Price Analysis

Ethereum vs. Bitcoin: ETH and BTC Aim for a Rapid Price Recovery

After striking a sharp price hike reaching as high as 288.01 USD, Ethereum has tapped onto a bearish vibe with less volatility in its price path. In the last 24 hours, ETH has gone through a few price drops.

Being the topmost crypto asset, Bitcoin seems to be less affected, yet its price has fallen quite a bit after a notable price spike. Both the major cryptocurrencies have started to recover the prices but at a slow pace.

Current Statistics

Statistics

Ethereum (ETH)Bitcoin (BTC)

Price (USD)

10:00:44-UTC

254.65 USD8301.54 USD

Market Capitalization

27,073,050,430 USD

147,972,795,184 USD

24h Volume

13,201,667,420 USD

29,101,328,647 USD

Circulating Supply

106,290,855 ETH

17,733,150 BTC

Return on Investment (RoI)

8,895.11%6,067.34%

ETH and BTC Price Chart:

Ethereum/Bitcoin price Chart May 31

Comparison:

Yesterday, Ethereum went as high as 288.69 USD, from where it saw a pullback. After breaking its support at 263 USD, ETH had bottomed as low as 235.44 USD price point. The coin rebounded from there and after a small plunge, it has reached 254.65 USD price point. In the last 24 hours, it has decreased to 5.54%.

A similar price trend was witnessed by Bitcoin, where it had a sharp price spike at 9092.79 USD, which later saw a pullback. After breaking its support level at 8489.01 USD, it took a nosedive reaching 8033.24 USD price mark. Bitcoin is currently standing at 8301.54 USD with a decrease of 4.21 %.

Conclusion:

The current price drop in both the crypto coins seems to be for a short term only. As both the cryptocurrencies are promising enough, their prices will soon see better price hikes.

 

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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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