Price Analysis

Ethereum Price Analysis: Gearing Up For Upcoming Price Surge

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  • Ethereum coin slowly recovers
  • Ethereum price sees a surge; moves towards 250 USD price mark
  • RSI for ETH/USD is around 50
  • ETH price seems a bit volatile; has surged 1.37% in the last 24 hours

Ethereum seems to have broken out of the bearish vibe it was going through in the last few days. After strong declines in its price, ETH was struggling to recover the price drop.

Yesterday, Ethereum price was trading below the level of 240 USD, which is now ranging between 241 USD to 246 USD. In the last 24 hours, ETH is moving further with rapid price bounces.

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Ethereum Current Statistics:

At 5:53:55 UTC, Ethereum price was standing at 245.20 USD. Ethereum holds 26,455,046,736 USD as its Market Capitalization, while Circulating Supply of ETH is 106,372,552 ETH. Ethereum offers Return on Investment of 8,683.02%.

ETH 1 Day Price Chart:1 day Ethereum price chart - 6 june

Comparison:

Ethereum started to trade at 241.87 USD, 24 hours ago. After a few small plunges, Ethereum price rose to 247.43 USD price point with a sharp price spike. After noting another price rise at 248.07 USD, Ethereum went down as low as 237.82 USD from where it had strongly rebounded. It soared to 249.15 USD clearing resistance at 246 USD. However, it took a pullback from there and in the last 24 hours, ETH price has increased by 1.37%.

ETH Technical Indicators:

  • The RSI of ETH/USD is at 50, indicating stability in the price.
  • MACD, at present, appears enough volatile. This points out to the upcoming price fluctuations.

Ethereum Price Prediction and Conclusion:

Frequent price drops in the Ethereum price has come to a rest. Slowly and steadily, the ETH price is likely to show strong rebounds in the near future. However, from the investor perspective, waiting for the better long term return seems to be more apt.

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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