ETH Rally for $ 250 with hood for $ 170

Price analysis of Ethereum: ETH Rally at $ 250 with hood at $ 170

Latest news on Ethereum

Progress is slow, measured but safe. This is the way in which Ethereum and months after slipping into third, fundamental developments have ensured that the rebound was strong, moving the XRP from the second point. Obviously, this dethronement has left a bad taste in XRP shillers, which so far have been able to influence CZ to make it stand in the background of an assertion that the largest encrypted exchange in the world may have received bribes to apparently satisfy the demand for users.

To read: Crypto Token's ICOs are under fire, but traditional IPOs are also experiencing difficult times

Meanwhile, and behind organic development, Ethereum as an ecosystem and ETH as a currency is a delirium behind the increase in demand. In a little over a week, Constantinople will come out and if there is a general consensus, the complete transition means that there is another step towards Serenity. Apart from this, among the developers of Ethereum has been reached an agreement for the implementation of the ASIC-resistant GPU that will give priority to decentralization with respect to centralization, a case in which Bitcoin is struggling with the moment.

Read also: The Tron Network receives a new "EtherGoo" game that previously worked on top of Ethereum

According to reports, the successful meeting held on January 4 approved the implementation of ProgPow, a better test of the GPU-dependent work system that had been successfully tested by the customers who ran the Gangnam TestNet. In addition to making it more difficult for ASICs to take over the network at least for the next year or more, developers have managed to stabilize hash rates and at the same time urge updates to ProgPow.

Price analysis of Ethereum (ETH)

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The trend is clear: the ETH bears are controlled by a top-down approach and at current prices, the ETH is at the limit, a precipice. Adding 12.5 percent in the last week, ETH is one of the best and short-term prices mainly depend on how the bulls will react to $ 170. From the candles arrangement, $ 170 is the previous support now resistance.

As a level that marks the day when ETH owners are shipwrecked by handing out and eventually breaking below the above-average volumes on November 18, any of the above interruptions will change the bearish momentum to bullish by canceling the pattern of breakage. that the pair ETH / USD is At the moment there is no doubt that the market is positive and with steady gains since mid-December 2018 and the expectations of Constantinople, ETH could collect and even print $ 250 by the end of the first quarter of 2019.

However, prudence requires conservative traders to open the position only when prices exceed $ 170 in line with previous ETH / USD trading plans. Only then do you want to buy ETH on recalls with the first goals at $ 250 and then $ 400.

If our conditions are met, this will be our ETH / USD business plan:

  • Buy: spot, $ 170
  • Stop: $ 150
  • Target: $ 250, $ 400

All graphics courtesy of Trading View

Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.

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