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Ethereum Price Analysis: ETH Bulls Started the week with Green signal

The cryptocurrencies in the market are today enjoying some bullish movement in their values. At the time of writing the top 10 virtual currencies are blinking with the green signal. Bitcoin, Ethereum, Ripple, etc. are doing good in the market. If we talk about Ethereum, the currency today has started with the bullish movement in the price.

Ethereum tested its price around the $180 last week, but unfortunately, it fell down around $178. But shortly after that, the value of Ethereum touched the value of $188 and currently the trading above $190 Mark, same as the other bullish cryptocurrencies in the market today.

Current Status of Ethereum: Currently the currency is trading at the value of $193.93 and its value is increasing by 3.23%. The market capitalization of the currency is $20,897,654,549 and the 24-hour value of the currency is $6,496,760,764. The circulating supply of the currency is 107,761,514 ETH and the ROI of the currency is 6,748.55%.

Source: coinmarketcap.com

Ethereum has been in news for network congestion. It is going the increased amount of transactions and experts are thinking that it is because of the low-value status of Ethereum. The total daily gas used by ethereum’s blockchain is currently at all-time highs based on the 14-day moving average. On the other hand, the CEO of the Ethereum, Vitalik also has down podcast along with 80000 hours and stated he was very positive about Ethereum 2.0. He also said that the Ethereum 2.0 will be such as the world computer.

Price Analysis and Prediction of Ethereum: The RSI of ethereum is also looking strong and bullish movement is possible. The Bollinger bands are close to the upper Bollinger band and still looking for increasing movement. The value also past above the moving average line and rebound is possible. The volume of the other hand is low currently and it shortens the possibility of large moves.

Ethereum is currently, trading at the value of $193 and the experts think that the first target of Ethereum is to test the value of $220. if it doesn’t happen then it will test the value of $188. The RSI and Bollinger are showing the possibility of some bullish action, but volume is not supporting. The currency could make a major move in the coming few hours and the possibility is that the currency will backtrack toward the moving average line and try to gain control over it. As the other thing is that every currency in the market is influenced by Bitcoin. 

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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