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After dropping to $99.08 on March 13, Ethereum (ETH) has managed to recover a little and at the time of writing is trading at the $120 level.
Traders are offering multiple scenarios on the coin’s further movement. Still they believe that the first thing Ethereum will do is test higher price levels.
‘Test of $135-140 likely to occur’
Analyst ‘Crypto Michael’ has shared his take on the ETH price scenario. Michael van de Poppe states that ETH is holding in the green area and expects it to rise high enough to test the $140 zone.
The analyst also says that should ETH lose turn red, he would expect it to go down towards $103-$80.
Heading down to $79
Trader ‘TamasAron’ from TradingView has shared an ETH/USDT chart on his page, on which he shows the way he expects ETH to move from its current position.
As per TamasAron, the second biggest currency is going to rise to $128 first but then it is likely to decline to the $79 zone. Both movements are going to be made within a downward trend, as per the chart.
Trader ‘Evgenicys’ from TradingView has put his prediction on the ETH price simply – bear flag.
ETH may recover fast
As reported by U.Today previously, a blockchain researcher and a Placeholder partner Chris Burniske tweeted that Bitcoin and Ethereum are likely to recover from their recent large-scale losses faster than other cryptocurrencies along with a few other coins.