Ethereum price analysis 16 May 2019; bears following bulls after $272 high

Ethereum price is now trading into a bear zone after a great high of two hundred and seventy dollars ($272) at one point. The bears quickly followed suit at that point, and the ETH price has now fallen down to the two hundred and fifties ($250s).

Recovery from any kind of loss is not easy, over the past, the prices of cryptocurrencies have declined, and the coins have struggled to maintain their momentum. Bitcoin has regained its lost momentum and strived hard to rise again, but not all coins have shown such a good comeback in no time.

Ehereum has also tried hard for attaining good position again on the price chart. Ethereum has a lot of struggle and has secured the second position on the list of top five cryptocurrencies.

Ethereum price analysis 16 May 2019; bears following bulls after $272 high 2Ethereum ETH price chart created with Trading View

The four-hour analysis reveals that the price has a lower level support of two hundred and fifty-one dollars ($251.67).

On the other hand, Ethereum price moving average and simple moving average analysis show that that currency is finding support at two hundred and sixty-two ($262.78) dollars.

Ethereum price analysis 16 May 2019; bears following bulls after $272 high 3Ethereum ETH chart created with Trading View

On the other hand, analysis of trading of the 1-day chart of Ethereum has revealed that the Ethereum price has not maintained any good support or resistance level so far.

Furthermore, ETH price seems to be determined to gain its lost value after the decline of the whole crypto-market in the past.

Currently, the coin is trading at two hundred and fifty-eight dollars ($258.99), and this value shows over eighteen percent 18.1% increase in the value of past 24-hours.

This is the right time for the investors to invest in this segment as the market is bullish for the Ethereum and is striving to gain stability on the price chart.

The trading volume is estimated to be soaring at over fifteen billion dollars ($15.116bn), and the market cap is found to be about twenty-seven and a half billion dollars ($24.4bn) approximately.

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