Price Analysis

Ethereum (ETH) Embarks Moderate Recovery; Intraday Trading might Bring Good Results

  • Ethereum (ETH) price recovers from intraday loss.
  • The expectation of profitable closing strengthens.

Ethereum is following Ripple (XRP) today. Both the coins began with a loss and now are moving towards recovery. The currency has a high prospect of giving flourishing results in the future. If we look at yesterday’s chart, Ethereum was seen touching a high at $180.80 and a low at $172.60, having a volume of $6,381,403,725.

Ethereum Price Analysis:

Ethereum Price
Ethereum Chart By TradingView

The chart is a data feed from Bitfinex as on October 04, 2019, at 11:15 UTC. The coin started trading at $181 in yesterday’s trading duration. The currency started falling from the beginning of the day as the first fall took the price to $177 by 2.29%. The second fall took Ethereum to $171 from $178 amrking a regression of 3.87%. After falling, Ethereum started moving up as the price jumped to $176 by 3.01%. Despite escalating Ethereum booked an intraday loss of 3.33% regression as the day closed at $175. Today, Ethereum started trading at $175 wherein the first few hours created a pullback. The price counters changed from $176 to $171 by 2.01%. The improvement in the price is back as the coin mounted to $176 by 2.44%.

Ethereum is counted among the most promising cryptocurrencies in the market. The first six months of Ethereum were extraordinary. The second half of the year experienced market pressure, which took the price down. We are anticipating that the coin will soon come out of the drop and shine again. The currency is likely to bring maximum profit to the long-term traders.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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