Rally on $ETH not over as the second biggest cryptocurrency paves the way toward $2,100
Looking at Ethereum's price action, the $2,100 level is not uncharted territory. Earlier this year, Ethereum had reached this level, propelled by positive sentiment around the network's upgrade to Ethereum 2.0 and the boom in decentralized finance applications.
Moreover, Ethereum's rejection at the $1,932 level, despite a setback, can also be viewed as a healthy correction. It provides an opportunity for the market to gather momentum for the next leg upward. In summary, although Ethereum has experienced resistance near the $1,900 level, the long-term view remains optimistic. The reduction of the ETH supply on exchanges and the return of lower average transaction fees could pave the way for Ethereum's journey to the $2,100 mark.
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