Ethereum price eyes the zone above $2,000 as correlation with the flagship crypto continues
Ethereum (ETH), the crypto world’s second-largest coin, has been slipping down the red slide this June. Despite this, Ethereum remains unfazed. Eth’s price took a hit, dropping around 15% this month. Yet, it has shown its resilience by finding support at a long-established trendline and keeping its upward trend for seven months. This article will discuss the possibility of Ethereum reaching $2k and the ETH price prediction for Q3.
At the forefront of blockchain innovation, Ethereum introduced the concept of smart contracts, revolutionizing the crypto industry. Its blockchain architecture provides a decentralized platform for the creation and execution of these smart contracts. By eliminating the need for intermediaries, Ethereum fosters trust and transparency, empowering individuals and businesses to engage in secure and reliable transactions.
Ethereum’s governance model is characterized by its open and inclusive nature. It allows stakeholders to actively participate in decision-making processes through proposals and voting. This decentralized governance framework ensures that the platform evolves according to the collective will of its community, creating a sense of ownership and empowerment. Such community interactions attract developers who appreciate the opportunity to shape the future of Ethereum, contributing to its widespread adoption and growth.
ETH Price Analysis
As things stand, Ethereum is currently changing hands at the price of $1,954.46, which represents a slight loss of 0.41% in the last 24 hours but still indicates an advance of 4.70% across the previous seven days, as well as growing 2.88% over the month, as the latest charts suggest.
The Relative Strength Index (RSI) faces north, suggesting rising momentum. Similarly, the Awesome Oscillators (AO) are above the midline with deep green histograms, further adding credence to the upside.
An Increase in buying pressure from the current level could see the Ethereum price rise around 2%, crossing into the $2,000 zone. In a highly bullish case, ETH could reprint the mid-April highs around $2,120, denoting a 7.95% ascent from the current price.
Why Invest in Ethereum?
One of the biggest reasons to invest in Ethereum is Ethereum 2.0, an upgrade of Ethereum’s algorithm that will transition it from proof of work to proof of stake. If the transition is successful, it may increase the price of Ethereum immensely. But that’s one of many reasons why investing in Ethereum could be profitable.
Ethereum has increased significantly since the start of last year, and it shows no sign of slowing down. Experts believe the ETH coin has plenty of growth ahead and that investing in Ethereum is a smart financial decision for the long term. Therefore, it could be a good time to invest in Ethereum ETH while the coin performs well.
To be more precise, Ethereum has introduced dApps and smart contracts that allow users to make transactions without a middleman. Thanks to the introduction of smart contracts, Ethereum can revolutionize computer programming and digital ownership.
People can buy different assets from all over the world without dealing with banks and bureaucracy. Ethereum also allows tokenizing artwork, patents, mortgages, person-to-person transactions, and even voting.
No surprise that according to data provided by the World Economic Forum, up to 10% of the global Gross Domestic Product globally will be facilitated via blockchain technology by 2025.