THE ETHEREUM PRICE MOMENTUM REMAINS IN PLACE
When a specific cryptocurrency surges in value in quick secession, there is an authentic expectation of how the momentum will turn bearish again within the near future. At the Ethereum price, that bearish momentum has not appeared yet, as the value essentially keeps going up for a long time. It is a common trend even though one that may warrant a brief Ethereum price correction soon.
In the course of recent hours, the Ethereum price has surged by another 11.67%. Despite the fact that Bitcoin and other top cryptocurrencies are taking note of solid gains also, It is obvious Ethereum is doing better. This expansion viably pushed the Ethereum price above $800 once more, though it is normal that there will be a fair bit of resistance at this level all through the rest of the day and possibly the end of the week too.
It is intriguing to take note of how Ethereum keeps on benefiting on Bitcoin without much work being done. Thanks to another 5.31% expansion in the ETH/BTC ratio, one Ether is currently valued at 0.082 BTC once more. It has been long since the ETH/BC looked so healthy, in spite of the fact that it is still removed from the 0.15 BTC ratio we saw in ending of last year. Regardless of whether such a ratio can be accomplished again sooner or later all through 2018 but stays vague at this point.
Ethereum has no lack of trading volume at this moment. With over $4.03bn in 24-hour trading volume, the interest for Ether hasn’t backed off in the scarcest. Despite the fact that the volume could still be a lot high moving higher, the present trend looks encouraging for Ethereum. If this demand keeps up, maintaining an Ethereum price of $800 shouldn’t be an issue.
Bitfinex has retaken control of the Ethereum trading volume, which isn’t really astonishing. Binance comes in second place, with a small lead over Huobi. Binance’s and OKEx’s USDT pairs finish the top five, which makes for a intriguing list in general. While there is just a single fiat currency pair in the top five, there is apparently nothing to be worried about at this moment.
Regardless of whether the Ethereum price momentum will remain strongly in place, is extremely hard to anticipate. The previous week and a half have been extremely bullish as of now, and nothing can go up in value forever. All things considered, there are expectations of how the Ethereum price will hit $15,000 before the ending of the year. At this moment, that appears to be exceptionally unlikely, despite the fact that cryptocurrency is an insane market above all.