Price Analysis

Ethereum Price Analysis: A Strong Rebound in ETH Price is Much Awaited

  • Ethereum faces a price fall
  • ETH decreases to 7.17% in a day
  • ETH shows less volatility; with a bearish trend
  • RSI of ETH currently appears around 50

Ethereum (ETH) has taken a pause from the bullish vibe it was having since a few months. The coin was surging higher and higher since January 2019, and it even reached as high as 287.40 USD recently. However, in the last 24 hours, a strong decline in price has been noticed.

After hitting the 287.40 USD price point, ETH maintained the price range for a certain time, but then it dropped to 265.62 USD after breaking its support level of 275.00 USD.

ETH Price Statistics:

At 5:18:29 UTC, ETH price stands at 249.40 USD. At present, Market Capitalization of Ethereum is 27,073,050,430 USD. There are 106,290,855 ETH coins in its Circulating Supply. Ethereum offers the Return on Interest of 8,895.11%.

Ethereum Price Chart:

Ethereum Price Chart-May 31

The price chart shows how the ETH price has taken a nosedive after a recent bullish surge. The ETH price went as low as 235.44 USD with a sharp price drop. The price took a small rebound but has not recovered much from there. In the last 24 Hours, the ETH price has shown a decrease of 7.17%.

ETH Technical Indicators:

  • MACD for ETH/USD shows a bit of momentum in its price trend, though with less volatility.
  • RSI is currently between the range of 40 to 60, showing stability.

Ethereum Price Prediction:

There seems a strong possibility for the rebound in ETH price. The coin is likely to recover soon within a couple of months. Ethereum probably will give way better returns to the long term investors.

Conclusion:

The current bearish slump in the ETH price seems to be temporary. Looking at the history of leading cryptocurrency Ethereum, it may soon show price recovery with higher price spikes.

Tags

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.

Related Articles

Back to top button
Close