The built-in Ethereum (ETH) cryptocurrency can work in an ecosystem, driving smart contracting by working as a payment coin. Moreover, in view of multiple opportunities that ETH opens for the futurists, the reaction of the community to Elon Musk Tweet is reasonable.
Even though nothing can be concluded from Elon’s tweet as he seems to be joking around with Vitalik and Vitalik on the other hand invited Elon Musk to the Devcon in October.
You should come to our Devcon in October 🙂
— Vitalik Non-giver of Ether (@VitalikButerin) April 30, 2019
In terms of cost, ETH is bouncing off minor support like BTC and XRP, snapping to the main momentum. However, the bears may have the benefit as bulls don’t have the ability to close above one hundred and seventy dollars ($170) in the getaway pattern. The core of assets will probably raise the demand, stimulating costs.
Currently, there is a correction of 25th April damages. In association, the costs range between the 25th April bear bar. Precisely, only if there is a rush above one hundred and eighty and one hundred and ninety dollars ($180 – $190), the vendors are in control position from an effort position.
Even if, the instant support lies at one hundred and forty-five dollars ($145) or around Apr-2 lows and if the bears flow back retreating he 2nd April damages with high bulks, then the ETH might dive to one hundred and twenty-five dollars ($125) or even below in coming days.
This will approve traders of Q4 2018 and will also stimulate the subsequent wave that may result in ETH retest on 100 dollars.
On the other side, a severe spike slating ETH above one hundred and ninety dollars ($190) will indicate the buyers of 2nd April in a trend persistence phase towards two hundred and fifty dollars ($250).
In short-term, 25th April bar stabilizes their trade plan. It has an extraordinary volume of 160k. Hence any break above one hundred and ninety or one hundred and forty-five dollars ($190 or $145) must be with equally high volumes authorizing or invalidating the ETH-USD trade plan.