Although the crypto markets have lost the upwards momentum that they incurred over the past few weeks that sent Ethereum (ETH) and other cryptocurrencies skyrocketing, the markets have been able to find some buying pressure at their current levels that has prevented them from dipping lower.
Analysts now believe that Ethereum may be mustering up more buying pressure that will allow it to surge towards $200 in the near-future.
Ethereum (ETH) Finds Stability Above $160
At the time of writing, Ethereum is trading down marginally at its current price of $164.70, up slightly from its daily lows of $161.
Over a one-week period, ETH has surrendered all of the gains it incurred, as it is currently trading just slightly above its weekly lows that were set last weekend. Despite this, the cryptocurrency is up significantly over a one-month period, as it is currently trading up from monthly lows of just over $130.
Hsaka, a popular cryptocurrency analyst on Twitter, shared his thoughts on…
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