[UPDATED] Ethereum (ETH) Price Analysis: Are Bulls Ready for $200?

  • Alex Morris
    📈 Price Predictions

    Similar to Bitcoin, supporters of Ethereum have started to actively buy the second most popular cryptocurrency. It became obvious that “bulls” have fully entered the market. We hope the following price analysis helps to predict the further movements of Ethereum


[UPDATED] Ethereum (ETH) Price Analysis: Are Bulls Ready for $200?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Update: Taking into account short-term analysis, Ethereum broke resistance levels and was meeting highs every hour. However, that could not last forever. Supposedly, a small correction is needed for steady growth.

Yesterday, Ethereum could not show us steady growth. The pair got stuck in consolidation with support at 143.00 USD. At the time of writing, the price began to recover from the level of support in the area of March’s last maximum.

ETH/USD

 ETH/USD chart by tradingview
ETH/USD chart by TradingView

April 2 started with global growth of the crypto market and Ethereum is not an exception to this rule. The second cryptocurrency has increased by 7,11% over the last 24 hours.  On some exchanges, an important resistance level of $150 has been broken, but then an immediate pullback followed. Currently, the price has consolidated near the point of $145.

What is more important, long positions on Ethereum stretched for the whole bearish trend and reached a volume of 560,000 ETH. It is a sign that more and more traders are waiting for a bullish trend consolidation.

The price of ETH is trading at $149.70 at the time of the writing.

Cover image via u.today
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles