Ethereum (ETH) Ready for a Bullish Breakout? Ethereum (ETH) is showing strong signs of resilience, staying above $2,650 and hinting at a possible rise toward $2,900. This recent price jump is mainly due to the growing interest in decentralized applications (dApps) and the popularity of Ethereum-based projects. Despite some ups and downs, ETH's overall outlook remains positive, especially with ongoing improvements like Ethereum 2.0 and its switch to a proof-of-stake system.
Earlier this month, transaction fees dropped below $1 for the first time since July 2020 but later spiked again, along with a significant increase in the burn rate. Interestingly, the number of active accounts has decreased by 11%, now sitting at 385,000.
Recently, ETH tried to break through the $2,700 mark, reaching a high of $2,704 before pulling back. Analysts believe that if ETH can push past this resistance, we might see it climb toward $3,000 in the next few weeks. This sets the stage for an optimistic Ethereum price prediction as market sentiment continues to strengthen.