Ethereum [ETH] attempting to sustain itself over $2k level thanks to…

ambcrypto.com:

ETH is back on track after recording a 4% bull run in the last 24 hours. After a difficult series of weeks, ETH developers have finally released a bit of good news. A core developer posted a tweet signaling the release of the testnet on 8 June.

The Ethereum community seems to have a sigh of relief after a roller-coaster start to May. The Terra crash stretched the volatility levels in the market with Ethereum caught in the mix of it. The crash also led to a massive dip in ETH prices which dropped to as low as $1600. Since then, it has been difficult to recover from that.

In the last 24 hours, ETH prices shot up by more than 4% and crossed $2000 again. This is a very important threshold for investors as they accelerate on these bullish signals. A surprising observation was found that the major metrics were not responsible for the price hike.

The only other prominent reasoning would be the release of the testnet launch. As per the tweet by Preston Van Loon, the “Ropsten testnet is getting merged on 8 June.” This is a “huge testing milestone” towards Ethereum’s mainnet merge scheduled for late 2022.

Merging Ropsten is a huge testing milestone towards Ethereum's mainnet merge later this year.