Ethereum price analysis: ETH/USD rising, as CryptoKitties are going mobile

  • ETH/USD is up 3.5% on the day, capped by $870.00
  • Ethereum network is getting ready for CryptoKitties craze

The Ethereum price bumped into $870.00 resistance that capped the upside for the latest three days. The bulls are looking for new encouraging signs to stay engaged.

CryptoKitties, the wildly popular game based on Ethereum blockchain, is going mobile which could lead to another ETH/USD spike and cause collisions within the world’s second-largest cryptocurrency network. 

The Chinese-language iOS App is targeted at Greater China and Singapore users that have been left out from the English-only CryptoKitties web-based version. The launch is planned on February 16, right before the Lunar New Year festival. 

The game’s developer, Axiom Zen, refrain from forecasts regarding the number of new users. 

“We did some models and we some made spreadsheets and had everyone take a guess at how many users we’d see. We ended up hitting every one of those numbers within the first three days,” Giang tells Fortune.

From the longer-term technical point o view, the ETH/USD is still well below 50-DMA, which comes at $988.00 and serves as a resistance before psychological $1,000 level. On the downside, the nearest support is seen at $850 and at $779 (Sunday’s low). If it is broken, the bears will be able to push ETH/USD back to $700.00.

ETH/USD, daily chart

ETH/USD daily chart

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