RATE Group | Ethereum Price Spikes; Though Tech Challenges Remain
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Ethereum Price Spikes; Though Tech Challenges Remain

15 Sep Ethereum Price Spikes; Though Tech Challenges Remain

Posted at 02:43h in Ethereum News by

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Ethereum prices are up over 13% over the last two days, after weeks of negative price pressure. The price boost came in part from an influx of trading volume—over $2 billion. Most of the trading volume came from USDT, though fiat pairings saw higher volumes as the price bounced.

The price saw a sustained downturn due to large-scale sell-offs of ETH acquired by companies during their ICO stages. ETH was traded for these early coins and is needed to continue business functions, forcing some projects to sell ETH for fiat as prices sunk.

Estimates are that the sell-off came to the tune of 160,000 ETH; but buyers may be using that opportunity to buy back into Ethereum. Still, the uptick could be short-lived. Analysts are showing a dip down from the last few days’ activities, and an ETH price that goes lower to a real support point around $183.

H&S – New entry point (short) Target: 183.5$ by AyKayCapital on TradingView.com

Still, Ethereum and its project owners have announced a…

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