Home Technical Analysis Ethereum Price Analysis: Will Bear Momentum Bring Ethereum (ETH) Price Further Down?

Ethereum Price Analysis: Will Bear Momentum Bring Ethereum (ETH) Price Further Down?

Ethereum is a blockchain platform which can be used by developers to build different applications. It is the largest and the most active community on the blockchain network. The price of Ethereum has been on a downslide for the past days due to the bear sentiment looming large over the crypto market. The last 24-hours was also not good for Ethereum, and the price was fluctuating in the range of $266 -$278 showing that though Ethereum is trying to get its price on the upward trend, the bears are continually pulling it down.

Latest Statistics of Ethereum

As on July 13, 2019 at 2:39:35 UTC, current statistics are as below:

  • ETH price is trading at $274.144
  • Current market cap is around $29,359,941,903
  • 24 h volume is at $29,359,941,903
  • ROI is > 9000%
  • Circulating supply is at 106,875,375 ETH

 ETH to USD Price Comparison

Over the past 24 hours, the price of Ethereum has fluctuated mostly in the downward range. Ethereum price was trading at $274.513 during early hours of July 12, but within 3h 30m, the price went on a downslide to 266.236 indicating a slide of 2.99%. The ETH price managed to gain an upsurge within 6h 18m, the movement being to the extent of 4.61%. Again, in 4h 51m, the price went downhill to $271.503 to the extent of 2.49%. It found some respite when the price went up to $278.395 upward movement was to the extent of 2.54%. Today, the price of ETH coin is trading at $274.144, which is lower to the tune of 1.53%.

Ethereum Price Prediction

 The price of Ethereum has been fluctuating over the past few days due to continuous market volatility. It had gone as high as $315 on July 09, but then the bear momentum set in and brought the price down to today’s price of $274, which is lower by 13.01%. It looks like bears have decided to make hay for some more time. Even with this market sentiment, analysts predict the Ethereum price should target around $480 – $500 by the year-end.

Conclusion

Investors are advised to have a cautious outlook and not invest in the current market sentiment. Nothing can be predicted at this time as to which direction the prices will be headed.

Robert Hill
Robert a Crypto writer and an expert in delivering content with both informative and entertaining approaches. He has 4 years of experience working as a crypto writer with our team. You can interact with him by email: robert@forexnews.world.

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