Ethereum\u2019s price action has been closely tracking that of Bitcoin over the past several days and weeks, which has allowed ETH to climb slightly today as it begins consolidating within the mid-$180 region.<\/p>\n
One prominent analyst is now noting that he anticipates ETH to see an upside break in the near-term, which could lead it surging up to its strongest near-term resistance level that currently exists at $200.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up just under 2% at its current price of $186.90, which marks a decent climb from its daily lows of $182.<\/p>\n ETH\u2019s recent upwards momentum has allowed it to climb significantly from its multi-day lows of under-$180 that were set alongside Bitcoin\u2019s recent drop to $8,300, and it is highly probable that Ethereum\u2019s close correlation to BTC<\/a> will continue in the near-future as bulls attempt to push it past its near-term resistance at $8,700.<\/p>\n Assuming that Ethereum is able to continue climbing higher as the weekend wraps up, it is highly probable that $190 will be its immediate resistance level, as it had been struggling to break above this level for over a week in the time prior to its recent dip to $180.<\/p>\n One factor that may play into ETH\u2019s near-term price action is that its 24-hour trading volume has dived nearly 50% according to data from TokenAnalyst.<\/p>\n \u201c24H #ETH Network Stats: Price: $181.69 (-0.0%). $ETH On-Chain Volume: $170M (-47.5%). Active Senders: 189K (-9.3%). Active Recipients: 81K (-14.1%),\u201d the analytics group noted in a recent tweet.<\/p><\/blockquote>\n \ud83d\udce2 24H #ETH<\/a> Network Stats:<\/p>\n \ud83d\udcb2 Price: $181.69 (-0.0%) Visit https:\/\/t.co\/u90eafzR5J<\/a> for more info<\/p>\n — TokenAnalyst (@thetokenanalyst) November 17, 2019<\/a><\/p><\/blockquote>\n\n
\ud83d\udcb5 $ETH<\/a> On-Chain Volume: $170M (-47.5%)
\ud83d\udc48 Active Senders: 189K (-9.3%)
\ud83d\udc49 Active Recipients: 81K (-14.1%)<\/p>\n