The Ethereum (ETH) Prague upgrade is about to begin. Will it break through 2000 USD? Is the good news all priced in, leading to bad news?
If you only judge from the price perspective, Ethereum indeed seems less impressive compared to Bitcoin in this bull market, but it has fared much better compared to many altcoins. Moreover, comparing prices is meaningless; it is more objective to look at the percentage change.
From a fundamental perspective, Ethereum's current development roadmap has been steadily advancing, and the ecosystem applications of Ethereum are gradually being implemented, all signs are positive.
Just like the rise of SOL in the market, where everyone is talking about defeating Ethereum, what significant applications does SOL have from a fundamental perspective? Does meme count?
Conversely, Ethereum is being adopted by more countries and institutions. Would these people be foolish enough to abandon Ethereum, knowing full well that the costs of developing the Ethereum ecosystem are high? The logic and truth behind this is Ethereum's security, which is something SOL cannot compare to, and it is irreplaceable due to the characteristics of the blockchain industry.
From a technical analysis perspective, the current daily chart of Ethereum shows that the bullish strength is clearly stronger than the bearish strength.
Although Ethereum's performance is currently unsatisfactory, the public seems indifferent to today's Prague upgrade of Ethereum.
Everyone is focused on whether the Federal Reserve will lower interest rates or maintain them tomorrow morning. If a rate-cutting channel is opened, it will surely continue, and in the long run, it is positive news.
For me, thinking contrarily, isn’t such market sentiment also a basis for judgment and an auxiliary indicator?
Shouldn't it be the case that when others are fearful, I should be greedy and buy when no one is paying attention?
So, is it still a question whether Ethereum can break through 2000 USD?
