Ethereum Price Analysis: ETH/USD Price May Snap Back To $250

The Ethereum ecosystem is supported by three main pieces of infrastructure: Infura, Truffle and MetaMask. Infura is an “API and developer tools providing the necessary infrastructure and scaling capabilities for dApps”. While Truffle is a “A world-class development environment, testing framework and asset pipeline for blockchains using the Ethereum Virtual Machine (EVM), aiming to make life as a developer easier”

MetaMask is an ERC-20 wallet that functions through Infura. MetaMask both secures the private keys of your coins and serves as a bridge for the exploration of dApp right from your browser. It also makes it possible for users to run dApps, without having to download the full node of Ethereum.

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,952.62
0.07%
Ethereum (ETH)
$380.84
-0.19%

The major reason behind Joseph Lubin’s belief that Blockchain is a movement and more than a market is due to the exponential growth as well as the underlying demand. Just Infura has over 10 billion API request. MetaMask has over 10 million downloads while Truffle, which is utilized by Aragon, ShapeShift and Others, has a million downloads.

Other metrics have revealed an increase in base activity despite the ETH prices falling freely, which includes the value of active ETH addresses surpassing 48 million.

Price Analysis: ETH/USD

Presently, there is nothing yet to show that there will be a shift of momentum and bulls will be back in contention. Considering spot prices, in the last seven days, ETH/USD rose by 2% and from the close of yesterday, went down 2%.

Currently, the trend of ETH/USD is on shaky grounds and how prices will react at $100 could be shaping for ETH. Ideally, it would be great to see rallies higher than $130 after a 92% drop from the peaks of 2018.

It’s simple, trading ETH/USD. Here, Bears have taken control. But breaks greater than $130 behind strong volumes will usher us into the next wave of bull pressure at $160, $250 and possibly $400.

 

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.