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.<\/p>\n
Analysts now believe that Ethereum may be mustering up more buying pressure that will allow it to surge towards $200 in the near-future.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down marginally at its current price of $164.70, up slightly from its daily lows of $161.<\/p>\n 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.<\/p>\n Hsaka, a popular cryptocurrency analyst on Twitter, shared his thoughts on Ethereum\u2019s current price action, explaining that its strong reaction to an incredibly brief drip below $160 is bullish, but further adding that ETH still faces resistance at approximately $169.<\/p>\n \u201c$ETH target hit. Strong reaction to the 158 level (previous resistance + low of rangebound zone.) 169 and 174 are intraday resistances I’m watching. Covered half of my 184 short, letting the rest run in case we sweep 155 and then continue up,\u201d he explained in a recent Tweet.<\/p><\/blockquote>\n $ETH<\/a> target hit \ud83c\udfaf<\/p>\n \u2022 Strong reaction to the 158 level (previous resistance + low of rangebound zone) Covered half of my 184 short, letting the rest run in case we sweep 155 and then continue up. pic.twitter.com\/Gn1inmgTLX<\/a><\/p>\n — Hsaka (@HsakaTrades) April 12, 2019<\/a><\/p><\/blockquote>\n\n
\u2022 169 and 174 are intraday resistances I'm watching.<\/p>\n