Ethereum (ETH) Above the Psychological $200 Mark, Path to $250

Ethereum (ETH) bulls are back. Prices are up 10 percent in the last day and as developers speed up their coding to timely release Ethereum 2.0, the platform's position as a go-to smart contracting arena will only be cemented as prices rally back towards $250 or even $300.

Latest Ethereum (ETH) News

It’s a race to better the end user experience and Ethereum developers are working overtime to prevent being left behind. Competitors are no doubt stepping up but Ethereum as a pioneer network that is completely decentralized with active development is reliant on their pioneer status for conversion. Meanwhile, entrants as Tron and EOS, which are by the way ranked higher that the king, are scalable with high throughput after adopting a different consensus algorithm, the dPoS, introducing super nodes and voting.

Read: Joseph Lubin Maps Out Why Ethereum Will Be 1,000 Times More Scalable In Two Years From Now

Although EOS and Tron are outperforming Ethereum, developers are loyal and statistics indicate that the number of active monthly developers exceed those working in Bitcoin and other altcoins. Perhaps this ramp up is because of Ethereum 2.0 which Vitalik had promised will be rolled out in time, ushering a new era that will see Ethereum scale and handle project demands even without the implementation of off-chain options.

Also Read: Ethereum’s Joe Lubin Hits The Nail On The Head, Says ALL Prices Globally Are Subject To Manipulation

While Ethereum 2.0 or Serenity will be shaping as Ethereum cement its position as the king of smart contracting, some are doubtful of Vitalik Buterin’s word. Messari CEO Ryan Selkis during an interview with a panel in ConsenSys believes supporters will have to wait until 2021 simply because the 18-month deadline, given developer requirement and the depth of the project’s objective, is unrealistic but nonetheless, achievable.

ETH/USD Price Analysis

Ethereum ETH

At press time, Ethereum (ETH) is up a massive 20.9 percent and 10 percent in the last week and day. If anything, this is super bullish and what is clear from all this is that buyers are in control. Moving on, traders should be fine-tuning entries in smaller time frames for simple reasons.

Not only are prices above Apr-2019 highs trading within a bullish breakout pattern with a sharp spike in participation level, underlying momentum is strong as bull bars band along the upper BB. The combination of this mean buyers are firm in control and in line with our last ETH/USD trade plan, the first target should be $250 or higher.

In the midst of all this, we should also note that bears of Nov 2018 no longer hold now that prices are firm above $170—previous resistance now support. Furthermore, at this pace, it is likely that the upswing of May-11 could spur participation that would subsequently pump ETH as buyers thrust prices above May-11 highs towards $250 confirming the bull breakout pattern of Apr-2.

Live Ethereum (ETH) Price:

1 ETH/USD =$203.6889 change ~ -0.07%

Coin Market Cap

$22.62 Billion

24 Hour Volume

$2.39 Billion

24 Hour VWAP

$203

24 Hour Change

$-0.1328

All Charts Courtesy of Trading View—CoinBase

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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Dalmas N
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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