Last year, digital currency prices skyrocketed, but its fundamentals left much to be desired which inevitably lead to a sharp correction. Even though most digital currencies are now down by 50 percent, the fundamentals have on the other hand improved rapidly in 2018.
Ethereum (ETH) Price Today / USD
Every member of the digital token scene from banks to large businesses have been exploring vast options relating to Blockchain and crypto trading. Educational institutions, central banks, and even governments are also looking to partake.
There is Optimism Even though Prices Remain on The Decline
Even though there’s a lot of positives on the investment font prices have failed to find footing in recent weeks including that of Ether (ETH). Digital tokens continue to lose ground. The recent setback has been attributed to Japan’s Financial Regulator’s directive that digital exchanges should improve their security against money laundering. Some crypto experts expect cryptocurrency prices to improve after now, citing regulatory clarity and influx of institutional investors as significant indicators.
ETH/USD Long-term Price Analysis
Looking at the charts, you can see that the overall pattern for Ethereum (ETH) price movement is bearish. Ether’s (ETH) price has steadily fallen from 619.89 USD as at June 3, 2018, to as low as 471.70 USD as at the time of writing. The ETH/USD pair indicate a depreciation in value of close to 23.9 percent. The bearish pressure isn’t over either because the digital asset is likely going to fall to as low 380 USD before a possible recovery. Presently, Ethereum (ETH) continues to show a downward pattern.
The MACD point and signal pattern are even below the zero trendlines indicating a sell signal. Additionally, the 12-day EMA, as well as the 26-day EMA, is ahead of the price bars of the ETH/USD pair indicating that the bearish pressure is destined to continue. The strength index period indicates that the price of the digital token is in a sideways pattern.