While Bitcoin (BTC) saw a crazy week in and of itself, gaining 10%, Ethereum outpaced the market leader. The second-largest cryptocurrency by market capitalization gained 20% over the past seven days, pushing to $175 for the first time in weeks.
While some analysts are skeptical that this rally will last, citing the fact that ETH printed a clear swing failure candle at the top of the rally, a top analyst just observed that the cryptocurrency has surmounted two key price levels on the daily chart.
Related Reading: Ethereum’s Price is “Convincingly Bearish”: Here’s What Comes After 20% Week
This suggests that a surge could be supported in the coming weeks.
Ethereum Tops Two Key Price Levels
Brave New Coin’s Josh Olszewicz recently observed that Ethereum’s one-day chart has printed an extremely bullish sign: the price of ETH just crossed above both the 200-day exponential moving average and the Ichimoku Cloud for the first time since July 2019.
NewsBTC’s analysis found that a majority of the time the cryptocurrency found itself trading above the two key resistances that were aforementioned, prices continued to rally higher, sometimes gaining dozens of percent more.
This historical strength would suggest Ethereum has room to rally higher in the coming weeks.
1D $ETH
above the 200EMA and Cloud for the first time since July 2019 pic.twitter.com/S3pKLdOA7b
— Josh Olszewicz (@CarpeNoctom) January 18, 2020
Related Reading: Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion
Not Only Positive Sign
Olszewicz isn’t the only Ethereum bull.
Dave the Wave, the cryptocurrency trader who in the middle of 2019 called Bitcoin’s decline to $6,400, posted the below chart last week. He noted when the cryptocurrency was at ~$150 that he expects ETH to push towards $200. This move would put ETH above a key falling wedge structure, which would bode well for bulls.
Freebie from my alts page [fee based].
Possible ascending triangle forming here for a breakout. Buy target 136. pic.twitter.com/840flPDO8Q
— dave the wave (@davthewave) January 11, 2020
This comes shortly after the prominent trader noted that Ethereum recently bounced off the 0.786 Fibonacci Retracement level of the price action from the 2018 bottom to the 2019 bottom, while the Moving Average Convergence Divergence (MACD) has shown signs of a reversal on a medium-term basis, boding well for bulls.
On the fundamental side of things, a Twitter user recently shared the below chart, writing that “Ethereum’s network growth is on an upward trend.” Indeed, per their chart, network growth, defined by the number of new addresses created each day, has recently surged to levels not seen since the top of 2019’s bull run.
Ethereum's network growth is on an upward trend. pic.twitter.com/rsjGAA0Ura
— Adam Ship (@AdamSophrosyne) January 8, 2020
Although the number of new Ethereum addresses may not seem to related to ETH’s price on the surface, the user’s chart shows that there is a clear correlation between the two metrics, with address count growth seemingly preceding price action.
Due to this historical correlation, the rapid growth seen in this metric could imply that the second-largest cryptocurrency has extreme upside potential ahead of itself, upside that may take it back towards $200 and $300.
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
Crypto analysts have revealed that the Ethereum price is about to confirm a golden cross on the daily time frame. This provides a bullish outlook for Ethereum, as it enjoyed a parabolic rally the last time this happened.
Ethereum traded above $2,000 for the first time since May 2022 after the successful Shappella upgrade. According to CryptoSlate’s data, ETH rose more than 6% in the last 24 hours to trade as high as $2,007.
Ethereum [ETH], the largest altcoin remains hyped due to the upcoming upgrades in September. Despite that, traders have had a hard time trusting ETH with their life savings as falling funding rates coThe post Ethereum may drop to $1k for the first time in two months if... appeared first on AMBCrypto.
Over time, the crypto market has maintained a close relationship with the stock market. Ethereum, the second-largest cryptocurrency, rose in lockstep with U. S. stocks for the first time in February.
Журнал TIME добавит криптовалюту Ethereum на свой баланс в рамках соглашения с инвестиционной компанией Galaxy Digital по распространению среди читателей знаний о метавселенных. Согласно анонсу, в числе прочего редакция подготовит список TIME 100 Companies Metaverse, в который войдут «предприниматели, создающие виртуальное будущее с высокой вовлеченностью».
Журнал TIME добавит криптовалюту Ethereum на свой баланс в рамках соглашения с инвестиционной компанией Galaxy Digital по распространению среди читателей знаний о метавселенных. Согласно анонсу, в числе прочего редакция подготовит список TIME 100 Companies Metaverse, в который войдут «предприниматели, создающие виртуальное будущее с высокой вовлеченностью».
The 7 September flash crash came at an unfortunate time, just as Ethereum was challenging the $4k price ceiling. At the time of writing, the king altcoin had closed in the red for three days running.
The overall activity of addresses (or wallets) on the Ethereum (ETH) blockchain has exceeded that of Bitcoin’s on Monday—for the first time in the history of digital assets, according to crypto metrics firm Santiment.
Signs during trading in today’s Asian session indicate that the correction could be over already. Ethereum is leading the charge once again, can it reach $300 this time around? Crypto markets appear to be recovering today though bitcoin has hardly moved on the day, remaining at around $9,800.
The world’s second largest cryptocurrency has been enduring a tough time in October. After exhibiting strong bullish fundamentals in September and recording a growth of over 30 percent, the asset was back under a bearish stronghold and was dwelling under the $200 range, at press time The steep declined on 24 September stripped off its […]
The post Ethereum sees double ascending channel formation as price nears another fall appeared first on AMBCrypto.
In the bear market, many already large Ethereum (ETH) addresses have increased their holdings by over 80 percent this year. Analysts believe that this increase was financed by the sale of ICO tokens.
Ethereum fell another 7% today to a recent low of $297 as its ratio against bitcoin drops below the 0.05 support line to 0.047 at the time of writing. Its...
The post Ethereum Falls Below $300 For the First Time in a Year appeared first on Trustnodes.
Once again, in continuing our analysis of the Finder report, during which ten blockchain experts have made predictions for closing prices of a number of cryptocurrencies on the 31st of December 2018, based on predictions relating to the performance of the respective currencies between now and the end of the year.
In an informal statement made at Yahoo Finance’s All Market Summit: Crypto, William Hinman, the United States Securities and Exchange Commission (SEC)’s director of corporate finance, indicated that the regulatory agency has no plans to deem ether a security.
Coinbase dominated headlines across the space this week with a pair of significant developments. The San Francisco–based exchange announced on Monday, June 11, its intention to add Ethereum Classic to its trading platform and then quickly followed the news on Tuesday with the official opening of a crypto index fund.
Jonas Schnelli speaks about his work as a Bitcoin Core Developer, making Bitcoin more user-friendly, Bitcoin software development as an open source project, dealing with disagreements and criticism, Bitcoin Cash, Ethereum, hard forks, Bitcoin maximalism, time horizons for cryptocurrencies, why the slow progress of Bitcoin can be a good thing, why making Bitcoin more user
Ethereum is witnessing a bit of a hefty decline at the moment. This is of course mostly down to the negative market trend that has flooded the markets, however, recent news about a hack does seem to have had a secondary impact on the value of the currency.
With crypto scams running rampant across the globe, Human Trust Protocol, aka Hub, is joining hands with Civic, a blockchain identification service provider, to verify users via know-your-client (KYC) data gathered from the Civic secure identity platform (SIP).
According to Chinese internet security firm Qihoo 360 Netlab, hackers have stolen $20 million in ether from poorly configured Ethereum mining rigs and third-party applications. Experts at the firm say the cyber-attacks target unsecured Ethereum nodes on the Internet.
Well, we didn’t see this coming. Coinbase have announced their next listing, stunningly in the form of Ethereum Classic. As it stands, Coinbase only list Bitcoin, Bitcoin Cash, Litecoin and Ethereum, making Ethereum Classic the fifth to be added to the growing Coinbase portfolio.
South Korean cryptocurrency exchange Coinrail reported a hack on its website during the early morning hours of June 10, 2018. The thieves allegedly made off with over $40 million worth of altcoins and assorted tokens.
Award-winning comedian, actor, writer and director Jason Attar is once again heading for the big screen with his new project KevCoin: The Movie. A follow-up to his previous film One Night in Powder, Attar will don the guise of his infamous character Kevin Powder — a rock star “fixer” who’s constantly trying to reinvent himself through wild schemes — and take on the world of digital finance as he seeks out fame and riches.
With the creation of Bitcoin and its blockchain, Satoshi Nakamoto introduced an entirely new practical application for cryptography, unearthing an unexplored area for computer science and technological development.
Venmo could be the ultimate cryptocurrency experience from a user-experience perspective. Any cryptocurrency that seeks to power the future of global transactions must ensure that it is supported by a payment system that is simple, user-friendly and free — like Venmo.
Historically, Bitcoin has achieved all-time highs (ATH) on November 28 in both 2013 and 2017. With November 28, 2024, imminent, investors are speculating whether Bitcoin could reach the $100,000 mark on this significant date.
Despite Bitcoin's recent rally, on-chain data reveals the bull market still has plenty of room to grow. Metrics like the MVRV Z-Score, NUPL, and Puell Multiple suggest Bitcoin is far from overheated, pointing to potential for significant upside in the months ahead.
As October approaches, investors are looking ahead to what the month will bring this time around for Bitcoin and the entire crypto industry. Historically, October (often referred to as “Uptober”) has been a month of significant upward momentum for Bitcoin since the crypto’s creation.
Bitcoin fell to lows of $56k again as crypto dumped amid a fresh surge in stocks. Many altcoins are mirroring this dump, including Polygon and Bitcoin Dogs. Yet, as the market experiences new downside pressure at the start of a historically tough September, most experts are doubling down on a bounce for Bitcoin in coming […]
The post 0DOG and MATIC price prediction amid Polygon’s token swap appeared first on CoinJournal.
The cryptocurrency market experienced a significant rally last week, providing a much-needed boost for many short-term speculators to turn profits. Bitcoin led the charge, surpassing the $64,790 mark, though the momentum appeared to have eased by the time of writing.
Both experienced traders and experts are drawn to Litecoin (LTC). Declaring it “about time for LTC to wake up,” John Bollinger, the author of the well-known Bollinger Bands, recently hinted to an upcoming change for LTC.