Latest Ethereum News
2018 was tumultuous and with most investors seeing a silver lining after 12 months of pounding, Ethereum [ETH] price expansion is dependent what pans out in the next two weeks. All talk is about Constantinople, the second milestone that the developer community has agreed on and will activate in mid-January at block height 7,080,000.
Thing is, if all things goes according to plan and the soft fork is activated in unison, Ethereum as a network will slowly but surely edge closer towards Serenity. This is the final phase which the network will operate at full throttle, thrashing competitors and ditching proof of work and ushering in proof of stake. But, from the last Ropsten attempt, soft fork coordinators are cautious prioritizing smooth transition than rushed implementations that may breed future problems.
Anyhow, the foundation has been set and despite the layoffs caused by last year’s liquidation, the developer community has been tempered and they continue to contribute towards the development of the platform.
Besides, there is more regulatory clarity on matters utility and security tokens and with the SEC foraying and even planning on publishing a guide for investors and coin publishers alike, the sky might not be falling after all.
If this goes well and there is more education, the security and popularity of Ethereum—despite the low throughput—might attract more developers and we might just see more product launches like that of late 2017.
Ethereum (ETH) Price Analysis
After 12 months of pure pandemonium, ETH is finally recovering and well above the $100 mark and buy trigger as mentioned in our last ETH/USD trade plan. From candlestick arrangement, it’s clear that the path of least resistance is upwards and as long as prices are trading above our previous buy target at $130 (now support) buyers are in charge.
As it is, bulls are in prime position and we recommend buying on dips in line with Dec 17 and 28 bulls. In fact, notice that though bears might be in control from a top down approach, their failure to press lower and the emergence of bulls on Dec 28 is an indication of expectation of higher highs.
It hints of ETH bring propped and there is opportunity for bulls to load up at spot prices with stops at $130 and first targets at $160, $200 and later $250.
While ETH bulls can buy at spot prices, a more conservative approach demand ETH prices to first expand above $150 before loading up with targets as mentioned above. This means our ETH/USD trade plan is as follows:
Buy: $150, Spot
Target: $160, $200, $250
All Charts Courtesy of Trading View
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.