Ethereum Price (ETH)/USD is trading at a level of $287, which is around an important support levels of $280 and $282. Therefore, the crypto may bounce back to a level of $360-$365 (immediate resistance level).
ETH futures is expected to be launched by CBOE by the end of 2018. Yahoo finance has activated ETH on their platform. The data released from State of the DApps during this week reflects the most popular decentralized app on ETH has a daily active user base of approximately 2000 people currently.
Ethereum Price Chart
As per Aayush Jindal, ETH is at a crucial junction, where ETH price may fall 50% to a level of $125 or the price can break higher above the trend line to a level of $365
There is expectation in the market that CBOE may launch Ethereum (ETH) futures by the end of 2018 if US regulators approve its product.
CBOE Global Markets, one of the world’s biggest exchange holding organizations. CBOE has already launched pioneering Bitcoin futures in December 2017.
If this happens, the crypto would use Gemini’s underlying market and ETH price will move up. ETH has already underperformed Bitcoin. ETH has reacted positively to CBOE news. This gave ETH investors the hope that the price of ETH will stabilize, which fell more than 30% in a month.
Further, CME Group has not planned to roll out ETH futures. Both CBOE and CME Group have experienced both mixed success and a mixed reception in the case of Bitcoin Futures as the 2018 bear market across cryptocurrency had continued to fall.
Additionally, recently Yahoo Finance has activated the cryptocurrencies like Bitcoin, Ethereum and Litecoin trading on its platform.
In addition, U.S. regulator, the Securities and Exchange Commission (SEC), has said in June that Ethereum (ETH) is not a security, which has cleared the main obstacle for Ethereum futures to be launched by CBOE.
Conclusion
The market is in two minds whether CBOE will give a green signal for launching ETH futures. Meanwhile, Chris Concannon, CBOE’s President and Chief Operating Officer, had expressed the interest, as on 1 December 2017, that his firm may be interested in launching the futures products for cryptocurrencies which would be other than Bitcoin, such as Ether and Bitcoin Cash.
Therefore, at a current level ETH price can take movement towards the resistance or may fall down.
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