Ethereum had a rocky season last year. However, in the beginning of this year, the Ethereum price prediction 2019 became positive as it increased significantly against the USD heading for the resistance at $200. However, due to the general correction in the market, the price of Ethereum was unable to break the resistance at $200. After trending sideways for many days, the price of Ethereum fell from the $183 level to the $165 level along with other cryptocurrencies. Now, the latest Ethereum price forecast in U°Today suggests that Ethereum will hit $375 within the next six months. Will Ethereum recover to $375 in six months?
Ethereum Price Prediction 2019 – Ethereum Price Forecast – Ethereum May Hit Higher Highs Soon
Before Ethereum was deployed, the Ethereum development team anticipated many possible weaknesses on the blockchain that would occur as the network expands. The result of these weaknesses was a lack of scalability. As the world’s foremost decentralised computer with many use cases, it was only natural for Ethereum to attract users. However, the blockchain wasn’t created to scale. This led to congestion and slow pace of transaction processing. This is why the Ethereum development team created a roadmap of gradual upgrades that would be put in place one after the other until the network becomes more scalable. The last part of the upgrade is Serenity or Ethereum 2.0 and it is expected to be the final version of Ethereum.
Ethereum (ETH) Price Today – BTC / USD
Even after the Serenity upgrade is implemented, the crypto fuel, Ether, will still be used as gas to run the blockchain. Those who create dApps on Ethereum will still need to use the ETH token. People who have no interest in using the technology but simply want to profit from the token will always be able to trade ETH. All these factors contribute to the Ethereum price prediction 2019. When the network becomes more scalable, more people would use the blockchain and this would increase the demand for ether. An increase in demand will lead to a rise in price. With the final upgrade set to happen in 2020, the market is already responding with a renewed interest in ether. Now, the price is expected to keep increasing throughout the year.
Ethereum News – Ethereum Price Prediction 2019 – Ethereum Price Forecast And Ethereum Current Price
When the price of Ethereum hit $83, analysts agreed that it had bottomed out. Since then, it has been reaching higher and has been relatively bullish. The weekly MACD, one of the technical indicators, is bullish. If it continues to move upward, the price of Ethereum will hit $375 in the next six months. Even if the resistance at $165 was broken, the bulls are still in control of the market. This kind of resistance break is typically followed by buying pressure which would support an upward price movement.
At the time of writing, Ethereum was trading at $163.83. This shows that it is down by 0.13% against the USD and down by 0.30% against BTC. The trading volume over a 24 hour period is $4,705,080,606 and the market capitalization is $17,309,778,085. Bitcoin and many other cryptocurrencies are also trading in red at the moment. The sell off started two days ago and it’s not clear how long it would last.
What do you think about the Ethereum price prediction 2019 in the Ethereum news today? Do you think the $375 Ethereum price forecast will happen? Share your thoughts in the comment section.