After a number of lateral transactions in the cryptocurrency markets, Bitcoin and other large cryptos have generated an influx of buying pressures that are climbing them today. Ethereum (ETH) is an important cryptocurrency that has been able to climb today, but is facing growing resistance at its current price levels.
Despite this resistance, an analyst still has a target for Ethereum at around $ 200, which is considerably higher than the current price of $ 143.
Ethereum (ETH) has a new resistance level of around $ 144
At the time of writing, Ethereum trades more than 3% at the current price of $ 142.5. ETHE traveled to highs of $ 144 earlier today before quickly lowering current price levels, indicating that this price is probably a new level of resistance.
Nevertheless, UB, a popular cryptocurrency analyst on Twitter, recently stated that it is imperative that ETH close above $ 139 today to allow further profits, as a lock below this price would open the gates for further losses.
"$ ETH – Waiting for the daily closing before taking a position … An amount lower than $ 139 would be the key for me to take a short position … $ 115 is still an area of interest for me if there is a disadvantage, "he explained.
$ ETH – Wait for the daily closing before taking a position.
A slot below ~ $ 139 would be the key for me to take a short position.
– UB (@CryptoUB) March 16, 2019
Analyst: ETH is likely to target another $ 200 in the near future
The recent Ethereum price promotion can be pretty optimistic from a long-term perspective, as DonAlt, another popular cryptocurrency trader on Twitter, recently explained that he is targeting $ 200 for ETH in the near future.
"$ ETH: When I opened my swing ETH to $ 100 a month ago, I set up $ 200. My macro view is still the same and I expect much higher prices … I've been bearish in the last three weeks, which has changed with the recent PA & this S / R cover. If I quit, I'll try again, "explained DonAlt.
$ ETH :
When I opened my swing ETH to $ 100 a month ago, I founded $ 200.
My macro view is still the same and expects much higher prices.
I've been bearish for the last three weeks, which has changed with the recent PA & this S / R flip.
When I quit, I try again lower. pic.twitter.com/xvH8ohfjq9
– DonAlt (@CryptoDonAlt) March 15, 2019
If the cryptomarkets, led by Ethereum, can continue to fluctuate as the weekend drags, it is likely to set a positive tone for the coming week, and Ethereum could rise to $ 200, which would confirm DonAlt's technical analysis.
Traders should look to Bitcoin for advice on where the markets are going, because it is crucial that BTC can keep more than $ 4000 to make further profit possible.
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