{"id":397462,"date":"2019-09-29T21:30:14","date_gmt":"2019-09-29T21:30:14","guid":{"rendered":"https:\/\/wncen.com\/?p=397462"},"modified":"2019-09-29T16:09:02","modified_gmt":"2019-09-29T16:09:02","slug":"analysts-expect-further-upside-for-ethereum-set-near-term-target-at-230","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/analysts-expect-further-upside-for-ethereum-set-near-term-target-at-230\/","title":{"rendered":"Analysts Expect Further Upside for Ethereum; Set Near-Term Target at $230"},"content":{"rendered":"
After losing its foothold within the lower-$170 region, Ethereum\u2019s recently incurred upwards momentum appears to have faltered, as ETH has now dropped below the $170 level as Bitcoin revisits its key near-term support level at $8,000.<\/p>\n
Analysts are now expressing mixed sentiments when it comes to ETH, but are generally offering a sentiment that can best be defined a tempered bullishness, with some offering near-term targets of over $180, while others anticipate it to visit $230 next.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down over 3% at its current price<\/a> of $167, which marks a slight retrace from its recent highs of nearly $176 that were set yesterday.<\/p>\n It is important to note that Ethereum \u2013 unlike Bitcoin and other major altcoins \u2013 has been able to post a relatively strong bounce from its recent lows that were set at under $160 earlier this past week.<\/p>\n In the near-term, analysts believe that ETH<\/a> could climb to the upper boundary of its recently established trading range between roughly $167 and $183, but it is imperative that it bounces at its current price level or else significantly further losses could be imminent.<\/p>\n CryptoGainz, a popular crypto analyst on Twitter, spoke about this in a recent tweet, noting that he thinks ETH will visit $180+ next.<\/p>\n \u201c$eth looks good to me. bullish s\/r flip on the 30M. rejection of lows on the 4H. I think we see 180+,\u201d he noted.<\/p><\/blockquote>\n https:\/\/twitter.com\/CryptoGainz1\/status\/89049344<\/p>\n CryptoGainz is not alone in his bullish near-term assessment of Ethereum\u2019s price action, as Nik Patel, another popular crypto analyst, explained in a recent blog post<\/a> that he believes ETH will face some consolidation at its current price levels before surging back towards its multi-month highs around $230.<\/p>\n \u201cLending further weight to the bullish scenario is the bullish divergence printed on the wick down to $151. As such, I am expecting some consolidation here followed by another leg up to test $230,\u201d he noted.<\/p><\/blockquote>\nCould ETH Soon Form a Fresh Upwards Leg Towards $230?<\/strong>\u00a0<\/strong><\/h2>\n