Ethereum (ETH) Price Analysis Aug 4th, 2019

by Ravi Gupat August 4, 2019, 1:30 pm 493 Views 369 Votes 0 Comments

Ethereum stands second in the top cryptocurrencies of the crypto market. The position gained by ETH is due to the momentum of price. The coin is a high yielding investment plan and has never failed the trust of investors.

Intraday chart embarks downtrend in Ethereum price.
ETH coin indicates lose legs and thus cause recovery.

Last month, the entire market was suffering due to the price drop. There were only a few coins which could maintain themselves at the same level from where the month started. We are positive that the ETH coin would reflect and extraordinary movement. Let’s have a look at the ETH price chart.

ETH to USD Price Comparison:

The chart is taken from TradingView on 04^th August 2019 at 06:40:17 UTC.

Ethereum Chart By TradingView

Yesterday, the Ethereum opened with a heavy upsurge. The coin started at $217.61 and jumped to $224.01 by 2.94%. The coin maintains itself at the level, but there was a drop in the middle of the day. The drop was of 1.21%. ETH price counters changed from $223.09 to $220.39. The intraday progression was of 2.28%. Today, the coin dropped by 2.21%. The currency slipped from $222.58 to $217.66.

Current Statistics of Ethereum:

Particulars	Ethereum (ETH)
Price	219.20 USD
Rank	2
Market Cap	23,532,395,662 USD
24hr volume	5,159,040,864 USD
Circulating Supply	107,179,366 ETH
ROI	7653.90%

Ethereum Price Prediction and Conclusion:

Ethereum price momentum has been reacting well since the beginning of the month. We are quite positive that August would bring a happy time for the investors. The intraday traders would also be seen booking profits from the altcoin market.

The long-term traders could swim in the ETH pool with a prospect of high profits. The currency is a result of giving investment. The coin is speculated to touch $500 by the end of 2019.

Report

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.