Ethereum Price Analysis: ETH/USD despite Constantinople delay is holding gains

Ethereum price on Wednesday is seen holding modest gains of 2.5%.
ETH/USD still holding ground despite the delay of Constantinople, until further notice.

Ken Chigbo Independent Analyst

The Ethereum price into the second half of the session, was seen holding gains of over 2.5% on Wednesday. ETH/USD is holding steady in positive territory, despite the Constantinople upgrade being delayed.

It was announced that their Constantinople upgrade, which has been heavily anticipated, has been delayed, due to a critical vulnerability which was discovered in one of the planned changes. A new fork date will be decided during another Ethereum developer call, scheduled on Friday.

ETH/USD is supported to the upside by an ascending trend line, the price managed to catch some comfort here. This coming after the heavy selling from 10-13th January, before then bouncing off the mentioned support.

ETH/USD 4-hour chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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