The crypto-related predictions are bullish these days, and Ethereum is no exception.
Ethereum’s low during the crypto winter was about $83. Only during 2019, the digital asset has risen a lot.
A few weeks after the April bull run, the price of ETH struggled to remain at the $200 level.
As you already know, last month, the bulls came back in the crypto market, and this triggered massive enthusiasm among investors.
Smartereum points to the fact that during the extended bulls from this month, the crypto managed to cross the $200 level.
Next challenge for ETH is to cross $300
The online publication writes that the next challenge for ETH is crossing the $300 level.
The price of ETH was able to break above the descending trendline before it started recovering lower, according to the same online magazine.
Bitcoin surged by about 110% since April, and this boost in price has been beneficial for all the altcoins in the crypto market.
“Right now, the price of Ethereum is in a wide range of $226 to $275, and it’s going to remain there for a while. As soon as it is able to break the resistance at $275, a surge to $300 will be inevitable,” Smartereum writes.
They also say that it’s not sure when ETH will hit $300 but that it will definitely happen sooner rather than later.
Ethereum teams up with Microsoft
In other news, Ethereum development studio ConsenSys and the tech giant Microsoft are teaming up with Louis Vuitton SE as tech partners to create a blockchain platform called AURA.
This platform will enable customers to check, trace, and track the production of luxury goods.
Using AURA, the customers will be able to learn about a product’s history and check its authenticity of brands.
At the moment of writing the article, ETH is priced at $249.66 on CoinMarketCap, and the coin is trading in the red.