The ETH is going down slightly Thursday, trading at around $245.01.
It seems that the Bulls are gathering momentum to break up Ethereum’s supply zone at $289. Should the Bears further defend the $289 supply level, Ethereum price may continue the sideways movement within the range.
Ethereum price is quickly moving towards the $300 level while there are real doubts about true decentralization of this asset.
Ethereum-based decentralized applications (DApps) continue to draw industry attention as the world’s fifth-largest electrical company tests new solutions pushing Ethereum price up.
Bitcoin price makes massive gains moving closer to its crucial resistance of $7000 level. Crypto analysts call this a beginning of the new bull run in the market.
The U.S. Commodity Futures Trading Commission (CFTC) said they are willing to approve Ethereum futures contract – provided it does everything right.
Ethereum price will reach $178 – $186 supply zone in case the Bulls maintain or increase their momentum. Should the Bears defend $178 level, the coin may consolidate at the zone.
In case the Bears were able to break down the drawn trend line, 21 periods EMA and $168 price level, then, Ethereum price will reach $159 demand zone. Otherwise, the bullish trend will continue.
Ethereum price will reach $178 price level in case the Bulls are able to break up the $168 price level. Lose in the Bulls’ momentum will return the coin to its previous low of $141 price level.