Ethereum price hikes to $345, Highest after Q3 2018

Ethereum witnesses a constant rise in its price due to the fast-growing ETH market. Ether is now trading above the $ 345 resistance level.

By · Aug 1, 2020 . 5min read

Ethereum price

In current days, Ethereum has encountered a constant rise in its price as crypto traders; global investors hasten to have a stake at the fast-growing ETH market. Also, ETH Miners just lately broke its revenue income since Q3 2018. Data from CoinMarketCap noted that Ether is now trading above the $ 345 resistance level at the time of this report, its market capitalization currently stands at $39.77 billion.

Ethereum price
Source – CoinMarketCap

Tracking the Rise in Price

Insights on the price levels of Ethereum after it broke out of its long $200-$250 daily range was reported earlier. It was further added that it was time to revisit the ETH historical model that represented the number of times a daily close transition has happened within psychological support levels.

A close above $300 shares its 42nd occurrence of the price closing above or below it. Meantime, ETH miners are having a field day, registering the highest revenue levels (in USD) since Q3 2018. The percentage of the revenue that recently comes from fees is in a league of its own. The average is between April 2018-2019 and was 3%.

22.2% of Ethereum miner revenue occured from transaction fees in July. This is the highest monthly value in ETH history and is a continuation of the upward trend in the past three months. Ethereum is a decentralized system, completely independent without central authorization. Its platform is connected to thousands of its users by their computing systems across the globe, which indicates it’s almost improbable for Ethereum to go offline.

Like with many other crypto assets, trading with Ethereum can be extremely profitable and has had a good history of providing its investors huge returns. Nonetheless, there are also many other alternatives to make income from Ethereum. These options incorporate Ethereum faucets, Ethereum mining, and ETH staking.

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