The Ethereum price (ETH/USD) has been able to comfortably defend the $200 mark over the past few sessions, but its recovery rally has started to show signs of slowing down.
The second-largest digital currency on the market has enjoyed some solid trading over the weekend, which has helped it to establish a somewhat stable position above $200. The digital coin, which hit a 14-month low of $170.26 on Wednesday, was one of the biggest gainers amid a broader recovery observed across the digital currency market during the latter part of last week. Having returned above the $200 mark on Thursday, Ethereum spent the following sessions defending the key level. On Saturday Ethereum hit an eight-day high of $226.60, before ending the day at $223.07.
The coin’s performance was more mixed on Sunday, with its price experiencing quite a few ups and downs during the session. Eventually, Ethereum finished the session at $220.59, only slightly down from its opening level of $222.80
The Ethereum price has continued to wobble in today’s trading. The coin rose to as high as $224.26 in the early hours of the session, but then spent the rest of the morning in decline. The coin bounced back in the afternoon and is currently hovering around $220.
In terms of maket activity, around $1.6 billion worth of ETH tokens have changed hands over the past 24 hours. Notably, a third of that volume has been generated on a Singapore-based crypto exchange called BitForex.
In today’s trading, the Ethereum price stood at $219.69, as of 12:58 BST. The digital coin has gained 0.1% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. Its market capitalisation currently stands at $22.4 billion.
For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.