Ethereum Rally Hindered by $3500 Barrier

Ethereum Shows Bullish Signs as Price Targets $3500

Since the start of 2024, the price of Ethereum (ETH) has been steadily increasing, and it now seems to be on its way to a breakout. The weekly and daily Relative Strength Index (RSI) for ETH have both shown bullish signs, indicating that the cryptocurrency could continue to rise in value. In fact, JP Morgan has even projected that Ethereum will outperform Bitcoin in 2024, further fueling optimism about its future prospects. However, there is one key obstacle that Ethereum must overcome before it can reach its target of $3500.