Ethereum Price Analysis

Since early September, prior to the initial coin offering (ICO) and cryptocurrency trading ban by the Chinese government, the price of Ether has struggled to remain in the $300 region, despite significant optimism surrounding developer activity and solutions on Ethereum such as the Byzantium hard fork and Ethereum co-founder Vitalik Buterin’s scalability solution Plasma.

Furthermore Blockchain, the second most popular bitcoin wallet behind Coinbase, announced few days ago that it will integrate Ethereum into its mobile wallet, the most widely utilized bitcoin mobile wallet in the market. Maybe this and more upcoming good news will push the price back to all-time high and beyond.

Technical Analysis

This past week was mostly neutral for ETH price above 280 USD. The price was seen recovering towards 305-310 USD, but sellers managed to defend further upsides and pushed the price down.

At present, the price is back above 50-day moving average level (300,52 USD) and trying to gain momentum. A break above the 309 USD level is required for buyers to push the price up to next resistance near 345 USD.

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