Ethereum Price Trend – Week2[FEB-2019]

Ethereum price has show some bullish trend since the beginning of the February this year. After showing consistent performance in the second week it closed at $133.88 on Feb 17th. The price trend continued in upward direction. A gain of around 16% was observed in Ethereum price in last 7 days.

Analysis

Ethereum seems to be quite bullish after it overtook the xrp. It is now at #2 in terms of market cap position after bitcoin. Till 16th it was trading below $125 and on 17th it closed at $133.88.

The upward movement is also a result of rise in the price of bitcoin, if the market remain bullish, ETH can touch $150 at the end of next week. So far ethereum has performed best in the last 10 days and ahead in the price trend.

$130 can be support level and resistance level of $150 seems to be achievable.

On March 1, the proposed hard fork might be one of the reason why it is gaining support from the investors. There are number of network and performance improvement expected in ethereum.





Data Source: coingecko

Disclaimer: We do not encourage or suggest anybody to invest in Bitcoin and other Cryptocurrencies, please do your own full research and follow the law/rules as per your country standard.

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Author: Manoj Raturi

I am a Blockchain Technology enthusiast and love to read and write about it.

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