Will Bears Continue to Dominate Ethereum Price?
- Ethereum price is still very much under the control of the bears as seen from the past 6-month price movement
Ethereum (ETH) price has not been able to bask in the glory of its popularity due to its dismal performance during this year. The 6-month price trend shows ETH price continues to perform below the baseline as the ongoing bearish sentiment in the crypto market is too strong to handle. The price of Ethereum has been fluctuating in the range between $173-$330.
Ethereum Price Analysis
ETH price continues to under-perform in the current bearish phase, as seen from the 6-month price trend. The price was at a low of $235.5297 on June 09. Next few days, the price showed a continual uptrend and pushed the price of Ethereum up to $333.40, the upswing being a good 41.63%. July brought about a bearish phase in the crypto market, and ETH price began to slide downwards after mid-July to $199.40, showing a downward movement of 39.55%.
Ethereum managed to go up at $230.21 showing the rise at 15.47%. The price continued to be below the baseline and reached $175.92 on September 06. There was some respite from the bears as the ETH price moved up to $219.78 on September 19. With the bears in full swing, the coin continued its downswing and reached $173.39 on November 21. The current day’s price of Ethereum is at $153.76, showing a downward movement to the extent of 11.32%.
ETH coin continues to be influenced by the bears and is putting up a poor performance. This trend is expected until the volatility persists in the crypto market. Experts, however, have faith in the future growth potential of Ethereum and expect it to come out of the bearish trend shortly.
Investors can only hold on to their investments in the ongoing bearish crypto market. Day traders can make gains by working on the speculative nature of the crypto market.