- Ethereum’s daily resistance ranges somewhere around $286 and there’s no way that this trend will pause before the next resistance.
- Josh Rager in his recent tweet mentioned, if ETH closes and breaks the $307, then there’s a greater probability of it hitting the $400 mark.
- As of now, ETH is trading at $307.00 and is up by 2.60% in the last 24 hours.
Recently, Josh Rager, crypto analyst and the founder of Blockroots.com tweeted about Ethereum’s rising price. He said that Ethereum’s daily resistance ranges somewhere around $286 and there’s no way that this trend will pause before the next test. The test of breaking out the $307 mark. He further explains that if ETH closes and breaks the $307, then there’s a greater probability of it hitting the $400 mark at least on higher time frames.
$ETH— Josh Rager ? (@Josh_Rager) July 24, 2020
Daily resistance around $286 and no close here means potential pullback, before the next test
But above that around $307 is the big test
Once $ETH breaks and closes above $307 – I don't see long until it hits over $400 – at least on higher time frames pic.twitter.com/AukXcIypvh
Ethereum (ETH) Prices Explode Since The Start Of The Week
A long-awaited Ethereum explosion is finally here now. As of now, ETH is trading at $307.00 and is up by 2.60% in the last 24 hours. The total market capitalization is $34.37 billion and the daily trading volumes stand at $12.23 billion. It has been an extremely good week for Ethereum as it has been reaching new heights with its price. On June 25th, Ethereum reached its so far weekly high of $286.14. In the March 12 market crash in which the value of digital assets fell down by 90%. Clearly Ethereum, which is the second-largest Blockchain platform, has done pretty well to recover from the recession. Ever since then it was trading in the $220 to $240 range, until this week.
At the starting of the week, on Wednesday ETH finally broke off the $240 resistance. Coincidentally, BTC also started trading above $9300 after all these months of the boring market. Bitcoin is now trading at $9,888.62 and is up by 2.63% in the last 24 hours. The daily high is $10,023.81 and the 24-hour trade volumes stand at $21.96 billion. To some extent, analysts think that Bitcoin’s rise in its value may have influenced Ethereum’s price spikes in some way. Yesterday, the total market capitalization of all the cryptocurrencies grew over $7 billion, that too in just 24 hours.
In February 2020, ETH Reaches Such Highs
The last time when Ethereum saw such highs was back in February when ETH hit the $285 mark. It is anticipated that if ETH manages to keep above the $285 mark then it is imminent that it will also reach $300 to $315.
Ethereum’s growth can be easily explained by the DeFi protocols and DApps. Ethereum is often considered a one-stop destination for decentralised finance protocols involving borrowing, lending, and peer to peer networks.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?