Ethereum (ETH) Price Analysis: Is The Current Bear Phase A Temporary One For ETH?

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  • Ethereum price has seen a lot of variations as observant from the weekly trading movement of the coin, where the price was as high as $234 on July 20 and as low as $202 on July 24.

Ethereum has been in the news for its developments which will go a long way in improving its scalability and network issues. However, the price has been caught amidst the intermittent bear and bull phase going on currently in the crypto market with bears showing an upper hand. Although, ETH tried holding a decent price run when bears had been pushing the prices down at regular intervals. The bears have taken over for the past four days as seen from the weekly chart but the bulls are still feebly around.

Latest Price Statistics of Ethereum:

As on July 26, 2019 at 6:37:25 UTC, current statistics of the coin are as below:

  • Current market price of ETH is $211.322
  • Current rank is 2
  • Current market cap is around $22,950,906,336
  • 24 h volume is at $5,993,245,909
  • ROI is still at a huge 7,471.09 %
  • Circulating supply is at 107,054,870 ETH

Ethereum Price Comparison:

Ethereum price chart July 26
Ethereum Price Chart by TradingView

The price of Ethereum had been enjoying a linear price correction upwards, over the past few days when the price was as high as $234.069 on July 20 but then the bears set in and the price slid by 9.68% to $211.322 on July 22. On July 23, the price made a recovery to the extent of 3.27% with a trading value of $217.862. However, on the other day i.e. July 24 the price went down to $202.887 having a dip of 6.87%. In a matter of 13h on the same day, the price showed a recovery of $214.924, recovery being to the tune of 5.93%. The price today has gone down to $211.322 which is lower to the extent of 1.68%. The bears are once again making their presence felt in the crypto world and Ethereum is also facing a selling pressure where for the past week the price has been in the range of $202 – $234.

Ethereum Price Prediction:

Ethereum had been recovering well from the bear phase over the past few days and the bulls had taken good charge. However, the bears have again come back into the picture and have been pushing the price down. Analysts expect this trend to be for short-term and think ETH will recover during the medium term and targeted the price at around $475- $500 by the end of the year.

Conclusion:

Investors looking out for a long-term opportunity can go ahead and invest as Ethereum has been a fundamentally strong coin with future growth prospects. Short-term investors should wait for the market to show stability, otherwise could incur losses.