The Ethereum Threaten $190 mark after going through several strong resistances in the past few hours of trading. Trading began at $166 but a boost pushed it up to 174 shortly in the day.
Strong Start Fuels Ethereum to Threaten $190
It began by moving above the strong resistance at $174 where it created a bullish curve in the first 30 minutes of trading as it continued to move above the next level at the 178 mark. The strength continued after starting really low at $166 for the day. The bullish momentum moved it above the crucial $185 resistance level to land at $188 as an intraday high, putting in a position for Ethereum to threaten $190.
The Ethereum’s rise gives it a strong support level at $173 in case it falls back as it corrects. As of this writing the price to the dollar has settled at around $186.
ETH Supports Crypto Market, Bitcoin Rise
The strength of the Ethereum was a positive event for the largest crypto coin as it pushed it higher. The Bitcoin moved from $5200 to above $5,300 for the day as it makes the most of its recent strength. This marks an impressive 7 day rate of increase of 27.5 percent. The Bitcoin is now staring a resistance at $5,600 and $6,000.
The Crypto market continues its growth. The market cap increased by over $13 billion since last Friday and continues as crypto market cap rose to $183.4 Billion to date.
XRP Showing Recovery
The XRP went down last week after corrections brought the Ripple coin down 2.6% to $0.325. However, good news about a new exchange adoption in the Nordic Growth Market Exchange (NGMT) pushed the coin to recover. The launching of new Exchange traded products through the NGMT helped fuel the price jump. The funds are sold by the company, XBT Provider. XBT is a company specializing in funds tracking crypto based currencies.