ALT: Ethereum Is On A Slow Path To Recovery.
MD: Ethereum is working on a slowly and steady movement to get back to its winning momentum.
Ethereum price is still to stabilize with the price fluctuating in the range of $207 – $234 for the past 5 days.
Ethereum (ETH) 2.0 launch should bring in more liquidity for the coin and get more volume putting it on the fast track and adding to its further growth in the crypto market. Investors are awaiting this development with eager anticipation. The crypto market condition is still a lot volatile though better from last week. Ethereum is also trying to regain its lost position with the prices oscillating in the range of $207 – $ 234 as can be observed from the 5-day price trend.
Ethereum price is still undergoing a lot of fluctuations as one can see from the 5-day chart but now the bulls are also increasingly showing their presence. From a low of $207.352 on July 18, the price of ETH moved up to $228.591 on the same day in a span of 9h 15m to the extent of a good 10.54%. However, the price fell to $215.113 on July 19 in a gap of 13h 25m, having a downward movement to the tune of 5.87%. On July 20, it had an upward rally of $234.377 in a gap of 1d 9h 30m to the extent of 8.99%. From this point the bears took over and the price fell to $212.117 on July 22 within 1d 21h to the tune of 9.50%. The current day’s price of $217.080 is higher by 2.34% indicating that Ethereum has been trying to recover from the bear phase of last week which should take some more days.
Ethereum has been trying to consolidate on its popularity and had succeeded in its efforts till early July 2019 when the bear phase set in and turned the tables for the coin. This week though the coin has fairly recovered and touched the target of $ 217.080. Analysts expect the current short-term trend to continue but feel the coin should pick up afterwards and target the year end price at $500 by cashing on the potential of the coin.
Long-term investors can make optimum use of this opportunity to make an investment in ETH which has great future potential. Short-term and intraday investors can consider investing though gains may be minimal in the current crypto market scenario.