$ 1,088.47 3.81%
$ 32.47 7.35%
$ 0.066580 1.80%
$ 4.46 7.73%
$ 20,008.00 0.48%
$ 217.59 0.92%

Major factors driving Ethereum price; likely to test $200

Major factors driving Ethereum price likely to test 200

Ethereum price has been soaring high this past week, with a substantial amount of trading at the one hundred and eighty-eight dollar ($188) level.

In the current rally, Ethereum price pushed to one hundred and ninety-five dollars ($195) mark. Ethereum (ETH), the queen of cryptocurrency, has been trading in the one hundred eighty-eight dollars to one hundred and ninety-four dollars ($188 – $194) price range.

ethereum price chart - 10th october 2019Ethereum price chart by Trading View

At the time of writing, the ETH price is dangling at one hundred and ninety dollars ($190.79) mark and holding. The price movement is likely to push upwards as soon as it finds support higher than the current support levels. While certain factors indicate the pattern is following-up to Bitocin, three major Ethereum price metrics are most important.

Ethereum price factors: active addresses

Holders remain strong. IntoTheBlock has stated that there is an increase of 10% of the number of active Ethereum addresses in the past week, indicating raised market movement.

Ethereum price factors: Large daily transactions

Ethereum witnessed an increase of seventy-five Percent (75%) on large daily transactions. A clear positive metric, more and more value (up to a hundred thousand dollars), is transacted each day, displaying an increase of over seventy-five percent.

Ethereum price factors: Trading volume

In the last twenty-four hours, the total volume hit 1.12 million ETH. The rise of transactions worth more than a hundred and twelve thousand dollars in just twenty-four hours indicates the consolidation of funds and increased trading.

These positive metrics highlight the increased activity of Ethereum, but they are neither indicative of their catalyst-nature for further movements nor the idea of adoption.

It is of interest to note that Ethereum’s hard fork, namely ‘Istanbul,’ is also scheduled for release later this month.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Online casinos trends in Ireland: the future of gambling
Monero and Bitcoin
Bitcoin, Ethereum, Shiba Inu, and Litecoin Daily Price Analyses – 29 June Roundup
Polkadot price analysis: DOT continues to decline with low of $7.06 recorded
Bitcoin price analysis: BTC touches $19,775 as bears threaten another sharp pullback

Follow Us

Industry News

Three Arrows could be liquidated due to the crypto market's bearish streak
Ronin bridge returns online after hack
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report
US adults turn strong hands, predict Bitcoin at $38,000 on average in 6 months