Will Ethereum (ETH) drop to $1800 or keep rising toward $2,500?

The Present time of Ethereum Owners!

Ethereum is seeing strong opposition as it gets closer to the $2,500 mark, and 75% of ETH investors are already holding, according to IntoTheBlock. The top on-chain analytics company said that while profit-taking may be anticipated at these prices, given Ethereum's long-term prospects, a major decline is unlikely to result.

Thus, given the favorable prognosis, there is a significant likelihood that ETH will rise to the $2,500 zone, according to IntoTheBlock's research. IntoTheBlock's data show that there were 77.72 million lucrative Ethereum addresses and 21.91 million unprofitable ones. Renowned cryptocurrency researcher Ali Martinez pointed out that although Ethereum has lately regained the $2,000 mark, whales have not yet begun purchasing, indicating that they are not included in this mix.

The Impact of Ethereum's Increase

The Ethereum network is seeing an upward trend as a result of this circumstance since whale purchases have the potential to push ETH prices higher. Given that the second-largest cryptocurrency was trading in this range in July of this year, the $2,000 price level may suggest that Ethereum gained support from its greatest level in the previous four months.

Ethereum is expected to be in the $2,000 range right now since BlackRock, the biggest asset management in the world, applied for the iShares Ethereum Trust in Delaware. This trust is similar to a well-liked spot Bitcoin exchange-traded fund (ETF).Additionally, Ethereum has shown that its ecosystem has a holding culture, as seen by the recent historical lows in ETH supply on exchanges. As of this writing, ETH has increased by 12% to $2,079, according to CoinGecko. Thus, it remains to be seen if Ethereum will reach the new all-time high of $2,500.