Ethereum Price Aims for $3500 with Franklin Templeton’s Spot ETF Application

👉🏻 Franklin Templeton’s spot ETF application for Ethereum includes an extra feature: the ability to stake Ethereum. This sets it apart from similar applications from companies like BlackRock and Ark.

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👉🏻 Ethereum (ETH), the second-largest cryptocurrency globally, has experienced a significant breakout, with its price rising by 6% and surpassing the $2,600 mark. This surge has contributed to Ethereum’s weekly gains, which now stand at over 15%.

Ethereum’s Price Rally and Outlook

Analysts are optimistic about Ethereum’s price trajectory in 2024, especially after its recent breakout, which has set the stage for a potential climb to $3,500.

Since June 2022, Ethereum’s price has been steadily increasing, marked by the formation of two higher lows indicated by green icons on the charts. The pace of this upward movement accelerated following each of these low points.

In November 2023, Ethereum’s price broke through a long-standing horizontal resistance level. This breakthrough resulted in a peak of $2,717 in January 2024, surpassing the 0.382 Fibonacci retracement resistance level.

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