Ethereum has begun climbing higher after facing some intense selling pressure over the past couple of days, which sent ETH from highs of $285 to lows of under $250 before it was finally able to bounce and begin climbing back towards its recent highs.<\/p>\n
In spite of this firm short-term bullishness, it is important to note that many analysts are claiming that the crypto could soon see further downside that leads it as low as $225.<\/p>\n
If it does visit this region, however, those same analysts widely concur that the support here could be enough to spark a massive parabolic uptrend that leads ETH surging past $300.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up just under 4% at its current price<\/a> of $265, which marks a notable climb from intra-plunge lows of under $250 that were set just over a day ago.<\/p>\n Ethereum\u2019s ability to climb from these lows suggests that bulls have some intense underlying strength, and it doesn\u2019t appear that this latest selloff was enough to invalidate the crypto\u2019s bullish market structure.<\/p>\n Now, analysts are noting that ETH is fast approaching a key resistance level that must be flipped into support if bulls want to propel it past $300 in the near-term.<\/p>\n George \u2013 a well-respected crypto trader on Twitter \u2013 spoke about this level, which just a hair above ETH\u2019s current price level, in a recent tweet, telling his followers that a break above it could rapidly send the cryptocurrency to $300.<\/p>\n \u201cETH: Mid is key. Flip it and say hello to $300. Might need a bigger retracement first. Sell your house if we retest $225,\u201d he bullishly noted.<\/p><\/blockquote>\n $ETH<\/a><\/p>\n Mid is key. Flip it and say hello to $300. Might need a bigger retracement first. Sell your house if we retest $225. pic.twitter.com\/DX9c5y0Jpg<\/a><\/p>\n — George (@George1Trader) February 21, 2020<\/a><\/p><\/blockquote>\n\n