After what sees to be a brief bearish dip, most of the markets are on the mend once again. It was to be expected a minor correction would kick in after all of the positive momentum in recent weeks. For the time being, the Ethereum price remains below $150, but that may not necessarily be the case for much longer.
Ethereum Price Resumes March to $150
Over the past week and a half, all markets have gone through a very bullish phase. While it is certainly possible this will only be a temporary trend, there is a genuine reason to be excited as well. With the expected correction now seemingly in the books already, one has to wonder how things will evolve from here on out.
As far as the Ethereum price is concerned, the uptrend will seemingly be resumed without much pause. The momentum is slowly turning bullish again to bring the ETH price back to $148. A push to $150 is seemingly n the horizon, although this level will provide strong resistance, for obvious reasons. In ETH/BTC terms, the 0.037 level is reached again, further confirming that ongoing uptrend as well.
Similar to other markets, Ethereum’s trading volume is off the charts right now. On most days, this token generates $2bn in trading volume, with a margin of 30%. However, these past 24 hours, over $4.585bn worth of ETH has changed hands. Its main facilitators are ZBG, OBI Exchange, and OKEx. Not necessarily the list people expected, but it works in favor of ETH regardless.
In development-related news, it would appear a new prediction market has gone live on the Ethereum blockchain via Gnosis. Known as the Helena Network, it will serve as a forecasting solution for fundamental blockchain events and trends in real-time. A welcome addition, as harnessing the power of blockchain can be done in many different ways.
— web3plus (@web3plus_) February 20, 2019
D-Assets has a very interesting vie won the cryptocurrency and blockchain market. This user expects more mobile phone manufacturers and software providers to incorporate native crypto wallets. While there may be a case to be made there, it remains to be seen if and when that will happen. How that will affect Ethereum, is very difficult to gauge right now.
With this ever-increasing trading volume and an ongoing push to reach $150, it seems as if the coming hours will remain very interesting where Ether is concerned. Given the onslaught this token went through n 2018, it is only normal some of those losses will be recovered in the process. No bull market has been confirmed yet, but this slow and steady uptrend is more than welcome.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.