Ethereum Price Analysis: ETH/USD on its way to $200 after crossing $180 barrier.
- ETH/USD crossed the $180 barrier this Monday for the first time since November 2018.
- ETH/USD is on its way to $200 after having already breached past the 200-day simple moving average.
ETH/USD went up from $176 to $182 this Monday. In the process, ETH/USD managed to breach the $180 barrier for the first time since November 2018. There is every chance that ETH/USD is going to hit the $200 barrier.
An analyst who goes by ScienceGuy9489 predicted that Ethereum is in a breakout ‘attempt’ on its way up to $200. He had earlier predicted that a breakout of Ethereum by April 24, 2019, which would see the market to continue to climb higher toward the $2000 level. It looks like the breakout may have already happened.
ETH/USD Daily Chart
-636903608552212481.png)
- ETH/USD is on its way to breach resistance at $188 and $196 before testing the $200 barrier.
- The bulls seem to have the momentum in their favor, as per the moving average convergence divergence (MACD).
- The 20-day simple moving average and the 50-day simple moving average is on their way to converge with the 200-day simple moving average, which is a bullish sign.
- The last two sessions on the daily chart have taken the market above the upper curve of the 20-day Bollinger band.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
