The new week has started on a good note as crypto prices go green. However, among the top cryptocurrencies, Ethereum is rocking the highest gains of overall 12 percent.

At the time of writing, the second largest cryptocurrency has been trading at $138.24 with 24-hours gains of 11.40 percent. In the BTC market as well it is up by over 7 percent. If you take a look at Ether’s one-day price chart, it has been on an upward incline, going from $123 to $138.

Ethereum 24-hours price chart, Source: Coinmarketcap

With ETH reward reduction coming in just about 2 weeks, looks like this time Ethereum bulls have finally started a short-term rally for the crypto market.

As Ethereum prices spike upwards, Crypto analysts and traders are expecting even more green with a major shift coming its way.

According to Crypto trader Hsaka the Ethereum price chart is in a very bullish territory right now while expecting the prices to go above $145 as he says, “Take a breath before FOMO gets to you. Chart looks pretty darn bullish. That doesn’t mean blindly long at resistance, wait for a pullback and long that instead. Or wait for it to start consolidating under resistance.”

ETH/BTC pushing over the 200 day moving average for the first time in months. Also a 50/200 cross seems imminent. Major shift potential. pic.twitter.com/YzbowSw9ju

— Ledger Status (@ledgerstatus) February 17, 2019

Meanwhile, one crypto trader is far more bullish on Ethereum as DonAlt shares his sentiments towards this digital asset, “I’ve heard Etherum will one day be the global computer that does smart contractions so I rebought me a few at 121. Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin. That’s a steal right there.”

I’m incredibly bullish on $ETH for the next few weeks.
I’d get a cardboard Vitalk cutout if I could just so I have it by my side 24/7.

No matter what BTC does ETH will outperform the market in my mind.
I’ll use dips as giant buying opportunities.

— DonAlt (@CryptoDonAlt) February 17, 2019

While it is expected that Bitcoin could see a breakout as well, Ethereum is already nearing $140 and is poised for more gains. Having recently taken over the 2nd position from XRP, Ethereum is all set to make the most of its upcoming event on February 27.

$ETH

ETH gave some good opportunities this morning with a quick move up.
Raided the highs and is now retracing.
Depending on today’s daily close I’ll be targeting the $115 area for ETH.
That’d probably bring back all the bears that got stopped / liq’d on the move up. pic.twitter.com/n1x9weymSf

— DonAlt (@CryptoDonAlt) February 17, 2019

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Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12%

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The new week has started on a good note as crypto prices go green. However, among the top cryptocurrencies, Ethereum is rocking the highest gains of overall 12 percent.

Anjali Tyagi

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.