Ethereum Price is making a run for $175 but first, eth price chart has to overcome a crucial resistance at $170. With the positive ethereum news that Ethereum core developers are discussing lasting plans for eth hardfork 2019 and beyond eth price which could scale $170 and head straight for a $175 eth price.
Ethereum Price Overcomes Resistance
From eth price chart, the price of 1 eth to usd recently recovered forming key support at $155. Soon after, the Ethereum price grew to above $162 resistance indicated by the 100 SMA. Analysis of eth price hourly chart shows that it breached a key bearish trend at $164 yesterday as it further rose to a 24-hour high of $169. The technical analysis of the eth price chart also showed a tendency to hit $175 later today.
ETH Price Rise as Ethereum Core developers solve eth hard fork 2019 problems
Starting Friday last week, the Ethereum community led by eth core developers has shifted its focus to eth hard fork 2019 especially after the experience of the Ethereum Constantinople hardfork 2019. As Smartereum reported, the developers weighed the option of more frequent hardforks or the usual long period between hardfork as it planned its approach for eth hard fork 2019 and other years.
Some of the advantages of a quarterly network update is that it will help the developers handle changes by separating them and also make it easier for Ethereum Improvement Proposals (EIPs) to be added to eth hard fork 2019. On the flip side, the approach of more frequent eth hard fork 2019 could affect coordination between players and the need to update client software too often. Developer Tim Beiko who moderated the discussion said it was an ongoing issue.
Eth price on Friday when the discussion began was at $161 having dropped from a brief high of $177 the previous day. Now the eth price has risen to around $166 at the time of writing.
ETH Price Today — 1 ETH to USD
1 eth to usd is trading at $166.4 which is about 2% higher than its value as at yesterday. Ethereum is in recovery mode just like the rest of the cryptocurrency market in green. The 24-hour trading volume of ETH is $5.38 billion while its market capitalization is $17.59 billion.
Ethereum Price Prediction 2019
Ethereum (ETH) is expected to break the barrier at $170 and reach crucial support at $175 from where it can pick to $180 and then $200 mark. However, eth price is not yet decoupled from bitcoin which means that eth price prediction 2019 will be determined by bitcoin price prediction 2019. At the moment BTC is still bullish having overcome a bear trend to drop below $5,000 during the weekend. Like bitcoin, Ethereum is also bullish in the short term.
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.