Will Ethereum (ETH) Hit the $2K Mark on its 8th Anniversary?

• Ethereum (ETH) went live on July 30, 2015, at 10.26 a.m. EST. 
• The trading price of ETH has shown a surge of 0.74% in the last 24 hours.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is about to complete its eighth year this week, on July 30. In these eight years, the cryptocurrency has achieved a significant milestone by becoming the leading altcoin in the crypto market, and Ethereum is the most active blockchain.

The Ethereum (ETH) blockchain went live on July 30, 2015, at 10.26 a.m. EST. The founding team named the first release the Frontier. Today, Ethereum is developing an ecosystem with over 1.6 million weekly active users, thousands of communities, and a $226 billion market cap. The entire crypto market is expecting the ETH price to hit a significant mark on this remarkable day with the hype around the eighth anniversary. 

Ethereum (ETH) Price Analysis: 24-Hour Timeframe

At the time of writing, the trading price of Ethereum is $1,876, with an increase of over 0.74% in the last 24 hours. According to the data from CoinMarketCap, the daily trading volume of ETH has reached $3.6 billion, experiencing a decline of 10.64%.

The daily price chart shows a neutral price movement as the current price of ETH is closing near the 50-day exponential moving average (50 EMA). Moreover, according to the daily RSI, ETH is neutral and inching closer to the oversold zone. 

In the year 2023, the trading price of Ethereum has shown a lot of ups and downs. In April, the ETH price reached the $2K mark for the first time this year. It went higher to reach the $2120 level and stayed at the $2K mark for three days. And then, on July 14, after three months, ETH hit the $2K mark for the second time this year, making a high of $2028.

The surge has been shortlived for the largest altcoin, which has been trading mostly below $2K in 2023. If the trading price of ETH experiences bullish momentum, the trading price will reach the nearest resistance of $1917 and even advance further to $2018. If it continues to decline, the downward momentum will bring it back to its low of $1818. However, the crypto community is expecting ETH to hit the significant mark for the third time on its eighth anniversary. What do you think, Will ETH show a pump? Tweet to us at… And let us know your thoughts. 

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• Source: https://thenewscrypto.com/will-ethereum-eth-hit-the-2k-mark-on-its-8th-anniversary/