Ethereum (ETH) Price Analysis – February 20

  • If the crypto's price is sustained above the EMAs, the crypto will revisit the $160 price level.
  • The ETH price is likely to face resistance at the $150 price level which had not been broken since November 19, 2018.

Ethereum, ETHUSDEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bullish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $140, $130, $120   

The price of Ethereum is still in a bullish trend after the price rally on February 8. The crypto's price was also in a range bound movement for about a week after the February 8 price rally. On February 17, the bulls commenced a fresh bullish trend and reached a high of $148.87. The following day the crypto's price had a downward correction to the low of $146.61.

Today, the bullish trend of ETH price is ongoing. The crypto's price is likely to rise because the price is above the 12-day EMA and the 26-day EMA. However, the ETH price is likely to face resistance at the $150 price level. The $150 price level had not been broken since November 19, 2019.

On the upside, if the price is sustained above the EMAs and the $150 resistance level is broken the crypto will revisit the $160 price level. Meanwhile, the stochastic band is in the overbought region and above the 80% range which indicates that the price is in a strong bullish momentum and a buy signal.

ETHUSD Short-term Trend: Bullish        

Ethereum, ETHUSDEthereum Chart By Trading View

On the 4-hour chart, the price of Ethereum is in a bullish trend. Yesterday, the crypto's price was resisted at the $152 price level and the ETH price fell to a low of $145.49. The ETH price fell to the 12-day EMA and commenced a fresh bullish movement. The bulls are making another attempt at the $150 resistance level.

The crypto's price is likely to rise because the price is above the EMAs. On the downside, if the bulls fail to break the $150 price level, the crypto's price will be on a range bound movement.The stochastic is in the overbought region but below the 80% range which indicates that the price is in a bearish momentum and a sell signal.



The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.                                                                                                        

ConsenSys Confirms 'Vast Expansion' of Blockchain Industry

The developers at ConsenSys, a Brooklyn, New York-based organization focused on Ethereum-related development, have published a blog post in which they revealed that the nascent blockchain ecosystem “continues to see vast expansion all over the world.”

According to ConsenSys’ management, the evolving distributed ledger technology (DLT) industry needs business development and project managers, UI/UX designers, software architects, and adequate capital allocation.

Large blockchain-focused enterprises and major DLT-based infrastructural projects have now been launched as the crypto industry continues to grow, ConsenSys’ blog post noted. Crypto startups have also “grown into formidable businesses” with “growing hiring needs”, the ConsenSys team revealed.

“Need for Thousands of Non-Tech Roles”

In order to help blockchain job seekers get started, the ConsenSys team has compiled a handy “knowledge checklist”, links to useful DLT-related information, “learning hubs”, and other pertinent resources.

Per the developers at ConsenSys: 

It’s not all cryptography and distributed systems, there’s a need for thousands of non-technical roles ranging from publicists to content creators, community managers and admin positions.

However, the majority of blockchain-related jobs require skilled developers and the need for experienced software architects “continues to be the area of most demand”, ConsenSys’ report confirmed.

LinkedIn: “33x Increase” in Demand for DLT Software Architects

Notably, blockchain developers topped the global list for job roles with the highest overall growth. This, according to LinkedIn’s 2018 U.S. Emerging Jobs Report which revealed that the demand for DLT software architects “grew 33x over the previous year.”

As detailed in LinkedIn’s market research report, fintech firms and other organizations currently looking for blockchain developers “range from small remote teams to VC-funded startups to industry leaders and tech giants.”

Established multinational IT and professional services firms such as Ernst & Young, Deloitte, Oracle, IBM, and Microsoft are all expanding their respective DLT-focused development teams. Meanwhile, smaller startups including the developers of the Marconi protocol are looking to enhance blockchain network security, privacy, and connectivity.

Blockchain Devs Are Making up to $175,000 per Year

As noted in ConsenSys’ blog, “advertised blockchain developer salaries — using aggregated data from CNBC, Janco Associates, and Burning Glass — range from $125,000 — $175,000.”

Meanwhile, AngelList data shows that salaries for tech jobs in the DLT industry “outweigh equivalent roles in non-blockchain organizations, highlighting the high demand for practical blockchain knowledge already.” Moreover, non-technical roles in the blockchain sector “also outrank similar roles in non-blockchain companies,” market data shows.