The mass adoption of digital currencies is one topic that has been lingering in the digital currency space for a very long time. Crypto firms and projects have been pushing for mainstream adoption and integration. Their efforts have made many institutions and digital asset investors to start adopting digital currency and their underlying technology – blockchain.
Ethereum Foundation has also been pushing for the mainstream adoption of Ethereum (ETH). The effort of the foundation has helped to increase the price of Ethereum. The price of Ethereum is also positively affected by the optimistic Ethereum price prediction 2019 and Constantinople Ethereum. Will Ethereum recover? What is the short-term Ethereum price forecast?
Ethereum Blockchain Set to Welcome a New Zero-Knowledge Proof Technology by Ernst and Young [EY]
In the course to remain relevant in the crypto space, Ethereum has secured a lot of strategic partnerships over the years. The platform of Ethereum is also an avenue for developers and blockchain firms to step into the blockchain industry. The title of the project is Nightfall protocol. The project uses built-in zero-knowledge proofs to enable companies to carry out transactions on the network privately. This is indeed a big move on the blockchain of Ethereum. This will further boost the adoption of Ethereum, as the project will utilize the Ethereum token. Does this make Ethereum the best cryptocurrency to invest in 2019? Will Ethereum recover? Ethereum has the potential to recover significantly. However, it is difficult to pinpoint when this recovery might start.
Ethereum Price Analysis – Ethereum Price Prediction 2019 – Ethereum Price Forecast
Ethereum USD live price is currently over the $170 mark. The digital currency recently gained momentum and broke over its minor hurdle point. Can the price of Ethereum break the $200 level by the end of this month? The price trend of Ethereum over the past week has been sinusoidal. During the week, Ethereum price plunged and broke the $160 support level. The price of Ethereum declined further but was strongly supported at the $155 level.
The digital currency broke over the 50 percent Fibonacci retracement level of the previous swing from the high of $188 to the low of $155. Ethereum USD price later surged higher and broke over the $160 and $170 support levels. This paved the way for more gains toward the $175 and $180 level. But the price of Ethereum (ETH) encountered a stiff hurdle on the upside at the $180 level. ETH/USD live price later plunged and traded close to the $170 mark.
At the press time, the first and second hurdle points of Ethereum are $175 and $180 respectively. The digital currency needs more bullish traction and positive news to break over its immediate hurdle points.
The price trend of Ethereum over the past seven days has been impressive. According to the chart above, Ethereum price has been surging higher over the past seven days. Despite the little challenges it is currently facing on the upside, if Ethereum keeps up with this trend, it is going to break the $200 barrier in the short-term.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, ETH USD live price is $170 after a decrease of about one percent over the past twenty-four hours. The current market cap of the digital currency is $17.9 billion. The trading volume of the digital currency over the past twenty-four hours is $5.8 billion.