Experts name the conditions for ETH to break the $1,200 level

Ether will grow, newsbtc.com analysts say. According to them, the coin is about to overcome the $1,200 level and may go even higher. Not yet over the Moon, of course, but it can be the first step to getting out of the bear cycle. We just have to wait for that.

Experts predict a jump above $1,200 for Ethereum, provided that the next significant resistance will fix at $1,120. In that case, the price could rise towards the $1,250 resistance. If the bulls remain in action, the price might climb even towards the $1,320 zone.

Earlier, the bulls pushed the price above $1,150 and $1,160 levels. After that, the price of Ethereum even broke through the $1,185 level and reached the $1,194 level. Then the coin price fell below the 23.6% Fibonacci retracement are trend lines drawn between two significant points, usually between absolute lows and absolute highs, plotted on a chart of the recent rise from a low of $1,110 to a high of $1,194.

However, the experts noted that the price is trading above $1,150 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $1,160 on the hourly chart of ETH/USD.

The research says that immediate resistance on the upside is near the $1,190 level. The next significant resistance is near the $1,120 zone, above which the price may perhaps gain strength. The price could rise towards the $1,250 resistance in the stated case. If the bulls remain in action, the price might climb towards the $1,320 zone. 

What if…?

If Ethereum does not rise above the $1,200 resistance, it could begin a downside correction when prices temporarily decline in an uptrend. But let’s hope for the best. At the time of writing, Ethereum is trading at $1,185 per coin, saying that the experts’ prediction is slowly coming true. We’ll just have to wait.