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Digital Currency Revolution Series: ETH/USD Discounts Istanbul Hard-Fork, Bullish Prospects On The Cards
Amid the lingering apprehensions of Ethereum’s underlying technological mechanism, Ethereum 2.0. has got paradigm shift in its technology but there have been talks that even though it is instrumental but is still disorganized, as it is still lacking in its entirety.
ETHUSD price (at Coinbase) has factored-in the fundamental news that the underlying technology ethereum driving.
ETH has been resistance to the downtrend as the Ethereum is officially gone live and it has been surpassing the 9,069,000 blocks in its Istanbul hard fork.
ETHUSD (at Coinbase) has been showing resistance after a resounding consolidation phase after bearish rout seen in 2018.
Although the minor trend goes in sloping channel, the rallies spike above DMAs upon stern bullish engulfing candle at $129.61 levels, consequently, the price of ether against dollar has surged more than 340% in 2019 so far. But the minor trend tests sloping channel support, any bounce back above 21-DMAs signal renewed upside traction.
Fundamentally, we see some constructive commentaries to drive bullish ETH, while CME announced Bitcoin Options, we get to see Ethereum Futures in 2020.
While the US-SEC states ‘Bitcoin and Ethereum Are Not Securities’, constantly keep declining bitcoin ETF proposals foreseeing potential threats for the investors’ community, whereas the new Chair of the CFTC (Commodity Futures Trading Commission) and the former Coinbase VP has recently called Ether (ETH) as a commodity that hints the room for a plethora of newly regulated derivatives products on platforms like the CBOE.
In Istanbul’s hard fork, six Ethereum improvement proposals (EIPs) are the highlight. The upgraded & implemented Ethereum Improvement Proposals (EIPs) that were chosen from a troop of more than 30 candidates.