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- Ethereum prices on an uptrend, add 16.9 percent last week
- Volumes could increase if ETH exceeded $ 170 as a result of high trading volumes
Bloomberg says Ethereum is out of breath and Vitalik confirms his findings. But it is planned. Competition is intensifying and others are launching faster and scalable platforms. At the same time, Ethereum (ETH) is lagging behind and on the verge of closing above $ 170 for the first time since November 2018.
Ethereum Price Analysis
fundamentals
Despite criticism, Ethereum is the market leader and the pioneering smart contract platform. This was the first project to introduce a smart, unauthorized, and popular contract capacity with developers. Since Homestead, progress is positive and evolution is now going towards proof of the issue of serenity. There is also Ethereum 2.0 and the community is undoubtedly satisfied with what lies ahead.
However, in their progress – and in order to consolidate their leadership position in the smart contract market, similar projects have emerged. Projects such as DFinity, EOS and Tron, for example, promise to segment badets, but with better throughput and a scalable platform. The competition is so tough that Vitalik admits she is slipping. His honest vision is visible when CCID in China ranked the project third behind EOS and Tron.
But there is no better comparison than the results of Google Trend in organic farming. In a tweet, a user, Misha Remarks Tron, Ethereum's competitor, is on demand thanks to BitTorrent and its powerful ICO which, in turn, generates a volume of badet exchanges at the expense of Ethereum.
Chandelier arrangement
Development in the chain is indeed positive and, secondly, Ethereum (ETH) is underperforming. The second most valuable coin is up 16.9% last week and 2.5% the day before, which means the bulls are back while the ETH enjoys the juice flow Bitcoin.
Nevertheless, ETH is lagging behind and unlike other badets such as Bitcoin or TRX for example, the coin struggles to cancel fourth-quarter losses. This means that the ETH trades below $ 170 while the underlying dynamics is high. It's easy to see. The ETH's bullet-proofs are aligned along the upper BB and, as the bulls intensify, the upper and middle BBs diverge.
In accordance with our latest ETH / USD trading plan, aggressive traders can accumulate margin in shorter time frames, but it is only after the close of the bulls above $ 170 that conservative traders and risk averse traders will be able to align with targets of $ 250. In doing so, the ETH will be free, fencing over a four month resistance trend line and the resulting tailwind would easily propel prices towards $ 250.
Technical indicators
The buying momentum is strong and we expect an increase in volumes once the ETH bulls have closed above US $ 170, which represents a downward trend. Ideally, any close above $ 170 must be on high transaction volumes over February 24, above $ 880,000 and above April 2 at 575k.
Chart courtesy of Trading View
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