Ethereum Breaks $2,000, What You Should Prepare For

Ethereum has been struggling a lot in the past months. Following the general crashing pattern of the market in recent months. The Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin has persevered.

A week ago, Bitcoin fell below the $30K stronghold. Following this, Ethereum lost its footing at its $2,000 stronghold and fell below.

Related Reading | Ethereum 2.0 Contract Reaches 100,000 ETH Milestone

At first, it looked as if the Bear

‘ href=”https://www.newsbtc.com/dictionary/bear/”>bear. But all is not lost.

Ethereum has since regained back some control. Its price is back up in the green.

Bull Run After $2,000?

A bull rally for Ethereum does not seem unlikely at this point. There are projects going on on the Ethereum blockchain that encourages the use of the Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin can be used more as a currency instead of an investment asset.

Ethereum breaks $2,000 | Source: ETHUSD on TradingView.com

$2,000 has been the major hold point for Ethereum since the decline. Traders have battled to keep the Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin will experience further downturns before there could another recovery.

Ethereum still maintains a price higher than its previous all-time high. If it breaks, the next major resistance point would be at $1,500.

Developments are still ongoing in Ethereum to ensure the total scalability of the entire network. A complete overhaul to ETH 2.0 is scheduled for 2022.

Featured image from Press Insider Daily, chart from TradingView.com