Ethereum (ETH) Price Heads for the $200 Level After CFTC Declares Interest in Ethereum Futures Contract

ethereum price increase

There is a sharp price correction going on in the digital currency market at the moment. All the top digital currencies in the market are currently in the green. The price of Bitcoin (BTC), which was trading close to the $5,800 level, is now trading close to the $6,300 after an increase of more than five percent. The crypto market recently plunged after the majority of coins in the market tested a new yearly high on the 1st of April. The price of Ethereum (ETH) was also on the list. However, over the past day, Ethereum is the highest gainer among the top 30 cryptocurrencies in the market. The price of Ethereum is up by more than 12 percent over the past day, breaking the short-term Ethereum price prediction 2019.

Ethereum (ETH) Price Today – ETH / USD

NamePrice24H %
ethereum
Ethereum(ETH)
$3,115.47-2.08%

The massive surge in the value of the digital currency is attributed to the bullish Ethereum news today. Bullish crypto news is what’s keeping cryptos in the market going. Ethereum (ETH) wasn’t carried along in the recent sharp rally that drove the price of Bitcoin (BTC) over the $6k level. Perhaps there was no bullish Ethereum news or Ethereum price prediction to ignite the rally. However, ETH USD price is now performing better than the majority of the coins in the market, thanks to the recent bullish Ethereum news today.

CFTC Is Considering an Ethereum Futures Contract – Will the Price of Ethereum Hit $200 In the Coming Weeks?

The price of Ethereum just woke up to join the race of rallying digital currencies such as Bitcoin. The digital currency was waiting for some strong fundamentals. Fortunately, the fundamentals just arrive and the price of Ethereum on the way. Recently, CFTC (Commodity Futures and Trading Commission) declared its interest in Ethereum futures contract. The commission made this known in an interview with CoinDesk, and they said they are ready to consider Ethereum futures.

The commission will be comfortable with an Ethereum derivative in their jurisdiction, says a senior official that chose to be anonymous. In a statement, the regulator said:

A derivatives trading platform comes to us and say ‘we want to launch this particular product.’ If they come with a particular derivative that meets our requirements, I believe there is a good chance that it would be [allowed to be] self-certified by us.”

Ethereum Price Analysis – Ethereum Price Prediction – Ethereum Price Forecast – ETH USD Live Price – Ethereum News Today

 The price of Ethereum quickly responded to the bullish Ethereum news as expected. Ethereum has been waiting for a bullish momentum all this while. Even the Constantinople Ethereum news didn’t have as much impact as this. The price of Ethereum surged by more than 30 percent last month, but the digital currency wasn’t able to hold gains.

But many digital asset investors and traders have been expecting this price rally. The ETH USD price surged from around the $160 level to over $180 in less than a day, an increase of more than 12 percent. The daily trading volume of the coin also skyrocketed. The immediate resistance of the coin is at the 200 EMA and it needs more traction to break over this level. What is Ethereum price prediction for May? If Ethereum continues this trend, it might break over the $200 level in the short-term.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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