The global market meltdown has continued today, with the U.S. equities market plummeting as Bitcoin and most major altcoins also post some notable losses. This decline today led Ethereum to lows of $105, which is where it was able to find some support.<\/p>\n
Analysts are now noting that there is a critical support region that Ethereum has established within the lower-$100 region, with a continued defense of this level being imperative for it to see further upside.<\/p>\n
If bulls are able to guard against a dip below this level in the near-term, one prominent trader is noting that the crypto could soon rally up to highs of $180.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down just under 10% at its current price<\/a> of $113, which marks a notable decline from daily highs of over $130 that were set yesterday in tandem with Bitcoin\u2019s climb to highs of nearly-$6,000.<\/p>\n At the bottom of today\u2019s selloff, the cryptocurrency was able to find some notable support at $105, which appears to be a key near-term support level for ETH.<\/p>\n Calmly, a popular cryptocurrency trader on Twitter, explained in a recent tweet that he believes Ethereum could see some near-term upside due to the strong support that has been established within the lower-$100 region.<\/p>\n \u201cEthereum – Trying an ETH long here, mainly because I don’t think that stock market is collapsing today,\u201d he explained, pointing to chart showing a near-term upside target of $135.<\/p><\/blockquote>\n #Ethereum<\/a> \/ $ETH<\/a> – Trying an $ETH<\/a> long here, mainly because I don't think that stock market is collapsing today pic.twitter.com\/yeuseJKxcR<\/a><\/p>\n — Calmly | full-time trader (@im_calmly) March 16, 2020<\/a><\/p><\/blockquote>\n\n