Ethereum has seen some incredibly strong price action over the past several days and weeks, with ETH\u2019s massive 2020 rally coming against the backdrop of immense bullishness within the aggregated cryptocurrency markets.<\/p>\n
Ethereum\u2019s bulls have even been able to maintain its newfound position within the $180, in spite of the drop seen today by Bitcoin and other cryptocurrencies.<\/p>\n
Analysts are now noting that the macro situation for Ethereum is becoming incredibly bullish, and that the rally seen over the past few weeks could mark the start of its journey to fresh all-time highs.<\/p>\n
At the time of writing, Ethereum<\/a> is trading down just over 2% at its current price<\/a> of $180.50, and it is currently trading down from 24-hour highs of just under $186 that were set earlier this week.<\/p>\n It is important to note that the cryptocurrency has been able to bounce from daily lows of $176 that were set in tandem with Bitcoin\u2019s drop to lows of $9,200, and the aggregated market does appear to be entering another consolidation phase.<\/p>\n Analysts are currently eyeing significant short-term upside for the cryptocurrency<\/a>, as Galaxy, a prominent crypto analyst on Twitter, explained in a recent tweet that he is buying ETH at $180, with at $350 short-term sell target.<\/p>\n \u201cBuying $ETH here at $180 and looking to sell at $350,\u201d he explained.<\/p><\/blockquote>\n Buying $ETH<\/a> here at $180 and looking to sell at $350. pic.twitter.com\/4shX2yruVV<\/a><\/p>\n — Galaxy (@galaxyBTC) January 31, 2020<\/a><\/p><\/blockquote>\n\n