{"id":387080,"date":"2019-06-22T00:30:16","date_gmt":"2019-06-22T00:30:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=387080"},"modified":"2019-06-21T23:47:05","modified_gmt":"2019-06-21T23:47:05","slug":"ethereum-adds-two-billion-to-market-cap-as-buying-pressure-flourishes-factors-trends","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-adds-two-billion-to-market-cap-as-buying-pressure-flourishes-factors-trends\/","title":{"rendered":"Ethereum Adds Two Billion to Market Cap as Buying Pressure Flourishes; Factors & Trends"},"content":{"rendered":"

Ethereum has benefited greatly from the recent crypto market surge that has led Bitcoin towards the critical $10,000 price level, and ETH is now holding above a key support level that will likely allow it to continue surging into the $300 price region in the near future.<\/p>\n

Although further gains are certainly plausible, analysts are noting that it is important for ETH to hold above $281 as it continues testing resistance at $289, or else its upwards momentum could be in jeopardy.<\/p>\n

Ethereum Surges as Widespread Crypto Market Conditions Improve<\/strong><\/h2>\n

At the time of writing, Ethereum<\/a> is trading up over 8% at its current price<\/a> of just below $290 and is up significantly from its daily lows of $267 that were set yesterday.<\/p>\n

Over the past 30 days, ETH has experienced a bout of consolidation that led it to range between roughly $230 and $280, but this range was broken during the past 24 hours when the cryptocurrency garnered significant buying pressure that sent its price running up towards its current levels.<\/p>\n

Importantly, it does seem as though $290 is a level of resistance for Ethereum, which may mean that it will fail to break above this price level in the near-future unless its bulls continue to ramp up the buying pressure in the near-future.<\/p>\n

The Cryptomist, a popular cryptocurrency analyst on Twitter, noted in a recent tweet that it is important for Ethereum to hold steady above $281 as it continues to push against resistance at $289.<\/p>\n

\u201c$ETH finally has broken this channel resistance it was in! Daily needs to close above 281 as we test 289 resistance. If we break this resistance, we should reach $300 for the first time in 10 months,\u201d she explained.<\/p><\/blockquote>\n

\n

$Eth<\/a> <\/p>\n

finally has broken this channel resistance it was in!
Daily needs to close above 281 as we test 289 resistance<\/p>\n

If we break this resistance, we should reach $300 for the first time in 10 months!
\ud83d\ude0ahttps:\/\/t.co\/wERjHtp83I<\/a> pic.twitter.com\/KFRgvmtOJq<\/a><\/p>\n

— The Cryptomist (@Thecryptomist) June 21, 2019<\/a><\/p><\/blockquote>\n