Ethereum Weekly Forecast: ETH 2.0 launch will be a pivotal moment for Ethereum
The cryptocurrency landscape is not in the best shape on Friday. Both the Asian sessions and the European sessions have been characterized by increased selling activities, especially for the major currencies such as Bitcoin, Ethereum, and Ripple. Bitcoin is struggling with the support turned resistance at $9,300 while Ripple is focused on taking down the hurdle at $0.19 in a bid to regain balance heading towards $0.20.
Ethereum market update
The largest altcoin has lost over 1.5% of its value on the day from $231.23 (opening value) to $227 (prevailing market value). On the upside, an intraday high has been reached at $231.24 (significantly lower than Thursday’s high close to $235. Ether is facing a bearish biased trend, which means the path of least resistance is downwards going into the weekend session. Less rapid price actions are, however, not anticipated in the short term due to low volatility being witnessed.
Ethereum network overview: ETH addresses with over 0.1 ETH surge
Data by On-chain analysis platform, Glassnode, shows that the number of Ethereum addresses currently holding 0.1 or more ETH have surpassed the 3 million mark. There has been significant growth since January; an indication that investors are getting more bullish on Ethereum.