EthereumPOW Price Prediction: WIll ETHW Hit $15 Price Level?

Summary:

The EthereumPOW is up by 4% in today’s trading session, reversing the past two days’ aggressive bearish trend that had seen it dropping by 17%

The EthereumPOW is up by 4 percent in today’s trading session, reversing the past two days’ aggressive bearish trend that had seen it dropping by 17 percent. The EthereumPOW was launched as a response to Ethereum migrating from a proof-of-work mechanism to proof-of-stake (POS) in what is now referred to as the merge.

While most developers supported the shift, some still held to the belief that POW was better in terms of security. Therefore, a new fork of Ethereum was launched as EthereumPOW, a project that will see the continuation of the Ethereum proof-of-work consensus mechanism.

Its members voted to completely respect the project’s ledger early last month, promising not to introduce any regulatory or centralized technology. They also committed that the ecosystem would remain 100 percent decentralized and would run as a DAO which respects all individuals and institutional wallets.

EthereumPOW Price Prediction

Weeks after it was launched, the project continues to perform relatively well compared to what many people expected. For starters, the project was launched at a time when the entire cryptocurrency industry was in an aggressive push to the downside. Despite this, EthereumPOW has been able to trade against the trend and rise in an extremely tough cryptocurrency market environment.

Today, EthereumPOW has continued to show strength in the markets, with a 4 percent price gain. Despite all technical indicators showing the project is in a strong bearish trend, including the Williams Alligator, which signals a strong bearish trend, my EthereumPOW expects the prices to continue going up for the next few trading sessions.

Part of the reason for my analysis is due to the recent price action, which started on September 19 and has seen its prices surge by 142 percent. In my last analysis, I predicted a likelihood that prices may continue rising until EthereumPOW hits the $15 price level. Today, with prices having hit the $10 price level, my next price level prediction is for it to hit the $15 price level. A trade below $6 will invalidate my analysis.