ALT: Will Ethereum Price Regain Itself?
MD: Ethereum price has been going through a lot of bear fluctuations for the past few days.
- Ethereum bears continue to rule as observed from the 7-day price chart
Ethereum (ETH) bulls are trying hard to regain the momentum with the bears showing an upper hand in the current crypto market scenario. From July 27, the bears have been going strong continually pushing price to the lower range with the price of ETH going as low as $ 199 on July 28. The 7-day chart shows bull and bear price fluctuations will bears ravaging for the past 3 days and the price showing variations in the range of $ 199 -$ 224.
As on July 31, 2019 at 4:53:15 UTC, current statistics is as below:
- Current market price of ETH is $ 208.535
- Current rank is 2
- Current market cap is around $ 22,681,959,677
- 24 h volume is at $ 5,335,877,063
- ROI is at a massive 7,377.69%
- Circulating supply is at a healthy 107,121,798 ETH
The bears are still making merry in the crypto market and Ethereum has also been facing the heat as observed from the 7-day price chart. On July 24, the price was at $ 209.803. The bulls then stepped in and pushed the price upwards to $ 224.092 on July 25 in a matter of 5h 50m, to the extent of 6.96%. However, in 1d 45m on July 26, the price of ETH fell to $ 213.359, downward movement was to the extent of 4.76%. On July 27 in a short span of 23h 50m, the price rose to $ 223.057, movement being to the tune of 4.67%. The bears had again become very active in the market and the price of ETH also went down to $ 199.522 on July 28 in 1d 21h 25m, the downward movement being 10.55%. ETH did show a recovery on Jul 29 at $ 213.811 in a matter of 3h 5m to the extent of 7.16%. With the bears still around, the price has gone down again today at $ 208.535, which is lower by 2.47%. The bear momentum is expected to be around for the short-term in the crypto market.
Ethereum’s Price Prediction
Ethereum is trying to get hold of the upper price momentum but the bears are just getting in the way. Analysts expect this current trend to continue for the short term as current crypto market being a speculative and volatile market, exact forecast is not possible as of now. Still, analysts are bullish on
Ethereum due to its huge potential and developments taking place on its network and, so they have maintained the target price of around $ 500 for the year end.
Long-term investors need not worry much and continue holding their investments. Short-term and speculative investors should invest with caution keeping market volatility in hindsight.