Ethereum is one of the open-source platforms for decentralized applications. Anyone can be building applications in a decentralized manner. All states are distributed and publicly accessible. Ethereum is supporting smart contracts in which developers can be writing code to program digital value. Examples of decentralized apps are building on Ethereum that is including token, non-fungible tokens, decentralized finance apps, lending protocol, decentralized exchanges, and much more. While Ethereum is referring to the blockchain network. Ethereum Price is flowing within the Ethereum economy that is called Ether (ETH). Ether is used to pay for transaction fees called Gas, and it is one of the base currency of the network.
Price Analysis Of Ethereum
- Ethereum price todayis USD 462.12 with a 24-hour trading volume of USD 12,901,475,142. Ethereum is up 1.06% in the last 24 hours. The current CoinMarketCap ranking is #2, with a market cap of USD 52,405,633,733.
- It has a circulating supply of 113,403,025 ETH coins and the max. supply is not available. Ether (ETH) is formed inside day candlestick patterns for three consecutive days from Nov. 8 to 10.
- This uncertainty has today resolved to the upside that the bulls are having absorbed the selling and have established their supremacy.
- If the bulls are sustaining the price above the resistance line of the wedge, it will be invalidated the bearish setup. It will be opening the gates for a retest of the critical overhead resistance at $488.134.
- The first target on the upside is $520 and if the ETH/USD pair can be ascending this level, a move to $550 is possible. if the price is turning down from the current levels and breaks below the 20-day EMA ($418), it will be signaling that the bears are aggressively defending the wedge. They will be trying to pull the price down to the 50-day simple moving average at $382.
Future Potential in ETH
- Ethereum is one of the most interesting pieces of technology ever to exist. It has garnered the support and interest of the brightest entrepreneurs of the tech and finance industries.
- While anyone can be displaying that Ethereum as an investment holds much promise and will surely reward investors with all the support and potential ETH has, it is not always clear exactly what prices that Ethereum may be reaching.
- This industry’s best analysts have been gathered to help understand if some of the price predictions from experts match what the charts at https://www.webull.com/newslist/ccc-ethusd are saying.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.