In his recent interview, Vitalik Buterin explained why Ethereum price is important for the crypto industry and answered to many other questions.
In case the Bulls gain enough momentum to push up Ethereum price and break the upper trend line of the triangle and sustain the momentum, the ETH price may reach $149 – $161; otherwise, the bearish breakout will target $134.
Further increase in the Bullish pressure will penetrate the supply zone of $149 and may target $161 price level. On the other hand, in case the Bulls lose their pressure Ethereum price may continue ranging towards $134 demand zone.
Ethereum needs support, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
Radical pressure is required from the bears to break down the $134 demand level; this will enable Ethereum price to find support at $125. If the $134 demand level holds and the bulls gain momentum, ETH may have the supply zone of $149 as its target.
In his answer letter, Jay Clayton opens up on defining ICO tokens as securities saying that there cannot be a static approach to deal with different crypto assets. Meanwhile, according to the agency’s laws, Ethereum is not the case.
In case Ethereum price goes down below $134 with the bearish candle close below the level right down there, then the bears will drive ETH price towards $125 price level. If there is a rejection at $134, then the ranging movement may continue.
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In case the Bulls maintain or increase their momentum, Ethereum price will reach its target of $149 supply zone. The loss of bullish momentum will make the coin range towards the previous low of $125 price level.
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Further increase in bearish pressure will make the demand zone of $114 as the target for Ethereum price. The loss of bearish momentum will make the coin to range towards $149 price level.
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