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ETH Hovers Near $171 After 12% Drop
The price of Ethereum is trading at $171.41 at 07:16 UTC on 2nd September 2019. In last five days, the ETH price was initially seen trading at $188 on 28th August at 15:10 UTC. The value then dropped by 12.18% on 29th August at 15:00 UTC with the trading price of $165.10. Ethereum price saw an escalation afterward of 5.78% by 31st August at 21:50 UTC which is now dropped again by 1.83% from then.
As of now, the ETH coin is trading below the baseline, which means the ideal trading decision might be ‘buying’ the ETH coins. However, Ethereum is a promising coin, and it might move in an actual roll soon.
Short-term Investment: Considering the short-term analysis, ETH price seems to be constantly dropping, and thus, it might not be a good time to restrict in the short-term investment as of now. However, when Ethereum price shifts to bullish, it might bring better opportunities in short-term investment.
Long-term Investment: Traders in the ETH from quite some time now might be facing a little crunch as of now. You might want to wait for some more time to enjoy the returns in the long-term.
While analyzing the price movement of Ethereum, the resistance and support levels might be of your interest:
Resistance Levels
R3: 177.88
R2: 175.79
R1: 173.71
Support Levels
S1: 169.54
S2: 167.45
S3: 165.37
To conclude, Ethereum has been attention-seeking coin. In no time, traders might earn some value in their patience, according to the recent Ethereum Price Forecast.
