Ethereum Price Analysis $2,500 | In this article we will be taking a look at Ethereum’s price action for the last week and what the charts are telling us about the ETH price.
Ethereum price analysis for the week of September 15th, 2018. Ethereum price analysis for the week of September 15th, 2018.Summary of the situation
- Ethereum price analysis shows a 5% increase in ETH.
- According to Ethereum developers, an update for the hardforward in London is coming in a few weeks.
- London Hardforward’s update promises to increase NFT’s market capitalisation by about a factor of five.
The world’s second most valuable crypto asset, Ethereum, has risen 5% in the past 24 hours, breaking through the $2,300 mark once again. At the time of writing, Ethereum is trading at around $2,380 and has a market cap of $277 billion.
Ethereum Price Analysis: Price Overview
In conducting this analysis of Ethereum prices, we noted that the recent 5% jump in Ethereum prices occurred after the announcement of the London Hardforward update. Tim Bako, an Ethereum developer, has hinted that the market should expect an update within the next few weeks. The update will launch early next month with a block of 12,965,000.
Although the update has caused some backlash in some circles, Tim confirmed that most Ethereum customers have already given their approval. However, the cryptocurrency market will have to wait for the final decision to be made this Friday at a scheduled meeting of the major developers.
According to the previous Ethereum price analysis, ETH is currently trading in a bearish configuration. If the crypto-currency stops its current rise and goes down, it could dip into a demand zone. If this happens, market participants should expect Ethereum to jump into this area, and if all goes well, the $3,000 resistance level could be tested again.
Ethereum price movement in the last 24 hours
At the time of writing, the price of Ethereum has broken through the 50% Fibo retracement level at $2,365 and is trying to reach higher highs. However, looking at the price movement of Ethereum since the 23rd. June, it is clear that the crypto-monet has recorded 3 higher highs and 3 lower lows. If you connect their swing points with trend lines, a rising wedge will form.
Most bullish orders are bearish, and in Ethereum’s current situation, a 15% price decline is likely if the cryptocurrency ends the day near its lower trendline. At the $2,296 slash is currently the lower trend line.
In any case, market participants should pay attention to the demand zone, which extends from $2,040 to about $2,110. This area is not only a demand area, but also acts as a support area to stop any significant selling wave from the rising wedge pattern. Moreover, this area could trigger a resumption of Ethereum’s sustained upward march towards the $3,000 mark.
If the above scenario occurs, ETH is likely to rise 15% before hitting resistance at the midpoint of the pattern at $2,360. A breakout of this price level would open the door for Ethereum to reach the next closest supply level around $2,461 and $2,642. In an extremely bullish scenario, Ethereum could reach the $3,000 mark.
Ethereum Chart 4 hours Benefit from good customer pressure
When setting up this Ethereum price analysis, it was noted that Ethereum is currently showing bullish momentum on the 4-hour chart. For example, the MACD (Moving Average Convergence Divergence) indicator shows that ETH is bullish: the blue line is well above the signal line. As for the relative strength index, Ethereum is currently at 63, indicating that the cryptocurrency is under good buying pressure.
While the market is waiting for the London Hardforward update, it should be noted that this update is part of a larger plan to implement Proof-of-Stake 2.0 Ethereum in the future. The London Hardforward update promises new gas tariffs, reduced congestion, increased safety and other improvements if implemented.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.
Frequently Asked Questions
Will ethereum reach 1000 again?
No, it will not.
What will ethereum be worth in 2030?
The price of ethereum is difficult to predict, but it is likely to be worth more than $1,000 in 2030.
What will ethereum be worth in 2020?
Ethereum is expected to be worth $1,000 in 2020.
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