Ethereum Price Prediction After The Crypto Surge: ETH To Hit $225 As A Primary Target
During the past few weeks, the crypto market has returned to a bullish state. Bitcoin, Ethereum and more digital coins have been able to surge a lot during these days.
Smartereum notes that there are no particular factors that are responsible for this rise in the price of digital assets.
Cryptos surged even after the Binance hack
More than that, this happened following the important Binance hack that took place not too long ago.
It seems that the decision is to halt trading for at least a week while the crypto exchange investigates the loss of 7,000 Bitcoin.
Some crypto experts have been saying that the fact that BTC and more cryptos were able to surge a lot even after the hack shows that the crypto market has matured and prices are not connected to the headlines anymore.
Smartereum mentions that the fact that Ethereum will be starting its Proof of Stake integration could be a factor that triggered the boost in the coin’s price.
They also say that there’s a key development that has affected the price of ETH: the network’s transition to PoS (Serenity.)
The price of ETH has gained a bullish momentum during the last days against the USD.
It seems that ETH’s price is now eyeing an upward movement after it recently broke $190.
ETH price prediction
The online publication mentioned above notes that the bulls pushed prices above $200 before a new monthly high formed at $206 and then, “a sharp downside correction was initiated below $200 and $190. The price of Ethereum traded under the 50% Fibonacci retracement position via the last wave from $169 to $206.”
They also note that the next key resistance positions for the bulls are $210 and $220.
According to the online publication, the primary target for the bulls is between $220 and $225.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.