Ethereum is in today’s crypto news lately for increasing its price from $124 to $141 by more than 13% against the US dollar. Right now, analysts foresee a strong short-term recovery for Ethereum as the market shows momentum.
The optimistic price movements of the major crypto assets included Ethereum, EOS, Bitcoin Cash and Binance Coin which have come during a period in which the sentiment in the near-term performance of the crypto market which has become noticeably gloomy.
Before the recent rally of the crypto market, a cryptocurrency trader with the alias “Mayne” stated that investors cannot remain bear-biased mainly because of the past performance of the market. As he said:
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.”
Over the past several months, Bitcoin and the rest of the market have shown similar price patterns. However, because the market had experienced extended periods of low volatility in the past few months, many traders expected the trend to continue.
According to the cryptocurrency analyst DonAlt and his statement:
“I’m incredibly bullish on ETH for the next few weeks. I’d get a cardboard Vitalik cutout if I could just so I have it by my side 24/7. No matter what BTC does ETH will outperform the market in my mind. I’ll use dips as giant buying opportunities.”
However, he also added that the movement was controlled and it is currently at a key resistance.
Ethereum Price Closer To $175: Is $182 The Next Milestone For ETH?
- The technical indicators are as following:
- Hourly MACD – The MACD for ETH/USD is pushing higher and gaining a bullish momentum, with a lot of positive signs.
- Hourly RSI – The RSI for ETH/USD surged above the 60 level and it is right now stabilizing near 75.
- Major Support Level is at $168
- Major Resistance Level is at $175
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Tron Has Fastest Growing DApp User Base, But Ethereum Is Still The Developers’ First Choice: Report
“The Ethereum-based games have already created a stable community with a group of loyal audience.”According to the numbers in it, the Q1 of 2019 showed that 504 DApps were added to the DApp.com list, of which more than half were Ethereum-based.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron," the report sums up.The number of active DApp users on the Tron blockchain reportedly amounted to over 300,000 while on EOS it is around 260,000. The report also showed that by the end of Q1 2019, the number of Tron wallets exceeded $2.3 million and about 15.46% of them interacted with DApps. Around 85% of Tron's DApp users interacted with the apps in Q1 2019 which translates to Tron being the most active chain among the four blockchains. The report also pointed out that 95% of the EOS DApps reported a transaction in the first quarter of the current year as did over 80% of Tron and Steem (STEAM) based decentralized apps. For more of the latest cryptocurrency news, head to our homepage!
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