ALT: Will Ethereum Finally See A Bull Run?
MD: Ethereum bears have made way for bulls, but it should be seen how long it will last.
Ethereum – A platform known for its strong fundamentals had been facing a lot of price upheavals during the past few days. However, since the past 2 days, ETH price has taken an upsurge, and it should be seen whether this trend will continue. The next few days should give a clear indication as to where the price of Ethereum would be headed.
After a bearish past week, the price of Ethereum got a breather yesterday when the bulls set in to make their presence felt and lift the price. From the 5-day Ethereum price chart, one can see that the price fell from a high of $239.569 on July 14 to a low of $198.838 within a gap of 1d 18h 50m to the extent of 17.10%. The price was moving the same range till the prices bounced back on July 17 and started moving upwards and reached $219.089 on July 18 within 1d 21h 5m, the upward movement being to the tune of 10.18%. Today, the ETH price is at $222.364, which is higher to the extent of 1.50%. This upward swing should bring some relief to the Ethereum community, the price of which had been reeling under the effects of the bears for the past week.
Strong fundamentals of Ethereum are reasserting their claim as they seem to have regained their lost ground due to the bulls regaining hold over the crypto market for the past 2 days. But one should not become too hopeful about the developments as there is still a chance of bears coming back in full force. Analysts are expecting the short-term trend to be bearish but expect Ethereum to recover over the next few months and target the price to reach over $500 by the year-end.
The bulls taking charge should be good news for investors, but they should still not jump into the fray. It is better for the market to show some more stability. Short-term investors should trade cautiously.