Ethereum price has risen over 10% with the support of the broader crypto market and formed a cemented the crucial $2000 level as support. As the London Fork is set to launch on Aug 4 ETH can potentially bounce off and make a parabolic move soon.
ETH price after a fall from $2300 level yesterday corrected gains and continued the uptrend. The token has again surged above $2300 now as it is trading at $2308. However, ETH should prevent a stoop below this level to validate a bullish rally forward.
The immediate resistance now is at $2320. ETH has to achieve a clear close above this level to bring $2400 level to play. A breach above this level will validate a run towards $2500 further.
In case of a downtrend, the support levels are at $2280 and $2250 further.
The technical indicators flash a buy signal right now. 12 moving averages flash a buy signal and the RSI is however neutral at 60.4.
Ethereum Network now has 200,000 Validators!
Ahead of the launch of London Hardfork on Aug 4, the network is growing at a faster pace. It now has 200,000 validators. This means that there are now 200,000 validator nodes fully operational. The total amount of ETH staked in the network is now above $14 billion, with over 6.6 million coins staked.
In less than a month, over 20,000 validators were added to the network, bringing the total number of validators to over 200,000 from 180000. As a result, the number of ETH staked on the network has increased. Investors are increasingly staking their currencies in anticipation of the upgrade to ETH 2.0, bringing benefits for validators.