Ethereum is the second most famous digital currency in the market. The cryptocurrency ranks second in exchange markets. OnChainFX states that Ethereum is growing in value by 18 percent on a weekly basis. Within a 12-day period, Ethereum’s prices have risen from 905 dollars to 1211 dollars on the Coinbase’s GDAX exchange. Weiss Ratings rated Ethereum higher than Ripple’s XRP and Bitcoin.
CoinMarketCap illustrates that seemingly bigger players boosted trading volumes by 78 percent. South Korean exchanges are factored in averaging ETH prices globally. South Korea’s ETH prices bear a $70 premium above those on the Western market. Coinbase chart prices predict a rise of ETH to $1,400 when there is a bull-run. The Fibonacci retracement of 61.8 percent exhibit a resumption of the bull run. Therefore, the current ETH price of $1150, is just temporary and shall come to pass.
Price charts imply that the ether token of Ethereum cryptocurrency may rise in value very soon. ETH ranked low at $927.29 from July to January, with the Fibonacci retracement being at 38.2 percent. During the sell-off on January 17, ETH closed at $1166, at 68.5 percent. The fluctuating prices indicate the dominance of the bulls.