A lot of eyes are still on the top cryptocurrencies and digital assets ranked by market cap. It would appear none of these markets will budge much unless Bitcoin goes through a major bull run. Even though Ethereum is slated to undergo a big network upgrade soon, most traders are not even excited for it, by the look of things. As such, the value per ETH remains relatively low, but that is to be expected over the weekend.
Ethereum Price Slump Continues
It is always interesting to see how cryptocurrency markets tend to evolve when the going gets tough.
Although it was somewhat to be expected, today isn’t off to a good start for the cryptocurrency markets. Everything has gone in the deep red due to a rather bearish one-hour chart. Sustaining uptrends has proven difficult in this industry for some time now. The Ethereum price knows this all too well, as it has dropped below $140 once again and may continue to drop lower.
Steep Ethereum Price Drop Materializes
After what seemed to be a somewhat promising start to the year 2019, the cryptocurrency markets have come under severe bearish pressure once again.
After enjoying a rather positive wave of momentum it seems the Ethereum price action is stuck in sideways momentum again. Despite a minor gain in USD value, the losses in ETH/BTC are piling up fairly quickly. This has some users concerned, even though it seems no real changes should be expected prior to the upcoming Constantinople hard fork.
Ethereum Price Trend Stalls
A lot of Ethereum enthusiasts are looking forward to the upcoming Constantinople network upgrade.
The top cryptocurrencies ranked by market cap often evolve in rather unusual ways. There has been a strong focus on the Ethereum price as of late, which is only to be expected. Since successfully reclaiming the $2 spot on Coinmarketcap, expectations for the Ethereum price turned bullish again.
Ethereum Price Flashes in the Green
Considering how all of the top cryptocurrencies suffer from bearish pressure right now, one wouldn’t expect Ethereum to note any real gains.
After one and a half months trailing XRP as the most valuable altcoin, Ethereum has finally returned to its position. Ethereum lost the position on November 15, which coincided with the Bitcoin Cash hard fork. However, a major bull rally in the past four days has helped the currency eclipse XRP again, with a margin of $500,000. The currency has also hit the very critical $150 level again, for the first time since Christmas Eve.
The market has rebounded in the past two hours, gaining $10 billion in the process. The comeback is led by Ethereum and Bitcoin Cash, both of whom have gained 13 percent. Ethereum was trading at $136 at press time, bouncing back from $117 registered just three hours earlier. Its trading volume also saw a remarkable 24 percent gain to hit $3.1 billion.
Bitcoin also registered a gain, raking up 6 percent to trade at $3,953. Despite the gain, the currency is yet to recover its Christmas eve drop.
It’s the season of joy all over the world, and the crypto industry is just as radiant. The market is swimming in green, with XRP and Ethereum leading the pack. The two gained 18 and 20 percent respectively in the past 24 hours, with Stellar and TRON each gaining 10 percent. Bitcoin rallied to hit $4,263 and despite a slight recession to $4,185, the currency has shot back to $4,200 at press time.
While Bitcoin is bouncing back, a new report has indicated that Wall Street giants haven’t had much luck with crypto.
When all cryptocurrencies go in the green on a Sunday morning, it almost seems as if something is amiss. Such a sight is very unusual in this industry, regardless of what the overall momentum has shown throughout the week. For Ethereum, it seems the push to overtake XRP in market cap is in full effect once again.
Ethereum Price Uptrend is Spectacular
While it is only normal there would be a sort of revival after yesterday’s brief dip, few people expected things to grow this spectacular in quick succession.
The weekend usually offers some rather inverse cryptocurrency market momentum. Whereas last week was mainly about currencies gaining value, the weekend looks a bit bleak in this regard. One interesting market trend comes in the form of Ethereum. It suffers minor USD losses, yet gains a fair bit of value on Bitcoin. As such, everything seems to be going according to plan.
Ethereum Price Does its own Thing
No one will deny this weekend is not shaping up as most people would have liked to see.
Ether is slightly moving down on Friday, Dec 21, trading at $117.18, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
Technically, an upward correction is coming. Previously, the price made a new low, although not a key one, then it converged and broke out the previous descending channel resistance.
Now that all cryptocurrency markets are slowly moving to higher values not seen for over a month, interesting things will happen sooner or later. In the case of the Ethereum price, there have been very solid gains over the past few days across the board. As such, the Ethereum price has now risen to nearly $110 again, which is rather interesting to keep an eye on.
Ethereum Price Uptrend Continues
No one will be surprised to learn the rise in Bitcoin’s value is also doing wonders for all altcoins and digital assets.
To gauge the overall cryptocurrency market sentiment, most people look to the top currencies ranked by market cap. As of right now, none of those markets look too appealing. In the case of Ethereum, the price continues to fall at a very rapid pace. As this currency is now valued at under $87 per ETH, one has to wonder how dire things will get over the coming weeks.
Ethereum Price Onslaught Isn’t Pretty
It has been another rough week for all cryptocurrencies and digital assets, which was only to be expected.
It has been a very difficult year for Bitcoin and all other cryptocurrencies. Ethereum, while once considered a rival to Bitcoin’s market cap, has lost over 90% of its all-time high as well. The uptrend still hasn’t materialized, albeit there is a lot of hope for the upcoming Constantinople hard fork. Assuming that doesn’t get delayed again, some cautious optimism may be warranted.
Ethereum Price Outlook Remains Rather Bleak
It is only natural all cryptocurrencies and digital assets follow Bitcoin’s momentum first and foremost.
Just a day after it hit a record low for the year, Bitcoin has rebounded to reclaim the $3,400 level. The currency gained 4.5 percent to trade at $3,432 just hours after it hit lows of $3,280 on some markets like Coinbase Pro and Bitstamp. At press time, Bitcoin had hit the all-important support level of $3,500 on some markets like HitBTC, Allcoin and Fatbtc. The other currencies had registered gains as well, with Ethereum gaining 6 percent to trade at $91 while its fork, Ethereum Classic, had recovered 7.
Bitcoin is down 10 percent in the past 24 hours and has set a new low for the year. The currency has been struggling to stay above $4,000, but it looks like the bears have the upper hand, at least in the short term. The currency slumped below $3,400 on most markets overnight and has since then looked increasingly likely to head to $3,000. At press time, Bitcoin was trading at $3,377 on BitMEX, Coinbase Pro and Kraken.
The rest of the market has also been heavily battered, with Ethereum trading at $86, Stellar down 17 percent to $0.
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