Ethereum (ETH) Price Surge 13.1% As Cloudflare Launchs A Gateway

Dalmas Ngetich

6 years ago

2 mins read

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Ethereum (ETH) rally, up 13.1 percent
Cloudflare launches an Ethereum gateway

The promise of Ethereum 2.0 is bliss for ETH holders. As Cloudflare positions itself, prices are rallying. Week to date, ETH is up 13.1 percent and could blast above $300 as buyers take charge.

Ethereum Price Analysis

Fundamentals

The path for a “better” Ethereum is on, and ETH investors stand to reap huge benefits. Trading below $300, Vitalik is brimming with confidence. It all has to do with the recent update of Phase Zero of the Beacon Chain.

Comprised of Sharding and the shift to Proof of Stake, Ethereum will be faster, scalable and distinctively energy efficient. However, the overarching goal is to cement its possible as a preferred smart contracting platform.

Pioneering in the sphere and allowing developers to launch their immutable, blockchain-riding applications, Ethereum’s smart contracting capability birthed asset tokenization. Even though regulators are cracking the whip on different ICO projects, prosecuting founders for allegedly selling securities, the space is just warming up.

Ethereum facilitates a new form of financing. Soon, projects will receive funding from fans remotely and without the need of filling reams of papers. With a scalable, secure, and decentralized network without a point of weakness, the next wave could see ETH register new highs.

Beneficial for enterprises, Ethereum will be vital infrastructure. Not to forego an opportunity, Cloudflare is launching an Ethereum gateway. It’s “another tool in Cloudflare’s Distributed Web Gateway toolset.”

Through a blog post, the web security firm said:

“We are excited to announce Cloudflare’s Ethereum Gateway, where you can interact with the Ethereum network without installing any additional software on your computer.”

Candlestick Arrangements

Trading at $288, ETH is 13.1 percent higher from last week’s close and less than $15 away from $300. If anything, this is progress with the resilience of buyers showing despite the trudging. Reading from previous ETH/USD trade plans, aggressive traders can buy the dips while aiming at $300.

Meanwhile, conservative traders can only be assured of better prices if there is a convincing, high volume close above the psychological $300. Such a move will reaffirm buyers of early May and set the wheel rolling for a possible rally to $400 and higher.

Notice that ETH is reversing from the 50 percent Fibonacci retracement level of May’s trade range. Extrapolating from the same range based on Fibonacci extension tools places ETH prices at $375 and $487. These levels are within this trade plan’s target.

Technical Indicators

As a result of the above, any breakout above $300 ought to be with a spike in market participation as volumes exceed 410k of May 30th.

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.