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Ethereum Price Analysis: ETH Going Upwards Confidently

Ethereum Price Analysis: ETH Going Upwards Confidently

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

On Tuesday, October 13th, the leading altcoin keeps growing, reaching 385.62 USD.

On D1, ETH/USD has bounced off 38.2% and is testing 23.6% Fibo. The quotations may currently correct from the resistance level. After the pullback, they may break through 23.6% and go on growing. The MACD histogram is below zero but growing gradually, thus giving another confirmation of further growth of the coin. The goal of the growth is the nearest high – 487.87 USD.

On H4, the pair keeps going to the upper border of the channel, which may mean the correction of the general uptrend is coming to its end. However, before breaking away the resistance level, it might pull back a little, which will entail another wave of growth to 500.00 USD. The Stochastic is forming a Black Cross in the overbought area, increasing the chances for a correction before further growth.

The Ethereum 2.0 network is close to the end of tests and, hence, the launch. Yesterday it became known that the final test version Zinken is working without errors, which is very good news.

Zinken is, indeed, Ethereum 2.0 itself, only in the test form. It is reduced exactly as Spadina used to be. The main task of Zinken is to test the whole process of genesis and all the procedures up to entering the main network. The developers state that Zinken processing power inside the test network is almost perfect. Simultaneously with Zinken, another test network Medalla is working, where active validators are functioning.

In other words, the Ethereum is coming closer and closer to the final launch of the long-awaited 2.0 network. It was expected in summer; however, now, in the mid-autumn, there is still no exact date.

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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