Analysts Agree That Ethereum May Soon Visit $200 as Selling Pressure

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Ethereum and the entire crypto markets have descended downwards over the past several days, primarily due to the fact that Bitcoin has been unable to advance past the upper-$8,000 region, which has sparked a widespread sell-off that has had a fairly significant impact on most altcoins, including ETH.

Now, analysts believe that Ethereum’s current selling pressure could continue to perpetuate, which may lead it to extend its losses to as low as $200 in the near future.

Ethereum (ETH) Faces Increasing Selling Pressure as Crypto Markets Plunge

At the time of writing, Ethereum is trading down over 5% at its current price of $234, down significantly from its daily highs of nearly $250.

Ethereum has been slowly grinding lower over the past week, as it has fallen from weekly highs of over $270 and is currently trading at weekly lows.

Importantly, ETH is currently trading up significantly from its one-month lows of $167, which were set roughly four weeks ago. When considering this, it is clear that the cryptocurrency is still in an uptrend over a longer time frame, despite its recent instability.

Although the uptrend may still be intact, it is important to note that where Ethereum heads next will likely be determined by Bitcoin’s near-term price action, which is, likewise, also looking somewhat bearish.

As for where Ethereum may land before the selling pressure lets up, one analyst believes it is heading for $200.

 

Mohit Sorout @singhsoro

$ETH is going to $200 and only a miracle can save it.

 

sorout is not alone in his assessment that Ethereum may drop significantly further in the near future, as other analysts are currently expressing similarly bearish assessments

DonAlt, another popular cryptocurrency analyst on Twitter, noted in a recent tweet that he believes ETH could continue dropping until it finds support around its weekly support level that exists between $190 and $200.

hopefully eth will recover again   please give your views on this current topic below hope you all find it worth reading

[Shaniqua]

time is the only one who can know at the end of the day in things like this hehe, no way to know really.

[barbaris]

Analysts can specifically make such predictions in order to artificially lower the price and convince people to start selling. I do not believe in it, they do it in personal interests.

[Shaniqua]

ok ok    i    will    actually    say    this    in    this    case.......    if    btc    goes    to    the    moon    then    so    will    eth    :    )    as    it    is    all    btc    dependent

[polor12]

eth is the coin staying at a constant lvl.,not going up or down... to me eth is the coin to start looking at.. im already investing towards eth. holding on to it.. because it will past bch this year that is for sure. it will have that sudden spike,.. its a sleeper but when it wakes up,.. is going to be blast.. just watch everyone.. eth will be a surprise after the summer.. the demand will increase the value will increase.. and the popularity will sure follow., that and dogecoins.. 

[DreamStage]

Ethereum (ETH) will surely make his way back to the toppest price seen as for every other currency, market tends to fix himself on a regular basis and thats the main reason why we see such prices drop. With the new technologies and payment systems that are poping in real life i do believe it will reach those $200 soon enough.

It is just a matter of trust and patient and wait for new investors and even old ones to return back to bull runs.

[williamshennie9]

I certainly hope so! I am super passionate about ETH, and have put a decent amount of money into it, hoping that it will go back over $1000. I am comfortable at the current price level though. My investment is in profit, so I can only hope it goes up even more

[Mahdirakib87]

I think so it may drop in it's value. Though not sure. Depends on investor choice and mind. On the other hand ltc got much up in resent months. But after that it's price doesn't drop down. Still climbing up. So maybe eth going to hang up there too with pump.

[Kate]

Well bitcoin has been rising to the moon so why not ? Yeah i do believe so that ethereum and bitcoin will reach their peak prices and be stabilized there for a while.

[poloalto]

ethereum will go up in tandem with bitcoin, so that when bitcoin starts to rise it is appropriate to buy etherum then hold and sell at high prices.

[Kate]

7 minutes ago, poloalto said:

 it is appropriate to buy etherum 

Well if bitcoin is going to rise dont you think that it is better to buy Bitcoin rather than Ethereum ? Because you can get a better margin of profit than what youll get for ethereum.

[cointikka]

Bitcoin should be your coin to invest. Avoid all other Altcoins for now. There is a big chance all alt's will get rekkt very shortly. As the price of Bitcoin rise all other coin bleed. This always happens.

[Danifilth]

Regarding the release of the air 2.0, I heard that it is coming out in January 2020 and this version will be mega fast for 100kk transactions per second all the garbage, I don’t understand, and the price will change the name, as everything is dull!

By the way, who does not know about the news that the finance exchange launched a decentralized counterpart and transfers all assets from the ethereum blockchain to its own binancechain. In this case, the leading becomes its BNB token, which will be the main one in the centralized and decentralized version of the exchange! I mean, it may be worth thinking about investing in this coin, as she would have recommended herself!

[Vusal]

Сейчас ейфериум стоит 170$. Дальше как будет? Будем ждать? У кого многого терпения, тот будет в плюсе. 

[Ali saher]

I think mostly eth price depends on bitcoin if bitcoin price go up then automatically eth price up and if bitcoin go down eth price go down,

But I think this year not but next year eth price go up 200 USD maybe this price go to 500 USD