Ethereum has been caught within the throes of an incredibly intense and unwavering uptrend over the past several days, with ETH rallying up towards $225 before finding some intense resistance that halted its rally.<\/p>\n
It is important to note that this intense uptrend may be far from over, as the cryptocurrency recently broke through multiple key resistance levels that were previously suppressing its price action.<\/p>\n
These breakouts are highly likely to catalyze significantly further upside, with analysts noting that ETH is likely to see significant upside against both Bitcoin and USD.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up just under 2% at its current price<\/a> of $225, which marks a notable recovery from its daily lows of $215 that were set at the bottom of an overnight selloff that the crypto experienced.<\/p>\n This selloff, albeit fleeting, came about in tandem with a downturn seen by Bitcoin and the aggregated crypto market, but buyer\u2019s quick response to this intense selling pressure points to some underlying strength.<\/p>\n In the near-term, it is highly probable that ETH will continue seeing further upside against USD.<\/p>\n The Cryptomist, a popular crypto analyst on Twitter, explained in a recent tweet that ETH had some intense resistance at $222, but its subsequent break above this level seems to suggest the crypto will see further upside.<\/p>\n Based on her analysis, this means that it could rally all the way to $282 before it slows down.<\/p>\n \u201cETH: Reached the $222 resistance mentioned other day. Question is do we see a pullback first before reaching the $282 which is the next target. Close above $222 on weekly may suggest we go there straight away,\u201d she noted.<\/p><\/blockquote>\n https:\/\/twitter.com\/TheCryptomist\/status\/36906240?s=20<\/p>\n In addition to breaking out of its key USD resistance, Ethereum<\/a> has also been able to break above some key Bitcoin<\/a> resistance levels, suggesting that ETH will significantly outperform the benchmark cryptocurrency in the near-term.<\/p>\n Luke Martin, a highly respected cryptocurrency analyst on Twitter, explained in a tweet that he believes ETH will rally from its current price of 0.023 BTC to its next BTC resistance at 0.0267 in the near term.<\/p>\n \u201cThe ETH breakout is beautiful. – Want to stay long targeting at least .0267 – Wrong if daily starts closing back below .0218,\u201d he explained.<\/p><\/blockquote>\n The $ETH<\/a> breakout is beautiful. <\/p>\n \u2022Want to stay long targeting atleast .0267 — Luke Martin (@VentureCoinist) February 8, 2020<\/a><\/p><\/blockquote>\nETH to Also See Significant Upside Against BTC After Breaking Key Level<\/strong><\/h2>\n
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\u2022Wrong if daily starts closing back below .0218 pic.twitter.com\/cKQySc5RoQ<\/a><\/p>\n