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Ethereum (ETH) Price Likely to Go for $553

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Tue, 02/11/2020 - 12:13
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  • After the recent surge, Ethereum has been trading flat, however, analysts are predicting the price will surge in the near future

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Ethereum is the second-largest cryptocurrency and, for many in the cryptocommunity, the second major bet after Bitcoin.

After the price rise that took place on February 5, when ETH crossed the $200 threshold, Vitalik Buterin’s coin hit $229 on February 9. After that, ETH dropped a bit and is now trading in the $220 area.

Some crypto traders believe that, in the short term, Ethereum is likely to resume its upward movement.

‘ETH is likely to continue towards 0.0257 Sats’

Crypto analyst Michael van de Poppe is one of those who have been closely watching the ETH charts. He suggests that, provided ETH remains above the $212 level (0.0217 Satoshis), the second biggest coin may start surging towards $251 (0.0257 Satoshis).

ETH 1
Image via Twitter

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Blockstream CEO Explains Why Tron (TRX) Is Better Than Ethereum (ETH) - READ MORE

Ethereum may start moving towards $553

Crypto trader and analyst ‘CryptoWolf’ has posted a chart, commenting that, should ETH close above the neckline resistance it previously overcame, the price is likely to skyrocket. On the chart, the $553 level is marked (0.05660 Satoshis) as the destination.

ETH 2
Image via Twitter

Twitter user @Pastore1314 predicts that the ETH price may head in the same direction - $524.99 (0.053626 Satoshis).

Ethereum dApp exposed to 4.5 mln Apple users

As reported by U.Today earlier, an Ethereum-based app, Audius Music, recently kicked off on the AppStore. This was announced on the AppStore’s Twitter page that boasts 4.5 mln followers.

The dApp is a competitor to Tron-based platforms such as VibraVid and allows content creators to directly link with consumers and monetize their work. In particular, Audius Music is made for musicians.

Some in the crypto industry refer to it as SoundCloud on the blockchain.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin (BTC) Price Targets $6,500 Before Future Pullback: Analysts

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  • Two days ago Bitcoin (BTC) failed to conquer a bearish stronghold at $7,000, which sent it to sub-$6,000 areas. When can we expect the next attack?

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Contents

Two major cryptocurrency traders and analysts believe that $6,500 may be the final level of this ‘fake rally’ before a new fall for the crypto king.

Relatively calm but targets $6,500

Seasoned crypto trader and analyst Michael van de Poppe recommended his followers to switch their attention towards altcoins.  According to him, many of them may bring profit in the short-term perspective:

$BTC is remaining relatively calm, so you can see alts pop here and there. If $BTC goes in accumulation modus, that will probably be the time that they start to kick off.  Probably during the summer. 

Although, with today's bullish momentum, Bitcoin (BTC) could reach $6,400 and even $6,500 fast.  But once it reaches this level, the U-turn is over and we can brace ourselves for a new decline.

The views of Mr. van de Poppe were shared by CryptoBirb, a prominent analyst and founder of The Birb Nest educational platform. According to him, $6,400-$6,600 is the most comfortable area for the ongoing Bitcoin (BTC) price move.

At printing time, Bitcoin (BTC) trades at $6,340 on major spot exchanges.

Don’t recommend Bitcoin (BTC) to Peter Schiff

Famous ‘gold bug’ Peter Schiff never ceases mocking Bitcoin (BTC), with no regard to bullish or bearish sentiments in the market. Yesterday, he compared the declines from the ATH demonstrated by both his beloved gold and the flagship cryptocurrency. 

Since the Bitcoin (BTC) fall has been five times deeper, he doesn’t have enough words to characterize its advocates. 

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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