Ethereum Price Analysis: Ethereum (ETH) Price Rally Interrupted due to the Market Pressure
- Intraday chart embarks downtrend in Ethereum price.
- ETH coin indicates lose legs and thus cause recovery.
Ethereum stands second in the top cryptocurrencies of the crypto market. The position gained by ETH is due to the momentum of price. The coin is a high yielding investment plan and has never failed the trust of investors.
Last month, the entire market was suffering due to the price drop. There were only a few coins which could maintain themselves at the same level from where the month started. We are positive that the ETH coin would reflect and extraordinary movement. Click here to Know more about Ethereum Predictions for the coming years of the ETH coin. But before that let’s have a look at the ETH price chart.
ETH to USD Price Comparison:
The chart is taken from TradingView on 04th August 2019 at 06:40:17 UTC.
Yesterday, the Ethereum opened with a heavy upsurge. The coin started at $217.61 and jumped to $224.01 by 2.94%. The coin maintains itself at the level, but there was a drop in the middle of the day. The drop was of 1.21%. ETH price counters changed from $223.09 to $220.39. The intraday progression was of 2.28%. Today, the coin dropped by 2.21%. The currency slipped from $222.58 to $217.66.
Current Statistics of Ethereum:
|Market Cap||23,532,395,662 USD|
|24hr volume||5,159,040,864 USD|
|Circulating Supply||107,179,366 ETH|
Ethereum Price Prediction and Conclusion:
Ethereum price momentum has been reacting well since the beginning of the month. We are quite positive that August would bring a happy time for the investors. The intraday traders would also be seen booking profits from the altcoin market.
The long-term traders could swim in the ETH pool with a prospect of high profits. The currency is a result of giving investment. The coin is speculated to touch $500 by the end of 2019.