fxs_header_sponsor_anchor

Ethereum Price Analysis: ETH/USD gunning for $200 mark, supported technically and fundamentally

  • Ethereum price is outperforming its peers, holding gains on Tuesday of some 7%.
  • There is much positive optimism heading into the constantinople hard fork on 16th January.

 

The Ethereum price on Wednesday is a huge out-performer versus many of its peers, running with chunky gains of over 7%. Momentum towards the latter stages of the day maintaining its course to the north.

There is a sense of positive optimism across the Ethereum community, heading into the constantinople hard fork. This is scheduled on January 16th, which is expected to largely optimize speed and cost.

ETH/USD is supported by an ascending trend line, which can be seen via the 4-hour chart view. This has been running since 16th December, upon commencing this strong upward trend. Major support can be seen back at the $132 territory, where the trend line tracks. The next major area to breakdown for the bulls will be $155-160 area, where some supply is seen. A firm break above can open the door for a move towards $180 and then the psychological $200 mark.

ETH/USD 4-hour chart

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.