Ethereum Price Analysis: Will Bulls Finally Make an Entry for Ethereum (ETH)?

Fibo Quantum

  • Ethereum has been going through phases of bear and bull moments through the current week

Ethereum is a largely popular coin on the blockchain platform has been in the news for its eagerly awaited Ethereum 2.0 which is expected to make the network more robust and user-friendly. Ethereum had a good run till the end of June 2019 even though the bear phase was active in the cryptocurrency market. However, from the second week of July 2019, the price of Ethereum has taken a beating though bulls did pull the price up during the 3rd week of July. Even now, as seen from the 5-day chart, the bears are currently active though the bulls are inching closer and the ETH price has been fluctuating in the range of $204 – $224.

Latest Statistics of Ethereum: 

As on July 27, 2019, at 6:33:18 UTC, current statistics are as below:

  • The current market price of Ethereum is $220.874
  • Current market cap is around $23,701,453,124
  • 24-hour volume is at $5,922,085,617 
  • ROI is still at a huge 7,717.70 %
  • Circulating supply is at 107,068,314 ETH

ETH to USD Price Comparison:

Ethereum price chart July 27
Ethereum Price Chart by TradingView

Ethereum price has been going through a lot of variations due to the ongoing volatility of the crypto market. From a high of $224.080 on July 22, the ETH price went to $204.048 in 1d 12h 30m to the extent of 9.01%. The price did show recovery at $224.905, in a span of 1d 55m on July 24, recovery was to the tune of 10.15%. On July 26 in a matter of 1d 1h, the price of Ethereum fell to $213.051, the downward movement is to the extent of 5.34%. In a matter of 18h 25m on the same day, the price showed an upward movement to the tune of 3.31% at $220.1038. Today the price has mildly shown an increase of $220.874, the increase is to the extent of mere 0.35%. The trend shows that bulls are trying hard to get back.

Ethereum Price Prediction & Conclusion:

ETH price is working hard on stabilizing its position in the cryptocurrency market, but the bears are still going strong. It may take some more time for the market to show maturity. Analysts expect Ethereum to recover during the medium term and have maintained the price at around $500 for the year-end.

Investors should look at the potential of the ETH coin and not only the current volatility of the crypto market and consider investing from a long-term perspective.