Category Archives: ETH

Ethereum Price Analysis: ETH Trading Near Crucial Turning Point

  • Ethereum price declined recently and revisited the key $113 and $114 supports against the US Dollar.
  • ETH is trading below a crucial bearish trend line with resistance at $120 on the 4-hours chart (data feed from Coinbase).
  • The price will most likely make the next significant move either above $120 or below $113 in the near term.

Ethereum price is under a lot of pressure below the $120 pivot level against the US Dollar. ETH is preparing for the next break either above $120 or towards $100 in the coming sessions.

Ethereum Price Analysis

In the past few days, there were mostly bearish moves below $135 in Ethereum price against the US Dollar. The ETH/USD pair declined from the $160 swing high and settled below the $140 and $138 support levels. It traded towards the $113 and $114 support levels and later recovered a few points. The price climbed above the $120 and $125 levels, but it struggled to gain traction above $130-132. As a result, there was a fresh decline and a few swing highs were formed near $128 and $126. The last swing high was near $126 before the price retested the $113 support area.

It is currently trading a few points above the $113 support. An immediate resistance is the 23.6% Fib retracement level of the recent drop from the $127 swing high to $113 swing low. More importantly, there is a crucial bearish trend line in place with resistance at $120 on the 4-hours chart. Above the trend line, the 50% Fib retracement level of the recent drop from the $127 swing high to $113 swing low is near $120. Finally, the 55 simple moving average (4-hours) is positioned near the $121 level. Therefore, a break above the $120-121 resistance zone is must for a fresh recovery.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price seems to be preparing for the next significant move either above $120 or below $113. Above $120-121, the price may test $130, and below $113, the price could test $100.

Technical indicators

4-hours MACD – The MACD for ETH/USD is placed heavily in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently well below the 35 level.

Key Support Level – $113

Key Resistance Level – $121

The post Ethereum Price Analysis: ETH Trading Near Crucial Turning Point appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Rally Approaching Significant Barrier

  • Ethereum price corrected higher after testing the $113.114 support area against the US Dollar.
  • ETH is heading towards a major bearish trend line with resistance at $135 on the 4-hours chart (data feed from Coinbase).
  • The price may struggle to surpass the $132, $135 and $138 resistance levels in the near term.

Ethereum price gained traction above the $120 barrier and rallied above $126 against the US Dollar. However, ETH is likely to fail near the $135-138 resistance zone.

Ethereum Price Analysis

This past week, we saw a significant decline in Ethereum price from the $159.40 swing high against the US Dollar. The ETH/USD pair declined heavily and broke the $150.00, $142.00 and $124.00 support levels. There was even a close below the $136 pivot and the 55 simple moving average (4-hours). Sellers gained traction and pushed the price below the $120.00 support area. A new monthly low was formed at $113.67 and later the price formed a support base.

It seems like $113-114 zone acted as a solid support, resulting in a sharp upside correction. The price moved above the 23.6% Fib retracement level of the last decline from the $159 swing high to $113 swing low. It spiked above the $130 level and moved into a positive zone. At the moment, the price is consolidating below $130, with a few bearish signs. On the upside, there is a strong resistance near $135-138. There is also a major bearish trend line in place with resistance at $135 on the same chart. Besides, the 50% Fib retracement level of the last decline from the $159 swing high to $113 swing low is at $136.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly facing a solid resistance near the $135 and $136 levels. A clear break above the $136 level and the 55 simple moving average (4-hours) is needed for more gains. On the downside, the main supports are at $124 and $120.

Technical indicators

4-hours MACD – The MACD for ETH/USD moved back nicely in the bullish zone, with a positive bias.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD jumped back sharply above the 50 level.

Key Support Level – $124

Key Resistance Level – $136

The post Ethereum Price Analysis: ETH Rally Approaching Significant Barrier appeared first on Live Bitcoin News.

Source: Bitcoin News

Kyle Samani: Dominance of Ethereum Among Blockchain Developers Will Be Challenged, But How?

Kyle Samani, the co-founder of the $75 million cryptocurrency fund Multicoin Capital, has said that Ethereum will eventually challenge Bitcoin’s dominance over the market. 

A Shift to Decentralized Exchanges

The founder of the Austin-based multi-million dollar cryptocurrency fund Multicoin Capital, Kyle Samani, has shared his take on the current stage of the cryptocurrency market.

He holds that it hasn’t all been doom and gloom despite the tumultuous 2018. According to the expert, one of the hottest trends on the block will be decentralized exchanges.

He believes that Binance’s plan to introduce a decentralized exchange will cause a massive shift in the cryptocurrency space.

Binance realizes that the greatest disruptive threat to their business is decentralized exchanges. […] On a long enough time scale, they believe it is likely to become a dominant form of exchange. As such, they’re aiming to disrupt themselves by pioneering here. I expect that they will create incentives to encourage customers to trade on the decentralized exchange instead of the centralized one, and will actively bridge liquidity pools. – He said.

In addition, he also said that other platforms might follow in the footsteps as Binance, as soon as it brings its decentralized trading platform to light.

Ethereum to Be Challenged Fiercely

Ethereum’s dominance as a platform providing an underlying infrastructure for the development of decentralized applications will be challenged fiercely going into the short to medium-term future, according to Samani.

He holds that a group of very well-funded projects will be able to pose a threat to Ethereum as the leading smart contract platform.

All of the new blockchains are aiming to challenge Ethereum. […] I expect by the end of the year the percentage of total developers building on Ethereum will be lower than it’s right now, simply because of the competition. […] At the end of 2019, I still expect Ethereum to be the market leader among smart contract platforms. But there is a real probability that by the end of 2020, this is no longer the case. – Said Samani.

What do you think of Kyle Samani’s take on the current state of the cryptocurrency field? Don’t hesitate to let us know in the comments below!

Images courtesy of BizJournals

The post Kyle Samani: Dominance of Ethereum Among Blockchain Developers Will Be Challenged, But How? appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Near Make-or-Break Levels

  • Ethereum price revisited the $160 resistance where sellers emerged against the US Dollar.
  • ETH is approaching a crucial bullish trend line with support at $152 on the 4-hours chart (data feed from Coinbase).
  • The price is about to make the next move either above $160 or towards $140.

Ethereum price is struggling to clear the $160 barrier against the US Dollar. ETH may decline towards $140 if it continues to struggle near $159-160.

Ethereum Price Analysis

After forming a support near the $130 level, Ethereum price started an upward move against the US Dollar. The ETH/USD pair broke the $146 and $150 resistance levels. There was even a close above the $146 level and the 55 simple moving average (4-hours). The price tested the $159-160 resistance area, which acted as a solid barrier for buyers once again and prevented further gains.

A high was formed at $160.66 and later the price corrected lower. It recently dipped below the 23.6% Fib retracement level of the last wave from the $132 low to $160 high. However, there is a strong support formed near the $153-154 area. There is also a crucial bullish trend line with support formed at $152 on the 4-hours chart. If there is a downside break below the trend line, the price may test the $146 support. It represents the 50% Fib retracement level of the last wave from the $132 low to $160 high. Besides, the 55 simple moving average (4-hours) is also near the $146 level. Therefore, if there is a downside break below $153, the price could decline towards the $146 support. Below the $146 support, the price may accelerate towards the key $140 pivot area.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price seems to facing a solid barrier near the $159-160 zone. A break above the $160 resistance could push the price towards $168 or $174. On the other hand, a bearish break below $153 may delay a break above the $160 resistance.

Technical indicators

4-hours MACD – The MACD for ETH/USD is slightly tilting into the bearish zone, signaling a possible downside break.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is still above the 50 level.

Key Support Level – $146

Key Resistance Level – $160

The post Ethereum Price Analysis: ETH Near Make-or-Break Levels appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Approaching Crucial Support Near $120

Key Points

  • Ethereum price rallied above the $150 resistance before sellers appeared near $160 against the US Dollar.
  • ETH declined sharply towards a major bullish trend line with support at $118 on the 4-hours chart (data feed from Coinbase).
  • The price is likely to find a strong support near the $118 and $120 levels in the near term.

Ethereum price rally found a solid barrier near the $159-160 zone against the US Dollar. ETH corrected lower sharply, but it could find support near $120.

Ethereum Price Analysis

This past week, we discussed the chances of more gains above $100 and $110 in Ethereum price against the US Dollar. The ETH/USD pair gained traction and broke the $120 and $135 resistance levels. There was also a close above the $135 level and the 55 simple moving average (4-hours). The price even broke the $150 resistance and traded as high as $159.55.

Later, there was a sharp downside correction and the price declined below $144, $140 and $138. There was also a break below the 23.6% Fib retracement level of the last wave from the $81 low to $159 swing high. However, the price is now approaching a major support area near $120. There is also a key bullish trend line formed with support at $118 on the 4-hours chart. Besides, the 50% Fib retracement level of the last wave from the $81 low to $159 swing high is also near $120. Therefore, the $118 and $120 support levels are likely to act as strong buy zones in the near term.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price could bounce back after testing the $120 support. On the upside, it must clear the $135 and $140 resistance levels to start a new upward move. The next resistance is at $144 and $150.

Looking at the technical indicators:

4-hours MACD – The MACD for ETH/USD is slightly in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is just near the 50 level.

Key Support Level – $120

Key Resistance Level – $135

The post Ethereum Price Analysis: ETH Approaching Crucial Support Near $120 appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Could Turn Super Bullish Above $100

Key Points

  • Ethereum price finally recovered after forming a base near $81 against the US Dollar.
  • ETH broke a significant bearish trend line with resistance near $86 on the 4-hours chart (data feed from Coinbase).
  • The price must break the $97 and $100 resistance levels to stage a solid comeback in the near term.

Ethereum price gained traction above $86 and $90 against the US Dollar. ETH could turn super bullish if there is a close above $97 and $100.

Ethereum Price Analysis

After forming a crucial support near the $81 level, Ethereum price started an upward move against the US Dollar. The ETH/USD pair rallied recently and broke the $85, $86 and $90 resistance levels. More importantly, there was a close above $85 and the 55 simple moving average (4-hours). Besides, there was a break above the 23.6% Fib retracement level of the last drop from the $126 high to $82 swing low.

Buyers also cleared a significant bearish trend line with resistance near $86 on the 4-hours chart of ETH/USD. The pair traded above the $95 level and almost tested the crucial $97-98 resistance zone. The price is currently consolidating below $97 and it could correct a few points lower. An initial support is at $90, below which the price may test the $89 zone and the 55 SMA. The $87 level could also act as a solid support since it was a resistance earlier. On the upside, buyers must break the $97 and $100 resistances for further gains. The next stop may be the 50% Fib retracement level of the last drop from the $126 high to $82 swing low at $104.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is trading with a positive angle above $90. However, ETH must break the $97 and $100 resistance levels. If not, it could drop back to $87 or $82.

Looking at the technical indicators:

4-hours MACD – The MACD for ETH/USD moved into the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is just above the 60 level.

Key Support Level – $87

Key Resistance Level – $97

The post Ethereum Price Analysis: ETH Could Turn Super Bullish Above $100 appeared first on Live Bitcoin News.

Source: Bitcoin News