There has been a lot of hype in the Ethereum price over the past few months, ever since the beginning of 2018. The coin has soared a great number of times and reached new ATH’s. However, over the past week, the network has been through some major problems and its price has been drastically dropping. Today, the coin is trying to regain its lost ground and it seems like it will succeed in doing so.
After a long, sustained recovery from its 2017 high, Ethereum is finally getting back on track to reach the lower end of the $2,000 range, in the process pushing its market capitalization above $20 billion. It is a positive sign that the network is moving forward, and it is likely that we will see a significant move higher in the next few days.
Just to start, a little time in the history of ethereum is in order: The ethereum we’re looking at today is the same network that rose to prominence with the bubbling white head of Vitalik Buterin, the Russian-Canadian programmer who founded Ethereum back in 2013 . Back then, Ethereum was a new cryptocurrency with the ambitious goal of extending third-party application capabilities that had previously only been available on centralized servers. The cryptocurrency’s name comes from the Greek for “the thing a person has and gives value to”.. Read more about ethereum price prediction and let us know what you think.Summary of the situation
- ETH rose yesterday.
- The local limit is about $2,600.
- The next support target is $2,200.
Ethereum price analysis for today is bearish as the market has hit the $2,600 resistance and failed to make any progress. Therefore, we can expect ETH/USD to bounce lower today and retest the $2,200 support. Crypto-currency heat map. Source: Coin360 The market is generally trading in the green today, with risers posting gains overnight. Bitcoin rose 7.45 percent and Ethereum rose 2.35 percent. The rest of the altcoin market has followed this moderate growth pattern over the past 24 hours.
Ethereum price movement in the last 24 hours
ETH/USD was trading in a range of $2,457 to $2,625, indicating moderate volatility. Trading volume fell 12.43% to $32.6 billion. Meanwhile, the company has a total market value of $294.7 billion, giving it a market dominance of 18.61%.
4-hour ETH/USD chart – Fall to $2,600 overnight
On the 4-hour chart, we see the ETH/USD recovering from the losses of the past few days as the market prepares for another downward push later this week. 4 hour chart ETH/USD. Source: TradingView Overall, the market has experienced downward momentum in recent weeks. After falling more than 60%, the market recovered and established strong resistance at $2,900. The subsequent bearish move established a key low at $2,200, indicating that the bulls are gradually regaining control. In the last days of May, the price of Ethereum rose and retested the resistance at $2,900. This means that the market is currently trading in an increasingly narrow range to build a base from which to proceed in the coming months. Ethereum has fallen back to the $2,300 level in recent days and set a local low yesterday. During the night, the market began to rebound and rose above the $2,500 mark again. However, after reaching a lower high, the price action structure in the market has fallen again in recent days. If ETH fails to make a new high today, we can expect a further decline to the next support at $2,200 in the coming days.
Ethereum Price Analysis: Supplement
Ethereum’s price analysis is bearish, as the market has fallen over the past 24 hours and a lower high has been set. This development suggests that we will see further declines over the next 24 hours as the bears prepare to test the $2,200 support level. In anticipation of a further rise in the price of Ethereum, read our guides on Ethereum and Ethereum Classic mining pools. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Ethereum price analysis: Ethereum moves above $2,600, prepares for another push lower?. Read more about bitcoin price and let us know what you think.
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