While it can be an early indicator, be careful about using prices for specific exchanges, I like using coinmarket cap for this reason as it does averages across all exchanges that trade in a particular cryptocurrency.

https://coinmarketcap.com/

For newbies, one of the features of cryptocurrency being truly decentralised is the exchanges are all decentralised as well, they aren't governed by one massive body with all the same prices like the stock exchange or Forex. That means like with this example here you can get one exchange with the price of a cryptocurrency being heavily bumped up while on another exchange it could still be extremely low.