The Ethereum blockchain underwent a series of upgrades last year that have resulted in lower transaction fees and more active addresses.

CryptoMarket and Blockchain News

Ethereum experienced a significant price surge, successfully breaking the $3,350 resistance level. After reaching a high of $3,402, the price initiated a downward correction, currently trading above $3,280. This key support level aligns with both the 100-hourly Simple Moving Average and a bullish trend line. The price has retraced below the 23.6% Fibonacci level of its recent upward movement. If the $3,280 support holds, Ethereum might attempt another upward climb. Immediate resistance levels are seen around $3,320, then $3,350 and $3,385. Breaking $3,385 might push the price towards $3,450, potentially leading to further gains, possibly reaching $3,500 or $3,550. Conversely, failure to surpass $3,320 could trigger a decline, with support at $3,280 and $3,260. Technical indicators show the MACD losing bullish momentum, while the RSI is below 50.

XRP could be near an inflection point as a chart pattern tightens into its apex and broader “risk-on” signals in equities flash green.

Ethereum price started a major increase above the $3,320 resistance and reached a high of $3,402. The price is now correcting some gains and might dip toward the $3,280 zone. Ethereum is trading above $3,300 and the 100-hourly Simple Moving Average, indicating a bullish trend. A bullish trend line is forming with support at $3,280 on the hourly chart of ETH/USD. The pair could continue to move up if it stays above the $3,280 zone, with immediate resistance seen near the $3,350 level. The first key resistance is near the $3,380 level, and the next major resistance is near the $3,400 level. A clear move above the $3,400 resistance might send the price toward the $3,500 resistance, potentially leading to more gains in the coming days. If Ethereum fails to clear the $3,400 resistance, it could start a fresh decline, with initial support on the downside near the $3,300 level. The first major support sits near the $3,280 zone and the trend line, and a clear move below the $3,280 support might push the price toward the $3,230 support. The technical indicators, including the Hourly MACD and RSI, suggest that the price is losing momentum in the bullish zone but still remains above the 50 zone, indicating a potential for further gains.

CryptoMarket and Blockchain News

The cryptocurrency market entered a renewed bullish phase as institutional capital, derivatives market dynamics, and shifting investor…