Ethereum Prices Go Vertical, What is Driving the ETH Rally?

Freebie from my alts page [fee based]. Possible outlook on ETH… Look to buy the retracement to the mean/ cyclical curve. pic.twitter.com/DT6xgYKXjK — dave the wave (@davthewave) February 12, 2020

ETH Fundamentals Aside from the JPM announcement yesterday, DeFi markets could be driving Ethereum momentum. Banks are in dire straits and interest rates are turning negative which is forcing tech savvy investors to look elsewhere. Dai Savings Rates and other DeFi options can offer rates hundreds of times better than banks with relatively little risk involved. Following a two year bear market Ethereum prices had reached a critically oversold level, wallowing below what they were in mid-2017. Weak hands have been shaken out and ICO war chests liquidated making ETH a very good buy at these prices. Consequently a rally initiates and prices begin to surge, first breaking the $200 psychological barrier and then looking towards $300. The next big barrier for ETH prices is $400 as this level has served as strong support/resistance during previous market cycles. Proof of Stake is still a long way off for the platform but that too will drive prices even higher as it enables more ways to make money from this new decentralized financial ecosystem. Will Ethereum prices hit $400 this year? Add your predictions below.

source: https://bitcoinist.com/ethereum-prices-go-vertical-what-is-driving-the-eth-rally/

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