Ethereum Charts (ETH)

Ethereum went live in July of 2015 with nearly 12 million pre-mined coins. The Ethereum network was forked into two separate blockchains in 2016, with the new blockchain being known as Ethereum and the original blockchain being known as Ethereum Classic.

Ethereum Prices

Ether is the value token of the Ethereum blockchain. The currency is listed on cryptocurrency exchanges under the symbol ETH. The currency really just started taking off in 2017, after seeing low values since its inception in 2015. Prices began breaking out to the upside in the spring of 2017, and rapidly went to about $400 per unit. Prices then saw a significant decline after hitting this milestone, rapidly dropping to under $200 per unit. Over the summer of 2017, prices once again began to climb, approaching the $400 level once again. This price level saw significant resistance, however, and prices once again failed to make a move above and beyond the $400 level.

The price then declined sharply once again, falling to the low $200 range before finding some more stable footing once again. This time around, prices made a slower climb higher, and were able to penetrate the $400 level and sustain a move well-beyond it. Prices broke above $400, and then saw some consolidation back near previous resistance at that level. The market then took off, rocketing past $600 per unit and eventually trading for over $800 per unit before pulling back to trade in the mid-$700 range.

Ethereum and other cryptocurrencies can and have exhibited significant market volatility. These markets have seen some substantial and rapid gains before then seeing some significant and sharp declines. Investors looking to hold Ethereum for the long haul may see tax benefits from holding Ethereum in a retirement account.

Price charts may be useful tools for both active Ethereum traders as well as long-term investors. Price charts provide a simple and effective depiction of price action and may potentially be useful for identifying areas of possible price support or resistance. Given the current market backdrop and the long-term prospects for Ethereum, investors may look to buy any significant dips in the market. Price charts can also be useful for identifying overbought or oversold market conditions, and may assist traders and investors not only in determining market entry levels but in possible exit points as well.

Future Ethereum Usage

Like any other market, Ethereum is driven by the laws of supply and demand. It can also be affected by investor behavior as well, on a shorter-term basis. Ethereum and related technologies could potentially become the norm as a means of transacting. These technologies may potentially offer a decentralized, low-cost and convenient method for sending and receiving funds anywhere in the world. Such technologies may also potentially offer a high degree of security, although they may need more of a track record before becoming more widely accepted and mainstream.

Ethereum and related technologies may offer a significant cost savings especially for international transactions. Paying using the network rather than wiring funds through a bank or using a credit card can save money on bank wire fees as well as foreign transaction fees typically charged by credit card providers.

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