IMPORTANT DISCLAIMER

ETH/USD 24.08.2017

Ethereum is one of the most strong projects on the cryptomarket. Technological solutions that ETH offers are in high demand there. The rising number of transactions in the network only proves the point.

Yet, ETH has its problems. Slow network during major ICOs has left not very good impression. And the market tends to react instantly to any problem. But most importantly, one should not forget that Ethereum has a very strong team of developers. They all do understand the problems and are working on their solutions. And this is what makes Ethereum one of the best assets for investors on a fundamental level.

 

Technically, the situation is as follows:

  • Strong ETH uptrend continues

  • $280 remains to be a resistance zone

  • $320 resistance zone has been hit, but retest has failed. There has been a return to $280-$320 channel.

  • Right now the price trades around $320 resistance zone. For further growth, the trading volumes and general market dynamics are very important factors.

  • Volatility remains high.

  • News about the nearest hardfork has generated heat around ETH. One should pay special attention to Difficulty Bomb. This will influence ETH price very positively. This is one more step from PoW to PoS.


Influence of fundamental factors makes the technical analysis just a support instrument. The Metropolis release has been the spotlight of the Ethereum network. News about its activation will heat up the interest to the project.
Options with the correction to $280 support zone are also possible, but only if the whole market falls.

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