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ETH/USD prime for a breakout after Ethereum successfully finishes Constantinople hard fork

FX Street
Updated:
  • Ethereum successfully forked at block 7,280,000 to begin their Constantinople upgrade.
  • ETH/USD is trading for $137 and has been trending between $136-$140 for the last several sessions.

Ethereum successfully executed their Constantinople hard fork at block 7,280,000. As per the new rules, the block reward for miners has gone down from 3 ETH to 2 ETH, indicating a reduction in supply for Ethereum. The fork went off without a hitch as Ethereum’s two main clients, Geth and Parity, have managed to stay in sync.

ETH/USD 4-hour chart

ETH/USD is currently trading for $137. For the last several sessions, the price is continuously trending between $136-$140. It looks like the price is prime for a breakout as the moving average convergence/divergence (MACD) market momentum shifts into the bullish territory.

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