ETH Hikes Over 9% Ahead Of Goerli Testnet As Crypto Market Cap Breaches Trillion Mark

Ethereum Price Today: The market is trading in green as Bitcoin and other Altcoins are seeing a jump today despite the collapse of two major crypto-related banks last week. As of writing, Bitcoin price increased by 8.68% in the last 24 hours. Ethereum price increased by 8.01%. 

The global crypto market cap stands at 1.03 trillion USD, an increase of 7.18% over the past day. The total crypto market volume in the last 24 hours increased by 2.09% and is currently at 75.21 billion USD.

Ethereum (ETH) price rises by 8.68%

The second largest crypto, Ethereum price today escalated by 8.68% in the last 24 hours. The market cap for Ethereum is 196.50 billion USD. Moreover, trading volume increases by 11.29% over the previous 24 hours, showing increased interest among investors. Each ETH token is trading for 1,605 USD. Source: coinmarketcap

Also read: Bitcoin (BTC) Price Shoots Over 8%, Why Is the Market Up Despite Bank Collapses?

The Shanghai upgrade which was all set to be executed by the end of March has been pushed further to April. The launch of the Goerli testnet, which serves as a thorough dress rehearsal for the Shanghai upgrade, is currently scheduled by Ethereum’s developers to take place on or around March 14. 

What’s next for ETH?

The price of Ethereum experienced a surge toward $1,370, which was met with resistance from the bulls. However, ETH established a strong foundation and continued to climb above the $1,450 resistance level.

Notably, there was a distinct increase above the $1,500 and $1,565 resistance levels. Additionally, a significant bearish trend line was broken, with resistance close to $1,480 on the hourly chart of ETH/USD. Eventually, the pair exceeded the $1,600 resistance level, peaking at $1,636.

Also read: Breaking: USDC Set To Regain $1 Peg As Circle Devises New Strategy To Cover Shortfall

Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.