Categories: Altcoins

Ethereum Continues Trading Under Bear Pressure Since Last Month

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Ethereum (ETH) has faced a lot of price variations due to the market pressure in the last month. It had managed to rally well, but in the mid-July, the bears turned the tide for ETH coin, and the price began to be under bear pressure. Ethereum price is trying very hard to stabilize and consolidate their position, but the bearish pressure is pushing the price below the baseline. The price of the Ethereum is trading in the range of $170 – $216.

Ethereum Price Analysis

ETH coin has been trying to consolidate its price. The price was at a high of $216.593 on August 11. It then fell to $177.418 on August 15 to the tune of 18.45%. Then, in the next 4 days, on August 19, the Ethereum price rallied to 201.824 to the extent of 13.84%. On August 28, the price of ETH coin was at a low of $171.355 to the extent of 15.02%. In the next five days, the price was at $180.527; upward movement is to the extent of 5.62%. However, on September 06, ETH price had again fallen to the extent of 5.34% at $170.889. Today, Ethereum is trading at $178.532 which is higher to the tune of 4.47%.

The bear sentiment is still looming large in the market and has affected the market capitalization of most altcoins, including ETH. Still, analysts are confident on the coin looking at its past history and future potential and feel the year-end would help Ethereum price to bounce back.

Ethereum Price Chart

Investors can play a wait and watch strategy and hold on to their current investments as the market is still under a lot of uncertainty. Day traders can study the volatility and can still gain.

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