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

[rodskee]

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?

This is now pricing $170 and still holding to that,if this is sustainable or a Trap?no one know but it seems that the price comes from the Green of Bitcoin so maybe lets wait for Bitcoin price to declare if this will Last and continues of fall just in another day.But i am contented in this value because every week the price is growing so maybe little amount will do per week than dumping again.

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[posi]

I don't think this is a bull trap, the price of ETH and Bitcoin are growing slowly. And that is the recovery of this market, hopefully from now until the halving of bitcoin begins we can see ETH go up above $ 200 and bitcoin can reach $ 8000-9000 again. That would definitely be a great start

We don't know if that is a bull trap or not because of ethereum and bitcoin growing, and we see that ethereum and bitcoin already down in this month and it happens many times. But I am sure that the recovery is still on the process and we are waiting for that time, so you need to make sure you are ready for the bull run. Ethereum will pass above $200 and bitcoin will do the same thing, and bitcoin will make another ATH soon. We should prepare for the next week because we don't know what will happen with bitcoin and ethereum.

Talking about if it bulltrap of not. I believe it is if we judge by the historical data of ETH and some others utility altcoin they usually follow the momentum posed by bitcoin and if you check bitcoin trend at the time of posting this message it currently in experiencing dump in price. Therefore, it a bulltrap played by arbitrage traders.

[STT]

The bigger moves are in the tail end of a move is my theory because we see the end result of prior momentum and it reaches a crescendo.    But I would judge this remaining bullish still so long as price remains over 0.022 or so because that is the momentum from the prior week and in this case the month before due to the losses its fair to pull back then rise from that point still.
   If I check 50 day moving average it matches that as a cap to present prices, its a light pullback then as an indicator has an effect in perception but not longer term imo.   Target upside is about 0.026 vs BTC

[sandos]

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.

I thought we already established the fact that digital assets are not safe haven investments? While I'm impressed with Ethereum's growth this past week (went from $130 to $171), we shouldn't forget in a hurry that the price took a nose-dive in February. With the pandemic crisis still yet to be resolved, it's best to apply caution. There's no telling what direction the market is heading to next.

I am very cautious for the time being but still believe that ETH is a good investment as the coin has had a huge improvement over the past week and the market is showing better signs of growth. Of course, there are still many risks when choosing to invest but I believe that when the coronavirus ends, life will return to normal and the crypto market will continue to return to the best price period.

[BlackFor3st]

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?

It was able to sustain as it is currently sitting at 162$ as of this moment but we are not yet 100% sure that the increase will continue to push forward as the market is very vulnerable. Though looking in the graph, it is currently pointing upward so let's assume that this increase will continue until the halving of bitcoin will occur.

Trap is always a possibility in the market also so we should also consider any possibilities as we don't have a control over the market unlike the big investors in which they can easily move the market as they like.

[Farma]

Must see price correction soon because it was unhelthy fast growth without any reasons. Beta ETH 2.0 is not a reason because it's too far from mannet.

I guess if that caused by the bitcoin as bitcoin was also getting a few percents to increase at that time. That means if the pump that happened for ethereum was caused by the bitcoin. I see no reason to the ethereum to get a pump caused by there was no a good news that related to the ethereum that can bring FOMO to the buyers.

at this time there has not been such a good development regarding ethereum other than because it is supported by bitcoin. currently, the price is approaching the range of $ 150 because it is caused by a decrease in the price of bitcoin which again touched the price of $ 6k. however, with this, I think recovery still gets some problems.

[Natalim]

at this time there has not been such a good development regarding ethereum other than because it is supported by bitcoin.

Agree with that, no hype for the eth 2.0 yet and maybe the team is not sure if they will release it this year.

currently, the price is approaching the range of $ 150 because it is caused by a decrease in the price of bitcoin which again touched the price of $ 6k. however, with this, I think recovery still gets some problems.

Which market you are looking? Currently, I am seeing that ETH is already price over $150, and that is when it dump a bit.

[sandos]

I don't think this is a bull trap, the price of ETH and Bitcoin are growing slowly. And that is the recovery of this market, hopefully from now until the halving of bitcoin begins we can see ETH go up above $ 200 and bitcoin can reach $ 8000-9000 again. That would definitely be a great start

All coins that now depend on Bitcoin and altcoins can no longer increase as they used to, so it is difficult to predict. In fact, I predicted this situation because ETH dropped very quickly last week and had a strong rebound in the last few days. Of course, this coin will soon return to the downtrend and that's why you should wait more instead of investing now.

[Rosilito]

From the day you posted it till now market move up a bit than $160 in the last 3 days then dump a little in this day. It looks to me that would be going stable here between $150 and $160. But as what majority said, such movement was influenced by Bitcoin itself, well I agree as there are no significant news related to ETH alone on why did it move like that. So may be for now, as long as BTC pump rest assured that ETH or let's say several altcoins would do the same.

[ballerin and giroud]

There will be a correction and a day ago that was a correction. The coin price will nevee increase continously because there will be a trader and make a strong support in the resistence. And now as we can see the price of ethereum is increasing again and I can say that the price will up more then last day if the sentiment market is still good. I realize that the movement price of cryptocurrency is different with the stock market movement price. The stock market will increase slowly but it just have a small chance for the price decrease but we will not it in cryptocurrency market.

[xandriel]

From the day you posted it till now market move up a bit than $160 in the last 3 days then dump a little in this day. It looks to me that would be going stable here between $150 and $160. But as what majority said, such movement was influenced by Bitcoin itself, well I agree as there are no significant news related to ETH alone on why did it move like that. So may be for now, as long as BTC pump rest assured that ETH or let's say several altcoins would do the same.

Now it's hard to talk about the future of ETH because the coin is very volatile and just a bad news can make things worse. Any prediction just stops at the prediction and investors tend to hold more fiat during this time. Of course, $150 -160$ is only a temporary price and certainly this coin will drop more if the market does not have a big improvement.

[Russlenat]

From the day you posted it till now market move up a bit than $160 in the last 3 days then dump a little in this day. It looks to me that would be going stable here between $150 and $160. But as what majority said, such movement was influenced by Bitcoin itself, well I agree as there are no significant news related to ETH alone on why did it move like that. So may be for now, as long as BTC pump rest assured that ETH or let's say several altcoins would do the same.

Now it's hard to talk about the future of ETH because the coin is very volatile and just a bad news can make things worse. Any prediction just stops at the prediction and investors tend to hold more fiat during this time. Of course, $150 -160$ is only a temporary price and certainly this coin will drop more if the market does not have a big improvement.

It's really temporary, even if the price will rise it's still temporary.
The thing is, bitcoin is volatile, we can't tell if the price will just go stable uptrend because anytime it could dump even without known reasons.

maybe this would only depend on our target now or prediction, mine is over $1000 and I'm hoping to see it but only possible with altcoins season.

[rose9696]

From the day you posted it till now market move up a bit than $160 in the last 3 days then dump a little in this day. It looks to me that would be going stable here between $150 and $160. But as what majority said, such movement was influenced by Bitcoin itself, well I agree as there are no significant news related to ETH alone on why did it move like that. So may be for now, as long as BTC pump rest assured that ETH or let's say several altcoins would do the same.

Now it's hard to talk about the future of ETH because the coin is very volatile and just a bad news can make things worse. Any prediction just stops at the prediction and investors tend to hold more fiat during this time. Of course, $150 -160$ is only a temporary price and certainly this coin will drop more if the market does not have a big improvement.

It's really temporary, even if the price will rise it's still temporary.
The thing is, bitcoin is volatile, we can't tell if the price will just go stable uptrend because anytime it could dump even without known reasons.

maybe this would only depend on our target now or prediction, mine is over $1000 and I'm hoping to see it but only possible with altcoins season.

$ 1,000 is a greedy number. I appreciate your carefulness in ETH pricing and always have a calm mentality, but I'm afraid your price prediction is too high. For an economy hit hard by covid, people are now holding more cash and preparing for a major recession. The rebound is only due to the fomo sharks and makes its price temporarily increase. The manipulation is increasingly intense and with a small amount of capital the whales can already manipulate the market, be careful at this time. Be patient and wait for a better price to buy and hold.

[Jating]

^^ Nah, I don't think that $1000 at this point, Here is another bullish prediction on Ethereum by Galaxy



https://twitter.com/galaxyBTC/status/1248964805249118208

I think this is more realistic, we have been seeing Ethereum trading at this range prior to the downfall of crypto because of the Covid-19 pandemic. So let's  see if we can see the price goes on that level after weeks of trading sideways.

[btc_angela]

^^ Nah, I don't think that $1000 at this point, Here is another bullish prediction on Ethereum by Galaxy

https://twitter.com/galaxyBTC/status/1248964805249118208

I think this is more realistic, we have been seeing Ethereum trading at this range prior to the downfall of crypto because of the Covid-19 pandemic. So let's  see if we can see the price goes on that level after weeks of trading sideways.

Galaxy has always been very bullish obviously.

Anyway, yes there is a big possibility that $250 can be hit again specially if we are going to be bullish in the next coming months. I firmly believed that if after the BTC halving that we see some good run of BTC, ETH will follow suit as well pushing to the $200-$300, so everyone should stay tune and continue to accumulate at this point and take advantage of the current entry price.

[Westinhome]

That was good news for ETH right now that would take to $160 and we hope it will still continue and reach to $200.
I know ETH can reach on that price because etherium one of the trusted in the market and a top 2 in crypto curency so no doubt about ETH can reach on that price. Before the ETH reach on a price like that it will need for bitcoin first to grow up the price so that's why ETH can be followed and also some altcoins.

[CaVO32]

That was good news for ETH right now that would take to $160 and we hope it will still continue and reach to $200.
I know ETH can reach on that price because etherium one of the trusted in the market and a top 2 in crypto curency so no doubt about ETH can reach on that price. Before the ETH reach on a price like that it will need for bitcoin first to grow up the price so that's why ETH can be followed and also some altcoins.

One of the reasons why we need to closely follow the trend of bitcoin, because most alts or cryptocurrencies are just following the trend of bitcoin. Just look at the overview trading performance in coindesk. They are following the movement of bitcoin. And eth is not excluded from that. Though eth has solid platform, yet, it also follows the bitcoin trend.

[Thomas-s]

Well, now you can see that the price of Ethereum is completely dependent on bitcoin. I think that you do not need to spend energy and try to understand how the price of Ethereum will work. just watch bitcoin charts. Now this is the main tool that you need to watch

[mahilchii]

As everyone know ETH price is dependent on BTC price without any doubt because these days ETH value goes up only if BTC performs similarly the same happens if the price drops, this isn't a good sign for a popular coin I agree the market is very volatile now but this pump and dump should be filtered on their own strength. Well that's how a coin should react when depending upon the situation of crypto market.

[TheAndy500]

As everyone know ETH price is dependent on BTC price without any doubt because these days ETH value goes up only if BTC performs similarly the same happens if the price drops, this isn't a good sign for a popular coin I agree the market is very volatile now but this pump and dump should be filtered on their own strength. Well that's how a coin should react when depending upon the situation of crypto market.

This is nothing new. The prices of all altcoins depend on the BTC price and the same applies to ETH. In 2017, the prices of many coins behaved differently and often regardless of what happened with the BTC price, but from the beginning of the bear market, BTC shows the way to all other cryptocurrencies. In my opinion, however, ETH has a chance to break away from the Bitcoin rate, but it is not known when this may happen. I hope it will be possible this year.