Ethereum’s price has the upside potential to surge to $600 within the next few trading sessions. This would be encouraging to traders considering that there hasn’t been a lot of positive vibe in the market for the past few weeks.
If Ethereum is able to rise to $600 once again, the entire cryptocurrency market will be relieved after a difficult week of trading.
Hope After a Price Struggle
Ethereum isn’t the only cryptocurrency in the industry that is struggling to stay on the upside with difficulty. Other cryptocurrencies have had their fair share of price struggle within the past few weeks. However, Ether suffered the most significant drop falling from $600 to $513 within 48 hours of trading. This caused a lot of concern in the cryptoverse about the future of Ethereum as such volatile swings aren’t common.
Today, Ether has managed to take an upward swing to $591.5 and may keep rising to $600. Irrespective of this ETH/USD improvement, there was no change in the Ether to Bitcoin trading ratio. This means that when compared to Bitcoin, Ethereum has neither lost or gained any value.
There is a lot of buy and sell demand for Ether at its current value. The Bulls are currently gaining control of the market, and if they are able to keep this control, Ether will see a surge to $600 and more within the weekend.
The exchange recording the highest trade volume of Ether is Bitfinex, as expected. Bitfinex is followed by Binance and OKEx.
Currently, no one knows how the cryptocurrency market will change over the weekend. However, all signals indicate that the price of Ethereum is most likely going to reach $600 before the end of today or by tomorrow’s trading session. Whether or not Ether will be able to maintain the gains is still not clear, but it is almost certainly going to get to that level.