Ethereum Price Primed for $3,500 Surge Amid DeFi Strength

Ethereum is poised for a surge in price, potentially reaching $3,500, thanks to strong sentiment in the decentralized finance (DeFi) sector and positive technical indicators. Despite experiencing some initial losses, Ethereum has stabilized around $3,379 and is showing signs of upward movement. The DeFi sector within Ethereum’s ecosystem has rebounded, with the total value locked (TVL) surpassing $50 billion, indicating growing confidence and interest in the market’s future. Investors are choosing to secure the Ethereum network and earn additional coins rather than immediately selling for profit, which further supports the bullish momentum. Technical indicators, such as the 20-day EMA and MACD, also indicate a positive outlook for Ethereum’s price. Additionally, the upcoming Bitcoin halving event could drive increased interest in major altcoins like Ethereum. However, resistance is expected around $3,435, as there are a significant number of addresses holding ETH at this level.