For the moment, the Hash rate has declined a little but it is still expected that it will go a 2.15% difficulty in about as predicted 10 days. With that the combined Difficulty difference of +113.74% would be brought since January 2017.
The Uptrend flow from Yesterday was a major key for this week while going over the $302 mark. It was trading at around $309-$310 when it faced selling pressure for a quick-term profit and went backwards on a descending trend. At that pace it broke lower than the 23.6% Fib retracement level since the last fluctuation from $278.50 low to $309.37 high. So it continued even below than the $297 with a 38.2% F.R.
Ethereum range bound for some time now with no major movement. However, a setup is formed for more gain in the upcoming day.
For some time now, there is no significant movement in the pair of ETH/USD as it is fluctuating under the $308 mark resistance. As a pushing-forward indicator worth mentioning is Bitcoin Price reaching regularly All-time Highs as it increased above $4300. If you compare BTC/USD with other altcoins, they are having quite the struggle to find the right flow for moving upwards. BCH for example is barricaded by sellers as its value against the US dollar as it was flowing downward below $300 psychological level.
Ethereum against the US Dollar has descended swiftly in a short time period. The channel created now could be leading for further correction for the pair ETH/USD.
Ethereum price took two major attempts to overcome the $250 mark first against the US Dollar. The pair is aiming for the $300 mark after increasing past $280.