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After reaching $364.77 last month, the altcoin, Ethereum, experienced a massive selloff. With the Cryptocurrency struggling to climb again, Ethereum's price is now at $217.14, seeing a fall of a total $147.63.
Investors are actually thinking that this specific crypto asset will not gain more than the aforementioned price.
This price movement dictates that one can $1,476.30 should he or she trades 1 lot or 10 Ethereum coins.
However, just days ago, analysts observed that the cryptocurrency might just be already entering a recovery phase after July's dry spell.
They concur that August actually begun in a good note for Ethereum. On top of that, the Ethereum trading community is eagerly awaiting Ethereum 2.0 as forecasts agree that it should improve scalability features and solve present network issues.
Analysts carry their supposition further by saying that Ethereum might just have lifted itself up from the bear phase. To note, they are in agreement that the altcoin had always been able to work through times of bear phases with its strong fundamentals. It is expected that it would get stronger, reach a bullish state and get around a target price of $500 by the end of 2019.
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