Price Analysis

Ethereum Price Analysis: Will ETH Step Out of the Bearish Trend?

  • ETH price trend appears less volatile
  • A notable price spike at 281.31 USD
  • Price rise of 74.19% in the past one month
  • RSI for ETH/USD has declined

Last year, even major digital currencies had seen large losses, especially in the 3rd quarter. Ethereum, the most influential crypto coin after Bitcoin had also gone through the same. However, ETH has already started to recover its price since January this year.

ETH kicked off this year with its price at 133.42 USD, which dropped to 104.94 USD after breaking the support at 116.93 USD. The cryptocurrency didn’t show much of the volatility in its price after that. ETH had its All-Time-High price in January 2018, at 1,432.88 USD. Currently, ETH is showing upward motion at a steady pace.

ETH Current Statistics:

ETH price, at 12:40:00 UTC is 266.09 USD with a Market Capitalization of 28,385,472,341 USD. Ethereum’s Circulating Supply stands at 106,264,047 ETH. On Coinmarketcap, Ethereum shows the Return of Interest of more than 9000%.

Ethereum Price Chart

Comparison:

Ethereum price shows a notable price hike in the last 30 days. A month ago, ETH price was at 153.74 USD which now stands at 266.09 USD with a rise of 73.07%. Till 10 May, ETH did not show any major movement in its price, but it started increasing steadily after that and it reached as high as 281.31 USD with a small plunge. The price then dropped a bit and faced resistance at 250 USD before taking one more price spike.

Technical Indicators:

  • RSI for ETH/USD has declined, reaches at 30.88; ETH in oversold or undervalued state as no great volatility is marked.
  • MACD for ETH/USD does not show much of volatility in its price, indicates a bearish trend.  

ETH Price Prediction:

The price trend seems bearish for the short term, however, ETH price shows a gradual increase in its price. Hance long term investors can expect huge returns in a couple of years.  

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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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