Ethereum Continues To Be One of the Assuring Technologies in the Cryptocurrency MarketAugust 31, 2019
Ethereum is continuing in a flat trend. ETH is not finding any support from the moving averages. The MACD is above zero; however, is continuing to portray a bearish crossover. The coin is continuing to remain flat, displaying a weakening trend.
The price of the ETH has gone below $163.70. The overall price pullback in the cryptocurrency market has not left any coin untouched.
The fall of the ETH has tested the support level at $170. The current trading zone for Ethereum is neither beyond $170 nor below $165.
The price of the ETH is facing immediate support at $165, and a high degree of support is required in the $160 zone. The immediate resistance for the token lies at $170, and the current resistance area is around $175.
The technical indicators for Ethereum; however, appears a bit better; however, there has been no bountiful recovery for the price. The MACD is in the positive array above zero; yet, has a bearish sentiment as the signal line is crossing the MACD line.
The RSI lies in the extremities of overbought and oversold regions.
Ethereum continues to be one of the assuring technologies in the cryptocurrency market. The cryptocurrency market has been in a state of extended bearishness, and investors are contemplating whether it is an excellent idea to buy Ethereum in 2019.
For all practical reasons, analysts opine that it is good to invest in Ethereum. ETH has placed itself as one of the most significant digital currencies, and it can be purchased through PayPal, Credit, and Debit Cards. There are so many platforms to buy ETH.
ETH has a fast processing time of 12 to 15 seconds. And most of the people are making use of ETH because of the versatility it has to offer. The Smart Contract platform of ETH is reducing the requirement for paperwork, and it reduces the need for brokers in several areas.
ETH has all the potential to transform the existing economic system, just like the other food and transport industries. There is an increasing need for secrecy in transactions, and people are comfortable with the online world, and the demand for fiat currency is decreasing in well-established online markets.
Vitalik Buterin recently tweeted, “I am uncomfortable making a “moon or bust” shot because there are plenty of possible future worlds where ETH is the #1 cryptocurrency at $100, and we need to survive there too and provide the value that people expect blockchains to offer.”