All the spotlights in the last few weeks have been pointing to Bitcoin and its Bull Run. Ethereum has been a little bit out of the attention of the mainstream media throughout that time. Although we can be expecting a great positive run upon the price of ETH, especially if a major correction does not happen soon.
ETH 2019 Record
Ethereum reached its highest price of the year by hitting the $288 mark. This is a record that ETH did not reach for more than 9 months. Last time we saw Ethereum over the $300 price level was in August of 2018.
We could find the daily volume now being higher than it was at the peak of January 2018. But there is actually a reason for this since the market is different nowadays. Now we have traders and investors stockpiling Ethereum when in January 2018 we had a big number of companies conducting ICOs instead.
Re-balance of the markets needs to be done, and that’s the reason why we saw Bitcoin going up to $9000 and falling back again. Although some analysts say that if this correction does not reach Ethereum the price will easily go over the $400.
Bulls beware, it might almost be time to be a bear 🐻 I will not short this, but I will take partial profits on a portion of spot ETH longs that I picked up sub $200. If this doesn’t play out, we are headed straight to $350 and then $400. pic.twitter.com/Et1yCvBcpn
— Credible Crypto (@CredibleCrypto) May 30, 2019
According to this chart and the words of “Credible Crypto”, probably we could see Ethereum price going down a bit more and staying closer to the $200 margin. But, at the same time he also refers to “If this doesn’t play out, we are headed straight to $350 and then $400.” Meaning that if the correction does not hit Ethereum as it did to Bitcoin, instead of the downfall until the $200 we might see ETH price start going up again until the $400 price point.
Which, curiously, happened in June of 2017.
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