Price Analysis

Latest Ethereum price and analysis (ETH to USD)

Ethereum seems to be setting itself up for a rally to the upside after printing an exponential moving average golden cross on the daily chart.

The bullish posture of the world’s second largest cryptocurrency comes after the highly-anticipated Bitcoin halving event, which came into fruition yesterday evening.

Another positive aspect of Ethereum’s recent price action was the bounce from the $177 level of support, which paved the way to a seven percent rally to $190.

Over the next few days Ethereum will likely begin to trend back towards the psychological $200 level of resistance at which stage the impact of the golden cross may come into effect.

The previous golden cross came during the surge in price at the start of the year and preceded a 29.44% move to the upside before it made a local high of $291.

From a bearish standpoint Ethereum could be scrutinised for failing to break out above $219 during last week’s rally, although the sell-off has been attributed to investors liquidating Bitcoin positions ahead of the halving.

If ETH begins to trade below $177 it would be a cause for concern, a break below would see it fall to as low as $151 before it gets a chance to consolidate.

For more news, guides and cryptocurrency analysis, click here.

About Ethereum

Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.

Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.

More Ethereum news and information

If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:

https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Disclaimer: This is not financial advice.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

Disqus Comments Loading...

Recent Posts

Here is why Bitcoin is still a lucrative investment in 2024

Those who enter the market at this time may be surprised to hear that Bitcoin…

1 month ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

1 month ago

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

2 months ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

2 months ago