Ethereum Watch

Ethereum was trading in a positive area this Wednesday after rising about 5 percent on a 24-hour adjusted timeframe.The second-largest cryptocurrency settled a new intraday high at circa $286, becoming one of the top-performing assets in the wake of a market-wide upside recovery. At its lowest, Ethereum was trading at $256 earlier this week, according to data fetched from US crypto exchange Coinbase.Ethereum rebounds impressively across the leading retail exchanges | Source: TradingView.comThe asset’s move uphill prompted traders to expect an extended bullish momentum. Prominent analyst Nico wrote in an analysis published earlier today that the Ethereum price could push towards $300 in the coming sessions, citing the level’s relevance during the 2019 bull run.$ETH / $USDCrossed over ~275$ on quite straight up movement since mid january w/ increasing volume (levels back to ’19 bullrun that lead to $300 mark😏)Looking here for a potential retest & R/S flip as entry & signal confirmation of a new leg up w/ target at $300+#ETH pic.twitter.com/FrOqdB6cYS— Nico (@CryptoNTez) February 19, 2020
The jump also led market expert Alex Krüger to say that traders are actively accumulating Ethereum tokens over the past week. The economist noted that the crypto’s average trading volume in the past seven days was four times larger than that recorded in the second half of 2019, adding:“Somebody has been buying a lot of ETH.”