Ethereum’s 52-week intraday high was on March 12, 2024, trading at $4,088.00 per ETH. Its 52-week intraday low was $1,776.80 on Nov. 3, 2023. The leading altcoin has shifted global financial markets and amassed a global market capitalization of $302.74 billion. ETH is currently up 44% year over year.

A simulation by Tim Robinson shows that if L2s scale Ethereum by 10,000 TPS in the future, the total amount of ETH burned per day could cross the $45 million mark if ETH's price is $3,000. Such a burn rate will fuel deflationary pressure for Ethereum, leading to soaring prices.

Like several altcoins, Ethereum (ETH) is bullish today. It is approaching the critical $2,800 resistance level. A break above this region could set the tone for Ethereum’s next major market trend. Will the ETH’s price breakthrough or face rejection at this critical level?

Although ethereum is not the first altcoin, it’s the most popular and successful. The cryptocurrency was launched in 2015. Its blockchain has generated tremendous growth and returns over the past nine years.

Ethereum (ETH) trades inside an ascending parallel channel. The ETH price faces a confluence of resistance at $2,730. Will ETH finally start playing catch-up to