Today’s Ethereum News starts with pleasant ETH price prediction for traders and digital asset investors betting on higher eth price. Ethereum, which is the second most valuable cryptocurrency by market capitalization is predicted to not just consolidate on recent eth price gains and positive sentiments but also to enter a new phase of positive eth price gains.
Ethereum Price Analysis – ETH Price to USD Today
At the time of writing, the native token of ethereum, ether (ETH) is trading at $251.07 to the USD and this is about 1.5 percent up from the value yesterday when cryptocurrencies recorded a flash drop in prices. The current eth price and the 24-hour eth price gain tells only a small part of the story. According to data from CoinMarketCap, eth price has gained a net of over 20 percent of its former price making it one of the most profitable 7 days for the number one altcoin in recent times. What could be better for ETH price today? Ether price is set for even more gains in the coming days as the fabled golden cross appears on ETH price charts as confirmed by cryptocurrency analysts.
Cryptocurrency Analysts Confirm Golden Cross in Favor of ETH Price – Ethereum Price News
Firstly, Etherdamus, a cryptocurrency analyst and popular member of the ETH community on Twitter predicted more gains for ETH price as he confirms the “golden cross” forming on Ether price chart. “,” he wrote along with a chart that illustrates the point of intersection.
The golden cross is a popular technical chart pattern which indicates the potential for a major rally. It appears on a chart when an asset’s short-term moving average (SMA) crosses above its long-term moving average (LMA).
In Etherdamus’ chart, the 50-day exponential moving average (or 50 EMA) cut across the 200-day exponential moving average (200 EMA). If the ETH price rally’s as the “golden cross” suggests, it is expected to test resistance at $280 and $300.
Etherdamus, however, noted that the price rally may not be immediate. In his tweet, he added, “Could take up to a few days for [the] effect to show in price.”
Ethereum Trading Volumes Support Positive ETH Price Prediction 2019 – ETH News
Granted, ETH price predictions are not entirely dependent on technical factors like the golden cross. ETH price rally will likely be buoyed by the demand form ETH, positive sentiments around the ethereum and cryptocurrency in general. It appears this is already happening.
As reported, the trading volume for Ether (ETH) has risen to yearly high volumes according to data from CoinMarketCap. As the price jumped last week Ethereum recorded its highest ever daily trading volume (about $20 billion) on Thursday, May 16, 2019. The 24-hour volume has since dropped below $11 billion since then.
ETH Price and other Cryptocurrency Prices stay strong Despite SEC Disappointment –Ethereum News
ETH price, just like bitcoin and other major cryptocurrencies is on the path of recovery after a sudden dip halted the jolly ride last week. Cryptocurrency news turned slightly negative this—particularly as the United States Security and Exchange Commission (SEC) failed to approve the Bitcoin ETF proposal by VanEck, opting to delay its decision.
It is a situation cryptocurrency followers have seen a number of times and this probably helped cushion what would have been a negative response from the crypto market. As Smartereum reported earlier this year, an SEC commissioner said in passing, that a Bitcoin ETF would likely be approved someday. Some solace for digital asset investors?
For ETH, in particular, the developments within the blockchain will interest cryptocurrency faithful as the blockchain is moving to more sustainable and efficient technology. The ETH 2.0 sub-project which gained momentum after the Constantinople hardfork is expected to establish Ethereum once again as the dominant platform for decentralized applications (DApps) and Smart Contracts.
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.
