See More

There Are Massive Buy Walls for ETH at $150 (But We Might Not Get There)

2 mins
Updated by Adam James
Join our Trading Community on Telegram
Traders are patiently waiting for $150 ETH, with buy walls building up on most major exchanges. However, this trade may be too optimistic.
According to Black Diamond Research, traders have been lining up along the $150 price point for Ether. Both Bookmap and Coinbase Pro are showing massive buy clusters around this area. The equivalent level for this Ether price point would be Bitcoin around $8500, if we follow this year’s trends. Bitcoin Ethereum

Waiting to Pounce

In truth, however, we may not get to $150 ETH just like we might not hit $8500 BTC. Instead, technical traders are eyeing a BTC price of around $8900-9100, which has been called the ‘ideal buy zone.’ For Ether, this would mean setting buys around $170 or so. We can expect a bounce around the $170 price level, but there is significant support at the $150 mark, which should give investors some confidence. Ethereum has been hit especially hard this year as its price in satoshis drops to levels not seen since early 2017. Many Ethereum fans have decried the recent price movements as being decoupled from the project’s actual developments. However, as the rule goes: The market can stay irrational longer than you can stay solvent.’ For Ethereum believers, this seems to be the case. StormGain

Demand for Ethereum is Still Here

Ether still boasts one of the highest trading volumes out of all cryptocurrencies, however, which shows that demand is still present. Yet, the slow transaction times, full block sizes, and other issues have plagued the network. Decentralization application development has also stalled as many eagerly await the release of Ethereum 2.0. That may take some time, however, and is not expected for launch until at least 2020, maybe even later. For now, it would be smart to simply trade Ether’s bounces and lock profits in Bitcoin which is expected to bode better going into 2020. Do you believe that Ether is a good buy around the $170 price point? Let us know your thoughts in the comments down below.  Buy and trade cryptocurrencies with a 100x multiplier on our partner exchange, StormGain.
Images are courtesy of Twitter, Shutterstock.
Top crypto platforms in the US | April 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

photo_Anton_circle.jpg
Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.
READ FULL BIO
Sponsored
Sponsored