Ethereum Price Analysis: Will Bears Continue To Pressurize ETH Price? - Cryptonic News

Ethereum Price Analysis: Will Bears Continue To Pressurize ETH Price?

  • Ethereum price has been trading in the downward range over the past 5 days

Ethereum (ETH), the second-largest cryptocurrency began with a good note at the onset of August but looks like it is moving towards a short-term bearish trend if one looks at the current crypto market volatility. The price of ETH has been continually downgraded like other altcoins with the bears ruling the market. The 5-day price chart for ETH shows the price oscillating in the range of $208 – $238 indicating that the bears are still holding the reins and are in no mood to let go.

Latest Statistics of Ethereum:

As on August 10, 2019, at 5:38:58 UTC, current statistics are as below:

  • Current market price of ETH is $211.370
  • Current market cap is around $22,740,348,477
  • 24 h volume is at $7,050,059,967
  • ROI is at a gigantic 7,387.40%
  • Circulating supply is at 107,258,357 ETH

ETH to USD Price Comparison:

Ethereum Price Comparison
Ethereum Price Chart by TradingView

Though August started on a positive note for Ethereum, the price has been continually on a downward swing from Aug 08 as seen from the 5-day price chart. From a high of $235.428 on Aug 05, the price of ETH fell by 3.70% to $226.038 on Aug 06. It then rose to $238.050 on the same day in 8h 30m, the upward movement being 5.43%. On Aug 07 within 21h 35m, the price had a fall off by 6.40% at $222.908. In 5h 5m on the same day, the price rose to $231.113 to the extent of 3.68%. In a matter of 1d 4h 5m on Aug 08, the price had a fall at $216.055 by 6.52%. The price further fell to $208.864 on Aug 09 in 16h 30m to the extent of 3.44%. Today the price has slightly risen to $211.370, indicating a jump of 1.20%. With the bears still around, looks like the short-term will have a bearish momentum for ETH.

Ethereum Price Prediction:

Ethereum has a reputation of bouncing back quickly after a bearish turn. One should wait and watch whether ETH will be able to do a U-turn in this current market scenario as the bulls are still prominent. The short-term appears to be bearish for ETH like for other altcoins. Analysts, however, feel this is a short-term phase which will pass and make way for a bull run during the medium-term.

Conclusion:

Investors might have decreased their holdings on account of the current bear market sentiment, but long-term investors should still hold on to their investments as Ethereum is the coin for a huge haul. Short-term investors can consider investing but should keep track of the volatile factors controlling the market.

Source.cryptonewsz.

Ethereum Price Analysis: Will Bears Continue To Pressurize ETH Price? Ethereum Price Analysis: Will Bears Continue To Pressurize ETH Price? Reviewed by Staff Reporter on August 11, 2019 Rating: 5

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