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Ethereum Price Prediction Amid Hints of a Digital Dollar .

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Ethereum price is trading lower amid the ongoing talks over the probability of a digital dollar. The US dollar is the preferred currency for international transactions. However, the heightened popularity of cryptocurrencies like Bitcoin and Ethereum has challenged this trend.

During his testimony before the US Congress, Fed’s Chair Jerome Powell hinted at a digital dollar. However, he indicated that he is yet to make up his mind on whether its benefits outweigh the drawbacks. Such a project would be a major headwind in the crypto industry. In the ensuing sessions, Ethereum price will also be reacting to the US retail sales.

ETHUSD technical outlook

Ethereum price remains under pressure as the bulls lack enough momentum to push past Tuesday’s high of 2,049.15. After hitting an intraday high of 2,04056, the cryptocurrency dropped to a low of 1,883.71. At the time of writing, it was down by 3.74% at 1,919.48. On a two-hour chart, it remains below the five and ten-week exponential moving averages.

In the near term, Ethereum price is likely to remain below the psychological level of 2,000 as the bulls gather enough momentum to push it past that crucial resistance level. A move below the current support level at 1,864.37 will probably lower it to the psychological level of 1,800.

As a reaction to the US inflation data, the bears may manage to retest the prior support level at 1,716.12. However, a move above 2,000 will invalidate this thesis.

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Ethereum price chart

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NEW INNOVATION AT 2021 FOR THE CRYPTO CURRENCY. BIG OPPORTUNITY. FREE DOWNLOAD and FREE COINS.

( π ) Pi is a new digital currency developed by Stanford PhDs, with over 15 million members worldwide. To claim your Pi, follow this link https://minepi.com/yildiztekin Download from your mobile phone and use username (yildiztekin) as your invitation code. Then mine from your mobile or desktop to collect Pi coin everyday.


6094626c1fb72_file.jpeg

NEW INNOVATION AT 2021 FOR THE CRYPTO CURRENCY. BIG OPPORTUNITY. FREE DOWNLOAD and FREE COINS.

( π ) Pi is a new digital currency developed by Stanford PhDs, with over 17 million members worldwide. To claim your Pi, follow the below link. Download from your mobile phone and use username (yildiztekin) as your invitation code. Then mine from your mobile or desktop to collect Pi coin everyday.

https://minepi.com/yildiztekin