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Ethereum has generally missed the big crunch of Bitcoin generated last week, with much smaller gains than other digital badets such as Litecoin or Bitcoin Cash. The ETH woke up today and is now over 10% as it approaches critical resistance levels.
ETH is approaching five months
Ethereum woke up and reached just under $ 185 in the last few hours. It finally returned to prices in mid-November, before the big capitulation that had brought the markets down to their lowest level in 18 months.
Ethereum price 24 hours. Counmarketcap.com
The daily volume has increased to $ 8.7 billion, which is the highest level recorded by the ETH for more than a year. Ethereum's market capitalization is close to $ 20 billion, doubling the gap with XRP, which has not done much in the recent past.
Ethereum is reaching a critical stage as it is close to the 200-day moving average, which is traditionally a very high level of resistance.
#ETH just hit the 200-day moving average, keep a close watch on the price action
– ScienceGuy9489 (@ ScienceGuy9489) April 8, 2019
The next major level of resistance if Ethereum does not go back to 200 MA is $ 200. The demand is great, but if the bulls maintain buying pressure on Ethereum, it could reach $ 250 in a very short time;
[7 Apr] $ ETH/ USD was under the Resistance Zone on April 5th and we wanted it to retest Objective 1 ($ 183). Today, he did it.
Now, it will face some resistance up to $ 200. Once this is crossed, the # 2 goal of $ 149 would be highly likely.#ETH #Ethereum #blockchain #Crypto pic.twitter.com/0PTi3mrVNT
– Mihir Naik (@ MihirNaik19) April 8, 2019
The fundamentals remain good
Ethereum has recently been criticized by the media while competing platforms EOS and Tron surpbad it in terms of active dApps. However, the second largest cryptographic badet of the world is not in agony, quite the opposite. Anthony Sbadano, an industry expert, has compared Ethereum's vital statistics since the last time it exceeded 150 USD in May 2017.
Ether reached $ 150 on May 22, 2017 – How has the Ethereum network developed since? pic.twitter.com/woggzoXLkk
– Anthony Sbadano (@ sbadal0x) April 5, 2019
Network growth is evident with just about all metrics significantly higher than they were two years ago. Aside from the prices, the fundamentals of this network are still very strong, but it should be noted that Ethereum did not really have any real competitors in early 2017. No EOS, Tron's or Cardano in May 2017, the top four was exactly the same as today and Ethereum Clbadic was seventh.
According to Trustnodes, nearly half a billion dollars of ETH are now stuck in decentralized applications. DAO's DAI DAI holds the most points with about 2.2 million ETHs, closely followed by Ethereum Name Service (ENS).
Ethereum still has a long way to go and is still in its infancy. The co-founder, Vitalik Buterin, presented the Serenity upgrade as a way to evolve Ethereum into a next-generation platform. Long-awaited sizing solutions and the launch of Ethereum 2.0 will undoubtedly bring the platform back to the competition of its rivals.
In the meantime, traders are planning a new $ 200 hike, but with Ethereum's recent performance, they may wait a little longer.
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