One of the best crypto assets is Ethereum, which is also called ETH, which is the native currency of the platform. The Blockchain world seems to be ruled by algorithms and science-backed cryptocurrencies, have become the talk of the town for decentralized finance (DeFi).
Currently, Ethereum price is $4,422.60 with a market capitalization of $ 522,425,658,633, putting it in a good position in the global cryptocurrency rankings.
Also Read: Cons of Monero: The anonymous coin
History of Ethereum
Vitalik Buterin came up with the idea of Ethereum in 2013. Development of the network began in 2014, with crowdfunders funding the project. It went live on 30 July 2015. Platform users can deploy permanent decentralized applications, with which they can interact, onto it, which are immutable.
Ethereum price prediction
Currently, there is a level of resistance at $4,460.74, the next resistance will be $4,494.02, and a strong support level will be $4,270.22 and afterward $4,208.24.
If Ethereum price fails to break through this resistance level, the price may retest the current support levels before further descending to the next support level of $ 4,270.22. A break of this level may lead Ethereum to move down further to $ 4,208.24.
It’s apparent that Ethereum price is likely to move downwards from its current level, with bearish indicators showing. The ethereum price will likely move towards $64,159 in the near future.
Ethereum Recent updates
- On a lower token supply, Ethereum outpaces Bitcoin and reaches new all-time highs:
By market cap, Ethereum (ETH-USD) is the second-largest digital token after Bitcoin (BTC-USD), as its token supply shrinks. The price of ETH rose to $4,462 on Thursday evening before retracing somewhat to $4,324, but still remains elevated over the past 24 hours.
2. The Ethereum Altair Upgrade goes live, bringing Beacon Chain Merger closer
Ethereum released its Altair upgrade on 27th October, stepping a step closer to the Ethereum 2 migration. Alterair introduces improvements to the Beacon chain and is considered a “warm-up” for Ethereum 2.0’s merging.