The Currency Analytics
By Maheen Hernandez
Ethereum trend lines are taking the shape of a rising wedge. Thus, indicating a bearish situation in the trend lines.
At the time of reporting the news, the price of Ethereum was at $142.12. The price is not currently showing signs for an uptick, but the numbers of active Ethereum…
Eric Conner stated, "Ethereum's active addresses are beginning to rise over again; however, the gap between usage and price continues to be wide.
While the active addresses on Ethereum are increasing, the numbers of unique addresses involved in the transaction have not increased as much.
Ethereum despite its second price has been losing its market share. Projects like Tron and Eos are enjoying a higher speed, but Ethereum is being left behind.
Vitalik Buterin, the co-founder of Ethereum, have acknowledged the shift, but he states that there is nothing to worry about it.
"It is true that ETH lost some lead to a notable extent, and I think it is just because, first, it is kind of inevitable and unavoidable as Ethereum really was the first of it's…
To overcome the unique address issue, Ethereum is working on the scaling issue:
"Ethereum's scaling plan being a multiyear process is exceptionally difficult to execute; therefore developers are trying out other options,"
Tron and ETH are battling for supremacy, and both the founders are poster boys for their respective brands. TRON being scalable attracted away a lot of projects from Ethereum.
Despite all the Pros that Tron has to talk of, there is a lot of media attention for Ethereum.
A downside correction is expected concerning the price of the Ethereum. The price is likely expected to correct below the trendline of $142 in the short term.
The key support level is seen at $139 level. However, this price served as a strong resistance before.