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Ethereum Bullish Momentum Shows Potential Rise to $4,000





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Ethereum's upward trend shows potential for a spike to $4,000, indicating strong investor confidence and network engagement.

According to Cointelegraph, Ethereum is showing signs of a bullish trend, with its price potentially heading towards $4,000. This optimism is fueled by the formation of a 'bull flag' on the daily chart, a technical pattern often associated with strong upward momentum. The increase in Ethereum's network activity and total value locked (TVL) further supports this positive outlook.

Ethereum's transaction fees have risen, indicating increased network activity. Ether (ETH) price surged nearly 56% to reach an eight-week high of $2,734 on May 23, up from a low of $1,750 on May 6. This price increase coincides with a 37% rise in Ethereum's daily transaction volume over the past 30 days, a level last seen in January 2024. The average daily transaction fee also hit a 90-day high of 0.0005 ETH ($1.33) on May 22. The high transaction volume and fees indicate increased user interaction with the network, whether for decentralized finance (DeFi), non-fungible tokens (NFTs), or other decentralized applications (DApps). Historically, Ether prices have surged during periods of high network usage

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