Ethereum has finally managed to rise to the $221 level.
Surging from $188 to $221
On February 5, ETH gained momentum and started quickly rising from the $188 area, surpassing the $202 price mark by the end of the day. This was what many investors and traders had been looking forward to - ETH over the $200 level. But now it is sitting at $221.
On February 6, the crypto community that had been watching ETH attentively responded at once. A YouTube crypto blogger Omar Bham tweeted:
“ETH just broke $210.00”
Earlier, a crypto analyst wrote that once the ETH price surged over $195, it would start moving towards new highs. He named levels $225 and $275 as the next targets for the coin.
‘It's show time for ETH’
Crypto trader ‘Galaxy’ has posted a chart where he marked a green line level with the $201 level.
‘When $ETH breaks the green line it's showtime’, he tweeted.
Trader ‘CryptoWolf’ commented on the ETH price action too, pointing out to his followers that the next resistance levels ETH will face will be the $210-$220 marks.
Hedge fund legend and CEO of Digital Galaxy Mike Novogratz commented on Bitcoin and the major altcoins earlier today. In particular, he mentioned ETH, saying:
“ETH over 200 for a couple of days will open a bigger move. $btc has 10k looming. Once that goes we are off to the races.”
Ethereum is expected to skyrocket this year
ETH investors believe that this year the coin is going to perform really well, largely due to the fact that more and more new dApps are being built on DeFi and more ETH is getting locked in it.