Ethereum price is not slowing down: 2019 is the year of reckoning for Ether
|- The traders have revamped their sentiments towards ETH.
- Ethereum corrected higher a cool 7% on Wednesday 2.
- Ethereum is trading at $154 after a brief retracement.
Ethereum made a surprise on Ripple’s XRP when it skyrocketed past it to regain its position the largest altcoin and the second largest digital asset in the industry. Ethereum has been gaining higher ground in the market since the widespread correction that began in mid-December when it had explored how deep the rabbit hole goes towards $80.00.
It was a rough ride for Ethereum last year, however, 2019 looks bright for Ether. It is clear that the community and the traders have revamped their sentiments towards ETH. Possibly due to the soon to be performed upgrade on Ethereum protocol. The upgrade was to take place last year but it was pushed to January 2019 citing technology challenges.
Investors are looking forward to seeing Ethereum resume the uptrend and become the just as valuable as Bitcoin. In addition to reclaiming the second spot in the market, Ethereum corrected higher a cool 7% yesterday. The price opened 2019 trading around $133.51 and close the trading on Wednesday at $156.51. At the time of writing, Ethereum is trading at $154 after a brief retracement. However, the RSI is still within the overbought region to show that ETH/USD could retest $160. Besides, the MACD signal is standing at +6.19 and has not dipped into the negative region since December 25, 2018.
If the price starts to correct lower on failure to break the resistance at $160, the bulls will refuge at $150, the trendline support, $140 as well the level at $130. The moving average between $140 and $130 will also offer support.
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Ethereum (ETH) is on fire: Skyrockets past Ripple’s XRP to reclaim the market 2nd spot
ETH/USD 2-hour chart
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