- Ethereum has gained over 50% of its value since the beginning of the year.
- ETH/USD bulls set their eyes at critical resistance $200.00.
Since the start of the year, Ethereum investors earned nearly ten times more than Bitcoin hodlers. The second-largest digital asset has gained over 55% in 2020, while Bitcoin is only 6% higher from the first of January 2020. ETH/USD has grown by 4% since the start of the day and become the best-performing crypto asset out of top-10.
At the time of writing, ETH/USD is changing hands at $196.00. It is moving within a short-term bullish trend amid high volatility.
Whales stir the market
According to the Wale Alert Twitter bot, large cryptocurrency investors known as whales moved over 1.2 million ETH coins in eight transactions worth $241,774,447 in the recent 20 hours. The fee for each transaction did not exceed $1, and all of them were made from unknown wallets to other unknown wallets.
Such whale activity may be a precursor of large market movements.
ETH/USD: Technical picture
ETH/USD settled above daily SMA100 (currently at $186.00) and continued gaining ground. Now that psychological $190.00 turned from a resistance to support level, ETH has a chance to retest $200.00 in the nearest sessions. If this critical barrier is broken, the buying pressure will increase with the next upside target as high as SMA200 at $248.00 and $250.00.
On the downside, a sustainable below daily SMA100 will negate the immediate bullish scenario and bring $180.00 back into focus. The critical support is created by the upside trend line from March 13 low (now at $175.00). The long-term recovery remains valid as long as the price stays above this trendline.
ETH/USD daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Bitcoin recovers above $85,000 while institutional investors offload their holdings
Bitcoin (BTC) recovers slightly and trades around $86,000 at the time of writing on Thursday after falling nearly 15% at one point this week. US President Donald Trump’s ongoing tariff news and falling institutional demand fueled the BTC’s correction.

ONDO Finance partners with Mastercard: Tokenized Real-World Assets to Multi-Token Network
Ondo Finance announces a partnership with Mastercard to bring tokenized Real-World Assets to Mastercard’s Multi-Token Network.. This integration will bring Ondo’s OUSG token to MTN, enabling businesses to access the benefits of tokenized treasuries seamlessly.

Solana Price Forecast: DTCC lists first SOL futures ETF, will it avert $130 breakdown?
Solana price edges higher and trades near $140 at the time of writing on Thursday after tumbling from $172 to $134 this week as FTX estate’s impending token unlock looms ahead despite early gains from a new SOL Exchange Traded Fund listing.

XRP remains in murky waters as SEC drags feet in dismissing its case against Ripple
XRP has witnessed heavy losses since the beginning of the week, dropping nearly 15% as the crypto market stretches its losses. Ripple community members continue to expect an end to the SEC's multi-year lawsuit as the agency closes another investigation.

Bitcoin: BTC demand and liquidity conditions remain weak
Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.