The second-biggest cryptocurrency of the current times, Ethereum (ETH) has been up by 2.67% over the last 24 hours. The coin has shown four major price variations in this same period as well. The medium-term outlook of Ethereum seems bullish and it has high potential to reach 500 USD before the New Year sets in. Let us analyze the current details of the coin now.
- Ethereum (ETH) gains 2.67% over the last 24 hours.
- The target for 2019 remains unchanged at 500 USD.
ETH to USD Current Statistics-
|Ethereum (ETH)||3rd August 05:44 UTC|
|ROI (Return on Investment)||7,777.34%|
|Coin Circulation||107,162,835 ETH|
|Market Cap||23,920,933,261 USD|
|Value in USD||222.13 USD|
|Value in BTC||0.02058328 BTC|
|24h Volume||6,480,620,529 USD|
ETH to USD Comparison-
Ethereum initiated the day with a price level of around 215 USD. At 00:32 UTC, Ethereum started gaining and added 6.68 USD before 07:07 UTC. It was followed by a fall in the value by 2.95% and this fall cut the value of each coin by 6.56 USD. By 16:41 UTC, the value was hovering around 215 USD again. It was followed by another fall between 18:35 UTC and 20:45 UTC. This small fall deducted 2.83 USD. However, a big push of 4.37% was waiting for the coin. This push managed to place the coin near 225 USD. Ethereum closed yesterday at around 217 USD.
ETH Price Prediction-
Ethereum, as the second-ranked coin has miles to go before the year’s ending. Its strong fundamentals may place the coin near 500 USD by this period.
|1st Resistance||221.3733333 USD|
|1st Support Level||215.1733333USD|
|2nd Support Level||212.4766667USD|
|3rd Support Level||208.9733333USD|
Ethereum’s high reputation is because of its ability to bounce back. After the last few months’ falls, the coin seems to have decided to be on track now. Long-term investors are expected to have massive profits out of their investments.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.