After a bout of sideways selling the cryptocurrency markets, Bitcoin and other significant cryptos have actually had the ability to amass an increase of purchasing pressure that has actually sent them climbing up today. Ethereum (ETH) is one significant cryptocurrency that has actually had the ability to climb up today, however it is dealing with growing resistance around its existing rate levels.
In spite of this resistance, one expert still has actually a target set for Ethereum around $200, which is substantially greater than its existing rate of $143
Ethereum (ETH) Deals With Fresh Resistance Level Around $144
At the time of composing, Ethereum is trading up over 3% at its existing rate of $1425. Earlier today, ETH rose to highs of $144 prior to being promptly lowered its existing rate levels, signifying that this rate is likely a fresh level of resistance.
Regardless Of this, UB, a popular cryptocurrency expert on Twitter, just recently described that it is necessary that ETH closes above $139 today in order for more gains to be possible, as a close listed below this rate would open evictions for more losses.
“$ ETH– Waiting on the everyday close prior to taking a position … A close listed below ~$139 would be crucial for me to participate in a brief position … $115 is still a location of interest for me if there’s drawback,” he described.
$ETH— Waiting on the everyday close prior to taking a position.
A close listed below ~$139 would be crucial for me to participate in a brief position.
— UB (@CryptoUB) March 16, 2019
Expert: ETH Still Likely to Target $200 in Near Future
Ethereum’s current rate action might be rather bullish from a long-lasting viewpoint, as DonAlt, another popular cryptocurrency trader on Twitter, just recently described that he is targeting $200 for ETH in the near-future.
“$ ETH: When I opened my swing ETH long at $100 a month ago I targeted $200 My macro view is still the very same, anticipating far greater costs … I have actually been bearish for the last 3 weeks, that has actually altered with current PA & this S/R turn. If I get stopped out I’ll attempt once again lower,” DonAlt described.
When I opened my swing ETH long at $100 a month ago I targeted $200
My macro view is still the very same, anticipating far greater costs.
I have actually been bearish for the last 3 weeks, that has actually altered with current PA & this S/R turn.
If I get stopped out I’ll attempt once again lower. pic.twitter.com/xvH8ohfjq9
— DonAlt (@CryptoDonAlt) March 15, 2019
If the crypto markets, led by Ethereum, have the ability to continue rising as the weekend drags out, it will likely set a favorable tone for the week ahead, and might lead Ethereum to climb up as high as $200, which would confirm DonAlt’s technical analysis.
Traders must look towards Bitcoin for assistance regarding where the marketplaces are heading next, as it is vital that BTC has the ability to keep above $4,000 in order for more gains to be possible.
Included image from Shutterstock.