ETH Approaching Critical $2,000 Level – Will Bulls Rally or Is a Breakdown Coming?
Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...
Despite mid-term challenges for Ethereum’s USD price, inflows into ETH stocks and ETFs could catalyze a rebound from the $2000 level.
This follows a tumultuous month for Ethereum, marked by an 11.6% drop month-on-month, cumulating in a six-month loss of 34%.
However, with renewed activity in the crypto market and a shift towards risk-on sentiment ahead of tomorrow’s FOMC meeting, signs are emerging of a potential local bottom for Ethereum’s price.
This outlook is further bolstered as nation-state actors, like Bhutan, intensify their accumulation of ETH.
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