After the second attempt at the upside during the weekend, which failed to push ETH to new record highs, Ethereum is consolidated above the $3,500 support level. Despite the bullish outlook on ETH, its value has dropped by about 1.5% in the last 24 hours.
While some of this decline may have been attributed to stop-loss orders, some market experts believe the negative sentiment on the general cryptocurrency market might have been because of the comments of Jerome Powell in San Francisco.
Powell, Federal Reserve’s Chair, during a discussion with Marketplace host Kai Ryssdal, moderately emphasized the strength of the current economy and the expectation of robust growth in the future.
While major cryptocurrencies like Bitcoin and Ethereum have consolidated around specific price points, since he made these comments a few hours ago, crypto engineering projects like Bitgert (BRISE) have seen an uptick in the same window. Bitgert is expected to continue on its rise to the top after pumping by almost 80% in March alone.
Ethereum’s Price Action
Ethereum traded above $4,000 around mid-March, but it later bounced off the 50 SMA after finding support on the moving average. As Easter approaches, ETH trades below a newfound resistance (i.e., the 20 SMA), stopping ETH/USD from making further gains.
Now consolidating above the $3500 support, we likely see a retreat lower, but the 50 SMA might act as support again, which would be an excellent place to go henceforth.
The market is building momentum as we prepare for another Bitcoin halving. Ethereum and other altcoins like Bitgert, etc., are expected to have a bull run in the second quarter of 2024.
Bitgert’s Price Forecast
Bitgert (BRISE) has enjoyed success since the beginning of 2024, surging by nearly 80% in the last few weeks amid the volatility in the market. Bitgert has shown stability and growth despite the uncertainty of the market. But there are several reasons for Bitgert’s success. Let’s consider a few.
Increased Adoption
One of the key drivers of Bitgert’s surge is its increasing adoption in the market. With its lightning-fast transaction speeds and very low gas fees, Bitgert has become a preferred choice for traders and investors.
Additionally, Bitgert’s user-friendly interface and seamless integration with other platforms have attracted a growing number of developers and users, further fueling its adoption and price appreciation.
Growing Ecosystem
Bitgert’s robust ecosystem of products and services has also contributed to its success. By offering a diverse range of solutions like Bitgert Exchange, PayBrise, Real Estate Marketplace, etc., Bitgert caters to users’ needs.
In conclusion, Bitgert Coin’s surge indicates its potential to join Bitcoin and Ethereum as leaders in the 2024 bull market.
Learn more about Bitgert, https://bitgert.com
