- ETH/USD moves within a bullish trend.
- Further recovery may take the coin towards $200.00.
Ethereum is poised for a recovery towards $148.00, crypto expert know as The Crypto Dog believes. This development will set the stage for and strong upside momentum with the next aim at $200.
Positive altcoins’ momentum creates favorable conditions for Ether, however, Ether’s ability to reach psychological $200 depends on overall market sentiments.
Ethereum’s technical picture
Ethereum touched $147.00 on weekend, only to retrace to $143.30 by the time of writing. The coin has made progress in recent 7 days gaining nearly 3% of its value, however, further upside may be limited to due to strong selling interest clustered on approach to $148.00 handle. It is followed by $150.00 and $154.00 (DMA200).
On the downside, the initial support is created by $140.00. Once below, the sell-off may be extended towards congestion zone $138.00-$136.00 strengthened by DMA50 and the middle line of daily Bollinger Band.