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Ethereum tests $1,950 for first time in seven weeks; what could drive a rebound to $2,100?

Ethereum tested the $1,950 level for the first time in seven weeks, extending a short-term rebound. The move triggered $62 million in liquidations of leveraged short positions, Cointelegraph reported. Ethereum rose 29 percent from its June 26 low of $1,500 as risk appetite improved across crypto markets. Still, on-chain demand, network revenue and volumes remain weak, while funding rates have not held neutral levels consistently.