- Ethereum (ETH) Recovers by Over 9 Percent as Buyers Flex Their Strength
- Can Ethereum Break Over the $220 In the Short-Term?
Ethereum News Today – Ethereum (ETH) is one of the top gainers among the top 10 cryptos over the past twenty-four hours. The digital currency has extended its upward trend after a massive selloff that pushed its price towards the $160 area. At the moment, ETH to USD has recovered enormously. The price of Ethereum is up by almost 10 percent over the past day, bringing ETH to USD price to $182.
This significant increase came as the entire digital currency market is recovering from a sharp plunge that happened overnight. Analysts are now giving bullish Ethereum price predictions; believing that ETH would break over the $220 level soon.
Ethereum (ETH) Price Today – ETH / USD
Ethereum (ETH) Recovers by Over 9 Percent as Buyers Flex Their Strength
At the press time, ETH to USD price is up by 9.2 percent according to CoinMarketCap. The price of Ethereum has moved from a low of about $163 to its current price of $182. The current upward trend of the digital currency is showing some signs of slowing down. However, the gains amassed by Ethereum is more than what Bitcoin (BTC) has seen over the past day. This suggests that the short-term price action of Ethereum would be separate from that of BTC, assuming it continues to remain stable around its present levels.
Many analysts were not surprised by the sudden increase in the price of Ethereum. A popular digital currency analyst on Twitter – HornHairs – gave his opinion in a tweet that he suspects that ETH price would continue surging higher in the short-term.
He said “Bullish 1W SFP at a confluent level. If I was a gambling man, I would bet she goes up from here.” He also referred to charts that show that Ethereum found strong support at its lower support boundary, which could mean that a surge to its upper boundary at $350 is imminent.
Can Ethereum Break Over $220 In the Short-Term?
The mid-term price prediction of Ethereum (ETH) is currently as high as $350. However, in the short-term, analysts believe that ETH to USD price may soon break over the $220 mark. Nevertheless, this movement may depend on upwards momentum and stability among BTC and other top digital currencies.
Another popular digital currency analyst – Moon Overload – also shared his opinion regarding the short-term performance of Ethereum. He pointed out to a chart that shows that the price of Ethereum might break over the $220 mark in the short-term. Ethereum is still surging higher, and its immediate resistance is at the $190 mark. A break over this level might pave the way for the short-term prediction of the coin.