Price Analysis

Ethereum (ETH) Price Analysis: is ETH Ready to Break the Bearish Vibe?

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  • Ethereum Price still struggling to rebound
  • ETH falls again; moves towards 230 USD level
  • RSI for ETH/USD is above 30
  • ETH soared to 1.24% in the last 24 hours

In the last two days, the Ethereum price has been tumbling, and it had even touched its 5-day low price mark. ETH price continues to trade bearishly as it has gone through a few more price drops in the last 24 hours.

Yesterday, ETH started to recover from 238.61 USD. However, after that, the ETH price saw a steady decline, and it went as low as 234.07 USD price mark.

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ETH Price Current Statistics:

At 04:27:48 UTC, ETH was trading at 241.59 USD price point. Ethereum holds 26,005,648,663 USD as its Market Capitalization while Circulating Supply of Ethereum is 106,358,681 ETH. It offers Return on Investment of 8,534.95%.

Ethereum Price Chart:Ethereum Price Chart

Ethereum Value Comparison:

After a major price plunge at 238.61 USD, ETH rebounded slowly and reached 251.16 USD price point clearing resistance at 249 USD. After maintaining the range for a while, ETH price dropped and bottomed at 234.07 USD after breaking its support level at 236 USD. In the last 24-hour, Ethereum price has shown an increase of 1.24%.

Technical Indicators:

  • The MACD chart points out to the lack of volatility in the price trend of the ETH while indicating bearishness in it.
  • RSI for ETH/USD is just above 30, which shows that ETH is currently oversold.

Ethereum Price Prediction and Conclusion:

If the ETH coin continues to move upward, it may face resistance at 246 USD and 250 USD. In the short term, the coin seems to take a little longer to bounce back. However, in the long term, Ethereum is likely to give notable returns in the next couple of years. In a nutshell, investors and crypto believers can have a ‘wait and watch’ approach, considering the current bearish trend in ETH.

Ruti Vora

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

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