Analysts now believe that Ethereum may be mustering up more buying pressure that will allow it to surge towards $200 in the near-future.
Hsaka, a popular cryptocurrency analyst on Twitter, shared his thoughts on Ethereum's current price action, explaining that its strong reaction to an incredibly brief drip below $160 is bullish, but further adding that ETH still faces resistance at approximately $169.
The Crypto Monk, another popular cryptocurrency analyst on Twitter, spoke about this possibility in a recent tweet, explaining that Ethereum's current pullback appears to be over, and that it may surge to $200 next. "$151 is the maximum I could see for this pullback. Next leg up, $ETH will retest $200," he explained, further adding that the "pullback seems over."
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