After Ethereum’s price crash it seems that all concerns disappeared. The price of Ethereum is back in great shape. Ether dropped yesterday to $160. Meantime, just 24 hours later, Ether is trading at $190.
Since yesterday’s bottom the price of Ethereum has risen almost 20 percent. That is as impressive as the decline of last Friday.
InvestingHaven’s research team wrote a great piece about the price drop of Ethereum. Their conclusion was that it was a flash crash, similar to some others we have seen earlier this year. Moreover, the stock market has seen many flash crashes in recent years and decades, so there is really nothing exceptional.
The key thing to watch after a price drop is how fast prices recover. The price of Ethereum may have dropped to $120 but the recovery was very quick, suggesting there is enough buying at lower prices. That is a recipe for … higher Ethereum prices.
Today’s trading will close around $190, and that is a great Ethereum price. It shows that Ethereum is in a great bull market. It is matter of time until we will see new all-time highs in Ethereum.