Throughout the past month, the price of Ethereum (ETH) increased from $126 to $140, by more than 11 percent against the U.S. dollar.
Ethereum has recovered fairly well in the past month, recording a solid 11 percent gain (source: coinmarketcap.com)
Similar to how several strategists expect the bitcoin price to increase substantially if it breaks the $4,200 resistance level in the near-term, traders foresee Ethereum rising to as high as $200 if it rebounds over crucial levels.
$148 For Ethereum is Key
According to a cryptocurrency technical trader recognized by the community as “The Crypto Dog,” the price of Ethereum could surpass $200 if it breaks out of $148 and continues to demonstrate momentum in the weeks to come.
However, the potential scenario in which Ethereum climbs to the $200 region is conditional in that it would have to break out of a resistance level it has struggled to test since February.
One positive indicator for the short-term price trend of Ethereum is the strong…