Bulls test resistance at $250 amid struggle to regain momentum. At present, market sentiments remain bullish as ETH/USD changes hands at $243.53. A break to the downside will support a bear movement towards the next support at $240.
I don’t think that ETH market is being bullish here from what I see. The market has been around the price range and in the last twenty four hours there has been about 7% decrease in the price, it is moving in the same direction with BTC that has 6.5% decrease. The bull run is really what I am looking forward to, the market has been down for long. Maybe there’s going to be some changes in a month or so.
I believe this because a lot of report that I have been seeing are saying that institutional investors are starting to show interest in bitcoin. When bitcoin goes bullish then ethereum as well will follow it. I am not sure ethereum has potential to have on its own bullish trend like how it performed by the earlier months of 2018. Now ethereum got lots of competitors which could be the reason it is not getting enough investors to keep it pumping regularly.