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Ethereum price saw an upwards tick yesterday with the cryptocurrency rising from $820 to $890 before falling down to $875. Currently the crypto is trading at $869, with all the possibility of surging again.
The current pricing brings ethereum to where it was a week back and while there have been movements, the overall effect gives and indication of stability.
Yesterday’s price surge shows us a good picture of highs and lows, but if we zoom out a bit it’s more of an up and down in a straight line. That’s because the market is consolidating and doesn’t really know what to do. One minute it likes $900, the other minute it wants $800. This enabled traders to buy at $800 and cash-in at $900.
Bitcoin, Ripple and other cryptocurrencies have also more or less the same trend; however, trading volumes are slightly rising. The current phase is a slow one and confusing for both bulls and bears as neither one of them are sure of what to do as the market is more or less stable.
Eventually there will be an upward or downward movement and once that happens everyone will be pulling off their play and doing their part. Each of the cryptocurrencies have exhibited such a trend and eth isn’t being much different really. As soon as bulls get happy for 20 minutes we get bears out to play straight away with their ping pong paddles ready.
So off to real news because nothing is happening here, but maybe soon-ish something will happen after breakouts are called for the thousandth time. Just… no poking with a stick.
