Ethereum (ETH) has posted a strong bounce from its recent lows and has not yet faced any notable rejection after climbing from these lows. This slight upwards momentum has come about as Bitcoin finds increasing stability around the $8,000 region.<\/p>\n
Analysts are now noting that Ethereum could incur massive upside in the future, although other analysts are also explaining that ETH may further extend its recently incurred downwards momentum in the short-term.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up nearly 5% at its current price<\/a> of $173, which marks a notable surge from its recent lows of under $160 that were set earlier this week concurrently with Bitcoin pushing below the $8,000 region.<\/p>\n ETH\u2019s ability to surge from these lows signals that the crypto does have some underlying bullishness, but it is important to note that it is still trading down significantly from its recent highs of over $220.<\/p>\n In the near-term, analysts still believe that ETH<\/a> may incur further bearishness, as Horn Hairs \u2013 a popular cryptocurrency analyst on Twitter \u2013 recently explained that the crypto is currently pushing up against a significant resistance zone that is likely to force it lower in the near-term.<\/p>\n \u201c$ETH inverse weekly chart: What in God’s name makes you \u2018bullish\u2019 here? People calling for lower feels a lot like when people call altseason when we get a bearish retest into resistance,\u201d he explained in a recent tweet.<\/p><\/blockquote>\n $ETH<\/a> inverse weekly chart<\/p>\n What in God's name makes you "bullish" here? People calling for lower feels a lot like when people call altseason when we get a bearish retest into resistance. pic.twitter.com\/hzIO9vCqMt<\/a><\/p>\n — HornHairs \ud83c\udf0a (@CryptoHornHairs) September 28, 2019<\/a><\/p><\/blockquote>\n\n