Will Ethereum Recover After Recent Pullback? Crypto Charts Reveal that Ethereum (ETH) Will Continue Its Upward Movement

Crypto prices have been moving in a bullish pattern for days now. Ethereum shocked many as it surged past the $200 level with ease, surpassing the Ethereum price prediction 2019. Even if this isn’t common among the tokens that make up the entire market, the majority of the top 20 coins have experienced price improvements in recent days. Market leader, Bitcoin has had its share of improvements. The coin has expanded its dominance on the top of the log. The same can be said of coins like XRP, EOS, Litecoin and the price of Ethereum. The price action for the majority of these coins may show that a bullish altcoin season may actually be in play. Only time will tell if it will be sustainable.

The price of Ethereum has been on an upward movement in recent weeks. The digital asset has had a fair amount of success so far. It has been one of the best performing altcoins of the week. However, investors have been concerned about Ethereum for a while now. Crypto price prediction is a difficult proposition. It is hardly reliable. But the consideration of market patterns can help usher in a fair amount of trust in the system.

Let’s take a look at what the charts say about the price of Ethereum.

Ethereum price prediction 2019: The Price of Ethereum Has Gained 20% in the Last 48 Hours of Trade

The price of Ethereum has increased by 20% in the past 48 hours. The crypto space is in between thoughts of whether the price of Ethereum will continue to climb higher or pull back.

The bull run has taken the price of ETH to positions not seen in over eight months. Some are beginning to think the price of Ethereum will bust through the resistance areas to reach all-time highs. However, others are suspecting that a pullback may happen.

Some have suggested that funds from Tether flowed into Ethereum recently. Meaning the current price push might not be sustainable. According to Weiss Rating, Ethereum should climb towards $300 but the digital asset might actually be overbought.

Ethereum Price Forecast: Ethereum Has the Capacity to Change the World, According to Billionaire Investor

Recently during the 2019 Ethereal Summit, Mike Novogratz, billionaire investor and crypto bull, spoke well of Ethereum. According to Novogratz, Ethereum could change the world despite the multiple bumps it will hit on the way. In his words:

There’s good and bad news. For the good news, Ethereum is ahead. Ethereum has the most supporters. Bitcoin is expanding its success as a real store of value. This debate has ended and Ethereum won. I see positives for institutions who believe BTC is a store of value. Bitcoin will stay for a long time because that’s where these institutions will start from.”

Novogratz: The Price of Ethereum to Remain Bullish, Ethereum is Ahead of Bitcoin – ETH/USD Live Price

Novogratz is of the view that the price of Ethereum will stay bullish for the time being. Understandably, Novogratz is a long-time cryptocurrency proponent, hence, he is expected to give bullish remarks about any digital asset. But many followers were shocked when the billionaire investor said Ethereum is “ahead” of Bitcoin.

Novogratz believes that Ethereum and Web3 are world-changing solutions. Hence going by his logic, the real price boosters will come from any progress made by developers as opposed to the regular purchases made by speculators.

Will Ethereum recover?

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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