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- Ethereum price over $ 170
- Growing competition means that Ethereum 2.0 must be launched at the moment despite the advantage of the first-come
Morpheus Labs, Cardano, Binance, Tron and EOS are fierce competitors. As a result, Ethereum encoders accelerate their development, which means that Ethereum 2.0 will be launched on time, with ETH prices exceeding USD 250 around USD 1500.
Ethereum Price Analysis
fundamentals
Ethereum is without a doubt a large-scale project supported by an ultra-high distribution, which means that it works in the principles of the blockchain. Due to this strong decentralization and the consensus achieved through the validation of the work, it is secure, the currency in ETH being a public service and not in compliance with the criteria of the investment contract of Howey Test.
Nevertheless, due to the chain of Trilemma chains, Ethereum is slow and evolutionary. With a low rate of about 15 GST during periods of low activity, falling to 7 GST during network peaks, the team is working overtime to solve this problem.
Conscious that similar platforms promise their users speed and scalability, while sacrificing decentralization to centralization, as in the case of EOS with 21 Block Producers or Tron with 27 Super Representatives, Vitalik and his team are considering to launch Ethereum 2.0.
To achieve this, Ethereum also needs to introduce a new virtual machine and move from energy-efficient but proven proof of work to a picket system similar to Cardano's, which will also come into effect in Goguen.
However, given the very nature of the operation and the level of decentralization that require consensus for any form of update or flexible fork (what we have learned is controversial), Vitalik's promise of timely implementation wanted risk of not succeeding, which would have a negative impact on the price.
Chandelier arrangement
As far as prices are concerned, Ethereum (ETH) ranks among the best in the top 5, adding 3.9% on the last day. At this rate of expansion, the performance is above average, but we expect further gains in the next few days.
Note that Ethereum (ETH) prices for the second time this month are trading at over $ 170, meaning the bulls have regained control by reversing Q4 2018 losses.
As a result, and in line with our previous ETH / USD trading plan, traders should pull themselves to the margins of their margins with first goals at $ 200 or more. However, it would be satisfying for bulls to raise prices above April 8's highs, completely reversing April 11's losses and setting off the next wave of higher highs that will consolidate its position in second place.
If this is the case, April 2 buyers will be, and the way for $ 250 would be on.
Technical indicators
Although Ethereum (ETH) is over $ 170 – depending on BitFinex flows, our short-term anchor bar is April 11th. As mentioned above, gains over the April 8th peaks of $ 190 must be in excess of $ 336,000.
Chart courtesy of Trading View
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