ETH hits $160, after a +11% gainer in the last 24 hours

[coingecko]

Ethereum is on a roll today with a +11% gainer in the last 24 hours hitting $160.

This is the strongest run ever since the massive correction we saw last few weeks as global pandemic and oil price war pushes down all crypto prices.



Is this sustainable or a trap?

[cabron]

I'm hoping this will be the start of the continuous rise of cryptocurrencies though. 11% is too much for a day but as long as the market is gaining popularity to investors, I guess it will go up after another drop.

Creating a thread like this every time there is a spike of price have been done before. Didn't you just inserted a link to your coingecko ETH page? 

[dunfida]

I'm hoping this will be the start of the continuous rise of cryptocurrencies though. 11% is too much for a day but as long as the market is gaining popularity to investors, I guess it will go up after another drop.

Creating a thread like this every time there is a spike of price have been done before. Didn't you just inserted a link to your coingecko ETH page? 

Expect for these kind of threads from time to time because people do make post towards it when they do saw some significant price changes in the market specially if the said token is part of their holding.

11% a day growth is nothing new and somewhat common here on crypto.Talking about if it would continue or not? this is the question that cant be answered specially on a very unpredictable market.

Not only ETH is on green now. We do even have 300%+ in last 24 hours. https://coinmarketcap.com/gainers-losers/ 

[TheAndy500]

For the first time, the ETH price broke away from the BTC price. I think this is a good start for alt seazon.
The bear market for altcoins lasted for over two years, I think this is the best moment to show the world that this is not the end of altcoins, but it is the end of classic money!

[tabas]

Just weigh the situation. I'm aware that Bitcoin is also the reason why ETH moved synchronize with its prices. Trap, it can be but it can also be not.
As always, the manner of this market is unpredictable.

[samcrypto]

You have to be more wiser now, observe the market well and know if the market is recovering or it just a short pump, no one can say that this pump is just a trap surely. ETH is the top altcoins, it proves to us that it can also recover after the dump, if bitcoin continues to go up then you can consider this one as a real pump.

[GreatArkansas]

It's also because of Bitcoin. If Bitcoin didn't reach above $7,000, I don't think Ethereun gained almost 10% which is much higher on daily percentage change if we compare it with Bitcoin.
But still, for me, Ethereum is being an Ethereum which I got lucky since some of my Bitcoins were converted to Ethereum last month.

[coingecko]

It's also because of Bitcoin. If Bitcoin didn't reach above $7,000, I don't think Ethereun gained almost 10% which is much higher on daily percentage change if we compare it with Bitcoin.
But still, for me, Ethereum is being an Ethereum which I got lucky since some of my Bitcoins were converted to Ethereum last month.

Right, bitcoin is still the leading indicator of the market. The others are more volatile thus swing in larger magnitude

[t3m4nc0k]

I just hope that bitcoin will always be able to maintain its price so that ethereum can too, but if bitcoin has decreased in price then this will be a trap and scourge for ethereum holders

[Hippocrypto]

Ethereum is on a roll today with a +11% gainer in the last 24 hours hitting $160.

This is the strongest run ever since the massive correction we saw last few weeks as global pandemic and oil price war pushes down all crypto prices.



Is this sustainable or a trap?

I don't see it having any possibility of a trap, and as the pandemic has now starting to supress these days I believed this progress is a great way to cope up the previous fall down. However, we should be more vigilant until the perfect recovery will soon correct every minutes price outbreak.

[btc78]

Ethereum is on a roll today with a +11% gainer in the last 24 hours hitting $160.

It reached +15% now mate and this seems to be interesting week starter.

This is the strongest run ever since the massive correction we saw last few weeks as global pandemic and oil price war pushes down all crypto prices.

yes it is and many are surely waiting to sell off at any minute now to prevent from falling again.

Is this sustainable or a trap?

possibilities are Both can happen,but i think it is more on sustainable because correction has been ended and now the Run is on the way.

[leea-1334]

Not sustainable so fast, I would say,,, UNLESS it is followed by another 30% in the next week to push it above $200, and then recover even more to gain $240, which is where it last was before the crash, by the point of bitcoin halving. Very possible, I would say, in this scenario, to see even $300 but everything relies on BTC.

[yohananaomi]

Ethereum is on a roll today with a +11% gainer in the last 24 hours hitting $160.

This is the strongest run ever since the massive correction we saw last few weeks as global pandemic and oil price war pushes down all crypto prices.



Is this sustainable or a trap?

I don't see it having any possibility of a trap, and as the pandemic has now starting to supress these days I believed this progress is a great way to cope up the previous fall down. However, we should be more vigilant until the perfect recovery will soon correct every minutes price outbreak.

something that should also be thankful for in an epedemic corona and the economy is not good, ethereum gets up and continues to walk to the best place. today starts with $ 162 and touches $ 172, but unfortunately falls back to $ 170. hopefully this is not a bad sign for ethereum. I agree with you we still need to be vigilant until a more perfect recovery, and hope bitcoin will stimulate to encourage the increase so that it also affects ethereum.

[Dr.Osh]

not only ethereum, I think this is due to an increase in the price of bitcoins to the level of $ 7k. besides, this is very good news for owners of bitcoin and ethereum. however, recovery continues to this day. this might be due to the halving day coming soon, and also ethereum 2.0.

[Questat]

Thank to bitcoin, it rises so we are seeing now that ETH has followed, actually there is no special with ETH and this is just a normal pump after being dump due to the panic of the pandemic. Bitcoin seems to be doing great right now, the uptrend continues and altcoins will surely follow.

Fact, not only ETH rise today.

top gainers here from top 100 (including ETH) - soure cmc

[maydna]

I hope that soon ethereum can break $200 so I can sell more ethereum and get the profit. While ethereum increase now, the other coins are increasing too because bitcoin price already increases since yesterday, and I am happy to see bitcoin finally can be at more than $7,000 position. If bitcoin can get more support, then we will go to see the price break $7,500, and the chance to break $8,000 will be wide. But still, I feel afraid to buy some bitcoin or ethereum right now because I guess that the timing is not right to buy and now, it is the right time to place an order sell at the market. I think there is a chance to make a fast buy and sell at this moment.

[jrrsparkles]

Nearly 10% growth all over the market in the past 24 hours which is really great at pandemic situation like this and will help more people to realize why they should move towards decentralized assets to survive at any market conditions.

[Sanitough]

And it continues to rise... this is such a great day for the crpypto market, finally we see some significant gains after weeks of the market being quite.
Thanks to bitcoin being bullish as well since it's always bitcoin is the initiator of the market and altcoins will just follow.

[Febo]

This is the strongest run ever since the massive correction we saw last few weeks as global pandemic and oil price war pushes down all crypto prices.

Back then global pandemic and oil price war pushed crypto prices down, now they push it up. Price of oil increased 30% few days ago. Dow ones increased over 20% in last two weeks. What pushes crypto prices down also pushes them up.

[Cnut237]

Ethereum is on a roll today with a +11% gainer in the last 24 hours hitting $160.

All of crypto dropped substantially. The most relevant thing here for me is that ETH is outperforming BTC at the moment. A sign of things to come with alts leading the recovery? Perhaps.

Is this sustainable or a trap?

+11% a day isn't sustainable. 11% in one day then plateauing is sustainable.
I don't think it's a trap, ETH has been under-priced for a long time. The markets dropped too far I think in the CV-19 panic, it's natural that we have sudden mini-recoveries like this. It's welcome, but I don't think hugely important given the context of those recent big drops.