Ethereum Bulls at Work: New Target for ETH $ 440


Edward Moya, senior market analyst at New York-based Oanda Corp., told mainstream media that the price of Ethereum (ETH) could go up to $ 440.

Speaking to Bloomberg on February 14, the senior market analyst also found a warning that the greatest appreciation of the biggest altcoin in 2020 gave an imbalanced image. Moya said that despite this half, the rise in the cryptocurrency will continue.

According to the GTI Global Strength Indicator, which measures the upward and downward movement of consecutive closing prices, Ethereum is in the region of the most buying since May 2019. If the indicator exceeds 70, the asset is considered to be in the overbought territory, and the level on the indicator has risen to 92.7 this week for Ether.

Edward Moya draws attention to Ethereum’s rally, saying that crypto money will continue to rise. The analyst also made a price estimate and stated that ETH could rise above the record level seen in 2018 and reach a level of $ 400-440, and pointed out that the upward trend in this level is related to the continuation of the uptrend.

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