Ethereum Price has increased by 19.66% during the last 7 days with a 9% increase within the last 24 hours. This is good news for investors as it indicates confidence in how the Metropolis upgrade is and will be handled. It also indicates Ethereum’s price might be about to cross the crucial 325 USD level.
In our Important price levels to watch for September 2017, we mentioned the following
The main resistance level to watch is 325 USD. If this level is broken, this can signal a bullish move to come. We also said that short term, Ethereum has a resistance area between 250 and 270 USD. Today, Ethereum price has cleared the 270 USD price level so all eyes now on how it will perform as it approaches the 325 USD level.
If the price crosses and holds above the 325 price level will send a positive signal to investors and traders. Recently, the Ethereum community has been focused on the deployment and progress of the Byzantium hard fork. So far, the news have been positive and it looks like this is helping maintain a certain level of stability in Ethereum price amid the pressure on the Cryptocurrency market in general.
What is next for Ethereum price? A break above 325 USD with continued positive updates on the progress of the Metropolis Upgrade can help Ethereum reclaim its ascending channel. This will happen once it trades above 370 USD.
The 300 USD level could also test how strong this week’s upward move is. As we can see in the below chart, there is a resistance in that area as well. The next 48 hours will be important for Ethereum price’s next move.
To keep our readers informed about the upcoming Ethereum Upgrades, our research team published the following series of articles: