Ethereum price analysis: ETH/USD fails to stay above $400.00, recovery momentum fading away
|- Bears are still in control as long as ETH stays below $400.00.
- Ethereum network attracts game developers.
ETH/USD tested waters above $400.00 level, but the gains proved to be short-lived. The coin is now trading at $397.00 with upside momentum weakening on approach to strong resistance. If it is cleared, the recovery may be extended towards $420.00 (50-SMA, hourly interval) and $440.00 (100-SMA. hourly interval). On the downside, the local support comes at $370; it is followed by Asian low at $364.50 and the critical $320.00-$300.00 area.
Ethereum network continues to be the most popular blockchain for DAPPS ecosystem with the gaming apps leasing the way, according to the latest Dappradar research. About 250 decentralized apps (Dapps) have been released on Ethereum blockchain in the last 2 months with 70% of them focused on games. The researchers warn that some of these games are Ponzi schemes in disguise, so users have to be on the alert to avoid being scammed.
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