The popular coin Ethereum’s ether token is making news in the crypto speculation market as many are expecting that soon it will be touching its highest Priceline so far. While there is a lot going on everywhere in the crypto world, these speculations are stemming from the last week’s price charts where the prices have been soaring for this token. Moreover, Weiss Rating based out of Florida, not surprisingly gave a higher rating to Ethereum’s ether token even more than the two most popular currencies legendary Bitcoin and Ripple’s XRP. This is confirmed by OnChainFX.Till yesterday, ether (ETH) was being traded at $1,211 on popular coin exchanges.
While the prices went steeply downwards and reached a $905 low last week it has recovered significantly this week. The ups and lows are understandable with prices highest in last 12 days, on CoinBase’s Gdax exchange it was changing hands at $1,224. Also, a coupled effect was witnessed on CoinMarketCap where the 12 percent up in price was followed by a 78 percent increase in trading volumes as well. This is a clear indicator of the fact that the prices in the market are going to remain bullish and that’s what is dictating the market at least for now.
The prices on the South Korean exchanges which were actually discarded in the calculation of a global average by CoinMarketcap in January without any clarification or announcement and which had led to a considerable drop in the global prices; but then now once again they are included and are being used to calculate a global average. The inclusion of these prices is unusual, but then it has its own effects as well. The higher prices in Korean exchanges will influence the calculation of global average and they the prices will go up further.
For example, it is also being said and which seems obvious is that because the prices in South Korea is still more or less $70 higher than that for which Ether token is being traded on European and American exchanges and these prices could really affect the calculations of a global average. As this higher price on Korean exchanges has dropped significantly this may be one of the reasons behind the rise in the price of the alternative currency in past few days. Thus many have concluded that the price increase is as real as the rising sun and are expecting this coin to get to record highs which would be around and above $1400. However, there is not much substance in it, and it could be that all of these are temporary changes and that the real or any convincing and true account is yet to be understood.
The everyday chart
This chart has the prices according to the popular site coinbase and shows that:
- The Ethereum’s ether coin went as low as $927.29
- The higher the patterns that depict low which can be clearly seen in the rising are a good enough reason to believe that they are in a better position and it indicates that the soaring price conditioning is comparatively true and real.
- On Sunday, as could be seen as well, Ethereum token currency closed for much higher than $1,166.
- The 5 days market analysis and a 10-day market analysis clearly shows that the trend is for north side and that makes it bullish which means that the prices will be going higher according to the data
While the ups and downs are a part and parcel of the game speculation and predictions are another level. The Ethereum’s ether is already much popular, and if it goes to an all-time high of $1400, it is rather a good news indeed.