{"id":406542,"date":"2019-12-08T21:30:30","date_gmt":"2019-12-08T21:30:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=406542"},"modified":"2019-12-08T17:29:02","modified_gmt":"2019-12-08T17:29:02","slug":"ethereum-completes-istanbul-hard-fork-but-buyers-arent-too-excited","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-completes-istanbul-hard-fork-but-buyers-arent-too-excited\/","title":{"rendered":"Ethereum Completes Istanbul Hard Fork, but Buyers Aren\u2019t Too Excited"},"content":{"rendered":"
Ethereum\u2019s price action has been closely correlated to Bitcoin\u2019s over the past several weeks, leading ETH’s price to dip into the lower-$150 region, which is where it has been able to find some levels of support.<\/p>\n
Ethereum\u2019s much-anticipated Istanbul hard fork has come about concurrently with ETH\u2019s ongoing downtrend, and it appears that investors are not too enthused with this latest development, as sellers remain firmly in control of the cryptocurrency.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up over 1% at its current price<\/a> of $151, which marks a slight climb from its recent lows of $146 that were visited on multiple occasions over the past week.<\/p>\n It is important to note that Ethereum did face some resistance at $152, which appears to be a strong level of resistance for the cryptocurrency. It is important to note that ETH has incurred some upwards momentum today as Bitcoin begins moving towards its near-term resistance level at $8,000.<\/p>\n Ethereum has been caught within a firm bout of sideways trading ever since it faced a massive drop to lows of $135 in late-November, which appears to be an incredibly strong support level for the cryptocurrency.<\/p>\n One event that some investors had been looking towards as a potential bullish catalyst is Ethereum\u2019s Istanbul hard fork, which was successfully implemented today.<\/p>\n Teddy, a popular cryptocurrency analyst on Twitter, spoke about this much delayed hard fork in a recent tweet, saying:<\/p>\n \u201cAfter 950 delays #Ethereum finally completed its hard fork \u2013 Istanbul,\u201d he noted.<\/p><\/blockquote>\n https:\/\/twitter.com\/teddycleps\/status\/63795456?s=21<\/p>\nWill Strong Multi-Year Resistance Force ETH Lower?<\/strong><\/h2>\n