Ethereum (ETH) Bulls Shaky, Close Above $400 Vital

Dalmas Ngetich

5 years ago

2 mins read

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Ethereum (ETH) prices are stable
Interoperability will be overarching in days ahead

Developers are working to address the scalability pain points. Meanwhile, Ethereum Classic developers are lining up two hard forks in the course of the year to make their dApps compatible with Ethereum’s in a hallmark move highlighting the significance of interoperability.

Ethereum Price Analysis

Fundamentals

Increasingly, innovation is only one stage of the winding road to success. Forging alliances, on the other hand, guarantees visibility. Jostling for funds is one part of the equation. Then again, the said funds must be used to facilitate the building of a reliable platform precisely as described in the white paper. Failure guarantees a time in the coolers.

Many founders of ICO projects in 2017 and early 2018 continue to pay a heavy price for their attempts to swindle well-meaning investors. Luckily, the space is maturing, and legislatures are drafting fitting regulations to flush out scams. As serious investors consider channeling their millions to different projects, Ethereum Classic is refining Atlantis.

According to ETC Labs core developers, the upgrade brings about interoperability. Without collaboration, there is fragmentation. That is a friction in a world that is referred by most as a global village.

On their part, Ethereum is addressing scalability. Through several updates culminating to Ethereum 2.0, developers hope to strike a perfect balance between scalability, security, and decentralization while improving efficiency benefiting the community.

Candlestick Arrangement

Price wise, it is exigent for ETH bulls to maintain its upward moment. For simple reasons. ETH prices are at a crucial point, retesting a vital resistance level from a top-down point of view.

While bulls are in control, yesterday’s draw down pours cold water to possible upsides. Because of yesterday’s resistance for higher highs, there is a double bar bull reversal pattern. Marking that is an extensive bear bar correcting the overvaluation of June 26 bull bar.

Then, the candlestick close was above the upper Bollinger Band (BB), meaning there was a level of overpricing of ETH forcing retracement as price action seeks for equilibrium.

Prices will likely edge lower in days ahead. Therefore, every high is a selling opportunity with targets at $230 and $170 if ETH prices drop by half.

Technical Indicators

From above, swelling trade volumes driving prices exceeding those of June 26 shall indicate trend continuation. Ideally, this spike in participation should drive prices above a recent high of $365 as buyers take back control.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.