Ethereum lays the foundation for a rally towards $ 140
Ethereum and the entire crypto market has risen slightly today. Analysts are now finding that the strong support that Ethereum has in the lower 100 – Dollar region has built up, could just be enough to push it up in the coming days and weeks, as a prominent trader explains that ETH will soon be heading towards 140 dollar could rise.
Nevertheless, there is a bearish technical formation in which ETH is currently trapped and which the bulls have to override, as an inability to do so could open the gates for further losses.
Ethereum stable at 115 dollar as Bitcoin shows signs of breaking correlation with global markets
At the time of writing, Ethereum is trading at 121 dollars . This stability is the result of the performance of Bitcoin, which has been in the range of 5 in the last few days. 000 $ moved.
Importantly, it appears that Ethereum is currently trapped in a bear pennant, which means that a further downward movement could be imminent. Jonny Moe, a popular analyst, recently tweeted about it and said:
If you're leaning bullish, $ ETH sure looks like a cleaner pennant. pic.twitter.com/N5tMT7lumy
– Jonny Moe (@JonnyMoeTrades) March 18, 2020
ETH could increase further with continued support
Michaël van de Poppe, another respected crypto analyst, said in a recent tweet that he believes the support that Ethereum has in the region of lower 100 dollar has established, could be enough to raise ETH in the coming days.
“The same applies to Ethereum. Holding green, I expect a test of $ 135 – 140. However, if we lose green, I will 80 / 92 / 103 aiming for dollars next, probably around the lows, ”he explained while he pointed to the levels in the graph below.
$ ETH #ETHEREUM
Similar here for Ethereum.
Holding green and I expect a test of $ 135 – 140 to occur.
However, losing green and I'll be targeting $ 80 / 92 / 103 as next levels, probably around the lows. pic.twitter.com/ntSYB8ZG3u
– Crypto Michaël (@CryptoMichNL) March 18, 2020
Proof of text: newsbtc
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