RATE Group | Ethereum price weekly analysis: consolidation after a big month
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Ethereum price weekly analysis: consolidation after a big month

01 May Ethereum price weekly analysis: consolidation after a big month

Posted at 03:53h in Ethereum News by

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A strong month of growth for ETH is capped off by a week of falls.

Key takeaways

  • Price is below USD$650 after punching through $700 last week
  • Trading volumes are steady after a frenzied period
  • Market capitalisation sits at around $64B after sneaking over $69B

It’s a new month and ETH continues its overall upward trajectory although there are some hiccups along the way.

Throughout ANZAC Day, Ethereum managed to cross over the $700 barrier before increased trading volumes the next day saw the price plummet to just $600 according to data from Coinmarketcap. That fall was accompanied by a jump in trading volumes to around $4.4B before settling back to around the $2.8B level as the price slowly recovered to around $680 to $690, where it sat for until suffering a drop to below $640 earlier today.

Source: CoinMarketCap

The big question to ask about Ethereum is whether the trend that started a month ago is the one to pay attention…

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