Is ETH ready to rise to $200 after Amazon's support?

Is ETH ready to rise to $200 after Amazon's support?

Amazon, the world's largest e-commerce platform, has created a new tool that enables businesses to create and manage scalable blockchain networks. Amazon said in a statement that Ethereum is well-suited for a highly distributed blockchain network where data transparency for all users is critical.

Ethereum (ETH) is the world's second largest digital currency by market capitalization. Blockchain projects are also the most commonly used; it is used to create decentralized applications and smart contracts. More companies are also starting to adopt and work with this project. Will these good news push up the price of Ethereum?

With the recent good news from Ethereum, the price of Ethereum (ETH) is expected to reach $200. Recently, Amazon announced billions of dollars in endorsement transactions. The company now has an Amazon-managed blockchain tool that allows companies to create and manage scalable blockchain networks. This is a very optimistic news for Ethereum, which should increase demand for digital currency, which in turn will increase the price of Ethereum.

Recently, the price of Ethereum (ETH) has risen by $165. The price of Ethereum soared, breaking the short-term price forecast of $180 Ethereum. Ethereum could not maintain the increase of more than 180 US dollars, the stock price fell. ETH fell and broke the resistance level of $170.

Ethereum (ETH) price analysis

According to the latest Ethereum price analysis of Bitcoin, ETH seems ready to deal with the resistance of $200 again. Traders want to know whether there will be positive news or technical trends.

Recent gains may be affected by rumors that rumors that the US Commodity Futures Commission (CFTC) may approve Ethereum futures and the 2019 consensus fast approach, and whether the measure will be technical or media driven in the coming days and price volatility.

Currently, $190 and $200 represent the strongest resistance. The weekly chart shows that if ETH continues to maintain its uptrend, 12 and 26 EMA may hit the bullish cross for the first time since March 2017, and the weekly RSI is also close to the bull market. (continuous chain)