Forex and Crypto News

If ETH overcomes the $302 mark, by the end of the year it will rise to $1,000

09:51 18 June /2019

If ETH overcomes the $302 mark, by the end of the year it will rise to $1,000, such an analyst and trader Benjamin Blunts published this forecast on his Twitter account. He claims that the price chart for the ETH/USD pair contains signals for the repetition of the 2017 rally. The analyst claims that in these conditions, Ethereum has every chance to repeat its success if it breaks up the key resistance level of $302.

The trader believes that the movement of the ETH/USD pair in the spring and summer of this year is very similar to the dynamics of the Ethereum rate in 2017. But it is worth noting that then for the first time Ethereum overcame the $ 100 mark, and today this cryptocurrency is trying to approach the $300 mark.

On June 16, the ETH/USD pair has already tried to break through the $275 level, but without success.

ethusd-18-June.jpg

Benjamin Blunts believes that the $302 mark plays a major psychological role for the bulls. And if this level is overcome, the Ethereum will continue its growth at a higher rate. And not only speculative actions of traders but also the upcoming launch date of the updated Ethereum 2.0 network will contribute to this.

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