Ether (ETH), one of the leading digital coins, has just shot past three hundred dollars ($300) in value today reaching a high not seen in many months.
Ether is one of the largest cryptocurrencies in the market right now, second only to Bitcoin itself. The coin’s market capitalization began to soar at around 01:10 UTC, while the price expanding the gains it made, reaching three hundred and six dollars ($306), a height seen only in the August of 2018.
As of this report’s release, ETH is floating just close to three hundred and five dollars ($305), giving it a nine point seven percent (9.7 %) gain within a day’s period.
An analyst noted: ” The 50- and 100-candle price averages on the three-day chart have produced a bullish crossover for the first time since in two years. It is worth noting that prices had rallied by more than 900 percent in three months following the confirmation of the bull cross in May 2017.”
The coin has seen its value soar to new heights this year, currently recording a robust 260 percent spike from the low point it had touched in December.
Predictions from analysts place Ether on a strong upward trajectory for the time to come, while the charts reflect a more bullish trend in the market.
The candle price averages taken on the three day chart project a bullish quality for the coin in its very first time in over a year and a half. Price values had boomed by close to 900 percent in couple months after the so called ‘bull cross’ that had set upon the market in the May of 2017.
The event confirms a prediction cast by market analysts in recent days over the leading crypto coin’s market domination.
Based on this data and the coin’s own price movements in the past, it looks to reach a new high of three hundred and sixty four dollars ($364) in the following few months or so.