Price Analysis

Ethereum Price Analysis: Ethereum Trades Above $300 at the Onset of New Week

Ethereum lured its investors by hopping above $300 during the past weekend. Ethereum’s price went as high as $361 in the last Bull Run, when Bitcoin price went above $13000. Ethereum could not sustain in the price pullback stage and could not maintain a persistent trade. Therefore, it slumped below $300. However, it was just yesterday when the price rose, and the coin traded above $300 again.

Ethereum just breaks and trade above its major resistance price. Inevitable to note that the pioneer for blockchain based smart contracts, Ethereum has never failed to tempt its investors with the price trends and momentum.

ETH Price Chart:

Ethereum Price Chart- 8 July

ETH Current Market Statistics:

  • The coin is currently trading at $305 and 0.02664412 BTC
  • The market cap of the coin is 32,557,971,209 USD
  • Having a 24h volume of 8,306,978,960 USD and current circulating supply been 106,809,651 ETH
  • ETH currently fetches >9000% Return on Investment (ROI)

ETH to USD Price Comparison:

As evident from the above 1-day chart from Coinbase, the coin yesterday started with a trading value of $284.70. At around 11:40 UTC, the coin surged to $294.96 showing a growth of 3.60% and then had a stable trend until 16:31 UTC. This was when the coin started climbing and went as high as $311.49 trading from $290.15, having a positive change of 7.36% before the start of 8th July.

The coin today opened around $308 and the trend has been stable and persistent beyond $300 until now.

The MACD of the coin indicates a stable positive result as of now. It was only then, when the price started climbing yesterday from $290.15, the MACD line crossed the signal line showing a bullish crossover. The minor peeps and dips continue with the change in prices.

ETH Price Prediction and Conclusion:  

Ethereum has been the result giving coin for the investors who view for the long-term gains. The coin is ranked at 2nd position in the cryptocurrency market after Bitcoin. Hence, it is a great investment option for those who do not wish to go risky with their portfolio by investing in Bitcoin. The coin is expected to trade above $500, by the end of the year.

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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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