Ethereum is rising towards the $2,000 barrier

The price of Ethereum (ETH) rose by about 2% during trading on Monday, after it regained the $1,900 level, amid improved daily momentum and increasing short position liquidation gatherings near the price, which brought the $2,000 level back into the spotlight. According to Crypto.news data, Ethereum was trading at about $1,912 at the time of preparing the report, up 1.95% during the day, after moving between the lowest level at $1,872 and the highest level at 1,915.

$. Buyers entered near the session lows, pushing the price past the psychological level of $1,900. This recovery comes within the framework of a phase of sideways trading that began since Ethereum rebounded from its lowest level in late June near $1,530. Fed expectations and developments in the Middle East. Market bets on the Federal Reserve raising interest rates declined, after the release of a weaker-than-expected US jobs report last week.

Along with moderate inflation data for consumers. Investors are now awaiting the minutes of the Federal Reserve's July meeting, scheduled for release on Wednesday, for clues on the central bank's monetary policy direction. Traders see a 33% chance of a rate hike in September, down from 51.2% a month ago, according to CME's FedWatch tool. On the geopolitical level, a senior Iranian official said

He told Reuters that Tehran will escalate tensions in the Strait of Hormuz and across the region if diplomatic efforts with the United States collapse, indicating a shift toward a more offensive approach. The $2000 level is a major test and despite the short-term improvement, the long-term pressure has not disappeared; Ethereum is still trading below its 200-day moving average, which is around $2,009, making the $2,000-$2010 area more of a test.

Significance of just surpassing the $1900 level. Liquidation pools are growing on both sides of Ethereum The week-long map of liquidation pools on CoinGlass shows the nearest large leverage pool above Ethereum near $1,925. A stronger block of liquidity appears between about $1,945 and $1,950, with additional liquidity extending toward $1,960. Breaking above $1925 could force some short positions to close, adding buying

to the existing demand. If the price succeeds in crossing the $1945-1950 range, the move towards the upper levels of the $1900 range may accelerate.

Chicago Board of Trade (CBOT) corn futures rose Monday, as traders awaited the launch of the Pro Farmer Crop Round this week, which is expected to provide additional data on corn and soybean crop yields.

Gold prices rose on Monday, supported by a weaker dollar

Expectations for the US Federal Reserve to raise interest rates are declining.

Experts warned this week that the caves where the US stores its strategic petroleum reserves could be damaged by the rapid drawdown of stockpiles in response to the war with Iran, with reserves reaching their lowest level in four decades.