Ethereum’s EIP-1559 & Stimulus Checks Could Send ETH Back Above $2k

Quick take:

• Ethereum’s EIP-1559 is scheduled for implementation this July during the London hardfork
• EIP-1559 includes the implementation of a BASEFEE that will be burnt with each transaction
• Burning of the BASEFEE makes Ethereum a deflationary asset
• EIP-1559 coupled with incoming $1,400 stimulus checks, could send Ethereum back above $2k

Ethereum’s EIP-1559 is scheduled for implementation this July alongside the London hard fork. EIP-1559 is designed to solve the issue of high fas fees experienced on the Etheruem network during times of demand by doing

$1.9T Stimulus Bill Could Send Ethereum Higher

From the chart, it can be observed that the price of Ethereum is back above the 50-day moving average (white) thus hinting of a continuation to higher levels. Additionally, trade volume is in the green with the daily MACD, MFI and RSI hinting of a bullish few days for Ethereum in the markets.

Also worth mentioning is that the US Senate the $2k price area is very much possible in the days and weeks to follow.