Past week analysis – Ethereum

The price of Ethereum is experiencing light pressure determined by the American dollar and by Bitcoin. The ETH – USD relation is placed at less than $715 and it is willing to increase.

Ethereum is an open-source, public distributed computing platform that is based on smart contract or scripting. CBS noted that the prices of Ethereum, Bitcoin and Litecoin will be the ones that will create the most excitement regarding cryptocurrencies. It is expected that Ethereum will surpass Bitcoin’s value in 2018

The key moments of Ethereum this past week, were the dangerous decline to $475, but the coin managed to recover the old price. On short-term the pair ETH-USD could not succeed the overtaking of the $715 value, but it has a $560 support.

The past few days were a bit difficult for Ethereum , as it dropped under $550. The price has recorded sharp fluctuations and the transactions were happening at inferior support levels quotations. The levels were $700 and $620. Moreover, the coin dropped under the pivot level, being less than $500. During the devaluation, the reduction was interrupted at $475.

As a positive aspect of last week, the price was above the value of SMA indicator and above the support level of $600. As long as the price remains bigger than $600, there is a chance of a new climbing. If the buying traders will not manage to maintain the price of $600, the virtual coin’s value could start decreasing.