Here Why The Ethereum Bull Run Isn’t Over Despite The 6% Dip In The Price Of ETH, The Bulls Are Preparing For A Rally

The cryptocurrency market spent the last few weeks enjoying bullish pressure. Tokens were reaching new yearly highs as Bitcoin’s dominance in the market increased. Ethereum wasn’t left out. Even if the largest altcoin came late to the bull run, it has made a lot of progress since it started. The price of Ethereum was able to surge above the $200 level which it has been struggling to reach for months. It moved higher setting sights at $300 before the market wide correction started. While expected, the downside correction was still the bloodiest in recent time. According to an Ethereum price prediction and Ethereum price analysis on, the Ethereum bull run isn’t over yet. There is still a high chance that the bulls will return to the market with full force. This would be the core of our Ethereum news today.

Ethereum price Prediction 2019 – Ethereum Price Analysis – Ethereum News Today – Ethereum Takes A Dip But It’s Not Yet Over

During the cryptocurrency bull run, the price of Ethereum surged as high as $274 against the USD before it found resistance and pulled back. It is important to note that a pull back is normal after a surge in price. It’s the best way for the bulls gather momentum to push harder and higher. Right now, the price of Ethereum is hovering above the 20 day EMA. If it is not able to hold its ground at this level, there is a high chance that the price of Ethereum will fall to the $210 level near-term. If a breakout occurs, the price of Ethereum will move as high as $279 before meeting any resistance.

It is important to note that the trading volume has been steady over the last 30 days. However, as the sell-off started, the trading volume was at $7 billion. The buy support for Ethereum is average as orders stretch out through a 10% from the highest bidding price. This allows traders to identify fake price actions or attempts at manipulation. All the technicals prove that the price of Ethereum is still bullish even with the current dip in red.

Ethereum Price Prediction 2019 – Ethereum News Today – ADA News Today – Current Price Of Ethereum

At the time of writing, the price of Ethereum was $235.69. It is up by 6.26% against the USD and up by 3.32% against the price of BTC. The trading volume over a 24 hour period is $17,226,478,562 and the market capitalization is $25,007,665,312. The truth is that even after falling by almost 90% from its all-time high during the cryptocurrency winter, the price of Ethereum has done well these past few months. It has bounced back from last year’s low of about $83.

The Ethereum price prediction 2019 is bullish because Ethereum is still the foremost decentralised computer in the world. Even if many competitors have sprung up in recent time, Ethereum still dominates the decentralised app and smart contract world. With the upcoming Serenity upgrade (Ethereum 2.0), there is no telling how efficient the Ethereum blockchain will become or what effect this will have on the price.

What do you think about the Ethereum price prediction 2019 and current price of Ethereum in our Ethereum news today? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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