Ethereum [ETH] Preferred by Investors, Buyers Target $250

Latest Ethereum [ETH] News

It’s all about code improvement, infrastructure development and rising up the price ladder. Ethereum [ETH] is doing just that. Building and demonstrating to potential investors that not only is it a leader in the space when it comes to smart contracting but it has what it takes for projects to launch their dApps from in a completely decentralized manner.

We have seen this from time to time. Ethereum slowing down during time of extreme demand thanks to its secure, energy demanding proof-of-work consensus algorithm and competitors comparing their performance with the king albeit the gulf in the number of developers. Tron and Justin Sun are fond of that.

However, despite this, it is clear that what Ethereum and Vitalik are proposing syncs well with investors if the recent survey is anything to go by. In a Twitter poll, more than 50 percent of voters said they would buy-hodl ETH over other assets as TRX and EOS over the long term.

Poll of the day: Which smart contract platform token would you rather hodl for 5 years?

— Omar Bham (Crypt0) (@crypt0snews) April 6, 2019

Days later, Oslo-based Opera unveiled the first of the kind browser, Reborn 3, with an inbuilt cryptocurrency wallet. Reborn-3 is a desktop browser that can be installed in Windows, Mac and Linux operating systems allowing users to send and receive transactions without the need of an extension like MetaMask and other options.

ETH/USD Price Analysis

Visible from the Ethereum (ETH) is trading within a bullish pattern after clearing $170 complete with above average transaction levels. As laid out in our previous ETH/USD trade plans, our trading conditions are now live after last week’s break and close above $170 in the process invalidating the bear breakout pattern of mid-Nov 2018.

Although it is likely that prices will pullback in a correction, every low—as we can deduce from candlestick arrangement—is but another buying opportunity for both sets of traders with first targets at $250 or higher. It is easy to see why.

Note that the breakout above $170 was sustained and accompanying this surge were high transaction volumes of Apr 1-2. Even if Apr 2 was bearish, the follow through saw prices close above $170 with relatively light volumes as ETH bull bars band along the upper BB hinting of strong buy momentum.

Then again, from an effort versus result point of view, sellers are no longer in control because losses of Feb 24 were recouped. All the same, should there be a correction; prices must not slide below Apr 1 bull bar with above average volumes. If not, then every low is technically a loading point as reiterated with targets at $250.

Chart courtesy of TradingView—BitFinex

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.