Ethereum Price Analysis: Will August Bring In The Much Needed Rush For Ethereum (ETH)?
- Ethereum looks all set for a price rally through the bears keeps showing up in the intervals.
Ethereum (ETH), the second-largest cryptocurrency on the blockchain network, has caught the attention of major organizations ranging from pharma to financial services due to its viability. ETH looks all poised for a bull run in August after facing a heavy bear phase during July. Most of the crypto coins are attempting to recover from that onslaught and push the price upwards. The one-month price chart for ETH shows how the bears had taken over ETH after July 10 when the price was as high as $313 and the slow recovery made by ETH during the first week of August.
Latest Statistics of Ethereum:
As on August 8, 2019, at 4:48:41 UTC, the current market statistics of the coin for Future ETH Forecast are as below:
- Current trading price of ETH is $225.835
- Current market cap is around $24,262,027,242
- 24 h volume is at $7,003,636,191
- ROI is at a huge 7,890.47 %
- Circulating supply is at a healthy 107,230,805 ETH
- 30 Day High/ Low – $313.07/$193.99
ETH to USD Price Comparison:
The price chart of ETH for the 30-day period shows a lot of price variations with the trend being mostly in the bearish range. The first week of August has been good for ETH with the price showing a bull trend after a pale month.
From a high of $313.691 on July 10, the price of ETH had a massive fall to $200.150 on July 16 within six days only, having a huge variation to the extent of 36.49%. Within next 4d 4h 30m on July 20, the price did show a slight recovery of 18.24% at $236.974. In 8d 2h 30m on July 28, the price fell to $202.605 to the extent of 15.02%. However, on Aug 06, after a gap of 8d 13h 30m, the price exhibited an upward movement of 16.36% at $235.747. Today the price has lowered to $225.835 to the extent of 4.20% indicating that though the bulls are in revenge mode, the bears are still making their presence felt around.
Ethereum Price Prediction:
The bears had made hay during most of July, and this affected most of the altcoins in the crypto market. Ethereum seems to have put behind the losses of July and moved ahead in August with the price surging ahead though intermittent bear spells continue to oscillate the prices. The bulls are trying hard to take over and turn the tide for ETH. Analysts feel the next few days will decide how ETH price is set to move though August has begun on a good note for the coin. We expect a bull run during the medium-term and feel that ETH will go as high as $500 by the year-end.
Conclusion:
The time is right for long-term investors to make a move as the prices are slowing inching upwards. Short-term and day traders can also take advantage of this factor but should also consider volatility in the market to time their trade.
