By the starting of the new week, we have started to observe a positive trend on all of the cryptocurrencies. Besides, the crypto market gives positive signals for uptrend as well. Additionally, Ethereum which is one of the top altcoins gained a whopping 12% value which made it one of the top ten best performers.
During the preparation of this news, the world’s second largest cryptocurrency ETH (Ethereum) has already appreciated by 6.78% from yesterday’s price. According to Coindesk’s price index, it currently has a price value of $145.48. It means a short-time rally which was started from $123.
Ethereum 24-hours price chart, Source: Coinmarketcap
ETH (Ethereum) reward-reduction has been accomplished in 2 weeks, and it is evident that the Ethereum buyers have just started a short-term rally.
Primary shift potential assumption of the analysts
While Ethereum prices are heading higher levels, traders and cryptocurrency analysts expect higher rates and mention positive expectations.
ETH/BTC pushing over the 200 day moving average for the first time in months. Also a 50/200 cross seems imminent. Major shift potential. pic.twitter.com/YzbowSw9ju
— Ledger Status (@ledgerstatus) February 17, 2019
According to crypto trader “Hsaka“, Ethereum price is in the bullish area. And this is a strong signal for testing the above $145 price levels.
Not in an ETH position currently, but once this breaks up from here, I think the white level is a first target. pic.twitter.com/jEc1Y8gKS9
— Hsaka (@HsakaTrades) February 17, 2019
Additionally, another crypto trader “DonAlt” predicts that the ETH/USD pair will have the potential to increase more.
I’m incredibly bullish on $ETH for the next few weeks.
I’d get a cardboard Vitalk cutout if I could just so I have it by my side 24/7.No matter what BTC does ETH will outperform the market in my mind.
I’ll use dips as giant buying opportunities.— DonAlt (@CryptoDonAlt) February 17, 2019
As we are all expecting an uptrend from Bitcoin, ETH (Ethereum) has already reached to $145 price level and has got the strong potential of climbing higher.
ETH has gained the second-ranking from XRP and is preparing for a strong show-up at the upcoming 27-February event.
ETH gave some good opportunities this morning with a quick move up.
Raided the highs and is now retracing.
Depending on today’s daily close I’ll be targeting the $115 area for ETH.
That’d probably bring back all the bears that got stopped / liq’d on the move up. pic.twitter.com/n1x9weymSf— DonAlt (@CryptoDonAlt) February 17, 2019
200-days moving average is a critical price level for Ethereum
If this positive outlook is continued for Ethereum, we will most probably see the upper levels of $147 which is the 200-days moving average price. This level will be an indicator of the continuity of the uptrend.
A correction down to $130 price level would be acceptable. Below $130 level daily closings will confirm the reversal trend and can be perceived as a downtrend pattern. Experts are expecting strong support at $130 price level, and ETH is likely to test above $145 price levels.
Above all, ETH/USD pair has not entered into any correction move. So, we may expect short-term declines and long-term increases in prices.
