Price Analysis

Ethereum Price Analysis: Ethereum(ETH) Maintains Price Recovery After Recent Price Drop

  • Ethereum continues to recover
  • It shows low volatility; appears bearish
  • In the last five days, ETH has decreased by 1.13%

Ethereum went as low as 242.39 USD on 30th May, from its 5-month high price point of 288.46 USD with a sharp price drop. Before that, ETH was going through quite a bullish trend, which now has come to a rest.

In the last five days, ETH price has gone through a roller coaster kind of a ride. Price saw impressive hikes along with the recent fall. However, this coin price is heading towards recovery at a steady pace.

Ethereum(ETH) Price Statistics:

At 4:47:03 UTC, ETH was trading at 267.93 USD price mark. With Market Capitalization of 28,672,342,315 USD, it holds 106,332,153 coins in its Circulating Supply. It gives Return On Investment of more than 9000% according to Coinmarketcap.

Ethereum Price Chart:Ethereum price Chart - June 3

On 29th May, ETH price was standing at 271.37 USD. It rose to 288.46 USD on the 30th of May, followed by sharp price drops. Then, bottomed to 242.39 USD breaking its support level at 263 USD. After that, proving its potential, it started a strong price recovery reaching 275.26 USD price point. Since then, ETH has maintained its price range up till now. In the last 5 days, it has shown a decline of 1.13%.

Ethereum(ETH) Price Prediction and Conclusion:

Looking at the lack of momentum in ETH price, it will take time to achieve its next big surge. However, long-term investors will be in profit after the year-end, as it emerges as one of the most trusted cryptocurrency.

ETH Technical Indicators:

  • MACD currently shows a bearish trend, with a lack of volatility.
  • RSI of ETH is at 52.57; maintaining its stability.

 

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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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