Ethereum price (ETH/USD) swings between gains and losses on Friday

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Updated on Oct 11, 2019
Reading time 2 minutes

The Ethereum price (ETH/USD) has edged lower on Friday, despite seeing a strong boost that lifted it well above the $150 mark in early trading.

The second-largest digital currency on the market suffered significant losses yesterday, as its price spent the majority of the session on a downward trajectory. The coin tumbled to an intraday low of $147.20, before rebounding slightly in the final hours of the session to finish the day at $149.14. Still this was well below Ethereum’s opening level of $155.20.

Ethereum enjoyed strong positive action in today’s early trading, which allowed it to return above the $150 mark. However, after hitting an intraday high of $156.88, the coin suffered a steep pull-back that erased all of its previous progress. Ethereum’s decline intensified in recent trading, when the coin one again dipped below the $150 level.

Ethereum’s decline appears to be part of a larger downtrend observed across the broader crypto market. All top ten digital currencies are posting losses over the past 24 hours, including the leading cryptocurrency Bitcoin (BTC) which dropped below the $3,800 mark in recent trading. Bitcoin Cash (BCH) and its offshoot Bitcoin SV (BSV) are the worst-performing top 10 coins over the 24-hour period, having lost about 4.5% of their respective values. Meanwhile, Ethereum has shown greater resilience than all of its major rivals, with the exception of the stablecoin Tether (UDST).

In today’s trading, the Ethereum price stood at $148.83, as of 15:34 GMT. The digital coin has lost nearly 1% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s total market cap currently stands at just over $15.5 billion.

For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.

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