Ethereum (ETH) is now trading in a safe zone after struggling with the bears and declining below the $210 mark. Recently, the digital currency even lost its position to XRP (XRP), but it was able to amass strong momentum to regain its position. Ethereum is now in an uptrend close to its previous highs, but the digital currency is facing strong hurdles on the upside close to the $235 mark.
Ethereum (ETH) Price Today – ETH / USD
At the time of writing, Ethereum (ETH) is changing hands at $231 after seeing gains of more than seven percent over the past twenty-four hours. Ethereum (ETH) currently boasts of a market cap of $23.66 billion and its trading volume over the past twenty-four hours has also increased to $2.14 billion.
Thomas Lee Predicts a Massive Rally for Ethereum (ETH)
There have been lots of predictions regarding the values and growth of digital currencies in the market before the end of this year. Nevertheless, the value of most coins seems to be far away from their predicted values, as they’ve been strongly influenced by the bears.
However, a prominent digital currency bull, Thomas Lee – the head of research at Fundstrat – has predicted that the value of Ethereum (ETH) will surge up to $1,900 before next year runs out. He said the digital currency is about to see a very strong price reversal and rally in the coming months, and this would usher the digital currency into new levels, according to a report by Bloomberg.
According to the note written by Thomas Lee, “The digital currency, which has seen a massive sell-off this year as investors lost interest in the digital currency market, is about to bounce back dramatically.” Lee said Ethereum (ETH) has lost 50 percent of its value over the last three months and it has been outperformed by large-cap digital currencies by two standard deviations, which is a clear indication that is it time for a rebound.
SEE ALSO: Keep An Eye On Ripple (XRP) From SEC About Whether XRP Is A Security Or Not -Fri Sept 28