Days we’ve been longing for and good news for Ethereum has arrived. The price of ETH has exceeded $2,000 with this development. Although it is currently at $1,995 at the time of writing, ETH appears to be on the verge of a crucial breakthrough. While Bitcoin aims for $38,000, great news has come for ETH investors.
Why is Ethereum Rising?
iShares Ethereum Trust was recently registered in Delaware. So what’s the connection with the rise? In context, BlackRock’s iShares Bitcoin Trust was registered in a similar way 7 days before filing an ETF application with the SEC. BlackRock may soon apply for a spot Ethereum (ETH) ETF. We have seen what happened when they did the same for Bitcoin, and now it’s time for Ether.
The last-minute development that excites Ethereum investors has helped the price surpass $2,000. The challenging resistance zone is surrounded by strong sell orders by the bears. If the bulls can surpass this zone, they can continue the movement up to $2,200 and then $3,000. More details, along with the BlackRock announcement, are expected to support Ether’s appetite, so if there is no significant loss in BTC, the increase in ETH price is expected to continue.
