Ethereum Price Forecast: ETH/USD getting ready for a breakout after new ETH 2.0 Onyx Testnet launch
- ETH/USD still looking for that clear $250 break.
- Bulls have defended the daily 12-EMA at $237,79 on June 9 and still maintain a daily uptrend.
Ethereum is definitely still bullish despite the lack of price action in the last week. The digital asset peaked at $253.47 on June 2 and has been consolidating ever since. The bulls have managed to defend the daily 12-EMA several times, something that is considered positive in the short-term. Ethereum only needs something to spark a break of $250 and take ETH up to $300.
Ethereum 2.0 closer than ever after the launch of Onyx
Another successful launch for Ethereum 2.0 blockchain. Onyx is being launched by Prysmatic Labs and it’s the last launch before the actual mainnet that will convert Ethereum’s current proof-of-work consensus mechanism into a proof-of-stake one.
Ethereum 2.0 is almost ready to be launched although a lot of enthusiasts believe that it may be delayed again. A successful transition would be great news for Ethereum and its price and could be the trigger of a new bull rally, perhaps to ATHs again.
ETH/USD daily chart
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ETH/USD technical levels
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
