Ethereum Price Analysis: ETH Bearish Below $135 Despite Development Progress
Latest Ethereum News Like every other system, there are legitimate challenges that if not addressed would slow down adoption. Topping the list is scalability and steps taken by the team to address this obstacle. Scalability appears to be a burden across all the major proof of work systems and with Ethereum leading the way as a go-to platform for launching dApps and other smart contract powered products, influx of users—even though being the ultimate objective—often times bog down performance.
In times of climactic demand, throughput shrinks to the region of 5TPS from around 15TPS. However, this is not to mean that the network isn’t scalable and the snail-paced progress—hampered by never ending deliberations as a public chain–towards solution formulation would ultimately lead to user hemorrhage while simultaneously allowing alternatives as EOS or Tron for example to take over from Ethereum.
As far as we know, Ethereum is through is about to bottom out from the Trough of Disillusionment after massively benefiting from the meteoritic rise fueled by the ICO mania of late 2017 and early 2018. Then it was all about hype and after peaking, the painful dip lead to a reset to factory settings. It was a momentum of reckoning and now ETH as a digital asset is being valued fairly.
Clearly, ETH bulls are having a hard time against a wave of sell pressure. Even though progress has been made and the coin is up 2.1 percent from last week’s close and pretty stable in the last few hours, bulls have a lot to prove. From previous ETH/USD price analysis, it will be imperative for bulls to build enough momentum and drive prices above $135. That will trigger the first wave of bulls aiming at $170. This mark as we know is the previous support now resistance mark. A comprehensive close above this tag invalidate the bear breakout pattern price action is trending in.
In times of climactic demand, throughput shrinks to the region of 5TPS from around 15TPS. However, this is not to mean that the network isn’t scalable and the snail-paced progress—hampered by never ending deliberations as a public chain–towards solution formulation would ultimately lead to user hemorrhage while simultaneously allowing alternatives as EOS or Tron for example to take over from Ethereum.
As far as we know, Ethereum is through is about to bottom out from the Trough of Disillusionment after massively benefiting from the meteoritic rise fueled by the ICO mania of late 2017 and early 2018. Then it was all about hype and after peaking, the painful dip lead to a reset to factory settings. It was a momentum of reckoning and now ETH as a digital asset is being valued fairly.
Clearly, ETH bulls are having a hard time against a wave of sell pressure. Even though progress has been made and the coin is up 2.1 percent from last week’s close and pretty stable in the last few hours, bulls have a lot to prove. From previous ETH/USD price analysis, it will be imperative for bulls to build enough momentum and drive prices above $135. That will trigger the first wave of bulls aiming at $170. This mark as we know is the previous support now resistance mark. A comprehensive close above this tag invalidate the bear breakout pattern price action is trending in.
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