Ethereum Price Surges to New 2023 High; Resistance at $3,000 Predicted

Ethereum Price Surges to New 2023 High; Resistance at $3,000 Predicted

By: Eva Baxter

Ethereum, the second largest cryptocurrency by market capitalization, has surged to new heights, setting a new high in 2023 as it begins an uptrend. Analysts are suggesting that the digital asset could be preparing to test the $3,000 resistance level soon, an event long-awaited by ETH enthusiasts.

ETH Sees Unprecedented Highs

Throughout the better part of 2023, Ethereum had trailed behind Bitcoin. However, it has reentered the bullish market, gaining a new high in 2023 and starting an uptrend, characterized by a series of increasing higher lows and higher highs. There is speculation that it is part of an ascending triangle pattern, and if the cryptocurrency manages to break out from this, there could be a possible target of $4,000 per ETH.

Collaboration Setbacks

In related news, Ethereum's team lead, Peter Szilagyi, voiced his concerns over the dwindling interest in blockchain technology from his former university, attributing this to a focus on price rather than understanding the technology. Szilagyi had organized a grant for 9 students to participate in Devconnect, hoping this would spark further interest in the project from students. Despite this, the lack of enthusiasm remains a concern for Szilagyi and potentially the wider Ethereum community.

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