0
📰 News
3995 views

Ethereum Price Predicted to Continue Rising After Almost 14 Percent Uptick

  • Alex Dovbnya
    📰 News

    As the entire market is bouncing back from the pit, Ethereum follows suit, but will this minor bull run have longevity?

Ethereum Price Predicted to Continue Rising After Almost 14 Percent Uptick
Cover image via u.today
Contents

Over the past 24 hours, Ethereum (ETH) has managed to surge by a whopping 13.65 percent while the whole market remains in the green. The third biggest coin by market capitalization is currently on the cusp of breaching the $120 mark.

Ethereum

ETH to test $120

At press time, ETH is sitting at $118.92. However, the O.G. cryptocurrency is poised for more gains after this correction given that the asset is still severely oversold. Previously, ETH was predicted to fall back in the double-digit territory, refreshing its last year’s low when the coin fell to $80.

After reaching its ATH of $1,417.38 in January, ETH has been in the bloodbath. Notably, anything below the $200 mark was perceived as a disastrous scenario back in September, but now the community celebrates at least a minor pullback after an underwhelming start in 2019.

👉MUST READ

[8 Feb] Weekly Crypto Price Prediction – Bitcoin, Ripple, Ethereum, Tron

[8 Feb] Weekly Crypto Price Prediction – Bitcoin, Ripple, Ethereum, Tron

A flash in the pan?

While the whole CMC top 10 is witnessing sizeable gains, it’s yet to be seen whether this corrective rally has legs. Bitcoin is currently trading at $3,667.53 after a 7.76 percent spike, but it’s a far cry from its resistance level of $4,000 (BTC hasn’t touched it for several weeks).

Meanwhile, Litecoin (LTC) turned out to be the best-performing asset form the pack with a 29.64 percent increase at press time. Its looming MimbleWimble partnership was obviously the main catalyst for the surge.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

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

Cookie settings