RATE Group | Ethereum Gearing For Another Lift-Off to $250: Rally Isn’t Over Yet
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Ethereum Gearing For Another Lift-Off to $250: Rally Isn’t Over Yet

03 May Ethereum Gearing For Another Lift-Off to $250: Rally Isn’t Over Yet

Posted at 08:54h in Bitcoin News by

Ethereum is following a strong bullish path above the $200 support against the US Dollar, similar to bitcoin. ETH price is likely to continue higher towards the $240 and $250 levels.

  • ETH price corrected lower from the $227 high, but found support near $202 against the US Dollar.
  • It is currently rising and trading with a positive angle above the $212 level.
  • There is a crucial bullish trend line forming with support near $212 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to accelerate higher towards the $240 and $250 levels in the near term.

Ethereum Price is in Bullish Zone

This past week, Ethereum surged above the $200 pivot area against the US Dollar. ETH price gained bullish momentum above the $210 and $220 levels to move into a strong uptrend.

There was a proper close above the $200 pivot level and the 100 simple moving average (4-hours). The price traded to a new monthly high near $227 before starting a downside correction.

Ethereum corrected sharply lower…

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