After testing new yearly highs and enjoying the rides of the bulls, the digital currency market is now having a hard time breaking over some major resistance levels. Last week was a very dramatic one in the crypto space. The crypto market – almost all the digital currencies in it – surged enormously and broke over long-term resistance levels like it was nothing.
The price of Bitcoin (BTC) was at the forefront of the recovery. The short-term Ethereum price prediction 2019 was breached, as the price of Ethereum also surged significantly and tested a new yearly high. This massive increase in the crypto market cannot be attributed to a single source. However, there has been some bullish Ethereum news and Ethereum price forecast 2019 lately, also contributing to the success of the crypto over the past week.
Ethereum (ETH) Price Today – ETH / USD
Nevertheless, this week seems to come with another trend, which is like the opposite of what last week had to offer. Over the past day, the crypto market has been on a downward trend. A lot of digital currencies in the market are still trading in the red, with Bitcoin (BTC) trading heavily below the $8k level. The price of Bitcoin (BTC) is currently close to the $7,500 mark, after a decrease of about 5 percent over the past day.
Does Ethereum Price Still Have the Potential to Hit $300 By the End of This Month? Ethereum Price Forecast 2019
Many digital asset investors and traders have so much belief in Ethereum. They believe the price of Ethereum is still very much bullish amidst the crypto price correction in the market. Almost all the top twenty digital currencies in the market are deep in the red. A digital asset investor whose Twitter handle is @Tradermayne said the outlook of Ethereum is still positive, and ETH USD price could hit and break over the $300 level soon.
According to the digital asset investor, ETH USD has found very strong support at the range it is trading now. He believes that the digital currency will hold on to that support and hit the $260 resistance level very soon. If the bulls can push the price of Ethereum over that resistance level, the ETH USD price will definitely break over the $300 mark. Can this happen before the end of this month? What is Ethereum price prediction for May? Will Ethereum recover in the short-term?
The ETH-BTC trading pair is also looking pretty bullish. It is on the rise, as Bitcoin (BTC) might soon start another massive price rally. The digital asset investor also predicted that the price of Bitcoin (BTC) could soon break over the $9k level. However, he said it might plunge to the $7,300 level before this rally will occur.
Ethereum Price Analysis – Ethereum Price Prediction – Ethereum News Today – Ethereum Price Forecast – ETH USD Live Price
At the press time, Ethereum (ETH) is supported at the $240 level. This level has proven to be a pretty strong one over the past days. On the upside, ETH USD price is facing a stiff hurdle at the $250 and $260 levels. A break over this level is what Ethereum needs to hit the $300 mark, which is presently our new short-term Ethereum price prediction 2019.