Price Analysis

Ethereum Price Analysis: ETH Corrects Down From Highs of $300, Further Bearishness Can Take it to $200

  • With a gradual decrease, ETH approaches key support near $200
  • ETH currently correcting up after hitting bottom at $203.47
  • Over the last 24 hours, XRP has decreased by 19.46%, recovering slowly

Ethereum price has continued its bearish spree today, as, yesterday, Bitcoin has also come down to its crucial support near $10k. ETH had been trading above $260 till yesterday at 9:50 UTC. After that, it has been witnessing a steady downwards movement in its price with an impulse pattern.

Current Statistics:

ETH is at $225.41 at 10:39:27 UTC. It holds Market Capitalization of $24,150,643,675 and Circulating supply of 106,907,452 ETH. Also, at present, it fetches 7,877.85% RoI (Return on Investment).

ETH/USD Price Chart

Ethereum Price Chart
Ethereum Price Chart

Comparison:

Yesterday, ETH had its opening price at $269.28 and it sharply dropped to $241.01 and further corrected down to $235.25. It again saw a sharp decline of $203.47 which was a fall of more than 22.34% from its opening price of the same day.

From here, the 2nd ranked crypto coin has traced a price rebound reaching at $225.41. However, the way ETH has lost gains in the last couple of weeks, it seems that the price recovery will be time taking, that also if it maintains an uptrend. The current price of ETH is 21.91% lower than its 30-Days SMA of $288.69.

Technical Indicators:

MACD for ETH is in the bearish zone with low volatility, while the RSI is at 50 showing stability. ETH may see further resistance at $255.72 and its support levels can be at $213.35 and $199.13.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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