Ethereum is continuing to move in a positive trend. After reaching around $ 1088, it fell all the way to $ 920 and then again, it has risen to $ 1180. Thus, you can be sure that actually, Ethereum is in a positive uptrend and this uptrend is surely going to continue.
The current market cap of Ethereum is around $ 105 billion. Ethereum is now the 2nd most valued cryptocurrency. The trading volume of Ethereum is also going strong in the neighborhood of $ 4 billion every 24 hours. This is one of the main reasons why Ethereum is gaining more and more value as well. Also, Ethereum is not just being used by the investors but it is also being used to create new ICO’s as well. This is one of the main reasons why Ethereum is gaining more and more in value. Moreover, it has created a unique solution for its investors owing to which, the demand for Ethereum is actually not decreasing.
Problems with Ethereum:
One of the main problems with Ethereum is the scalability. The Ethereum developers are not exactly addressing this problem. This is one of the main reasons why it is not able to have a runaway rally but rather is having the more subtle rally which is more than welcome by the investors who are witnessing losses in other cryptocurrencies.
Stability in Ethereum:
One more reason why investors are flocking to Ethereum is because, in this bear phase, Ethereum is actually showing some stability. Owing to this very reason, the confidence of investors in Ethereum is also increasing. Moreover, even in the downtrend, the volume on Ethereum was pretty strong. Owing to this very reason, many investors believe that the institution-based interest in Ethereum is not decreasing at all.
As a result of all of these factors, you can be sure that in the future, it would be able to breach the older highs as well. If indeed, it is able to do so, you can be sure that it would be able to expand on its market cap and it would be able to increase significantly in price as well which would benefit the current investors as well as the people who are investing currently.
With the increasing trend continued, most of the investors are holding their cryptocurrencies owing to which, the bias is more on the buy side rather than the sell side. This is further inducing movement in the current Ethereum rally.
Ethereum price gaining momentum. While most of the cryptocurrencies are languishing far away from their all-time highs but Ethereum has bridged the gap between its price a week ago and the all-time high. It is just $ 100 away from the all-time high. Also, the news around Ethereum refuses to die down. Fortunately enough for the investors, the news is entirely positive as well which is actually good for the investors.
Ethereum price support:
While earlier, Ethereum took support at the price of around $ 900 per token but since then, it has crossed even is $ 1020. The next major resistance currently for the cryptocurrencies along with $ 1062. This is the 61.8% Fibonacci retracement level. Since then, it is crossed to that as well. Therefore, since then it is just $ 100 away from the all-time high.
The trigger, in this case, was the news from the Davos that many of the companies are actually discussing this cryptocurrency.
The applications of Ethereum are much greater
Currently, the applications of Ethereum are much greater as compared to some of the other cryptocurrencies. Even when you compare it with ripple, you would realize that the application of Ethereum is actually much more widespread. Also, Ethereum mining is currently profitable as well. Owing to this very reason, there are plenty of miners who are trying to lend the processing power of the mining rigs in order to on Ethereum. This is one of the main reasons why the demand for Ethereum is also pretty high.
More and more ICO’s as well as companies are trying to use the Ethereum blockchain
Also, more and more ICO’s as well as companies are trying to use the Ethereum blockchain as well in order to make it easier for them to sell products as well as services to their customers. This is one of the main reasons why the demand for Ethereum is increasing.
Ethereum is actually able to cross the older highs
It remains to be seen how soon, Ethereum is actually able to cross the older highs. For now, however, it has already rallied around 15% to 20% from the levels at which it was just a week ago. Therefore, in this bear phase in cryptocurrency market, Ethereum is surely outperforming. It remains to be seen whether some of the other cryptocurrencies also gain some momentum. For now, however, it seems like Ethereum is the only cryptocurrency which is actually gaining some momentum due to the news flow around it.
As the applications of Ethereum increase more, one thing which is for sure is that it might be able to cross the older highs as well. If it does that, in the next few days it would be the 1st major cryptocurrency to hit new highs.
Ethereum Price Today USD: Ethereum just $100 away from new all time high. Ethereum has started new week a little bit down. But ethereum has been hogging the limelight for quite some period of time. This is one of the main reasons why more and more investors are thinking about investing in Ethereum. As of yesterday, Ethereum is just $100 away from its all-time high. It remains to be seen whether it is able to cross the older highs are not.
What next for Ethereum?
As Ethereum surges to near all-time highs, the question which is being asked by most of the cryptocurrency investors is what is the next step for Ethereum? The truth is that it was not long ago that Ethereum was trading around $1325. Ever since then, it fell all the way to $ 900. That is why people are again asking the question whether Ethereum would rise more or whether it would just stay at the current levels.
The truth is that the volumes in Ethereum are increasing. In the last 24 hours, Ethereum volumes have increased to $ 5.18 billion. Thus, you can be sure that more and more investors are actually pouring money into Ethereum.
When you look at some of the other cryptocurrencies, they are still trading much lower as compared to their previous highs. However, the difference is that Ethereum has actual application as compared to rather being just a cryptocurrency. This is one of the main reasons why Ethereum is increasing in value once again.
More and more companies use the Ethereum blockchain
Also, more and more companies are trying to make use of the smart contracts system of Ethereum as well as the blockchain which is powering the Ethereum cryptocurrency. As more and more companies use the Ethereum blockchain, you can be sure that the value of the cryptocurrency would also increase more. This is one of the main reasons why Ethereum is again increasing in value. You need to also keep in mind that when it comes to the value of Ethereum, trading volumes, the price would certainly increase further. This is one of the main reasons why Ethereum is gaining more and more prominence as well.
It is close enough to make new highs as well
Even though since then, it has fallen around 5% from the recent highs but still, it is close enough to make new highs as well. This is one of the main reasons why Ethereum is starting to rise again and is slated to make new highs once again. This would actually mark a turning point for the cryptocurrency as it has been gaining much more limelight as compared to even Bitcoin.