Bitcoin turned the screw on $5,300 right now and notched a brand new 2019 all-time excessive at $5,352 on Coinbase. The ETH-USD pairing adopted swimsuit and the highest altcoin now seems to be able to have a go at $200.

Ethereum Value Evaluation: Market Assessment

Earlier within the week, Ethereum value 00 marched by the $155 resistance and on over the weekend the altcoin tackled the resistance stage at $165. As soon as above $165 it has been actually blue sky breakout for ETH and the altcoin now trades at $185. The following ranges to interrupt are $200 and $225.

Investor sentiment for Ethereum has additionally acquired a lift and over the weekend and various analysts instructed that the ETH-USD pairing was rising more and more bullish and plenty of known as for a run to $190 to $200.

Ethereum Traditional (ETC) 00 additionally pumped exhausting within the earlier hours of Sunday, March 7. The overall idea of a rising tide lifting all ships may be serving to to carry ETH value as the general cryptocurrency market advantages from Bitcoin’s current pattern reversal.

ETH-USD Shorts


ETH-USD shorts proceed to drop to new all-time lows and ETH-USD longs have reached a brand new all-time excessive. The ETH-BTC pairing has additionally lastly turned bullish and the 12 EMA just lately crossed above the 26 EMA as ETH exploded above the higher arm of the Bollinger Band indicator.


1-Hour Chart

On the time of writing ETH seems set to briefly decide on the 78.6% Fib retracement stage at $180 (26 EMA) and there’s additionally assist at $174.66 (61.8%). Ethereum value stays in good order so long as it stays above the ascending trendline at $170, which additionally strains up with the 50% Fib retracement.

4-Hour Chart

At present, the 4-hour MACD, Stoch and RSI are all bullish and ETH 00 additionally broke above the bearish trendline on the RSI. The hourly chart suggests ETH is cooling off after a powerful run and a fast look on the order ebook on Coinbase and Kraken reveals robust shopping for curiosity at $180 so doable entries into ETH vary from $180 to $174.

How quickly do you assume ETH will attain $200? Share your ideas within the feedback under.

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[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex and Coinbase.]

Photographs courtesy of Shutterstock, TradingView. Market information sourced from Bitfinex and Coinbase