Since the beginning of this year, Ethereum, the second largest crypto asset in the market, has experienced a daily price growth and following the 1st of January the value increase of the coin that has been over 40 percent and the uptrend is still going strong. After undergoing a high of more than 179 USD, the digital currency has seen a healthy consolidation throughout the last week. Ethereum has been gaining momentum in the past days and the current nearest level of resistance is at slightly over 175 USD and then the currency would have to reach 179 USD.
After a crypto investor tweeted that the digital currency has been experiencing lows, Vitalik Buterin, the creator of the famous crypto asset, responded on Tweeter saying that recently Ether has been going very strong. Most of the time Buterin does not make comments about the price of Ether, hence, this response surprised a large part of the crypto Twitter. The crypto investor had also said that Ethereum was not putting much work in the last couple of years.
The comment might seem strange as Ether recently started its transition to a Proof of Stake system from the previous Proof of Work one. On the other hand, Ethereum has also been very strong in the market recently. The market cap of the digital currency switched to 7.7 percent from 7.19 percent in only a month.
Even though the short term predictions for Ethereum seem extremely good, the long-term future of the currency is still in question. If the currency breaks the resistance level at 175 USD and manages to stay above it for at least a week, the long term indicators of the coin will be positive once again.