In this post I will tell you about some projections on the price of Ethereum (ETH) in the short term. At the time of writing, an Ether can be bought for US $ 229, according to the SimpleFX broker.
Ethereum’s market capitalization remains stable at around 25 trillion, with a current of 111.3 million tokens.
One of the most relevant Ethereum macro news of the past few hours is open interest in Ether options in the leading Derebit market, which has continued to rise to unprecedented levels. The number of active Ethereum contracts increased 315% to $ 158 million.
Ethereum Price: XTB Review
The second largest and best known cryptocurrency, Ethereum, has been trading in an uptrend since March 13. The coin failed to break the resistance at $ 250, but the main trend continues to rise.
The price bounced off the key support zone ($ 215) this week, confirming that buyers are in control. The aforementioned support area at $ 215 is marked with previous price reactions and its SMA45.
Note that the price respected this average throughout the recent upward momentum. As long as the green marked area remains firm, Ethereum can continue to rise.
The great resistance to beat: US $ 250
In the short term, the great resistance to beat lies at US $ 250, which was traversed for a few hours at the beginning of the month. Then the price of ETH has quoted around the current 229.
As long as the Ethereum price remains above the psychological support of $ 200, it should stay a buyer on ETH.
Ethereum sentiment in the short term is strongly buying according to the trend offered by the Plus500 broker in real time. At the time of writing, 92% remain bullish, while 8% seller.
The information in this content has been extracted from reliable sources detailed below:
1- Own writing of the author of the content.
2- External source: Broker XTB, SimpleFX