Ethereum Price Analysis
Ethereum is looking entirely bullish at the moment as the coin’s price value is heading upward at a steady pace. For the past few days, ETH’s price has been trading fairly well and has come very close to reclaim its past resistance level at $250. Currently, the price of the token is trading greenish at $245 with a change of +3.22% in 24 hours.
$250 is the short-term target now
The second-ranked cryptocurrency has been attempting for a long while to retest $250 but every time its price came near to this level it failed to overtake it. The last attempt from the coin took it all the way down to $230 area where it has been trading sideways for some time.
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Since Sunday, ETH’s price has gained some momentum and the trend-line has started flowing in the upward direction. With over 10% gains in the last few days, the price value of the coin has once again jumped over $240 which has set the uptrend for the coin.
Now the short-term target for ETH is $250 which the coin would try to overtake in the coming days. Currently, the $240 is the crucial zone for the coin which needs to be sustained. If it fails to hold here, it might not be able to reach its target.
What’s the big line for Ethereum?
Suppose the coin succeeds to overtake $250 in the short-term case scenario then what is the next for the coin what is the big line for ETH? As for as it seems the token will struggle for overtaking its past level at $300 which is the big line for Ethereum.
If we explore the past statistics of the coin, we would come to know that it has been able to break above this big line for a few years. In the present year, it tried to overtake $300 right before the lockdown but could not do so. And after that, it has not gone near to this level so far.