After weeks when virtual currencies were declining and reaching new lows in over a year, it seems that analysts are changing opinions on Ethereum (ETH). Since reaching the fund a few weeks ago, close to $ 82, Ethereum has almost doubled its price and remains bullish for the future.
Why did the sentiment change for Ethereum? L & # 39; imminent Fork of Constantinople it seems that it is playing an important role in influencing the prices of Ethereum. This hard fork is expected to take place on January 16 and will reduce the blocking premiums for miners from 3 ETH up to 2 ETH. This will have a positive effect on the price of ETH since there will be less sales pressure in an activity that has had several natural sellers during 2018.
It is important to remember that Ethereum had two difficult months in November and December. It fell from $ 220 to $ 82 and lost its position as the second virtual currency in the market.
Cryptocurrency analyst Alex Krüger said the next resistance is close to $ 175. This price is currently 12% from where we currently stand.
It is not possible to predict levels. The first R is 175 areas. I would be happy if I could get out of what I added around today.
– Alex Krüger 🇦🇷 (@Crypto_Macro) January 4, 2019
Crypto Dog, a well-known Twitter analyst with over 100,000 followers, shared his bullish view on Ethereum. He wrote that the difficult fork would push the price of Ethereum much higher than it is currently. However, he acknowledged that a voice at these levels, for him, is difficult to justify.
– The Crypto Dog📈 (@TheCryptoDog) January 4, 2019
In a recent YouTube video, analyst Crypto Bobby said he was bullish on Ethereum in the short term. Virtual currency is receiving a lot of attention before its hard fork and this is pushing prices upwards.
It is important to note that, in general, before a difficult fork, virtual currency prices tend to grow. People are generally enthusiastic about the new updates or, in some cases, the new coins they will receive in the event of a chain split.
At present, Ethereum is the second largest digital currency in the market. It has a price of $ 157 and a market capitalization of $ 16.41 billion. The XRP lagged behind with a market capitalization of $ 14.55 billion when a few weeks ago XRP surpassed the Ethereum of over $ 2 billion.