraging is that its 24-hour trading volume has increased over the past day, from $13 billion yesterday to almost $23 billion today.

This is a strong signal of growing interest, with the last day seeing a number of significant off-exchange transfers.

It seems clear that many traders expect the price of Ethereum to continue to rise for the foreseeable future, with Bitcoin ETF volumes and enthusiasm surrounding the upcoming BTC halving helping to boost the ‘enthusiasm.

As noted above, the market appears to have risen because Bitcoin ETF inflows turned positive again for the first time in almost a week, with many traders taking this as a signal that another bullish period could begin.

If so, Ethereum is as well positioned as almost any other asset in the market to benefit from increasing positivity.

In fact, if the SEC ultimately approves spot Ethereum ETFs in the near future, ETH will clearly rise.

It continues to feature some of the best fundamentals in the market, with the Ethereum blockchain representing a total value of $53.4 billionor 53.6% of the entire sector.

Based on all this, Ethereum price could reach $4,000 again in the coming weeks, before surpassing its current ATH of $4,878 by summer.

New Small Cap Meme Tokens for Diversification

There’s no doubt that ETH is one of the safest bets in crypto, but it’s not the only one with rally potential in the coming weeks.

There are also various newer coins that combine viral appeal with strong fundamentals, with some of them gaining momentum as they go through pre-sales.

A good example of this is Dogecoin20 (DOGE20)an ERC-20 cryptocurrency that has so far raised a very impressive $10 million.

This figure comes despite the fact that the DOGE20 sale was launched only a few weeks ago, with investors clearly attracted to the meme token’s unique take on the formula.

On the one hand, Dogecoin20 is an Ethereum-based version of the original Dogecoin, with its use of Ethereum’s staking mechanism making it more environmentally friendly than proof-of-work DOGE.

On the other hand, it also provides stronger fundamentals and tokenomics than the original Dogecoin, with the coin having a hard cap of 140 billion tokens.

Combined with its staking system – which will provide greater rewards to stakers in the long term – this hard cap will make DOGE20 a deflationary coin, increasing its price in the long term.

On top of that, Dogecoin20 is committed to “Doing Only Good Every Day,” with the crypto providing regular support to charitable causes and community projects.

This support for more meaningful projects should help Dogecoin20 find more supporters and a wider community, and judging by the early success of its presale, this strategy appears to be working.

Its sale doesn’t have much more time before closing, but new investors can join by visiting the official website of Dogecoin20.

They can purchase the coin at $0.000222 per token, although this price is likely to skyrocket once the token is listed.

Buy Dogecoin20 now

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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