The price of Ethereum (ETH) appears to be on an upward trajectory.
Low volatility could also indicate that ETH is more stable than other cryptocurrencies
As the crypto markets continue to reach new heights, the price of Ethereum (ETH) appears to be on an upward trajectory and is showing signs of a massive surge in the near future. This is according to a recent analysis by an experienced analyst, who notes that the cryptocurrency’s volatility has dropped to extreme lows, indicating that it may be primed for a bullish breakout.
Mohit pointed out that ETH’s volatility rate – which measures the rate at which its price is changing over time – has been steadily declining over the past few months. This suggests that Ethereum could soon experience a significant surge in value as traders start to move their money into the coin.
Additionally, this low volatility could also indicate that ETH is more stable than other cryptocurrencies and might be less prone to drastic fluctuations in its price.
Furthermore, the analyst noted that Ethereum has been exhibiting signs of strength despite recent market trends, as it has managed to retain most of its gains even during times when Bitcoin and other cryptocurrencies.
Butazu Capital Co-founder’s Suggestion on ETH Price Surge
Cryptocurrency analyst Mohit Sorout, the co-founder of Bitazu Capital, recently commented that a major surge in Ethereum’s (ETH) price could be imminent.
According to Sorout, the cryptocurrency’s volatility has dropped to extremely low levels – lower than usual – which means that for it to mean-revert back to higher levels, the price would need to go up.
Ethereum currently has a market capitalization of an impressive $207 billion, according to data provided by CoinMarketCap. However, its price performance over the past seven days has been relatively lackluster, with only minor fluctuations between the $1,500 and $1,700 range.
Despite this stagnation in Ethereum’s value, Sorout believes that a dramatic surge may be on the horizon as the cryptocurrency’s extremely low volatility suggests the potential for a reversal in fortunes.