Ethereum Price Analysis: ETH Hit $2,000 Mark; What's Next?

The Ethereum price analysis indicates a consolidation near the critical resistance level with a bullish bias. The price opened higher and tag the psychological $2,000 level for the first time since May 31.

Timeline of Ethereum

Ethereum broke above the $2,000 range for the first time in two months, continuing its bullish run following the success of the final testnet merge. The post Ethereum (ETH) Enters $2000 Range as Merge Draws Nearer appeared first on BeInCrypto.

The Ethereum upgrade is all the hype these days and is highly anticipated due to the scalability and security it promises. After multiple tests ran successfully, people are hopeful of a smooth launch in September.  Ethereum 2.

Ethereum price is soaring high displaying acute strength while the rise in the Bitcoin price is providing a substantial base. Further, while the star crypto remains undisturbed to some extent, the second largest asset may get a chance to propel high.

The global digital asset market printed green indexes on Saturday as the largest crypto like Bitcoin (BTC) and Ethereum (ETH) grabbed an upward momentum. However, traders choose this as a good time to liquidate their funds.

The last couple of days have been extremely bullish for the crypto space, especially for the second largest cryptocurrency, Ethereum price. The lead altcoin has gained 6% in the last 24hrs and is now trading at $2,000. In May, Ethereum had dropped extensively along with Bitcoin and the other assets.

On Saturday (August 13), the price of $ETH, the native token of Ethereum, went above the $2,000 level for the first time since June 1. According to data by TradingView, on crypto exchange Binance, the $ETH price hit $2,006.36 at 4:24 a.m. UTC on August 13. By 6:19 a.m. UTC, the $ETH price reached $2019.

The world's second-largest cryptocurrency Ethereum (ETH) has shot up another 5% in the last 24 hours hitting $2,000 levels for the first time since May 2022. The Ether (ETH) price has been rallying hard since the beginning of July and has gained nearly 100% over the last 40 days.

On-chain data analytics platform Santiment, has pointed out that Ethereum's 80% increase over the past month and the significant market interest on it might be a good sign and can indicate that “things can continue”. ETH bull run just before the merge?

Ethereum's transition into a proof-of-stake consensus mechanism continues to be at the forefront of discussions within the blockchain ecosystem. On 11 August, core developers on the network, on a consensus layer call, suggested possible dates for the Ethereum Merge.

As Ethereum nears the Merge, some blockchain proponents are poised to fork and maintain legacy Ethereum. As was recently reported, EthereumPow (or proof of work) is almost ready to go with certain exchanges announcing possible support.