What Can Fuel Ethereum to Reach $200 Soon? Trader Predicts $148 Break to $200 ETH/USD

Ethereum (ETH) has been moving out from its lowest point in more than a year and the digital asset is trying to reach $200. At the moment, there are several experts predicting Bitcoin (BTC) to surpass $4,200. If that happens, Ethereum could reach $200 as well.

Can Ethereum Leave The Bear Market Behind?

Ethereum did not have a good 2018. The digital asset fell from $1,400 and reached $83 a few months ago. Nonetheless, the market seems to be recovering after this hard bear trend that the whole space experienced.

According to the cryptocurrency trader on Twitter, The Crypto Dog, if ETH can break $148 it will end the month positively. This would be the first step for ETH to move towards the $200 mark.

If $ETH can break $148 it will end the month+ long range and set the stage for $200+ #Ethereum. pic.twitter.com/cbqVVzmCVl

— The Crypto Dog📈 (@TheCryptoDog) March 30, 2019

One of the bullish reasons behind Ethereum’s growth could be linked to the price movement of several altcoins in the market. Several digital currencies such as Bibox Token (BIX), Tezos (XTZ) or Binance Coin (BNB) have been performing very well in the past days. Thus, it is possible to see that as Bitcoin remains stable, a new inflow of capital is not entering the space, but instead, it is moving away from it to altcoins.

Alex Krüger, a recognized trader and investor in the cryptocurrency space, explained that if Bitcoin breaks above $4,200 this could mean the end of the bear market that started in January 2018.

As mentioned before, altcoins are not showing a similar price trend as Bitcoin. These alternative virtual currencies have been performing independently from one another. A few days ago, Bitcoin’s price tried to break $4,200, however, the price fell immediately $100. Now, Bitcoin is traded close to $4,100.

Meanwhile, Ethereum is currently being traded around $141 and it has a market capitalization of $14.93 billion. In the last 24 hours, the second largest virtual currency has lost 0.4% of its value.

Additionally, $ALTS are the most "overbought" they've been since JUNE 2017 and are at "resistance."

Please take this "analysis" with a grain of salt. Charting Others.D like this could very well mean nothing, I'm looking at it and developing theories, nothing concrete. pic.twitter.com/M1Ddu0Z3Rc

— The Crypto Dog📈 (@TheCryptoDog) March 30, 2019

If Ethereum gathers enough volume, alts continue growing and Bitcoin finally breaks above $4,200, Ethereum could swiftly move to $200.