Ethereum is rapidly approaching its local highs as bulls begin garnering significant strength
There is one “golden pocket” resistance level that could spark a major selloff if ETH is rejected here
Some top traders are still noting that they expect this uptrend to extend significantly further
The intense uptrend Ethereum incurred yesterday was able to further extend overnight, with the cryptocurrency pushing will into the mid-$180 region as its buyers make a bid at revisiting its local highs at $190.
The cryptocurrency does appear to have some significant underlying strength, as it has been consistently outperforming Bitcoin and many other major altcoins throughout the past several days.
There are a few key technical resistance levels that are fast approaching, however, and a firm rejection at any of these levels could be dire.
Ethereum Rallies Towards $190 as Analysts Target Horizontal Resistance Around $220
At the time of writing, Ethereum is trading up over 3.3% at its current price of $185, marking a notable climb from daily lows of $175 that were set yesterday right before the crypto incurred another leg up that led it into the $180 region.
After pushing to highs of $187 overnight, the crypto faced a harsh rejection here that ultimately led it to decline to lows of $181 – from which point it has been able to recover.
It now appears that ETH may continue extending this uptrend until it reaches the price region existing right around $220 – as one analyst notes that this is its key near-term horizontal resistance region.
“ETH: Opened a swing position on Ethereum. Looking to add size on pullbacks,” the analyst noted while pointing to the support and resistance levels marked on the below chart.
Image Courtesy of Loma
Here are the Levels that Could Spark the Next Massive ETH Movement
It doesn’t appear that Ethereum bulls are in the clear yet, however, as another popular pseudonymous trader explained in a recent tweet that ETH is trading just above a key descending trendline that could offer some insights into its trend.
Although the crypto has been holding above this trendline, the same trader also notes that a rejection at the crypto’s “golden pocket” resistance at its .618 fib level could wipeout ETH’s momentum and lead it lower.
“ETH: If market strength continues, here is my plan: Watch green trendline for general shift in the market. Upon break/obvious close outside/below, I short pullbacks. OR Watch for spike/rejection at golden pocket .618/.65 then short, while the obvious short (X) gets wiped out,” he noted.
Image Courtesy of Chase_NL
Featured image from Unsplash. origin »
Since the start of the year, Ethereum has done rather well. Per data from TradingView, the leading altcoin is trading approximately 80% higher than the price it started 2020 at. Analysts expect ETH to rally further in the months and years ahead as the underlying network’s fundamentals lend to increased demand for the asset. One […]
Ethereum surged yesterday and front-ran the jump that occurred in the aggregated crypto markets, with this latest price action marking an extension of the upwards momentum that was incurred earlier this week when ETH and multiple other altcoins posted significant gains.
Ethereum (ETH) has surged today, marking an extension of the upwards momentum that it incurred earlier this week when the crypto surged nearly 7% after Bitcoin posted a strong bounce at its range lows of roughly $7,800.
The United Nations Children Education Fund (UNICEF) becomes the first UN commission to accept and make cryptocurrency donations. The announcement further claims these donations will be used to fund open source technology development for children across the globe.
Further to its previous blockchain exploits, the United Nations Children’s Fund, more commonly known as UNICEF, is now taking donations in cryptocurrency. According to an announcement earlier today, UNICEF is setting up a “cryptocurrency fund” so that it can “receive, hold, and disburse donations of cryptocurrencies,” specifically Bitcoin and Ethereum.
UNICEF has taken a step further towards cryptocurrency adoption by increasing its acceptance of Bitcoin (BTC) donations. UNICEF Funds To Stay As Crypto According to a press release on October 8, the international body has opted to allow the United Nations International Children’s Emergency Fund (UNICEF) to receive money in cryptocurrency.
ETH price is declining and it recently broke the $172 and $170 support levels against the US Dollar. The price is trading in a bearish zone and it could slide further towards the $160 support. There is a major bearish trend line forming with resistance near $174 on the hourly chart of ETH/USD (data feed.
Ethereum (ETH) has been closely tracking the price action of Bitcoin and most other major altcoins over the past several days, but it appears that it is beginning to establish its own momentum as it climbs towards $180.
Ethereum’s performance in the month of September ended on a strong note, as the second-largest coin noted over 8% in gains, unlike major coins like Bitcoin and XRP. Even though the coin had breached a rising wedge in September and slumped by over 30%, the coin’s performance remained in the green.
After attempting to move higher yesterday, Ethereum (ETH) has once again faced an influx of selling pressure that has thwarted the potential rally that some analysts and investors were previously eying as a strong possibility.
Ethereum has faced a bout of consolidation today as the aggregated crypto markets continue to attempt to determine which direction they will move next, and it is highly probable that in the near-term most major altcoins like ETH will closely track Bitcoin’s price action.
A crypto analyst says that unless the Ethereum price succeeds in passing the $183 level and surging further, it is likely to go down and retest the $160 level
After losing its foothold within the lower-$170 region, Ethereum’s recently incurred upwards momentum appears to have faltered, as ETH has now dropped below the $170 level as Bitcoin revisits its key near-term support level at $8,000.
Ethereum has been on a recovery mode since 24th September which saw the second-largest altcoin lose almost 17% of its value in a single day. ETH was trading at $172. 24 at press time having seen a decline of 1.
Ethereum (ETH) has posted a strong bounce from its recent lows and has not yet faced any notable rejection after climbing from these lows. This slight upwards momentum has come about as Bitcoin finds increasing stability around the $8,000 region.
ETH price failed to surpass the $172-$175 resistance and declined again against the US Dollar. The price retested the $152 support area and it is currently correcting higher. There is a new connecting bearish trend line forming with resistance near $168 on the hourly chart of ETH/USD (data feed via Kraken).
Yesterday, the leading crypto asset by market cap, Bitcoin, broke down from its multi-month trading range, crashing over 15% and dragging already battered altcoins like XRP and Ethereum down further with it.
World’s leading insurance broker and risk adviser, Marsh announced its piloting of Risk Exchange, a new digital placement platform powered by blockchain technology. The concept came out of a hackathon, and Marsh Digital Labs developed it further.
Ethereum surged around 33 percent in the last 21 days after a steep decline. Although it seems like ETH will soon reach an exhaustion point, it could still have more legs. The following technical analysis will evaluate the cause of the recent surge and the possibility for a further upswing.
ETH price rallied further and broke the $200 and $210 resistance levels against the US Dollar. Bitcoin price is consolidating near the $10,200 and $10,250 pivot levels. There is a new connecting bullish trend line forming with support near $206 on the hourly chart of ETH/USD (data feed via Kraken).
Ethereum (ETH) has been standing at the helm of the recent upwards momentum incurred by the aggregated crypto market, and it has been able to extend its momentum in spite of Bitcoin erasing much of its recent gains during an overnight drop.
As we pass the middle of September, cryptocurrency markets are still lethargic. Bitcoin’s tunnel trading continues with renewed vigor, though we are seeing a fair amount of action further down the charts.
Tether transactions are currently clogging up the Ethereum Network reigniting the debate over gas limits. The issue might become further exacerbated with Tether’s latest stablecoin launch — a Chinese yuan-pegged ERC-20 token which will run on Ethereum’s blockchain.
NewsBTC analyst Ayash Jindal draws attention to the critically dangerous negative dynamics of the leading altcoin – Ethereum (ETH). A month ago, the coin cost $ 235, now it is less than $ 180 and returns to the level of early April 2019.
ETH price is still struggling to gain momentum above the $180-$181 resistance area against the US Dollar. The price is slowly moving lower and it could decline further towards the $174 support area.
Ethereum’s price witnessed a hike in the last 24-hours as the coin registered a growth of 4. 37 percent in an hour. Such a trajectory would usually spur positive sentiments among the community, but Ethereum’s market echoed everything but optimism at press time.
Messaging platform Telegram recently announced the launch of its native cryptocurrency, GRAM. The company revealed that the messaging giant’s blockchain would be compatible with Ethereum which would further allow users to operate Ethereum’s DApps on the Telegram blockchain through Solidity.
Yes, the second-largest cryptocurrency, Ethereum, has breached support that was last seen in March 2017 and has dipped further below and it looks like it is not going to stop anytime soon. ETH/BTC The chart attached below shows Ethereum tested the support [0.
ETH price is trading in a bearish zone below the $190 and $192 resistances against the US Dollar. The price is at a risk of more downsides if it breaks the $185 and $182 support levels. There is a key bearish trend line forming with resistance at $187 on the hourly chart of ETH/USD (data.
The crypto market is highly volatile and assets such as Bitcoin, Ethereum, and EOS experience wild price swings. On cryptocurrency margin trading exchanges, these wild price swings are further amplified by traders trading on up to 100x leverage.
The week has ended with reclamation of five figure prices by bitcoin. Some of the altcoins have been marginally dragged up with it, but many including Ethereum are still looking extremely weak. Bitcoin Back Over $10k The past five instances bitcoin has dropped into four figures have been brief encounters.
In 2018, IDEX was undoubtedly the uncontested leader within the decentralized crypto exchange space. The then behemoth of decentralized exchanges frequently ran 24h trading volumes of $5million USD and was responsible for the majority of transactions in the Ethereum network.
2018 was a year to forget for the virtual asset industry. A majority of the assets were impacted by crypto winter which had prevailed after the bullish run in late 2017. In light of that situation, 2019 has been a positive year for digital currencies.
2018 was a year to forget for the virtual asset industry. A majority of the assets were impacted by crypto winter which had prevailed after the bullish run in late 2017. In light of that situation, 2019 has been a positive year for digital currencies.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex The second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline.
Over the last 10 days Ethereum (ETH) has seen a sharp pull-back. The $180 support appears to be holding for now but with large selling pressure entering the market further downside is looking likely.
Iran experienced one of the worst floods in history this March which continued till April. The country received its heaviest rainfall in 70 years, flooding 28 provinces and killing 76 people. The catastrophic floods caused an estimated $2.
Bitcoin and the aggregated crypto markets have been caught in the throes of volatility as of late, and although this volatility has mostly proven to be bullish for Bitcoin, it has largely been devastating for altcoins like Ethereum.
Everton Football Club and eToro have announced a partnership, granting eToro further global exposure through the football clubs marketing assets and a solid presence at Goodison Park – Everton’s stadium.
Ethereum is lagging in their path towards ETH 2.0. Delays may further stem from the probability of implementing EIP-2025 during Istanbul.
The post Ethereum Developers May Implement EIP-2025 in The Next Hard Fork appeared first on Ethereum World News.
Bitcoin and other large-cap cryptocurrencies like XRP, Ethereum etc, were analyzed by Zerononcense in a recent report, and the results indicate that these large-cap cryptocurrencies have not broken even.
Cardano (ADA) sheds 32. 7 percent week-to-date Emurgo releases Yoroi update There’s a new Yoroi wallet update introducing further improvements like the hide balance option. However, that is not enough to support ADA as prices are down 32.
Компания Tether выпустит токен USDT на блокчейне Algorand. Так, новый актив присоединится к семейству стейблкоинов Tether на блокчейнах биткоина, Ethereum, EOS и Tron. To further pioneer collaboration and interoperability within the growing digital asset space, we are proud to announce the upcoming deployment of Tether on the @Algorand platform.
Vitalik Buterin, Ethereum’s founder, has stated “a ~2/3 reduction around the end of next year and a further reduction a bit later would be absolutely viable,” in an ask me...
The post Vitalik Buterin: “2/3 Reduction End of Next Year Absolutely Viable” appeared first on Trustnodes.
Bitcoin Finds Support at $10,000… For Now Bitcoin (BTC) has been absolutely slammed over the past five days. Since passing above $13,000 for the second time this year on Wednesday, the cryptocurrency has been on a.
On the 10th of July, ETH broke down from the current uptrend at around $290 visible in my ethereum price previous analysis. Since then, price levels have dropped back to support levels around $230 resulting in a 20% move in favor of the bears.
Celer Network, the layer-2 blockchain scaling platform, today announced a strategic partnership with MakerDAO, the creator of Dai, the first decentralized stablecoin based on the Ethereum blockchain, to bring Dai stable tokens to Celer’s layer-2 scaling platform.
Litecoin price started a decent recovery from $112. 00, but it failed to gain pace above the $125. 00 resistance. LTC price is currently under pressure and it could extend losses vs USD and bitcoin.
Bitcoin Recovers to $12,000, Lee Expects Further Gains It’s July 4th. You know what that means — fireworks, fireworks for Bitcoin (BTC) that is. According to a recent tweet from Thomas Lee of Fundstrat Global.
Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]
On Monday, the State of Michigan revealed substantial investments in cryptocurrency exchange-traded funds (ETFs) for Bitcoin and Ethereum in a 13F filing with the US Securities and Exchange Commission (SEC).
For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,’ Ethereum would be ‘digital silver.
According to veteran trader Peter Brandt, Ethereum might have just seen its future looking brighter. Known for his technical forecasts, Brandt feels the altcoin is on the verge of a bullish turnaround.
On-chain data shows the Ethereum adoption rate has hit a four-month high, which could be bullish for the cryptocurrency’s price. Ethereum Network Growth Has Shot Up Recently According to data from the on-chain analytics firm Santiment, the ETH blockchain has recently created many wallets.
Ethereum (ETH) is currently facing significant selling pressure and fear after a 23% decline, bringing its price down to yearly lows at $2,200. One major concern for investors is the ongoing underperformance of ETH compared to Bitcoin, a trend that has persisted since September 2022.
On-chain data shows Ethereum has notably outpaced Bitcoin in terms of adoption during the last three months, a sign that could be positive for ETH. Ethereum Has Seen Its Holder Count Go Up By 3.3% In Last Three Months According to data from the on-chain analytics firm Santiment, Ethereum has continued to separate itself from […]
