Market Analysis

Ethereum [ETH] up by 11%; recovers from fall to $99 support

from Amb Crypto 5 years ago 0 0 653

After facing a staggering low on Tuesday, Ethereum [ETH] picked its pieces on Wednesday and showed a significant growth. The coin was up by 11% in the past 24 hours, at the time of press. However, it plunged to 14% in the seven-day time frame.

The coin gained momentum by the end of Tuesday and was valued at $106, with a market cap of $11 billion and a 24-hour trade volume at $2 billion.

The cryptocurrency kept fluctuating throughout the day but did not come in close quarters with the support lines like it did on the previous day. At the time of press, the coin was valued at $116.93, with a market cap of $12 billion and a 24-hour trade volume of $2 billion.

The maximum trading volume was registered by DOBI trade, on the ETH/BTC trading pair. The second in the line was Right BTC, with the ETH/BTC trading pair. DOBI trade registered a 24-hour trade volume of $179 million, while Right BTC registered a 24-hour trading volume of $100 million.

DOBI trade is followed by Right BTC, and OEX.

The cryptocurrency had dropped to $99 on Tuesday and recorded a loss of 24% in the past seven days. The fall came at a time when Tron’s Justin Sun had suggested a move to Tron to Ethereum developers. However, the token is picking up space and swiftly chasing the bull.