Ethereum Report from Coinbase! Will the Rising Continue?

Ethereumheld in September 2022 Merge after upgrade Shanghai The upgrade was also successful.

Shanghai upgrade unlocking locked ETHs ETH Although there is a general expectation that it will put selling pressure on the market and negatively affect the price, ETH price has reached its highest levels since August 2022, surpassing $ 2,000 after the Shanghai hike.

At this point Shanghai upgrade and ETH evaluating the price coinbase Analysts stated that this uptrend in ETH could continue until the end of April.

As reported by Coindesk, Coinbase analysts David Duong and Brian Cubellis said that the ETH price has been resistant after the Shanghai rise.

Analysts say the Shanghai upgrade is successful. ETH He also stated that the price may continue to rise until the end of April.

Within the first 24 hours after the activation of withdrawals on ETH Ethereum Analysts, who stated that the supply was limited, stated that this situation triggered the rise.

As another reason for the rise in ETH, ETH to bitcoin (BTC) showed lower performance compared to

“Part of the reason Ethereum has gained in value is that the supply of ETH has decreased after the Shanghai upgrade, and ETH has underperformed compared to Bitcoin since the beginning of 2023.

Due to the poor performance of ETH against BTC, there is some reversal from Bitcoin to ETH.

Also, the macro environment remains conducive to risk taking on Ethereum for now. This, in turn, could support the price of Ethereum.”

Up to $2,140 levels Ethereumcontinues to trade at $2,072 at the time of writing.