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The most important reasons that make the price ETHEREUM (ETH) is about to reach a new ATH at $ 7,000, later this year

Ethereum is one of the symbols that were closely seen after Bitcoin, which has decreased by more than 5 % since early trading hours. The price has reached the support; A few days ago, it is also the highest level of 2018. This indicates that the ETH prices are currently trading at the lowest levels of generations, and therefore, the bottom part of the procedure may be the prevailing landing near.

The second largest encryption, ethereum, displays a huge power for more than a period that greatly reflects its sustainability with the intent to maintain a healthy height. However, the distinctive symbol tests its highest level in 2018 for the first time since March 2023, indicating that the bottoms may be probably. In addition, the weekly ETH scheme also sambs to a possible reflection, which may refresh a decent escalating trend.

The main thing that must be observed in the weekly scheme of Ethereum is RSI, which has reached a minimum after a long time. Weekly relativity indicators decreased to less than 30 times only several times ago, during the 2018 and 2022 bottoms. Currently, levels have reached a similar range, indicating that the ETH price bottom can be. The second reason for the classification on Ethereum is that the current price has decreased to the minimum price achieved from 2000 dollars.

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The current price slide without the price achieved is a rare event only once before. The last time this happened in March 2020, when the price of ETH fell from $ 283 to 019 dollars. Now that the event happened again, the date is expected to be repeated as well, which may lead to the operation of a large bull of ethics towards a new ATH, and it may exceed 6500 dollars to $ 7,000.

In the short term, the ETHEREUM price slides to less than 2000 dollars towards a lot of eyes you see. Decrease in active titles, burning low fees, and supply after the edge in the interest. Historically, these declines are the way for the main bounces with more than 200 % of the period previously after previous drops, this may be a huge purchase area. Therefore, the price of ETH appears to be at the foot of a huge explosion, which may raise levels near No. 5 numbers soon.

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