Bitcoin turned the screw on $5,300 today and notched a new 2019 all-time high at $5,352 on Coinbase. The ETH-USD pairing followed suit and the top altcoin now looks ready to have a go at $200.
Ethereum Price Analysis: Market Review
Earlier in the week, Ethereum price 00 marched through the $155 resistance and on over the weekend the altcoin tackled the resistance level at $165. Once above $165 it has been literally blue sky breakout for ETH and the altcoin now trades at $185. The next levels to break are $200 and $225.
Investor sentiment for Ethereum has also received a boost and over the weekend and a number of analysts suggested that the ETH-USD pairing was growing increasingly bullish and many called for a run to $190 to $200.
Ethereum Classic (ETC) 00 also pumped hard in the earlier hours of Sunday, March 7. The general theory of a rising tide lifting all ships could also be helping to lift ETH price as the overall cryptocurrency market benefits from Bitcoin’s recent trend reversal.