Ethereum (ETH) has surged today, marking an extension of the upwards momentum that it incurred earlier this week when the crypto surged nearly 7% after Bitcoin posted a strong bounce at its range lows of roughly $7,800.<\/p>\n
This bullishness appears to be lifting the aggregated crypto markets, and it is highly probable that further ETH gains will be fueled by a drop in Bitcoin\u2019s dominance over the aggregated crypto markets.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up roughly 6% at its current price<\/a> of $190, which marks a notable surge from its recent lows of $171 that were set earlier this week before it began incurring notable upwards momentum.<\/p>\n This surge comes about as multiple major altcoins have incurred momentum as Bitcoin<\/a> ranges within the lower-$8,000 region, and most major altcoins including Ethereum appear to be unfazed by the recent bearishness that BTC has incurred ever since it plummeted below $10,000.<\/p>\n In the near-term, it is highly probable that Ethereum will extend its upwards momentum, as it appears to have broken above a key resistance level that was previously proving to be a region of resistance.<\/p>\n Crypto Loomdart, a popular cryptocurrency analyst on Twitter, recently spoke about this level prior to Ethereum\u2019s surge this morning, noting that its reaction to the level will likely lead to notable volatility.<\/p>\n \u201c$ETH at an important price here in $BTC terms, fakeout resistance before it plunged. Should get pretty exciting,\u201d he noted while pointing to the below chart.<\/p><\/blockquote>\n $ETH<\/a> at an important price here in $BTC<\/a> terms, fakeout resistance before it plunged <\/p>\n should get pretty exciting pic.twitter.com\/0VG6fL7gW5<\/a><\/p>\n — loomdart – Holy War Arc (@loomdart) October 9, 2019<\/a><\/p><\/blockquote>\n\n