Ethereum price analysis: Some bounce on the horizon; Tom Lee says ETH to touch $1,900

ETH just above the strong support.
ETH to reach $1,900 by end 2019, says Tom Lee.

Manoj B Rawal Independent Analyst

Ethereum, the second largest cryptocurrency by market capitalisation, manages to respect a descending trendline that has been providing it good enough support in the recent past.

ETH/USD has turned up more than one percent on day at $224.50 after falling as much as 3 percent earlier in the day. On the hourly chart of this second largest crypto, ETH has been able to hold on to the support provided by ascending trendline and should be able to provide decent enough bounce from these levels.

Tom Lee, Fundstrat Head of Research, said Ethereum is about to see a “trend reversal and rally strongly” up to $1,900 per token by the end of 2019, as reported by Bloomberg.(Read here)

ETH/USD 60-minute chart:

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Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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