Ethereum price tests $1,900 level

Over the last 24 hours, the second-largest cryptocurrency by market cap rose 12.8%, according to CoinGecko.

Ethereum price reached a local high at $1,918. At the time of writing, the asset was trading around $1,895.

Over the past seven days, Ethereum’s price rose 17%, over 30 days — 72.8% (according to CoinGecko).

The rise comes amid the Goerli testnet’s transition to the Proof-of-Stake algorithm.

The activation of The Merge in the Ethereum mainnet is expected in September.

Bitcoin also posted solid gains — 7.4% over the past 24 hours. The asset traded around $24,540.

Analysts at Arcane Research noted the continuation of a sequence of rising local lows for digital gold.

They see the next target after the $24,000 level in the range of $27,000–$28,000.

Total market capitalization at the time of writing stands at $1.21 trillion. Bitcoin dominance index at 38.6%, with Ethereum at 18.8%. In July, Ethereum rose 56%, and Bitcoin added almost 17%.

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