Ethereum Price Prediction β€” $30 Bln Market Cap Is Reached. Can We Expect New Levels in 2019?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    βž‘β˜‘ Ethereum is getting closer to the psychological $300 mark. When can bulls push the price to that level?πŸ’ͺ πŸ‚


Ethereum Price Prediction β€” $30 Bln Market Cap Is Reached. Can We Expect New Levels in 2019?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Ethereum is not going to give the leading position to another altcoin; its rate keeps rising and the market capitalization has already surpassed $30 Bln.

Ethereum chart

There can be two reasons for today's growth - the general market rise and the announcement by Tether of the increase in USDT emissions on the Ethereum blockchain.

The stablecoin giant transferred $25 Mln USDT from its storage to the Bitfinex address, and after 4 minutes they were sent back. This operation was necessary to convert USDT, released using the Omni protocol, to USDT on the Ethereum blockchain.

The technical chart looks the following way.

ETH/USD 1-day chart

Starting from the daily chart, we can see that the ETH impulse is still strong, this upward trend continues for more than 150 days. Together with the RSI, directed above 70, it shows s that ETH has a bullish movement ahead and our previous scenario remains relevant.

πŸ‘‰MUST READ

Ethereum Price Prediction 2019: Will ETH Cost $ 1.000?

Ethereum Price Prediction 2019: Will ETH Cost $ 1.000?

 The first goal appears to be around $310, which is $30 above the current price. We also have resistance at $370, which was brief support in April 2018. If ETH manages to break through the $370 level, then we can expect to reach the price of $484 in the long-term.

ETH/USD 3-hour chart

Analyzing the 3-hour chart, one can consider the first impulse wave. By placing the Fibonacci retracement, it can be noticed that ETH was able to roll back by 38%, which is an excellent bullish momentum.

πŸ‘‰MUST READ

5 Popular Ethereum Cloud Mining Sites in 2019

5 Popular Ethereum Cloud Mining Sites in 2019

Ethereum is looking quite good now, as it is preparing for the next pump, and has already surpassed the $282 mark. Now the nearest aim is $300, which is about to be reached till June 10.

The price of ETH is trading at $284.15 at the time of writing.

Cover image via www.123rf.com
The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

πŸ‘“ Recommended articles