- Ethereum prices up 21.6 percent in the last week
- Afri Schoedon quits Ethereum after Polkadot, Serenity comparison
- Transaction volumes picking up
Compared to other coins in the top 10, Ethereum (ETH) is leading the bulls procession. Changing hands at around $150, we expect ETH bulls to gain ground ahead of Constantinople.
Ethereum (ETH) Price Analysis
Fundamentals
Blockchain-based projects are unique and special. A genuinely decentralized network will have a healthy mix of developers, investors, and speculators. All of them will contribute in one way or another. Everything else constant, the success or failure of a project depends on the number of dedicated developers. Afri Schoedon, the Ethereum core coder, was one of them. Due to online criticism, he announced his decision of stepping aside and in days ahead would “no longer respond on Gitter, Skype, Discord, Slack, Wire, Twitter and Reddit” directly to any member of public on technical questions or improvement requests regarding Ethereum.
In a tweet, the quitting Ethereum servant :Critics started pouring thanks in part to his honest comparison on Thursday last week between Polkadot, a multi-frame network that supports interoperability between wildly different blockchains and Serenity, a scaling solution proposed by Ethereum.“I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard-forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never did, I worked on Ethereum. I did not hate Ethereum, I loved it.”
Candlestick Arrangement
Secondly, ETH found support at around the 78.6 percent Fibonacci retracement level, and as Fibonacci reversal rules dictate, ETH bulls will likely pump prices towards $170– a critical resistance level. Combined with fundamental reasons as Constantinople, we may see a situation where the march towards $170 will hasten.
