Jan 23, 2020 at 14:18
Ethereum Holds Recent Gains as Bulls and Bears Struggle above $160
On January 19, the bull’s inability to break above the $180 resistance level compelled Ethereum to a range-bound movement. Ether is on a tight range between $160 and $170. Incidentally, the continual ranging will lead to a price breakout or breakdown. Now if the price breaks the $170 resistance level and the bulls are successful, the coin will reach a high of $200.
Jan 21, 2020 at 13:45
Ethereum Turns Down Sharply Amidst Aggressive Selling
On January 19, Ethereum fell to a low above $160 because of its inability to break above the $180 resistance level. Despite its disappointing fall after its resistance, a break above $180 will catapult ETH to reach a high of $197 or $200.
Ethereum Trending Towards Massive Growth in 2020
Current market events are strongly indicating that the ethereum network will see massive growth this year. According to a recent report, the active number of users on the ethereum network doubled in period of just five months. Speculators claim that cryptocurrency could gain mainstream usage this year.
Ethereum in a Decisive Move, Attempts a Rally above $200
Interestingly, Ethereum has made a positive impact and pushed into the earlier price range.
About two days ago, the bulls couldn’t break above the resistance at $160. The price has successfully breached the resistance as the coin reached a high of $172. Ether is approaching the overhead resistance at $173.
Ethereum Upside Momentum Is Picking, but Sellers Are Unrelenting
Expectantly, the bulls have rallied above $148 and $157 to reach $170. However, the bulls fail to maintain the price at the resistance zone because of insufficient buyers at the upper price level. Initially, the price rally was into the previous price range of $160 and $200.
Ethereum Springs Upward but Stuck at $148
Ethereum rose to a high of $148, after a successful defense of the $136 low. The coin now fluctuates between the $142 low and $148 for the past three days. This is in view of the two unsuccessful attempts at $148. The fluctuations will bring the price movement to stand still. Meanwhile, Ethereum has the tendency to rise because the price is above the EMAs.
Ethereum Defends $136 Low, an Option to Break the Downtrend
Notwithstanding the brief upward move and subsequent fall, the bulls defended the low at $136. The price moves up to $143 after a successful defense of the support. Luckily, Ether is in the bullish trend zone. The upward movement will likely continue to the recent highs. Assuming, the bulls sustained the price above EMAs, then we should expect the market to reach a high of $157.