U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Ethereum Price Going Bullish as ETH Becomes Second Best Performer in Top 10

Wed, 02/12/2020 - 09:43
Yuri Molchan
The second biggest cryptocurrency is pumping almost 15 percent and has become the second best performer after Tezos (+24.46)
Cover image via 123rf.com
Put your crypto to work:
10 ETH
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network

Analysts who have recently been carefully watching Ethereum, have been expecting ETH to start pumping any given day. Now, as Ether is rising almost 15 percent, many traders are offering bullish ETH forecasts.

It is behind Tezos, ranked in the top 10, and is pumping nearly 25 percent.

Image via CoinMarketCap

Analysts bullish AF on Ether

Trader 'CryptoWolf', while watching an ETH/BTC chart, states that while trading at $250, ETH has not even started pumping yet. He reckons that a fair value for ETH would be twice as big as it is now - $500.

“$ETH @ 250$ and ethbtc has not even started to pump yet. It’s gonna be brutal for Maxis.”

He reminded the community of the time when Bitcoin dropped to $10,300 back in 2018 and Ethereum was trading at $750. Now, CryptoWolf says, ETH is heading back to this equilibrium price mark.

Crypto trader Ethereum Jack says that Ethereum and BTC are both continuing their rally with ETH having just broken a resistance.

$279 per ETH on the cards

Twitter user ‘TraderXO’ says that ETH has a chance of reaching $279 per coin (0.027000 BTC), provided that the current level holds and prints a ‘Show of Strength’. In that case, he believes the bullish trend for ETH and other altcoins will continue for a few weeks.

However, he also believes a deep reversal may take place.

Image via Twitter

Must Read
Bitcoin (BTC) Is the Victor in a World of Fiat Currencies: CNBC's Guy Adami — READ MORE

Previous bullish ETH forecasts

As reported by U.Today in previous stories, analysts have been pretty bullish on the price level Ethereum is likely to reach in the near term. Among the predicted figures have been $250, $290 and $553.

Crypto trader BTC_Macro assumes that ETH may reach an astounding $10,000 in the next bull run.

Last week, Mike Novogratz shared his view on ETH, saying that, after reaching $200 in a few days, the coin will conduct a bigger move.

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.

Recommended articles
Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Bitcoin's (BTC) Correlation with U.S. Stocks Reaches New All-Time High: BitMEX Research
Bitcoin (BTC) Price Targets $6,500 Before Future Pullback: Analysts
50% Bitcoin (BTC) Price Drawdown Perspectives Discussed by Top Messari Manager