Ethereum is still in bull Run Regardless of its 7% decrease, Ready to Rise Even Higher
The cryptocurrency market is enjoying bullish movement in past days, but yesterday the cryptocurrency market has faced the bearish movement and most of the cryptocurrency and altcoins have experienced loss in their values. Cryptocurrencies such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Binance Coin has experienced high loss in there value.
Ethereum, the largest altcoins wasn’t spare by the bearish trend. Although the value of Ethereum has crossed $200, now the value of $300 is far to reach and before Ethereum could make any move higher the bearish trend correction got started. In recent time, this bearish correction is very bad.
The experts think that this bearish trend is not long enough, the bullish run is still alive and can come back very soon with full power.
Current Status of Ethereum (ETH): Present trading value of Ethereum is $237.33 USD and the value of the Ethereum is decreased by -1.29%. The market capitalization of Ethereum $25,184,769,554 USD and $13,615,044,364 USD. Ethereum’s circulating supply is 106,116,997 ETH.
Yesterday, Ethereum was trading at the value of $239.00 and the market capitalization of the coin was $25,358,502,345 USD at 16:00:00 UTC.
Today, the bearish movement is still on and the currency is suffering loss, but a few days ago in its bullish rally, the value even achieved the price of $274 USD. This type of correction in the value of cryptocurrencies in the market is normal, it is even the best way for the bullish force to go even higher. The value of ETH is close to its 20 days EMA and it is unable to hold its position firm the currency will decrease up to $210 USD. If the bullish rally comes, then the value of the Ethereum could go as high as $279 USD.
The trading is also still from the previous 30 days. The trading volume of the at $7 billion and the buy support extended up to 10% from the highest bidding value. Even after the bearish trend, the technical indicator shows that the Ethereum’s value is still bullish. The price of the Ethereum has increased from its lower value of $83 USD of the previous value. The expert’s prediction about the Ethereum’s value of 2019 is still bullish because it still holds the position of leading decentralized computer of the world. Ethereum is also launching Serenity upgrade (Ethereum 2.0).