![Ethereum [ETH] Price Just Crosses $240 – Is Ethereum Dapp Bet the Reason Behind Rally](https://cdn.coingape.com/wp-content/uploads/2019/05/16000903/Ethereum-ETH-Price-Just-Crosses-240-%E2%80%93-Is-Ethereum-Dapp-Bet-the-Reason-Behind-Rally-678x381.png "Ethereum-ETH-Price-Just-Crosses-240-–-Is-Ethereum-Dapp-Bet-the-Reason-Behind-Rally")
Ether volatility is close to its all-time low. Furthermore, prices have moved only 1.73% in 10 days.
Will Ether Price Soon Touch $200?
In the past few days, Ether price has consolidated in a broad range above $180 support against the US dollar. Even the attempts of bears failed to push the price below $180 and $178 levels.
Also, the price failed to break $188 and $190 resistance. However, it broke the $185 resistance and is trading at $186.57, at press time. Prices $188 and $190 are important levels for the bulls if they manage to take the prices over $190, the next key resistance levels are at $200 and $205. In case, the price doesn’t rise further, the prices may decline below $185 and find support near the $183 level.
Technical Indicators
Relative Strength Index (14) -46.82
Stochastic %K (14, 3, 3) -40.05
Commodity Channel Index (20) −42.34
Momentum (10) – 3.04
MACD Level (12, 26) −7.91
Exponential Moving Average (5)- 184.10
Simple Moving Average (5) – 183.01
A Look At Ethereum’s Volatility in Q3
The previous month, a research firm ExoAlpha released a report highlighting the plight of the top 3 coins and how they shaped the market in the third quarter.
In the third quarter, Ethereum displayed 82.8% volatility. The volatility stood at 89.7% at the end of the second quarter. During the third quarter, its volatility decreased from a high in July of 98% to a low in September at 79.4%. Over the quarter, the volatility of Ethereum has been more than 4 times higher than the volatility of the S&P 500 or Gold. In the past 5 years, Ethereum’s volatility was noted to be the maximum in 2016 and 2017. The volatility then was noted to be 200%.
With Istanbul Hard Fork round the corner, it is likely that Ethereum prices soon witness a rally and establish an all-time high. The hard fork will reduce gas costs, increase compatibility with Zcash, enhance scalability and introduce versatility in contracts and will bring Ethereum closer to version 2.0.
What will be Ether’s next big price move? Let us know, what you think in the comments below!
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.
