Ethereum is considered as the second best cryptocurrency in the markets after Bitcoin. The currency has been a solid performer, growing by 9000% over the past year. However, the last few months have not been as good for Ethereum. Let us take a closer look at the recent performance of the currency.
Ethereum price, over the past 24 hours, has been up by 3%. The currency started off the day at a price of $381 and closed the day at a price of $392 – which is a solid sign of growth for Ethereum, especially considering what the market experts have in forecast for the currency. Ethereum peaked at $393 during the 24-hour period.
The market cap of the currency went from $37.6 Billion to $38.7 Billion over the past 24 hours. Looking at the broader picture, the currency has improved over the week as well. Ethereum started the week at $375 and closed the week at $393. The currency peaked at a price of $418 mid-week, when the market cap jumped to $41.2 Billion.
While Ethereum’s current performance looks good – the market experts predict doom for the currency. It is expected that Ethereum prices will fall by $50 over the week, as observed in the graph above. The currency has had a rough 2018 – falling from $1400 to $400 – and even below that. At its current price point, Ethereum faces resistance between $395 to $400 levels. At this point of time investing in Ethereum would be a risk and it is advised to wait for a day or two before the currency’s movement can be ascertained.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.