Ethereum Reclaims $3000, Can ETH Hit A New Peak in 2024?
Ethereum (ETH) briefly reclaimed the $3000 mark, rallying 3% in the daily charts and 1.8% in the 14-day charts. However, ETH’s price could not hold the $3000 level, falling to around $2998. The $3000 level seems to be the immediate resistance level for the second-largest cryptocurrency by market cap. ETH is also down by 2.6% over the previous month. Source: CoinGecko Also Read: Ethereum Struggles to Hold $3,000 Support: How Will ETH Perform in May? The recent rally could be due to cooler inflation figures than expected. Inflation in the US increased by 0.3% in March, compared to expert expectations of 0.4%. Investor sentiment may have taken a turn for the better. Nonetheless, the Federal Reserve may continue to follow its policy of higher interest rates for longer until inflation falls to its 2% target. Will Ethereum (ETH) hit a new high in 2024? Source: Investopedia ETH hit an all-time high of $4878 in November 2021. However, the asset’s price has fall...