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173.79 ETH-USD Ethereum Price Charts & History: A Detailed Overview
Curious about the journey of Ethereum’s price against the US dollar? You’ve come to the right place. In this article, we delve into the price charts and historical data of Ethereum (ETH) against the US dollar (USD), providing you with a comprehensive view of its performance over time.
Understanding the Price Chart
The price chart of Ethereum against the US dollar is a visual representation of the market’s sentiment towards ETH. It shows the price of ETH at different points in time, allowing you to observe trends, patterns, and historical data. Let’s take a closer look at the chart and its components.
| Component | Description |
|---|---|
| Time | The horizontal axis represents time, with each point on the axis corresponding to a specific date and time. |
| Price | The vertical axis represents the price of ETH in USD. The higher the value, the more expensive ETH is at that particular time. |
| Line | The line connecting the data points on the chart shows the price of ETH over time. |
By analyzing the price chart, you can identify various patterns and trends, such as peaks, troughs, and support/resistance levels. These patterns can help you make informed decisions about buying, selling, or holding ETH.
Historical Price Data
Let’s take a look at the historical price data of Ethereum against the US dollar, starting from its inception in 2015.
| Year | Price (USD) |
|---|---|
| 2015 | $0.30 – $0.40 |
| 2016 | $0.50 – $10.00 |
| 2017 | $100.00 – $1,400.00 |
| 2018 | $100.00 – $300.00 |
| 2019 | $100.00 – $600.00 |
| 2020 | $200.00 – $2,500.00 |
| 2021 | $1,000.00 – $4,800.00 |
| 2022 | $1,000.00 – $2,000.00 |
As you can see, Ethereum’s price has experienced significant volatility over the years. In 2017, the price skyrocketed, reaching an all-time high of $1,400. However, it faced a major correction in 2018, dropping to around $100. Since then, the price has been on an upward trend, with several peaks and troughs along the way.
Factors Influencing Ethereum’s Price
Several factors have influenced Ethereum’s price over the years. Here are some of the key factors to consider:
- Market Sentiment: The overall sentiment in the cryptocurrency market can significantly impact Ethereum’s price. Positive news, such as partnerships, regulatory approvals, or technological advancements, can lead to an increase in price, while negative news can cause a drop.
- Supply and Demand: The supply of Ethereum is limited, with a maximum supply of 18 million coins. The demand for ETH can fluctuate based on various factors, such as adoption rates, usage in decentralized finance (DeFi), and other applications.
- Market Competition: The rise of other cryptocurrencies, such as Bitcoin and Binance Coin, can impact Ethereum’s price. If these competitors gain significant market share, it may lead to a decrease in Ethereum’s value.