Price Analysis

Ethereum (ETH) Price Analysis: Twitter Poll Prefers Ethereum; Value May Reach Previous High $194.60

  • The end of this quarter anticipates the previous high at $194.60.
  • A major Twitter Poll gives preference to Ethereum over other major currencies.

Ethereum (ETH) is an open-sourced and decentralized blockchain platform designed by Vitalik Buterin, Gavin Wood, and Joseph Lubin. The transactions done on this platform is immune from any external interference. It deals with smart contracts and Ethereum Virtual Machine (EVM).

Current Statistics-

Ethereum

  • Ethereum (ETH) is the 2nd largest crypto coin in the global crypto world.
  • The ROI (Return on Investment) stands at whopping 5968.55%.
  • The number of Ethereum coins in circulation is 105,990,725.
  • The current market cap of Ethereum as on 09th May at 03:24 UTC is 18,220,397,926 USD.
  • The value of each coin stands at 171.91 USD and 0.02834388 BTC.
  • The 24h volume at the same UTC stands at 6,316,575,219 USD.

Comparison-

Ethereum’s trading chart is one of the most inconsistent charts of 2019 until May. There have been more than 5 major cases of ups and downs in these 4 months. The lowest point of Ethereum was on 104 USD on 08th February. The highest point was achieved on 11th April at 181 USD. However, Ethereum was probably the only coin which managed to sustain the growth rate with some price variations. The market cap on 09th April was 18,822,559,826 USD. And the value of each Ethereum token was 178.27 USD and 0.03428643 BTC. The current market cap and coin’s value is 3.56% less than the values of the past month.

The 1-day chart of Ethereum also is not showing any kind of consistency with a range of 4 USD.

Prediction-

In a recent Twitter poll conducted by Su Zhu, who runs Three Arrows Capital firm, people have voted in support of Ethereum than Bitcoin Cash. As per the poll, 69% of people will prefer spending $10,000 on Ethereum than Bitcoin cash. This can be credited to the global footprint Ethereum is trying to make. We predict the Ethereum coin to have an uptrend now. The next resistance will be there at 185 USD. And by the end of this quarter, the value may reach as high as 195 USD to the previous high. This approximate 10% increase will have a good bearing on medium term and long term outlook as well. By the end of 2019, the value may breach the 250 USD target.

Conclusion-

Short term investors are advised to lock in buying positions and selling Ethereum coins are advised at previous 194 USD level. Long term holding of Ethereum will never disappoint the investors.

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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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