Ethereum (ETH) Price Targets $237 but Could Later Reverse

News
Fri, 02/07/2020 - 10:20
Yuri Molchan
The second biggest currency has settled itself above the $210 level and traders now believe it will soon likely rise higher
Cover image via 123rf.com
Contents

Over the last few days, Ethereum (ETH) surpassed the $200 level and surged to $218, where it is currently trading.

Many are betting on Ethereum this year to perform well and at least regain its 2017 all-time high when the price was in the $1,300 area. Now, traders are predicting that, in the short term, the ETH price is likely to keep heading North.

‘Next target is $237 but then a pullback is possible’

Trader and analyst @BTC_JackSparrow who recently changed his Twitter name from ‘Bitcoin Jack’ to ‘Ethereum Jack’ is betting on ETH to reach $237 soon. However, he warns that once that level is reached, a pullback to $166 may occur.

Image via Twitter

‘$225.07 on the cards’

Technical analyst @LomahCrypto has shared an ETH/BTC chart on which his prediction says that the second largest coin is heading for the $225 mark (0.023069 Satoshis).

Image via Twitter

Related
DeFi (Decentralized financial applications) Funds Reach Close to 1 Billion USD

‘Ethereum devs long to migrate to Tron’: BeatzCoin CCO

The founder of IamDecentralized.org and CCO of the BeatzCoin project (the asset that powers the VibraVid blockchain platform for content makers) Misha Lederman has posted another tweet in favour of Tron pointing out Ethereum’s drawbacks.

He says that numerous makers of dApps developed on Ethereum have reached out to Tron asking how they can migrate to Justin Sun’s blockchain – which can be explained by current issues the Ethereum team has not yet solved.

“I can't tell you how many projects originally built on #Ethereum has reached out asking how to migrate to #TRON.

Most can't even run on-chain due to slow #ETH network speed & high gas fees.

#TRX's instant delivery speed, free transactions, user numbers & scalability solve this.”

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

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, can be contacted at yuri.molchan@u.today.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy