In just a few days, the price of ETH dropped from $ 249 to a low of $ 201 at the time of writing. The drop came after Bitcoin bull Anthony Anthony Complete said that “the idea that ETH is money is basically flawed”.
Cryptocurrency analysts continue to raise prices on Ethereum, hoping it will regain some of the previous highs.
$ 215-220 target for ETH
Crypto analyst Michael believes that Vitalik Buterin's ETH may soon return to $ 215- $ 220. However, the analyst believes that it will drop to a lower level than currently ($ 170- $ 180) in long-term.
This one couldn't break up either and provided a bearish retest.
Hit $ 195;https://t.co/Wcli20nJiQ
But think we'll see a bounce towards $ 215-220 before I'm entering $ 170-180 as serious long zones. pic.twitter.com/t6yo3FOXPe
– Crypto Michaël (@CryptoMichNL) March 9, 2020
Trader CryptoWolf also raised the price for ETH, posting a chart showing the price of ETH breaking out of the falling wedge model. Trader marks the next position for ETH in the upward direction of 0.02336 ($ 449).
ETHBTC holding as a Champ, i wish we could test 0.02336 though. pic.twitter.com/k4ELBMh1np
– CryptoWolf (@IamCryptoWolf) March 9, 2020
Time to breakout up
Trader Posty shared a 12-hour ETH / BTC chart that shows Ethereum continues to trade in a sideways range. If there is a bullish breakout out of range, now is the time.
The range continues …#ETH is my signal for when I should put more attention towards alts again.
If we have a bullish break out of this range, then documented time. Until then, focusing most of my time on Bitcoin PA. pic.twitter.com/H1x4ipxkee
– Posty (@PostyXBT) March 9, 2020
Meanwhile, Weiss Ratings has reprimand Pomp (though not named) for supporting government-backed stablecoins, instead of ETH. The agency added that, at the moment, Ethereum is what is pushing the crypto industry forward.
You can see the price of ETH here.
Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Annie
Bitcoin Magazine
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