The much-awaited Constantinople hard fork sparked excitement in the Ethereum community which saw the coin’s price experience slight gains. The coin has regained interest in the crypto verse, and both investors and traders are now confident that this blockchain that grows day by day has a bright future.
Ethereum has remained in the last 7 days. It might retest the bottom of the range of $192.5-$249.93. If the bears succeed in breaking down of the range, a retest of the Sept low at $162 may ensue. Also, an attempt to pullback may face resistance at the moving averages and above that at $249.93. The coin’s price may show signs of strength, if it sustains above the range.
Ethereum gained 1% in the last 24 hours to trade at $204.97 at the time of writing. However, looking at the chart, Ethereum is under a lot of pressure below $202 and the 100 hourly SMA. A fresh decline may see the coin’s price move further below $200 to the $196 level.
The excitement in the Ethereum community
Announcements on the much awaited Constantinople hard fork has left Ethereum traders and investors with excitement. However, non-activation of the fork generated widespread speculation not only among developers but the community in general.
Nonetheless, another positive development that has caused excitement is a large number of new members joining the developer community. According to Github, Ethereum is the fifth-fastest growing open source project in its entire base. For its part, the cryptocurrency team is also one of the fastest growing topics in the developer community.
Currently, Ethereum price has not managed to recover from its previous lows, but these new positive developments spell some hope. However, it remains to be seen whether they’ll have any positive impact on the coin’s price.
What’s your take on the growing interest in Ethereum?
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