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Can ETH resume its growth to $400?

Oct 22, 2019

We still do not see any optimism, but Heath Tarbert, the chairman of the US Commodity Futures Trading Commission (CFTC), statements about Ethereum futures which may appear in 2020, inspire hope for investors.

“Ethereum futures have a chance to appear in a period of six months to a year,” says Tarbert.

The markets reacted modestly to these statements, as there are still no applications in the CFTC for the creation of this financial instrument. We think that request’s appearance and CFTC’s further positive comments can provide strong support for ETH, returning quotes above the technical resistance area of ​​222-240.

Note, that ETH is held in the support area of ​​$165- $170. It is a lower boundary of the upward channel. At the same time, the bullish scenario remains a priority until the breakdown of $150 support. The $222- $240 range remains immediate goal for buyers, while the upward price channel’s upper border is located at around $400.

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