Value-Invest

ETH Confirming New $2,200 support level

Long
KRAKEN:ETHUSD   Ethereum
In the second financial quarter of 2021, the Ethereum network settled over $2.50 trillion in transactions, Although development and interest in the Ethereum platform have only increased in Q2, ETH’s price has not reflected that growth as we sit down over 50% from highs. There is a Ethereum EIP-1559 Upgrade Slated for Aug 4 Deployment, the proposal would dynamically burn fees which would also have an effect on the ETH supply. This should eventually reduce issuance over time when proof-of-stake gets underway. In translation this would cut supply of ETH which could have significant effects on ETH price. We also just broke through a crucial level of support around $2,400 I think we hold this level and trade up to around 2,900 in the short term. Long term I believe ETH.X moves much higher, as its the most functionally useful crypto given DEFI, NFTs and 2/3 of stable coins run on the ETH blockchain. I'm Long!

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