Ethereum News: Key Resistance Levels to Watch for Price Revival

Ethereum's price is currently consolidating above the $3,180 support level, with potential for a fresh upward move if it can break through the $3,350 resistance zone. Recent developments indicate a bullish trend, as ETH has already surpassed key resistance levels and broken a significant bearish trend line.

Ethereum Price Revival: What the Signs Say About Its Next Move

Ethereum price is currently consolidating above the $3,180 support level. For a fresh increase in the NEAR term, ETH needs to clear the $3,350 resistance zone. The cryptocurrency started a fresh upward move from the $3,180 support, surpassing the $3,220 and $3,250 resistance levels. A key bearish trend line with resistance at $3,280 was broken on the hourly chart of ETH/USD, and the price even tested the $3,350 level. Maintaining above the $3,220 support level could initiate another increase.

Vitalik Buterin Outlines Ethereum's L1 and L2 Expansion Strategies

Vitalik Buterin, the co-founder of Ethereum, has recently published a detailed article on his blog discussing the long-term scaling strategies for Ethereum's Layer 1 (L1) and Layer 2 (L2) solutions. He emphasized Ethereum's ongoing commitment to developing a global, censorship-resistant, and permissionless blockchain. Buterin reflected on Ethereum's significant advancements over the past decade, particularly in the areas of cryptography, economics, and social technology innovations. This strategic expansion aims to enhance Ethereum's scalability and efficiency, ensuring its position as a leading platform for decentralized applications.

Why Ethereum (ETH) Could Be Ready For a Break Above $3,500

On-chain data indicates a potential breakout for Ethereum (ETH) as the holding time of ETH coins has surged by 55% over the past seven days. This increase in holding time suggests stronger investor conviction, which could reduce selling pressure and drive up ETH's value. Additionally, ETH's funding rate has remained positive, further supporting the possibility of a price increase.

Vitalik Buterin Outlines Plan to Scale Ethereum’s L1 and L2 Protocols in 2025

Vitalik Buterin, co-founder of Ethereum, has detailed a strategic plan to enhance the scalability of Ethereum's Layer 1 (L1) and Layer 2 (L2) protocols by 2025. In a recent blog post, Buterin emphasized the importance of L2 solutions for scaling, dismissing the notion of relying solely on L1 improvements as impractical and misaligned with Ethereum's CORE ethos of decentralization and social impact. He highlighted the significant advancements in L2 technologies since their experimental beginnings in 2019 and stressed the need for ongoing innovation to maintain Ethereum's position as a leading decentralized platform.