Ethereum Price Turns Green Ahead of Significant Dencun Upgrade

• At the time of writing, ETH is trading at $2367, up 1.14% in the last 24 hours.
• If the price manages to go above $2384 level, then it will likely test $2495 resistance level.

Even if the crypto market as a whole is consolidating, Ethereum’s price has been rising over the last day. Though Invesco and Galaxy Digital’s spot Ethereum ETF approval was delayed by the U.S SEC recently, the price of Ethereum soared to $2,400 lately. There is a lot of hope among investors due to talks about the possible approval of an Ethereum ETF.

Ethereum is aiming for the $3,000 barrier after breaking over a critical resistance level. Investors and traders are keeping a careful eye on Ethereum to see whether it can sustain this position, which might mean a continued bullish trend.

Highly Anticipated Upgrade

The Dencun integration is set to launch on the Holesky Ethereum testnet in the coming hours, marking a major milestone for the Ethereum ecosystem. Many are eagerly awaiting the formal announcement of the mainnet launch date, since this milestone signifies the last testnet fork before the expected deployment.

The Dencun upgrade will bring about a significant change in the Ethereum network, which is currently experiencing sluggish throughput and high fees. Because of the improvement, Ethereum will be cheaper to use and comparably quicker than its rivals.

At the time of writing, ETH is trading at $2367, up 1.14% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 21.38%.

Source: CoinMarketCap

If the price manages to go above $2384 level, then it will likely surge further to test $2495 resistance level. However, if the bears drive the price below $2184 level, then it will likely decline further to test $2033 support level.