The aggregated crypto markets have been firmly locked in an upwards trend over the past several weeks, mainly due to Bitcoin\u2019s series of surges that brought it from recent lows of roughly $4,000 to highs of $8,400. This surge has allowed other cryptocurrencies, including Ethereum (ETH), to also put some distance between their current prices and their recent lows.<\/p>\n
Although the market conditions have improved significantly as a result of this upwards momentum, in order for Ethereum and other cryptos to climb higher, it is critical that BTC continues climbing higher and breaks into the $8,000 region.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up 1.5% at its current price of $255, up slightly from its daily lows of $250 which were set earlier today. Over the past several days, ETH has been able to hold above $250 on several occasions, which may signal that this is a level of support for the crypto.<\/p>\n While looking at Ethereum\u2019s chart over the past month, it has been able to surge from lows of $155 to highs of $275, before dropping slightly and stabilizing at its current price levels.<\/p>\n Whether or not ETH continues surging higher in the near-future likely depends most on whether Bitcoin is able to break above the lower-$8,000 region, which has proven to be a level of resistance for the cryptocurrency.<\/p>\n Mayne, a popular cryptocurrency analyst on Twitter, spoke about both Bitcoin<\/a> and Ethereum in a recent tweet, noting that BTC needs to hold above $7,884, and ETH needs to break through $260 in order for the two cryptos to further extend their upwards momentum.<\/p>\n \u201c$BTC – Need to hold $7884 and red OB for upside target $9k+. Break below red OB I expect $7300 and maybe lower to $6400. $ETH – USD pair needs to break and close thru $260 to get to $300. BTC pair had a nice reaction of range low if we can hold EQ and flip grey OB looks good,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a> – Need to hold $7884 and red OB for upside target $9k+. Break below red OB I expect $7300 and maybe lower to $6400.$ETH<\/a> – USD pair needs to break and close thru $260 to get to $300. BTC pair had a nice reaction of range low if we can hold EQ and flip grey OB looks good. pic.twitter.com\/erC1aiDmwH<\/a><\/p>\n — Mayne (@Tradermayne) May 22, 2019<\/a><\/p><\/blockquote>\n\n