Bears May Continue to Dominate Ethereum for Now
Let us compare the price of the ETH coin since the past three months. Ethereum was priced on June 03, 2019 at $270.87 at 22:00 UTC. Till about June 20, 2019, the movement of the ETH coin was almost at the same pace post which it started to rise upwards. On June 26, 2019, it rose as high as $356.95. However, Ethereum was not able to maintain its performance at this level and gradually started to recede. It fell as low as $197.48.
Ethereum Price Analysis:
By comparing the price of the Ethereum since the time it reached $356.95 and the current price, ETH indicates a bearish run by 50%.
As per past data and analysis, we predict that the same trend will continue for Ethereum and it may reach close to its next support level of $174 by the end of the day tomorrow. By the end of the year 2019, ETH may cross its 30-day high of $226.
As of now, trading on a short-term basis on the Ethereum may not be that effective and if you can retain the new coins for long-term, it will yield better returns. The MACD indicator also confirms that the movement at present is bearish for the ETH coin. Having said that, being the second-best currency, the coin will soon bounce back and manage to once again offer good returns to its investors.