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This week was entirely devoted to Ethereum. Finally, the second largest crypto asset on the planet seems to move without the influence of its big brother who dictates things. EPF prices are on the rise again today and fundamentals continue to improve.
Ethereum Golden Cross
It was another good day for Ethereum prices, which finally reached the psychological level of $ 200 after a month of trading. The decline in the 50-hour moving average, which was just under $ 190 yesterday, was short-lived as the price rebounded quickly.
The return to just under $ 200 is the highest level of Ethereum since last month. A slight decline brought the ETH down to $ 197 at the time of writing this report, and it must exceed this barrier before its next comeback.
ETH 4 hour price – Tradingview.com
A gold cross is clearly visible on the four hour chart while the fastest 50 MA crosses above the slowest 200. This is a bullish trend reversal signal and is usually followed by a rally. However, one analyst noted that the total market capitalization has not increased, indicating that no new money is yet in ETH.
"The ETH is up, but the total market capitalization of cryptography remains stable, the price increase could simply consist of a transfer of money from other cryptos rather than cash. Waiting for TMC to exceed $ 260 billion "
ETH is up, but the total market capitalization of cryptography remains stable, the price increase could simply consist of a transfer of money from other cryptos rather than cash. Waiting for TMC to exceed $ 260 billion
– Etherdamus (@Etherdamus) September 17, 2019
Others hope that Ethereum will be able to kick-off to a wider altcoin, as Bitcoin seems to be lacking in buyers. For the moment, the rest of the altcoins are flat or in the red, but the possibility of a decoupling of ETH will be strengthened if it can cross the $ 200 barrier.
BitPay adds support
The news that the provider of crypto-payments, BitPay has finally added Ethereum support is also on the rise. In a press release, the company said that companies could accept Ethereum for purchases without requiring any integration or improvements. Originally, only BTC, BCH and some Stablecoins were available on the platform.
Ethereum's sponsor, Vitalik Buterin, is satisfied with this announcement.
"It's exciting to see BitPay leading the way by integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem and together we can continue to be a leading innovator for the actual use cases of crypto-currencies. "
The news adds to other bullish fundamentals for Ethereum, such as Santander's $ 20 million bond on the blockchain last week, the DeFi ecosystem's evolution for DAI and the successful test of the ETH 2.0 customer network.
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