Ethereum has incurred some bullish momentum over the past 24-hours but has retraced slightly from its daily highs. ETH\u2019s volatile price action has come about concurrently with Bitcoin\u2019s massive surge to highs of over $10,000.<\/p>\n
It is important to note that one analyst is now explaining that Ethereum may surge towards $260 next based off of its recently formed technical patterns, which would mark a significant surge from its current price levels.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up nearly 3% at its current price<\/a> of $179.60, and it has been able to post a significant recovery from its weekly lows within the mid-$150 region that were set concurrently with Bitcoin\u2019s downwards movement to the lower-$7,000 region.<\/p>\n Ethereum\u2019s surge yesterday evening came about alongside Bitcoin\u2019s meteoric rally, which sent it to highs of roughly $10,300 before it incurred a massive influx of selling pressure that pushed its price down to the lower-$9,000 region.<\/p>\n Bitcoin\u2019s inability to find any solid support within the upper-$9,000 region signaled that bulls had overextended themselves, and similarly led Ethereum to face similar price action.<\/p>\n Overnight ETH<\/a> hit highs of just under $200 before it lost its momentum and quickly retraced to lows of under $180, and it has been consolidating ever since.<\/p>\n In the near-term, it is highly probable that Bitcoin\u2019s price action will steer that of ETH and other major altcoins.<\/p>\n Josh Olszewicz, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that that ETH\u2019s<\/a> cloud formation and current trend channel may point to the possibility that it is positioned for a movement towards $260 in the coming month or so.<\/p>\n \u201c$ETH 183 \u2014> 260 e2e looking likely in nov,\u201d he explained while pointing to the chart seen below.<\/p><\/blockquote>\n $ETH<\/a> 183 \u2014> 260 e2e looking likely in nov pic.twitter.com\/yFxAhDukA9<\/a><\/p>\n — #333kByJuly2025 (@CarpeNoctom) October 26, 2019<\/a><\/p><\/blockquote>\nETH May Hit $260 in Near-Term, Claims Analyst<\/strong><\/h2>\n
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