ETH/USD prime for a breakout after Ethereum successfully finishes Constantinople hard fork

Ethereum successfully forked at block 7,280,000 to begin their Constantinople upgrade.
ETH/USD is trading for $137 and has been trending between $136-$140 for the last several sessions.

Rajarshi Mitra Independent Analyst

Ethereum successfully executed their Constantinople hard fork at block 7,280,000. As per the new rules, the block reward for miners has gone down from 3 ETH to 2 ETH, indicating a reduction in supply for Ethereum. The fork went off without a hitch as Ethereum’s two main clients, Geth and Parity, have managed to stay in sync.

ETH/USD 4-hour chart

ETH/USD is currently trading for $137. For the last several sessions, the price is continuously trending between $136-$140. It looks like the price is prime for a breakout as the moving average convergence/divergence (MACD) market momentum shifts into the bullish territory.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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