Back

Ethereum (ETH) Price Analysis — Bouncing Off With Potential Target of $250

Price Predictions
Mon, 06/22/2020 - 11:32
article image
Denys Serhiichuk
Will Ethereum (ETH) outperform Bitcoin (BTC) in the current growth wave?
Ethereum (ETH) Price Analysis — Bouncing Off With Potential Target of $250

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Cover image via www.tradingview.com

After trading sideways over the weekend, the market has chosen to follow a bullish scenario. All of the top 10 coins are in the green zone while Ethereum (ETH) is the top gainer, having risen 2.20%.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Due to this rise, the market capitalization has also risen over the past 24 hours and is now $264.8 Bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for Ethereum is as follows.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,243,457,198

  • Price: $235.47

  • Volume (24h): $6,766,194,827

  • Change (24h): 2.34%

The data is relevant at press time.

ETH/USD: Another Attempt to Conquer the Local Heights

On Saturday, the price of Ethereum (EHT) fluctuated in the lateral range, below the two-hour EMA55. On Sunday, we managed to gain a foothold in the field of average prices, and only this morning, buyers on small volumes managed to break above the resistance of $233.33.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

During the day buyers were supporting growth in large volumes, and the pair will continue to recover to the POC line ($243.36). In case the volume does not increase, then Ethereum (ETH) will roll back to the area of average prices.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) has come out of the consolidation area, having confirmed its short-term bullish scenario. The rise is accompanied by relatively high trading volume which is a positive sign for bulls. What is more, the liquidity is also quite high in the current zones. To sum up, the altcoin could keep rising to the nearest obstacle at $237, which will serve as an important resistance.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

The daily chart is not as optimistic as the 4H chart. Trading volume is not rising, which means the ongoing growth is just a bounce before a more profound decline. A more likely move from Ethereum (ETH) will be a test of the top level of the falling channel, followed by a drop to $220

Ethereum is trading at $234.93 at press time.

article image
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
article image
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Cover image via www.tradingview.com

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 at press time.

article image
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.