Home > News > Ether price (ETH/USD) pulls back from Sunday highs, as rebound stalls

Ether price (ETH/USD) pulls back from Sunday highs, as rebound stalls

Benson Toti

The Ether price (ETH/USD) has been experiencing major fluctuations in recent trading, swinging between gains and losses.

The second-largest digital currency on the market experienced mixed trading over the weekend. The digital coin suffered a steep price drop on Saturday, falling to a 13-day low of $203.79. The coin closed the session at $206.73, well below its opening level of $210.53.

ETH’s performance improved significantly on Sunday, especially in the afternoon, when the coin managed to retake the $210 mark. Ether rose to as high as $216.60, before closing at $216.09.

However, the Monday session has seen another shift in Ether’s performance, as the coin has been back on the defensive since the start of the session. Still, despite suffering a major pull-back from yesterday’s highs, ETH has so far managed to defend the $210 mark. At the time of writing, the Ether price was hovering around the $212mark, according to data from digital currency tracker Coinmarketcap.

So far this year, Ether has performed strongly, as its price has increased some 60% since January 1. However, the coin is still well below its all-time high of $1,432.88, which was recorded in January, 2018. The massive pull-back from those highs was part of the prolonged bear market that dominated the crypto space throughout the rest of 2018.

A recent Twitter poll conducted by An Altcoin Trader’s Handbook author Nik Patel showed that many traders are still optimistic about Ether’s chances of returning to those levels. As noted by industry website Cointelegraph, some 54% of respondents answered that Ether would once again trade above $1,000. Meanwhile, 34% responded that the digital coin will never again reach the $1,000 mark.

In today’s trading, the Ether price stood at $212.86, as of 17:15 BST. The digital currency has gained 0.4% in the past 24 hours. Its total market cap currently stands at $22.8 billion.

Featured image: Sergey Nivens / Shutterstock.com

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