Ethereum Price Analysis: Ethereum (ETH) Needs To Discover The Magic Spell To Surge On Its Own

  • Ethereum’s knot with Bitcoin has to break to earn the trust of investors
  • Ethereum’s upcoming event Devcon may bring some momentum back

Ethereum may be independent of Bitcoin in terms of technology and back end support, but the coin starts dipping as soon as Bitcoin starts showing bearish trends. The investors seeking long-term gains from the coin now expect ETH token to move on its own irrespective of BTC value and show surge or steady price movements. The current market statistics, however, reflect ETH’s prolonged relationship with the Bitcoin price movement, but the upcoming Devcon event may bring some pace back.

Ethereum Price Statistics:

Ethereum is observed to be trading at $276.25 as on July 2, 2019, at 06:55:35 UTC. The price of ETH token has fallen from $336.98 to the current value in the last 5 days, and the coin depicted sluggish trends throughout this time period dipping as low as $275 with only one high value at $324.77. ETH has recorded a downtrend of over 18% in the last 5 days and continues with the bearish trends.

ETH Price Chart - 2 JulyETH Price Chart - 2 July
ETH Price Chart
  • The price of ETH is noted to be $276.25 and 0.02820427 BTC
  • The market cap of the coin has reached $29,653,206,176
  • The 24 h volume has been $10,270,274,343
  • The ROI of the coin is observed at >9000%
  • The circulating supply of the coin is now 106,727,869 ETH

ETH dipped as low as $280 yesterday but started today on a lower note trading around $275. The coin may fall further to trade at $270 by the end of the day. The coin may start growing after it crosses its first resistance level at $289.48.

Ethereum Price Prediction:

Ethereum may continue to move below $300 for some time now but will pick up the pace soon as expected by the market analysts. The coin has immense potential to move past barriers and surge exponentially. Bullish trends can be expected around mid-July and ETH may still cross $500 target by the end of this year.

Conclusion:

Investment in ETH is a good deal now and may provide good gains in the long-term.

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