Price Analysis

Ethereum Price Analysis: Ethereum (ETH) Again Goes Bearish; Hits 5-day Low Price Point

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  • Ethereum price reaches its 5-day low price mark
  • ETH price enters into a volatile phase
  • Ethereum rebounds but still in the bearish zone
  • RSI for ETH/USD is at 52.80

Ethereum price was struggling as the crypto market saw a few price falls after the strong bullish trend it had. Yesterday, crypto investors were keeping an eye over ETH price momentum hoping a strong price recovery. However, instead of a price surge, Ethereum price dropped to quite a level.

In the last 24 hours, ETH price took a nosedive reaching as low as 238.61 USD. It then started to recover but is still ranging below 248 USD price mark.

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ETH Price Current Statistics:

At 4:41:15 UTC, ETH was trading at 246.47 USD. At present, Market Capitalization of Ethereum is 26,280,464,792 USD. Circulating Supply of ETH coins is 106,345,023 ETH with ROI of 8,627.32%.

ethereum price chart - June 4

In a day, Ethereum saw a steep price fall at 238.61 USD, which was its 5-day low price point. It noted a price decline of 11.42%. Ethereum indicated a slow rebound from there and reached at 246.47 USD. In the last 24 hours, ETH has decreased by 8.51% considering the price mark of 269.40 USD.

Technical Indicators:

  • With a bit of volatility, the MACD chart shows that ETH is currently going through a bearish trend.
  • RSI for ETH/USD is above 50, indicating stability at present.

Ethereum Price Prediction:

Price of Ethereum, if bouncing to the bullish zone may face resistance between 260 USD to 270 USD. It seems, short term investors need to wait and watch considering the bearishness in ETH price. Long term investors are likely to see notable price surges in ETH till the year-end.

Conclusion:

Ethereum, being the second most prominent cryptocurrency, will soon show strong price recovery with higher price spikes. The widely adopted crypto coin is expected to justify its position in the crypto market sooner or later.

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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