{"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

Ethereum Dips Below $170 as Bitcoin Faces Increased Selling Pressure<\/strong><\/h2>\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

Could ETH Soon Form a Fresh Upwards Leg Towards $230?<\/strong>\u00a0<\/strong><\/h2>\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>\n

Although Ethereum on its own may soon incur some bullishness, it is highly probable that its near-term price action will remain strongly correlated to that of Bitcoin\u2019s<\/a>.<\/p>\n

Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"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. 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. Ethereum Dips Below $170 as Bitcoin Faces Increased Selling Pressure At the time of writing, Ethereum is trading down over 3% at its current price of $167, which marks a slight retrace from its recent highs of nearly $176 that were set yesterday. 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. In the near-term, analysts believe that ETH 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. CryptoGainz, a popular crypto analyst on Twitter, spoke about this in a recent tweet, noting that he thinks ETH will visit $180+ next. \u201c$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. https:\/\/twitter.com\/CryptoGainz1\/status\/89049344 Could ETH Soon Form a Fresh Upwards Leg Towards $230?\u00a0 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 that he believes ETH will face some consolidation at its current price levels before surging back towards its multi-month highs around $230. \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. Although Ethereum on its own may soon incur some bullishness, it is highly probable that its near-term price action will remain strongly correlated to that of Bitcoin\u2019s. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":397464,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[6664,8323,1946],"class_list":["post-397462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-crypto","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nAnalysts Expect Further Upside for Ethereum; Set Near-Term Target at $230<\/title>\n<meta name=\"description\" content=\"Analysts are expressing mixed sentiments when it comes to Ethereum (ETH), but are generally offering a sentiment that can be defined a tempered bullishness.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/analysts-expect-further-upside-for-ethereum-set-near-term-target-at-230\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysts Expect Further Upside for Ethereum; 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