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ETH The key node of Ethereum: Can the price exceed US$1900?
BitMEX co-founder Arthur Hayes significantly increased his holdings in Ethereum
BitMEX co-founder Arthur Hayes recently purchased 1290 ETH units worth approximately US$2.5 million. This large transaction was completed through well-known digital trading platforms Cumberland and FalconX, reflecting a significant shift in institutional interest in Ethereum.
Can Ethereum break through current resistance?
Ethereum is currently hovering near the $1900 mark-a key resistance level that has become the focus of heated discussions in the market. Judging from recent price trends, Ethereum continued to record gains in July after recovering from its June low. However, the cryptocurrency still faces strong resistance, with bears firmly guarding the area below $1900.
Market expert Ted Pillows said that if Ethereum can break through the US$1900 barrier, it may usher in a major market. If we can stand above this resistance level, it may hit the target level of $2000 or even $2200 if the upward momentum continues.
Ethereum has recently rebounded from a June low, but still encountered strong resistance below $1900. If the price can successfully break this barrier, the next targets will be US$2000 and US$2200.
Can Ethereum's growth continue?
The latest data shows that developer activity on the Ethereum network is still strong. The number of smart contract deployments has risen sharply, with a single-day peak exceeding 300,000 times, indicating that the ecosystem remains vibrant. Such activities demonstrate developer investment and imply inherent potential beyond price fluctuations.
Developer activity remains a positive indicator of the health of the Ethereum network, providing a buffer for market uncertainty and supporting the expansion of blockchain.
As Ethereum consolidates at key technology points, large investors have begun to take advantage of this momentum. Hayes 'increase in holdings is a reflection of this trend, indicating that the market is paying close attention to potential breakthrough opportunities for Ethereum.
Ethereum must convert the US$1900 resistance level into support to stimulate further upward momentum. If successful, market participants expect the target to be $2000 or higher. If you cannot break through the resistance level, you may face the risk of a correction to around $1700.
Amid uncertain price trends, the interaction between network activity and strategic investor placement continues to support Ethereum. Ethereum's momentum still depends on whether it can break through key resistance levels, and the market is looking forward to a more optimistic outlook.
