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This strong move above marks the end of a massive downturn in Ethereum for its US dollar / bitcoin pair. And analysts say this price hike could soon be over.
Ethereum price increase between base ball
For the first time during the Blue Moon, little minds can be seen on Ethereum.
Cryptocurrency has had an excellent showing for most of 2018, falling from its all-time high of $ 1,400 to double-digits, which is almost 95% of the total. At the same time, the ETH / BTC pair fell below the ICO bubble, indicating that there was little demand for the project.
But in recent weeks it has changed. After a low of $ 170 and about 0.016 BTC, Ethereum started trading for both couples.
Traders say the move is likely to create preconditions for future profits. Grant recently stated that if ETH consolidation is above $ 200, which is a significant support line for the past year, $ 250-300 may be entirely offset.