Ethereum (ETH) Sees Minor Dip Following Rise Past $2400 Mark

• Etherscan acquires Solscan, expanding its blockchain analytics to include Solana.
• Ethereum’s price surpasses $2,400 amid favorable cryptocurrency market conditions.
• ETH trading at $2363, with potential to reach $2428 resistance or drop to $2277 support.

Etherscan, a prominent block explorer, API, and analytics platform for the Ethereum network, has declared its acquisition of Solscan, a well-known block explorer for the Solana blockchain.

According to the announcement, the Solscan ecosystem has been formally incorporated into the Etherscan group of products, which also features Bscscan, a tool for exploring the BNB Smart Chain. With Solana’s ecosystem experiencing rapid growth, its acquisition by Etherscan ensures sustained progress backed by an experienced team.

Market observers and the public are astonished by the recent surge in the price of Ethereum . A favorable movement in the cryptocurrency market has led to Ether’s value soaring past the $2,400 mark.

The current increase in Ethereum’s value is likewise a response to the heightened attention Bitcoin and the entire cryptocurrency industry are receiving. Over the past year, the digital currency’s price has risen by a remarkable 97.1%. This uptick in price comes after a series of tweets from Ethereum’s co-founder, Vitalik Buterin, who outlined the updated roadmap for the blockchain for 2024.

Temporary Correction Phase Has Begun

According to CoinMarketCap data, ETH’s trading price is $2363, representing a decrease of 1.63% over the past 24 hours. Additionally, there has been a 2.08% increase in trading volume. Although the price reached as high as $2428 the previous day, it subsequently encountered significant selling pressure.

Should the price surpass the $2393 mark, it is expected to continue its ascent towards the $2428 resistance mark. Conversely, should the price fall beneath the $2353 threshold, it is anticipated to descend towards the $2277 support mark.