• The price of Ethereum (ETH) has dropped slightly to $1,954 as the cryptocurrency market rises by 0.5%.
• ETH is up by 83% in the last 12 months but holders are hoping for a long-awaited ascent to $2,000.
• Trading indicators suggest that there may be more buying pressure soon, although a dip before it can break through $2,000 cannot be ruled out.

Ethereum Price Dip

The price of Ethereum (ETH) has dipped slightly today, dropping to $1,954 as the cryptocurrency market as a whole rises by 0.5% in the past 24 hours.

Long-Awaited Ascent

ETH is now up by 4% in a week and 13% in the past fortnight and up by 83% in the last 12 months. However, ETH holders are now hoping for the altcoin to make its long-awaited ascent to $2,000, which it hasn’t held since April.

Indicators Pointing Upwards

ETH’s indicators are currently pointing upwards; its relative strength index (purple) has begun pointing upwards again after dipping a little from 70 and its 30-day moving average (yellow) is still rising higher above its 200-day average (blue). Additionally, ETH’s support level (green) has risen considerably over the past couple of weeks.

Uncertainty Around Breaking Through $2000

It’s unlikely that ETH will reach $2000 in the short-term given current market instability and other milestones – such as Wall Street Memes (WSM) hitting $12.5 million – are likely to happen first. Because ETH’s indicators have been high for several days, it can’t be ruled out that it suffers a dip before breaking through this mark either.

Wall Street Memes Presale

Investors who wish to make profits on altcoins could look into presales instead; one example being Wall Street Memes’ token offering which has raised more than $12.4 million since launching last month.