Ethereum Price Preparing for More Gain: Where is the Top?

7,446

Ethereum price reached its record value again $1,400. What does ETH/USD hold next for us!

Important to Note:

  • Very speedy and spiky recovery by Ethereum price since Jan 10 as it did reach $1,400 for the first time.
  • Two supportive trend lines formed on the hourly chart of the pair ETH/USD hoisting the price up even against [per time of writing] massive sellers.
  • Investor confidence in Ethereum driven to new highs after 5% increase in market dominance.

Ethereum Token Value Development

Being the figure of a dominator in the previous days throughout the market, Ethereum price has been held very high by enthusiasts and investors which do no want this train to go flying. ETH started the week trading just above US$1,046.31 on 06 January 2018 dropping two days later marginally below to US$1,016.65. The dip was short lived and ETH showed strong resilience in face of market turbulence rising to a weekly high of US$1430.81

ethereum analysis

Source: coinmarketcap

Upon facing offers, the pair ETH/USD was tanked downwards to the lows of $1,100 around Jan 12. However, in just two days, the token value increased more than $300 in price with 7.48 percent gain only in the last 24-hours. Despite that a descending pattern is taking place per-time of writing which followed up as Ethereum price retested the latest record high, its gaining trend is still on tact and supports have not been cleared.

A 5% increase of market dominance is a truly significant indicator and should give most investors a good deal of confidence in ETH at this stage of its development.

Trade safe traders and do not overtrade!

Comments