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Ethereum balances at $2k.
Despite the small rebound in the cryptocurrency market, investors are still evaluating the prospects of certain digital assets, which means that Ethereum’s rise may not be guaranteed to follow if bitcoin becomes more expensive. For now, the two are moving in tandem, with bitcoin rising to $30,200 (+2.6%) and Ethereum rising 3.5% to $2,085,000 in early May 16.
If the digital asset goes below $2k, then it could lose 25% and test values around $1.5k. An important level that Ethereum is desirable not to lose in terms of technical analysis is the value of the dynamic average of the last 200 days, which is now at $1.6k. In case of resumption of growth, Ethereum price can grow up to 3 thousand dollars in the foreseeable future.
Meanwhile, Ethereum’s hash rate reached an all-time high of 127 Ph/s on block #14770231 last week, May 13. Since the end of June last year, this figure has increased by 124.33%, and if we consider the period since mid-March 2019, the hash rate has increased 7.25 times. Ethereum mining attracts investors.
For example, the A11 Pro mining machine from Innosilicon with a capacity of 1,500 Mh/s at the current price of Ethereum generates an average daily revenue (gross) of $36.66. There are currently over 80 mining pools in the Ethereum mining space, of which the largest are Ethermine, F2Pool and Poolin.
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