Ethereum has been closely tracking Bitcoin\u2019s price action in recent times, which means that the past few months have been incredibly turbulent for the cryptocurrency. Concurrently with this turbulence, ETH has been failing to garner any heightened trading volume, which could offer some insight into the current trend.<\/p>\n
It is important to note that Ethereum\u2019s volume is up significantly from where it was earlier this year, but the lack of any momentum \u2013 in one direction or the other \u2013 may signal that a massive movement is imminent.<\/p>\n
At the time of writing, Ethereum<\/a> is trading up marginally at its current price<\/a> of $143, which is right around where it has been trading for the past several days.<\/p>\n Over a short time frame, ETH has been trading between a relatively wide range between $120 and $200, and this range has been tightening over the past several weeks.<\/p>\n While zooming out and looking at Ethereum\u2019s one-year price action<\/a>, it grows clear as to just how volatile 2019 has been for the crypto, with it starting the year off at $90 before catching Bitcoin\u2019s upwards tailwinds that led ETH to surge as high as $350 in late-June.<\/p>\n Immediately after setting hitting these highs, the crypto began a multi-month downtrend that it is still caught within, which has led it to erase nearly all of the gains that were incurred throughout the early part of the year.<\/p>\n Analysts still believe that the crypto may see further losses during the last couple of weeks in 2019, with Galaxy, a popular cryptocurrency analyst on Twitter, telling his followers that a break below $140 could lead ETH as low as $110.<\/p>\n \u201c$140 must hold or it’s heading to $110,\u201d he said while pointing to the below chart.<\/p><\/blockquote>\n $140 must hold or it's heading to $110.$ETH<\/a> pic.twitter.com\/6KQO2sMV4C<\/a><\/p>\n — Galaxy (@galaxyBTC) December 14, 2019<\/a><\/p><\/blockquote>\n\n