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

Ethereum (ETH) Price Likely to Go for $553

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

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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

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.

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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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