Over the past three months, ethereum (ETH) has grown by about 65%. At the end of January, the altcoin was at $2171, and it was already trading above $3400 on February 29.
Relative to bitcoin, ethereum is still oversold, meaning it retains the potential for a new surge.
By mid-March, the cryptocurrency could be close to $4000, experts predict.
Santiment said ethereum was climbing above $3500 this week – about 39% below its peak of $4859 on Nov. 10, 2021.
ETH is strengthening along with bitcoin, while tech stocks appear to have peaked and are in a correction phase. Gold is also trading in a narrow range.
The average daily number of active addresses on the etherium network rose to 538,140 on Thursday. The increased network activity sets the stage for the altcoin’s growth in March.
In the same month, ETH developers promise to activate the Dencun fork, which will significantly expand the network’s user experience.
In case of a successful update of etherium and increase in its performance, the attractiveness of ETH will also increase. Experts do not rule out that by the end of March, the altcoin will be above $4000.