Ethereum’s (ETH) London hard fork went live yesterday to provide further momentum to ETH’s current rally.
ETH Price crossed the $2,800 levels for the first time since May. However, it pulled back briefly to close at $2,770, registering 14 percent weekly gains.
This hard fork is also one of the network’s most significant upgrades in its six-year history. Crypto enthusiasts and investors are looking forward to the upgrade while keeping an eye on the implementation for signs of how the changes will affect the price.
The bulls in Ethereum are putting up a strong battle to go to $3000. The preponderance of short-term market indications points to a strong buy, implying that buyers have the clout to push the surge toward $3000. Massive buy orders will drive a rally towards $3000 if the current upswing lifts ETH to $2800.
On a longer time horizon, the leading altcoin has challenged the $2,500 liquidity zone before rebounding.
On the off-chance that ETH falls, it will revisit $2400 support before consolidating at $2500.
According to the popular analyst, Micheal van De Poppe ethereum Has not yet cracked and flipped the resistance at $2,850-2,925 yet. He believes that these levels are important and most necessary to flip in order to continue toward ATH’s.