Ethereum Price Analysis: ETH/USD $200 reclaim around the corner
|- Ethereum holding chunky gains of over 20% during trading on Monday.
- ETH/USD just a small barrier away from reclaiming the big psychological $200 mark.
Ethereum into the second part of Monday’s session, was trading up with huge gains of over 19%. The bulls are solidifying their recovery stance, as the weekly and now monthly candle for December, look very much attractive for a retest of the 2017/18 high area.
ETH/USD is fast gunning towards its second week of gains, following the strong finish in the prior week. That had marked the first one closed in the green since the week commencing 5th November, which was some five weeks.
The next eyed target for the bulls is the big psychological $200 mark, it is making solid ground towards this. Just a minor barrier seen tracking from $170-185 range, outside of this, it should be a fast move back into $200 territory.
ETH/USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.