Recently, the Crypt market has seen a significant positive movement in most of the prominent cryptocurrencies. With a considerable increase in the price of Bitcoin, Ethereum has also registered a major growth in its price since last week. The second-largest currency after the Bitcoin in terms of volume, gained a quick 10% increase in its price today
While the top 10 cryptocurrencies are in green, Ethereum is expected to gain momentum this week and cross a critical resistance of $200.
The Crypto analysts believe that ETH as broken a significant $175 -$180 zone and the future trend reveals a major boost after passing through this price zone.
Also Read: Bitcoin Halving 2020 & its Impact on Bitcoin Price, Explained
The historical moves show that whenever Ethereum has passed through this key resistance, a rally has followed. In January of this year, the ETH price rises sharply to $290 after breaking this price zone. According to another trader, if ETH sustains the current price zone and manages to break the $200 resistance, it would skyrocket to $290 in the coming months. The recent adoption of ETH for various purpose and positive news about its real case use could also help skyrocket its price.
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