Price Analysis

Ethereum Price Analysis: Has ETH Overcome The Bear Phase?

  • Ethereum looks all set for a good recovery even in the current bear phase of the crypto market

Ethereum (ETH), a very popular platform on the blockchain network, is growing as seen from its wide user base. Ethereum 2.0 release is eagerly awaited by the ETH community as it is expected to improve scalability features and solve existing network issues. August has begun on a good note for ETH and many other coins as the prices have been on a continual upswing, though the bears are still around.

The weekly ETH price chart shows the movement in the price from a low of $213 on Aug 01 to a high of $ 235 on Aug 05. Looks like the recovery has begun for ETH after a dry July spell.

Latest Statistics of Ethereum:

As on August 7, 2019, at 5:52:38 UTC, current statistics are as below:

  • Current trading price of ETH is $228.887
  • Current market cap is around $24,385,406,309
  • 24 h volume is at $7,520,824,249
  • ROI is at a high of 7,932.08 %
  • Circulating supply is at a 107,217,765 ETH

ETH to USD Price Comparison:

Ethereum Price Prediction
Ethereum Price Chart

Ethereum looks all set to make up for the losses incurred in the month of July as observed from the weekly price chart. From a low of $212.990 on Aug 01, the price of ETH shot up to $227.333 on Aug 05 in a matter of just 4 days to the extent of 6.77%. The price further went up to $235.422 on the same day within 10h 35m to the extent of 3.68%. The price fell to $ 227.401 on Aug 06 in a span of 13h 50m to the tune of 3.41%. The price today has recovered mildly, trading at $228.887 to the extent of 0.65%. The price trend reflects that Ethereum is slowly and steadily regaining its price momentum in the market. Coming days would be crucial to see its standing in the crypto market.

Ethereum Price Prediction:

Ethereum has always been a coin with strong fundamentals, and this has worked in its favor even at times of bear phases in the crypto market. Analysts expect ETH to ride strong with its potential and expect the medium-term outlook to be bullish for the coin with a target price of around $500 by the end of 2019.

Conclusion:

Investors should consider the future growth prospects of ETH and invest with a long-term view. Short-term and intraday traders can gain if they invest in keeping crypto market speculative factors in view.

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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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