Ethereum’s Next Big Upgrade Slated For 2023 — Here’s why It’s Super Bullish For ETH

ethereum Breaks $2,000 Barrier

ethereum (ETH) has finally surpassed the $2,000 milestone and is now heading towards the $2,500 price level.

ETH had been trying to reach $2,000 for months, but recently, the second largest cryptocurrency has made significant progress.

Positive Outlook from IntoTheBlock

According to IntoTheBlock’s “In/Out of the Money” parameter, ethereum is not expected to face major resistance until the $2,500 area. With 75% of ETH holders already profiting, the leading on-chain metrics provider predicts a positive outlook for ETH.

IntoTheBlock also emphasizes that while profit-taking and pullbacks are anticipated, ethereum‘s long-term perspective suggests a potential surge to the $2,500 zone.

Whales’ Impact on ethereum

Market analyst Ali Martinez notes that despite ethereum‘s achievement of $2,000, whales have not initiated buying. However, if they do, it could lead to even higher prices for ETH.

BlackRock’s filing for an iShares ethereum Trust in Delaware is credited for ETH‘s current position in the $2,000 zone, according to . Additionally, the decrease in ETH supply on exchanges has demonstrated a holding culture in the ethereum community.

At present, ETH is trading at $2,079, and it remains to be seen whether ethereum will continue its upward trend and reach $2,500.

### News source:

See also  FTX's Decline: Sam Bankman-Fried Holds Binance Accountable

By Team