The upgrade from Ethereum 2.0 is in the final stages before the expected start
As long as the price of Ethereum is above $ 300, this cryptocurrency is not in the "SELL" zone
Ethereum's network recently saw a record number of daily transactions
The main trend of this crypto currency remains neutral-bullish and Ethereum (ETH) moves in the further upward trend to 400 USD. The price of Ethereum is still far from the price predictions made by ETH, but if the price climbs back above USD 400 this could be a very good opportunity for the short-term traders.
Fundamental Analysis: Ethereum's network saw a record number of daily transactions
As with Bitcoin, Ethereum had a record number of options contracts (460,000) expired last Friday. The price of Ethereum has dropped from $ 480 to under $ 320 in less than four weeks, and the current price is $ 362.
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Even so, there is no need to panic and as long as the price of Ethereum is above $ 300, this cryptocurrency is not in the sales zone. In addition to a tradable cryptocurrency, Ethereum is a decentralized platform on which intelligent contracts are executed.
This cryptocurrency is also used by application developers to pay for services and transaction fees on the Ethereum network. According to the major Ethereum browser, September recorded the highest number of daily transactions in Ethereum history.
The rise of Decentralized Finance (DeFi) is gaining momentum and investors in this cryptocurrency can use DeFi tools to generate income from their assets. The highly anticipated upgrade from Ethereum 2.0 is in the final stages before its expected launch, but the final work is not yet complete. ETH 2.0 is intended to provide Ethereum with the scalability it needs to support DeFi.
Ethereum can be estimated to be a very good investment option, and some predictions suggest that this cryptocurrency could top $ 1,000 in the next few years. The positive news is that residents of the Swiss canton of Zug can pay up to CHF 100,000 (about $ 109,000) of their taxes in Ethereum.
The Ethereum network is constantly adding new clients, and the development of applications that interact with this network has never been so strong.
Technical Analysis: Bulls are focused on breaking a strong resistance level of $ 400
According to the rules of technical analysis, the main trend of this cryptocurrency is neutral-bullish.
In this table I have marked important resistance and support levels. The major support levels are USD 325 and USD 300, with USD 400 representing the resistance level.
As long as the price is above this trend line, this cryptocurrency is in the buy zone and there is no indication of the trend reversal. If the price falls on the trend line and we get a “bullish” confirmation candle, this would be a very good entry point for short term traders trading “Stop Loss” and “Take Profit” orders.
The trend line is also a very strong support level. If the price breaks this trend line it would be a strong sell signal and we have an open road to $ 300. If the price jumps above $ 400 it would be a signal to buy Ethereum and we have the open road to $ 430.
If you're looking for virtual currencies with a good return, it is estimated that Ethereum can be a profitable investment option. A very good team is behind this project, the fundamentals of this cryptocurrency are constantly improving and the price has found strong support above 300 USD.