ETH is a token of the platform Ethereum. Its current price is around $1,259.50 at the time of writing, with a low of $896.11, and it has a market cap of 154 billion dollars.
What is Ethereum (ETH)?
ETH is the coin of the Ethereum platform, which is around $1,259.50 at the time of writing, with a low of $896.11. It reached a high of $4,482.31, and its current ranking is #2, according to CoinMarketCap, with a market cap of 154 billion dollars.
Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Participants in Ethereum, such as validators, can earn ETH for their contributions.
ETH Coin Market Analysis
ETH has a total supply of 122,373,866 coins worth around $1,259.50 with a market volume of 6 billion dollars, whereas the market capitalization is 154 billion dollars at writing. Despite a tick upward today, bears are trying to seize the initiative and break the $1,300. If it falls below this level, the buyers will likely not extend their gains further up.
Ether is up on average, about 20% from the last three weeks since it made a double bottom in the $1,080 area. But ETH is still recovering from losses caused by the FTX collapse. Now that it’s December and investors are starting to talk about “Santa rallies”, people hoping for a recovery in risk assets will be watching Ethereum to see if it manages to do so.
ETH Crypto Price Prediction
In the 4H timeframe, the price action of $ETH/USDT is trying to break its horizontal resistance zone. Currently, the price is getting rejected from the strong horizontal resistance zone. A downward movement is expected from here.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Research before investing.
