Because Ethereum (ETH) is circling key price points, experts are keeping a close eye on the digital asset in the constantly changing cryptocurrency market. a well-known personality in the encryption field known as encryption Tony recently provided observations on X (previously Twitter), stating that Ethereum’s bullish momentum may begin if it stays over $2,130 and even more so if it regains the range high above $2,500.
Ethereum’s price as of the most recent market data is $2,262, which is a little gain of 1.22% over the last day. But during the past 30 days, the cryptocurrency has dropped by 4.29%, illustrating the underlying volatility of the market. In the past 24 hours, the trading volume of ETH has increased significantly by 75.24% to $9,626,210,522, showing increased interest and activity in the digital asset.
https://x.com/CryptoTony__/status/1744297642946105650?s=20
Blockchain Tony, like many other Ethereum fans, places a great deal of stress on the $2,130 and $2,500 thresholds as possible triggers for a long-term bullish trend. In the upcoming days, the cryptocurrency world will be watching with bated breath to see if Ethereum can not only sustain but even rise over these crucial levels.
Potential bullish catalyst
In a related development, the Prague upgrade, sometimes referred to as the Pectra upgrade, is almost imminent for the Ethereum network. The Ethereum community has been rather excited about this impending upgrade because it is expected to bring about significant improvements and changes to the platform. Improvements in scalability, security, and general functionality are expected to come with the Prague update, which might have a favourable effect on Ethereum’s price trend.
Analysts and investors have been talking about the possible positive impact of the Prague upgrade on ETH’s value. Some are even suggesting that the upcoming adjustments would be the impetus for a price spike that would push Ethereum over its present levels.
The combination of technical analysis showing important price levels and the expectation of a significant network upgrade adds to the rising curiosity surrounding Ethereum’s potential price moves, even if the market is still volatile and unpredictable. As ETH negotiates these pivotal points in the constantly changing cryptocurrency ecosystem, market players are keeping a careful eye on the changes and prepared to seize any possibilities.
