Recent denial of service (DDoS) attacks on Ethereum nodes have sparked a debate amongst its users and miners as to whether or not another hard fork is a suitable solution to the situation that the smart-contract enabled blockchain finds itself. Despite this, and other rocky moments, including the hack of TheDAO - which resulted in a hard fork already and the persistence of a parallel blockchain known as Ethereum Classic - the price of Ethereum's digital currency, Ether (ETH) has remain resilient.  (See also: Ethereum Reaches Consensus to Hard Fork, Fixing DAO Hack)

Ether's Price & Technical Outlook

The price of 1 Ether is currently trading at around $12.10, bringing the total "market cap" for the cryptocurrency just over $1 billion, and making it the second largest in size and scale behind Bitcoin. The price had risen to over $17 earlier this year, but fell on both technical and fundamental reasons to below $10 subsequently. But its ability to remain above $10 does speak to the value that people perceive regarding Ethereum's focus on smart contracts, and what they can enable. Simply put, smart contracts are self-executing agreements that exist as scripts on the Ethereum blockchain and automatically pay out with digital currency once certain conditions are met. (See also: Does Ethereum's Hard Fork Undermine Smart Contracts?)

Technincal analysis carried out recently by Cryptocoin News points to a possible rally in the near term. Studying price charts, they conclude that a so-called 5th arc is lining up, which could be followed by a strong move to the upside.


Source: Cryptocoin News

For those looking to trade or invest in Ether, Bitcoin, or other cryptocurrencies, there are a number of exchanges (of varying trustworthiness) such as Coinbase, Poloniex, Kraken, and BTC-e, among others. The author nor Investopedia endorse any of these exchanges in particular.

The Bottom Line

Even with cyber attacks and a history of hard forking, Ethereum's blockchain remains in demand, and the price of its cryptocurrency, Ether (ETH), remains fairly stable. This speaks to the potential value of smart contracts and how developers will use them in new and exciting ways. Chartists at Cryptocoin News see technical indiciations that the price of Ether may break out soon to the upside, rising above its current level of around $12.10.


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