It’s been a tough week for all cryptocurrencies, Ethereum included. Investors at the start of this week were expecting this nascent market to push to new yearly highs, but their perspective quickly changed when most digital assets plunged by 10% over the course of two days.
The dump coincided with fears that Satoshi Nakamoto — the pseudonymous coder behind the earliest iterations of the Bitcoin project — was selling his stash of BTC. With Nakamoto believed to wield a large amount of Bitcoin worth billions, it was no surprise the market fell quickly.
While some are expecting a crypto market recovery because it was revealed that Nakamoto most likely isn’t selling his Bitcoin, analysts say Ethereum is running up against crucial levels of resistance, restricting upside.
Ethereum Still Has Key Resistances to Cross
On the day, Ethereum is up 4%, outpacing most cryptocurrencies in the top 10, though the rally is expected to stop soon.
One prominent crypto market technician recently shared the chart below, indicating that Ethereum is currently “approaching heavy resistance with the weekly open and monthly open coming up.”
The weekly open — where ETH traded at the start of Monday — is around $207, while the monthly open — where ETH traded at the start of May — is just shy of $210. The cryptocurrency will need to decisively reclaim these levels to confirm upside, the technician wrote in reference to the chart.
Ethereum chart from the crypto trader “Byzantine General” (@Byzgeneral on Twitter).
Unfortunately, it’s unlikely to break through these resistances.
Per previous reports from Bitcoinist, cryptocurrency exchanges are holding (aggregate) more Ethereum than ever before, with addresses owned by platforms like Bitfinex and Binance holding ~18,000,000 ETH.
A prominent data analyst remarked that this is a potentially bearish sign for the cryptocurrency:
“ETH balances are basically at all-time highs, and are up 132k ETH (~26M) since Black Thursday… My interpretation here is that it’s bullish for btc/bearish eth,” the analyst opined through a Twitter thread that was about cryptocurrencies that exchange wallets hold.
Data shared by crypto analyst Ceteris Paribus (@Ceterispar1bus on Twitter).
Ethereum’s bearish outlook can be corroborated by another trader, who shared that ETH is in a textbook “corrective pattern” that could end up with the asset trading around the $50 level.
The trader who made this call predicted Bitcoin would fall to $3,000 and XRP would fall to $0.13 months before they did this year.
Don’t Doubt the Long-Term Outlook
Despite the bearish short-term outlook, some analysts have asserted it isn’t wise to doubt ETH’s long-term outlook.
Messari’s chief executive Ryan Selkis explained that the introduction of decentralized finance (DeFi) into the blockchain’s repertoire gives ETH a “higher ceiling” to rally towards in the long run.”
Whether this comment was made in reference to Ethereum’s performance against the U.S. dollar or against Bitcoin was not made apparent.
Featured Image from Shutterstock origin »
Ethereum is gearing to break out through a key resistance level in the next week. The largest altcoin by market cap was trading at $1,750 after seeing a 1.15% drop in the past day.
But weekly gainsThe post Assessing the odds of Ethereum crossing $2k mark this week appeared first on AMBCrypto.
While other cryptocurrencies could do well this week, the odds are that Ethereum and…
The post ERC-20 Tokens to watch this week as the Ethereum Merge gets underway appeared first on CoinJournal.
After a bullish run last week, ETHUSD is showing significant bearish momentum this week. The Ethereum price dropped below $1,400 Tuesday, down over 8% in the past 24 hours, erasing all of the last week’s growth.
The global crypto market cap has dropped by $369 billion in the past week. Ethereum [ETH], as it stands, took the biggest hit during the past week among the top 10 cryptocurrencies. But the question iThe post Could 3AC affect Ethereum to register newer lows this week appeared first on AMBCrypto.
The global crypto market cap has dropped by $369 billion in the past week. Ethereum [ETH], as it stands, took the biggest hit during the past week among the top 10 cryptocurrencies. But the question iThe post Could 3AC affect Ethereum enough to register newer lows this week appeared first on AMBCrypto.
Ethereum (ETH) hit a new all-time high of $4,400, just over a week after Bitcoin (BTC) achieved the same feat.
The post Ethereum Brushes New All-Time High a Week After Bitcoin appeared first on BeInCrypto.
After trading 10% below the price from last week, Ethereum was at the $2500 level. The price action was largely range-bound and depended on the liquidity and volatility across exchanges. Liquidity conThe post What are the chances of Ethereum hitting $3000 this week? appeared first on AMBCrypto.
Ethereum's price has been quite resilient over the past few days and even showed greater determination in heading on a recovery run after last week's losses even in comparison to Bitcoin. Over the pasThe post Keep tabs on these Ethereum developments to know how its market will evolve this week appeared first on AMBCrypto.
Ethereum has been pushing higher after reaching $380 late last week. The asset trades for $400 as of this article’s writing, bouncing around 5% from last week’s lows. At the highs on Monday, ETH traded for $410 as buyers stepped in en-masse.
It has been a crazy week for Ethereum and most other major altcoins, with the cryptocurrency seeing an intense selloff last week that led it to plummet all the way down to its previous bear-market lows before it was able to find any significant support.
Less than a week ago, ETH tested a support line for the first time since December 2018. It has since recovered slightly, valued at around $153 at the time of writing. According to CoinMarketCap, the fThe post Ethereum could drop down from rising wedge to $146 next week appeared first on AMBCrypto.
Ethereum 2. 0 developers plan to begin the process of launching a testnet this week, Trustnodes is told. “We’re ready,” Preston Van Loon of Prysmatic Labs said referring to just his.
Ethereum has been following Bitcoin upward this week but certain fundamentals have also been responsible for the rise. In short, transactional activity on the network is growing. Ethereum has had a good week.
Ethereum Price Analysis Ethereum was among the best performing altcoins during “blockchain week” which took place last week with the biggest cryptocurrency conferences of the year taking place in New York.
FOMO Moments Crypto markets making moves on Monday; Litecoin, Cardano and Neo racing ahead, Ethereum sluggish. Another crypto market rally has greeted us this Monday morning as $7 billion flowed back into digital currencies over the past 24 hours.
ETH/USD Medium-term Trend: Bullish Resistance Levels: $240, $250, $280 Support Levels: $150, $130, $110 Last week the price of Ethereum was in a bullish trend zone. The crypto’s price had tested the $160 resistance level to break the level but without success.
After one whole week of battling sellers, the crypto-pioneer and leader by market capitalization Bitcoin (BTC) made it above $4,000. 00 with today’s stellar market performance. In just around 30 minutes, the total global market capitalization jumped from $132.
Ethereum has been outperforming other major cryptocurrencies as of recent. Today, Litecoin is stealing the show outperforming while others fail to follow suit. However, all-in-all, it has been a bullish week for Ether.
Ethereum started the new year as the second largest currency in terms of market capitalization. It also enjoyed double digit rise last week. Although, it's preparing itself for the upcoming hard fork.
This week in crypto: Overstock continues crypto push, Ethereum shines, and Colorado pulls a regulation double reverse. Read about it in our weekly round-up.
The post This Week in Cryptocurrency: January 4, 2019 appeared first on CoinCentral.
Latest Bitcoin Cash News Thing is investors are unfazed and even as speculators rush to the exits research data from Chainanalysis show that most were stockpiling days before prices plummeted ahead of the disastrous hash rate war of the third week of November 2018.
DX. Exchange Digitizes Tesla, Apple, Other Nasdaq Stocks According to a report from Bloomberg, DX. Exchange, an up-and-coming crypto startup headquartered in Estonia and Israel, will be putting a number of popular American equities onto a blockchain next week.
The total crypto market cap added $3 billion during last week, but it is still down with approximately $485 billion since the same time a year ago. Ethereum is leading the recovery after jumping 17 percent and returning to the second spot as the most valuable cryptocurrencies.
A new cryptocurrency exchange dubbed DX. Exchange is launching in Estonia next week which, according to Bloomberg, aims to revolutionize traditional stock marketplaces. Easy Access to NASDAQ Company Shares with DX.
#XRPtheBase is a twitter hashtag that has gathered traction since Binance announced that it will be listing trading pairs with XRP as the base. The announcement was made on Christmas Eve and was welcomed as the best present the XRP community could receive from from Binance’s CEO, Changpeng Zhao.
With just about a week to go to Ethereum’s most awaited hardfork, exchanges are coming out in support of it. The most recent exchange to come out in support today, was the world’s largest exchange Binance.
Ethereum’s price has surged in the past week, allowing the cryptocurrency to close its gap with its close rival, XRP. Going into 2019, it’s possible that Ethereum will regain its dominant position as number two by market capitalization.
A week ago, Ethereum World News had notified the crypto community that the launch of Bakkt might be postponed for a second time due to delays getting the necessary approvals to launch by the 24th of January.
ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $250, $280 Support Levels: $130, $120, $110 Last week the price of Ethereum was in a sideways trend. On December 28, the crypto’s price was in a bullish trend zone as the price reached the high of $142.
Cryptocurrency, TRON (TRX)–With the crypto markets showing a moderate amount of price stability in the final week of 2018, after falling nearly $700 billion in market capitalization throughout the year, coin projects are consolidating and focusing on growth for 2019.
No coin is perfect, but Ethereum has more than its share of problems. The ICO-laden token has shed 80% of its value since its peak and given up the No. 2 spot to XRP (that had to hurt). Now its very mission has been called into question.
2018 saw a new scam epidemic that gradually took over Twitter – and eventually the entire cryptocurrency and blockchain space: the Bitcoin giveaway scheme. It all started in January, at the height of the cryptocurrency mania.
ETC/USD Long-term Trend: Bearish. Resistance levels: $8, $10, $12 Support levels: $5, $3, $1. The ETC/USD pair was in a bullish trend in the last week of December 2018. The ETC price has an opening balance of $4.
ETH/USD Long-term Trend: Bearish Resistance Levels: $350, $360, $370 Support Levels: $130, $120, $110 The ETH/USD pair was in a bullish trend in the last week of December 2018. Also, in December, neither the bulls nor the bears have control over the price of Ethereum.
Cryptocurrency, Ethereum (ETH), XRP–While the crypto markets limp into the final week of 2018, down over $700 billion since the start of the year, some optimism is brewing for the industry in 2019 and beyond.
Supply levels: $131, $146, $164 Demand levels: $109, $94, $82 ETH/USD Medium-term Trend: Bearish The trend on the medium-term outlook turned bearish. The bullish momentum on the ETH market was clearly noticed last week on the 4-Hour chart as the ETH price was making higher highs movement.
The blockchain protocol Tron released its weekly report on Dec. 24th to highlight its progress, partnerships, and new records in the week running from Dec. 15th to Dec. 21st. At least three more key executives are expected to deliver keynote speeches at the upcoming niTRON summit to be held in January in San Francisco – […]
TRON Taps Former Developer of Ethereum Classic Development Team – Weekly Report was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
The year 2018 for the crypto currency market was almost completely characterised by a downward trend and the bear market. While the crypto market gained a certain stability last week, the signs of a bull run now seem to be rather low again.
A look at the Weekly chart for Ethereum in logarithmic form shows that price fell to the first mini-support area at $80 then quickly rallied to meet resistance at $160-$180. The candle for the week of 16-22 December is the largest bullish candle of the year and is accompanied by large volume as well (yellow […]
Ethereum [ETH]: Price Rebounded Right Back to Triple Digits, What Is Next? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Ripple price climbed sharply this past week above 0. 00010BTC against bitcoin. XRP topped near 0. 000107BTC and later started a downside correction. Key Talking Points Ripple price started a downside correction below the 0.
Blockchain, Cryptocurrency, Facebook–Last week, EWN reported on an industry rumor that Facebook, the social media giant with over 2 billion active users, was in the process of developing a new stablecoin cryptocurrency.
Cloudflare, one of the largest web service providers, may soon begin working alongside members of the Ethereum development community. Cloudflare’s head of cryptography, Nick Sullivan, reached out on Twitter last week with the following message: “Dear Ethereum researchers, Cloudflare is very interested in working with you on how to bridge the gap between the traditional…
The post Cloudflare Courts Ethereum Devs, Buterin Interested In CAPTCHA Privacy appeared first on UNHASHED.
The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold. Crypto prices which recovered slightly on Monday and Tuesday continued trending downward as uncertainty looms.
Bitcoin fell 4. 72% over the weekend and another 3. 50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.
2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.
The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin […]
The post Weekly price analysis: prices decline on risk-off sentiments appeared first on CoinJournal.
Cryptos trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data. The Fed expressed caution around inflation, especially as Trump’s policies will kick in after his inauguration on Jan.
In the past week, Ethereum (ETH) has dropped 9. 3%, falling from $3,630 on January 3 to $3,235 at the time of writing. While ETH is striving to defend the psychologically significant support level at $3,000, some crypto analysts remain confident that the digital asset’s long-term price trajectory is bullish.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted. Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern.