Ethereum price analysis 14 September: ether enjoys accelerated support from bulls

Peter Terlato 14 September 2018 NEWS

Ethereum, the second largest digital currency by market cap, is leading the charge in this bull market.

Key takeaways

  • Ethereum is rocketing northward, increasing its value at a formidable pace.
  • Trading volumes have also increased by one fifth in the last 24 hours of trading.
  • Ethereum's network will undergo a "hard fork" of sorts, when it upgrades to Constantinople in November.

The price of Ethereum has risen at an expeditious rate over the past 24 hours, increasing its value by more than one fifth (21%) amidst a now flourishing cryptocurrency market. But how long will this positive sentiment last?

The majority of digital coins in the market are experiencing a solid recovery today, posting significant gains across the board. Many tokens are fast reclaiming heavy losses incurred over the past few weeks of trade.

Ethereum

Ethereum, in particular, is rapidly tracking higher. The coin touched a weekly low of US$170.41 in the early hours of 12 September before triggering a huge turnaround, boosting its price at breakneck speed.

The value of ether continues to power towards its previous weekly high of US$233.19 on 6 September.

At the time of writing, ether was valued at US$210.01.

24-hour trading volumes have shot up (20%) since yesterday, jumping from US$1.87 billion to US$2.25 billion.

ETHNews reports that there has been a strong rise in ETH/BTC from lows, with the pair trading above the 0.0280 BTC and 0.0300 BTC resistance levels. The pair also surpassed the next resistance level at 0.0320 BTC.

In a post earlier this morning, CryptoDaily analyst Fakhan suggested that the cryptocurrency market is one heartbeat away from breaking the downtrend resistance and kicking off a much anticipated altcoin rally.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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