Ether Price Analysis: Bullish Outlook Continues As Resistance Levels Hold

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As Bitcoin continues its bull run, the top alts by market capitalization have also made strides of their own. Ripple shot to new all-time highs (ATHs) this week and Litecoin has now activated SegWit, a block size and scalability protocol change. Litecoin will continue to receive further protocol upgrades made possible through SegWit activation. Ethereum is due for a protocol change, Metropolis, in the form of a hard fork sometime later this year. From a user standpoint, a competitive protocol change and upgrade environment with active developers amongst the top coins ensure these technologies will continue to push the limits of finance and beyond.

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Despite showing some signs of slowing last week, Ethereum continues to break hash rate ATHs, now at almost 25,000 GH/s, suggesting that miner confidence in the future of Ethereum remains strong.

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GDAX continues to take the lion’s share of volume, suggesting that USD fiat on-ramping remains strong. Bitfinex also continues to sit slightly higher in price than the other exchanges due to ongoing USD deposit and withdrawal issues.

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Ethereum has had two recent chart patterns that failed to complete to their respective

Read more ... source: Bitcoin Magazine

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