Price Analysis

Ethereum Price Analysis: Ethereum Price Takes New Leaps and Bounces Beyond $310

Ethereum has been moving along with crypto market’s major ups and downs majorly affected by Bitcoin. Just because Bitcoin mounts to trade above $12,000, Ethereum inspired by the same escalates its momentum and trades beyond $310. Ethereum seems to go for a power packed momentum this time to constantly maintain the range and therefore benefit the investors and grace their investment portfolios. The current statistics rightly justify the same.

ETH Chart:

Ethereum Price Chart- July 9

ETH Current Market Statistics:

EthereumCurrent Statistics
Price (USD)$313.51
Price (BTC)0.02509794
Market Cap$33,494,709,648
24h Volume$9,899,565,902
Circulating Supply106,824,245 ETH
Return on Investment>9000%

As indicated from the above statistics, it is clear that the coin is on the progress making path. The Return on Investment itself portrays the same. Now, as visible from the above 1-day chart, Ethereum was trading at $302.63 around 1:00 UTC yesterday. The coin had a stable movement until 19:23 UTC, and little did the investors know that the coin would rise from there to trade beyond $310. This manifested a growth of 2.49% in the same day. The coin started growing thereupon and continued with the same momentum at the daybreak today. Currently the coin is trading at $313.51, which is a 1.07% surge from the latter price.

Technical Indicators:

The RSI indicator is marked slightly above 40, which shows a stable trend and no major volatility or extremity.

The major resistance for the coin with the current trading price is around $316 and the major support is $310.

ETH Price Prediction and Conclusion:

ETH has been a sideways option for those investors who do not wish to go long with the speculations of Bitcoin but need equal return on their investments. Therefore, it is predicted that the coin may trade around $500 by the end of the year and will garner great returns in long-term.

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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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