Currently, the market wave of Etherum shows an upward movement with a support level of $770. ETH was able to show its all-time high in the recent months. But the price had severely declined from $712 to $688 in the last week. Ethereum managed to drop to 47% in total, causing it to trade in the red with severe losses as a clear consequence. ETH began its day with 682.03 per one Ethereum and at the time of writing its price is 682.03 USD.
ETH began the new year on a solid note, rising to a record high of $1,432 on13 January 2018. Prices fell below $500 on March 18 after the SEC confirmed it is investigating “dozens” of ICOs. Over the last 24 hours, the ETH again faced a drop. On May 17, 2018, ETH was trading at $675.02. It was above $700 in the previous week, but it declined and gone below.
ETH Price Analysis
The ETH has traded below than 500 USD in the previous month which breaks the hope of investors. But the coin has begun the November 2018 with a reasonable price that is 668.52 USD on May 2. Then it had risen to 770.15 USD on May 4 which was the highest price in this month. But on the next day onwards it again began to decline and has gone down below $680. The ETH trade today with a price of $694.37 which is 2.76% hike compared to the previous day.
ETH Price Prediction for November 2018
We have seen that the ETH is moving Up and Down each day it will not be easy to predict whether it will gain in this year or not. Even though most of the coins had shown fluctuation at the end of 2017 and the beginning of this year, 2018 is considered to be THE YEAR of cryptocurrencies. The drop had helped the investors to control the trade and some to buy coin as it dropped. It has been predicted that the primary support level will be $670 and the major resistance level is said to be $712.
Many cryptocurrency investors are confused about the real potential of Ethereum. Sure it will see some drops from time to time. But in the upcoming months, we can expect a surge in its price which will make the coin more attractive one in the market. When we analyze the price of the Ethereum, we can realize that it has increased in value by 1000% in the last 12 months.