Price Analysis

Price Analysis of Ethereum (ETH): These Bounce Backs Are Just the Preface of Long Due Bullish Trends

  • MetaMask, the new browser of Ethereum, is doing wonders for the blockchain.
  • The increased use of decentralized apps and smart contract is only going to benefit Ethereum (ETH).

Proof of Stake (POS) consensus protocol, which is developed in order to inculcate further blocks and enhance the scalability of the chain is another good news for Ethereum (ETH). The billion-dollar deal between Amazon and Ethereum and technology updates have helped the altcoin in gaining the mainstream attraction.

Analysis:

  • On May 28, at UTC 9:54, Ethereum (ETH) is at 2nd position in the crypto market.
  • According to tradingview.com, Ethereum (ETH) is trading around 270.31 USD against Bitcoin.
  • Additionally, the altcoin was valued at 0.03103401 BTC per chip against Bitcoin.
  • 25-days back, on May 03, Ethereum (ETH) was trading at 164.90 USD. Nevertheless, its price strengthened since then, and today it is trading with a thumping hike of 63.93%.

Ethereum (ETH)

Comparison:

Market Cap

28,620,752,278 USD

24 Hour Volume

12,122,540,145 USD
Circulating Supply

106,253,723 ETH

All-time High

1,432.88 USD (Jan 13, 2018)

                           All Time Low

0.420897 USD (Oct 21, 2015)

               7 Day High / Low

278.51 USD / 233.79 USD

             Yesterday’s High / Low

278.51 USD / 265.44 USD

                  Yesterday’s Open / Close

267.14 USD / 272.86 USD

                 Yesterday’s Change

5.72 USD (2.14%)

          Yesterday’s Volume

12,074,664,736 USD

Ethereum (ETH) Price Prediction:

Crypto market was facing a bearish trend in the month of April. However, as you can see in the charts, the price of Ethereum remained relatively stable in those tough time. Nevertheless, since the market correction in the first week of May, the crypto is on a high fly, as can be observed by the slop of the green in the later part of the chart. As per our prediction, Ethereum (ETH) seems to be hitting 1000 USD mark by the end of 2019 and is good crypto to look out for in the long term.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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