Ethereum Price Technical Analysis

Ethereum Price Technical Analysis: Consolidating Below Crucial Support Levels

Though ETH-USD pair is still located in a bearish zone, a short term
upside correction will happen only if the Ethereum
price successfully breaks above the US$118 and US$120 resistance levels.

Ethereum Technical Analysis: Prediction of the Next Move

  • Yesterday, the Ethereum witnessed a significant fall in price from the US$125 level. It broke below the crucial support levels at US$122, US$120, US$115, and US$115. It even went on to test the US$112 level but buying pressure in that zone pushed the price up by a few points above the US$114-level.
  • Essentially, the ETH price against the US Dollar traded above the 23.6% Fibonacci retracement level of the last price movement from the high at US$123 to the low at US$112.
  • The ETH/USD price is currently hovering around the US$116 level. Though it tried to move above the US$117-118 zone couple of times, it failed. The US$118 level is crucial as the 50% Fibonacci retracement level of the last price movement from the high at US$123 to the low at US$112 is also located near that level.

Ethereum Price Technical Analysis

  • Above the US118-level, the next resistance is at US$120, which is again a crucial barrier. This is because the 100-Hourly SMA is located near that level.
  • While Hourly MACD is still located slightly within the bullish zone having a flat structure, the Hourly RSI showing a upward movement towards the 50 and 55 levels.
  • Ethereum price’s technical analysis shows that the major support and resistance levels are located at US$113 and US$120 levels.

Conclusion

The Ethereum price chart of TradingView shows that the ETH/USD price is likely to trade around the US$112 level before making the next move. A little recovery towards the US$125 level can be seen if the ETH price successfully moves above the US$118-120 zone. If it doesn’t happen, then ETH-USD pair is likely to test the US$110-112 level again.

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Wordpress Blockchain

New WordPress Publishing Platform Newspack to Offer Blockchain Features

WordPress is going to launch a new publishing platform called Newspack that is reportedly an inexpensive platform, which offers technology as well as support for small/medium-sized news organizations. Reports say that this platform is backed by the behemoths such as Google, ConsenSys (Ethereum development studio), and many more. Blockchain tools will be built in the new Newspack publishing platform.

While Google has invested US$1.2 million in the Newspack funding, ConsenSys has contributed US$350,000. Other organizations that have invested in this platform are Lenfest Institute for Journalism and the John S. and James L. Knight Foundation. While the former has invested US$400,000, the latter has contributed US$250,000.

The media reports claiming huge investment by ConsenSys has been confirmed by the company representative on Wednesday. The ConsenSys representative went on to say that the newsrooms that will access the Newspack platform can choose the option of using blockchain-based features, which are made available with the help of Civil Media (which is again backed by ConsenSys).

Wordpress Blockchain

Civil Media’s Publisher product will be available as a plugin on the WordPress platform. The concerned product helps newsrooms to archive content permanently on a decentralized network. The ConsenSys representative also said:

“The plugin will also act as a portal that will walk newsrooms through how to join the Civil Registry, the hub of community-vetted and -approved newsrooms”

The consumers looking for news will be given access to a discovery portal. Reports say that back in December 2018, Civil Media had successfully helped a news website to archive a complete article on the Ethereum blockchain. This is a big achievement for a company that had confronted certain issues including a failed token-based fundraising activity. The major breakthrough came when Associated Press announced in August 2018 that they are going to collaborate with the Civil Media on content licenses that are based on blockchain technology.

 

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Ethereum Constantinople Hard Fork

Ethereum’s Constantinople Hard Fork – What to Expect?

Ethereum’s upcoming hard fork, the system’s 5th planned system-wide upgrade, should be taken with “cautious optimism”. That’s what Ethereum Foundation’s developer relations Hudson Jameson believes. The Constantinople hard fork is expected to be activated on January 16, 2019.

Most important aspect of this hard fork is that it must be installed unilaterally throughout all nodes in the network to get its proper functioning, especially as per expectation.

Is there any Risk associated with Constantinople Hard Fork?

The process involved in Ethereum’s Constantinople Hard Fork is that it comes with inherent risks. One of the risks is that of a probable split of the network in case a sufficient number of users do not agree with the upgrade process. The risks are not unfound. Such a thing happened back in 2016. At that time a controversial hard fork took place after DAO’s collapse, leading to the emergence of 2 different blockchain networks. While one was Ethereum, the other was Ethereum Classic.

Ethereum Constantinople Hard Fork

What about this Time?

Parity ethereum client’s release manager, Afri Schoedon, has said that the risks associated with a chain split are significantly low in case of Constantinople Hard Fork. This is because of the fact that the top mining pools of Ethereum, who are in favor of upgrade adoption are significantly strong.

Ethermine CEO Peter Pratscher (who also runs a tracking website) said that the results show just 15.6% adoption rate of Constantinople hard fork. He, however, called the statistics as flawed and went on to claim that the adoption rate is closer to a majority. Pratscher said that:

“We expect most of the not-updated nodes to be updated by the time the fork block arrives.”

More about Ethereum Constantinople Hard Fork

The upcoming Ethereum hard fork got its name from the Byzantine Empire’s capital. This hard fork forms part of a 3-part Metropolis upgrade, combining 5 Ethereum Improvement Proposals (EIPs). Once the upcoming upgrade takes place the mining difficulty will be reduced significantly. The miners’ reward for making the network secure is also decreased to 2 ETH per block from the previous 3 ETH.

Hudson Jameson has reportedly said:

“We are very excited to be implementing these changes to the ethereum protocol. However, we put the safety and stability of the network first and foremost.”

 

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DX.Exchange digital stocks ethereum blockchain

Buy Tokenize Stocks of Top Companies on DX.Exchange from Monday

A new start-up, DX.Exchange, based in Estonia, has announced that they will allow traders to buy and sell tokenized stocks from Monday. The traders can now trade tokenized stocks of top companies such as Amazon, Apple, Tesla, Google, Facebook, and many more.

What does DX.Exchange Offer?

DX.Exchange’s CEO Amedeo Moscato said:

“We, at DX.Exchange, are launching the First Regulated & Digital Stocks Exchange of the world! Connecting Markets, each Digital Stocks is backed 1:1 with Real Stocks.”

While explaining about the way the entire thing works, they have mentioned in their website that MPS MarketPlace Securities Ltd buys real world stocks of leading companies as per DX.EXCHANGE platform’s token demand. Once these stocks are bought, MPS MarketPlace Securities (which is supervised by CySEC, the Cyprus Regulator) generates smart contracts (representing the real world stocks), ERC20 tokens, on the Ethereum network.

Reports say the tokenized company stocks that are offered for buying and selling on the DX.Exchange are real-world stocks of top companies that are listed on the leading exchanges across the world such as NYSE, NASDAQ, Tokyo Stock Exchange, and Hong Kong Exchange.

DX.Exchange digital stocks ethereum blockchain

What’s the Process of Trading Tokenized stocks on DX.Exchange?

The traders interested in trading Digital Stocks of leading US companies on Dx.exchange are required to carry out the following tasks –

  • Go over an approval form, mentioning the Term & Conditions.
  • Become MIFID 2 compliant – According to this, the user has to agree in entering an agreement with MPS MarketPlace Securities Ltd for buying and selling tokenized stocks.

The notification on DX.Exchange’s website also says:

“MPS MarketPlace Securities, Ltd is the trust holder of the stocks on behalf of the token holders. Since Digital Stocks are not like CFDs with leverage, there are no carrying costs for the token holders. Each token is backed 1:1 by one share of real stock. These shares are held in a segregated account.”

Conclusion

When you are buying or selling tokenized stocks on DX.Exchange, it means you are basically trading Tether. However, the only difference is that the trade is done in terms of the digital stocks of real-world companies in place of fiat money such as US Dollars.

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Ethereum Price

Ethereum Price Bullish above US$150, Becomes 2nd Largest Cryptocurrency Again

Ethereum (ETH) price against the US Dollar has jumped 13.8% during early trading hours of Wednesday to reach US$154.48, increasing the market capitalization to US$16.09 billion. This has helped the altcoin to become the second largest altcoin (in terms of market cap) again by overtaking Ripple (XRP).

Ethereum has reclaimed the second position after mid-November 2018. Since touching low during mid-December 2018, Ethereum price has gained over 78%.

What did BitMEX CEO Arthur Hayes Recently Predict about Ethereum Price?

BitMEX CEO Arthur Hayes recently said that he believes Ethereum (ETH) price against the US Dollar will return to US$200-level once the new Initial Coin Offerings (ICOs) hit the market. When asked about the rebirth timing of ICOs, he said that it’s still 12-18 months out. However, he stressed the fact that the ETH/USD price will hit the US$200-level far sooner.

Ethereum Price

A Quick Look at the Ethereum Price Movement & Market Cap

At press time, Ethereum price against the US Dollar is trading at US$154.75 (ALT100 index) with a market capitalization of US$16,120,274,407. Trading volume of ETH saw significant increase on OEX, a leading Chinese cryptocurrency exchange. At OKEX and Binance too, the trading volume of ETH/USD witnessed significant spike.

ETH was trading at US$85 during the first week of December 2018. The cryptocurrency showed remarkable progress since mid-December and crossed the US$100 mark soon. The Bull Run didn’t stop there. After crossing the resistance at US$98 and psychologically strong resistance at US$100, the momentum increased and soon moved above the US$135 last week. After the 13.8% rise during early hours of Wednesday, Ethereum has crossed the US$150 mark. Ethereum price analysis shows that the bullish run will continue over the US$150 support.

Conclusion

Ethereum price’s hourly chart is showing a tremendous uptrend from US$120.35 to US$138.52 to US$160.6. Ethereum technical analysis shows that ETH-USD pair has successfully broken above the US$149 resistance and is currently hovering around the current price. Both the 1-hour and 24-hour charts show a bullish trend, depicting a continued uptrend in the near future.

 

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cryptocurrency weekly analysis

Cryptocurrency Weekly Analysis – Bitcoin, Ethereum, & Zcash

Cryptocurrency market has entered 2019 after witnessing major meltdown in 2018. It’s still in the state of uncertainty as no major fundamentally strong news is available. Therefore, the traders still have to rely mainly on technical analysis of major cryptocurrencies. Here are the cryptocurrency weekly analysis and forecast of Bitcoin, Ethereum, and Zcash:

Cryptocurrency Weekly Analysis of Bitcoin (BTC)

Bitcoin price against the US Dollar is still getting strong support from the 200 Moving Average. A bearish pattern or a double top formation can be seen in the near term. In the short term, strong resistance can be seen at around US$3,900 with support at around US$3,600. If the price heads downwards then it can reach US$3566 level. In case the support at US$3,600-level is breached downwards then the Bitcoin (BTC) price may again test the lows of 2018, lying around US$3,100.

cryptocurrency weekly analysis

Cryptocurrency Weekly Forecast of Ethereum (ETH)

Ethereum price against the US Dollar is currently trading around US$134. However, it is important to note that strong support is building at around US$110. Ethereum is following the Bitcoin’s price movement pattern. That’s why a double top formation can be seen in the ETH/USD charts. Here, resistance level can be seen approximately at around US$150. Getting back to the high levels of 2018 is a long way for Ethereum (ETH).

However, the situation looks better when ETH/BTC is taken into consideration. Currently, the ETH-BTC pair is trading at around 0.036 BTC. In fact, the resistance is also located at this price point. The support level is located at around 0.032 BTC.

Cryptocurrency Weekly Predictions of Zcash (ZEC)

Cryptocurrency weekly analysis of Zcash shows that the price against US Dollar is witnessing an upcoming bullish formation (shoulders pattern). However, its actual price movement will depend on the price movement of Bitcoin price’s movement. ZCash (ZEC) price is currently trading at around US$55 and the resistance is located at around US$77. If this resistance level is broken above then the price may go up to the next resistance at US$100. Support level is located at just 10% below, which is at around US$50.

 

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Ethereum ETH Price

Is Ethereum Price Gearing Up for the Next Big Move?

Ethereum price is gaining momentum against the US Dollar as well as Bitcoin. Technical analysis of ETH price against the US Dollar shows that the price must stay above the strong support level at US$130 for initiating a fresh rally upwards.

Today Ethereum price traded towards US$147 level but later corrected below US$140. It is currently trading at US$135.39 (Kraken data feed shows). The hourly chart of ETH/USD pair shows that a short-term bearish trend line has formed with US$138 as resistance. A fresh bullish rally can be expected above the resistance levels at US$138 and US$140.

Ethereum Price Analysis – ETH/USD Technical Indicators & Price Movement

Ethereum (ETH) price against the US Dollar witnessed a nice upside movement from the US$114 level. It went on to break above the resistance levels at US$128 and US$130. Closing above the US$130 and the 100-hour SMA bolstered the upward price movement.

Ethereum ETH Price

At one point of time today, the ETH-USD pair moved above the US$140-level and went on to form a 24-hour high at US$146.95. However, it couldn’t hold on to that level and corrected to below US$140. Resistance formed at 23.6% Fibonacci retracement level of the last price movement from low at US$114 to high at US$146 proved to be strong. That’s what led to the correction below US$140.

However, the downward price movement got protection from the support at US$130 as well as 100-hour Simple Moving Average. Another level that acted as strong support is the 50% Fibonacci retracement level of the last price movement from low at US$114 to high at US$146. If the Ethereum price against the US Dollar moves below the support level at US$130 and 100 SMA, further declines can be seen.

Conclusion

The hourly MACD is currently in the bearish zone and hourly RSI is near the 50-level. While major support is located at US$130, major resistance is located at US$140. If the Ethereum price moves above the US$140 resistance level, in the near term the price may move towards US$146 and US$150 levels.

 

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ethereum price technical analysis

Ethereum Price can Lose More below US$121

Ethereum price against the US Dollar recovered today slightly and reached a 24-hour high at US$132.62 (Kraken data feed). However, it couldn’t clear above the strong resistance at US$130 and US$131. ETH/USD is facing strong resistance near the US$130 level. At press time, the ETH-USD pair is trading at US$123.35, which is precariously close to the strong support level at US$121. If this strong support is broken below, the Ethereum price may witness an extended decline.   

Ethereum Price – Technical Analysis

  • Ethereum price against the US Dollar has seen a minor correction above the US$130-level. Kraken feed shows that it reached a 24-hour high at US$132.62 at one point in time. However, the resistance at US$134 level was strong and the gains were limited. The 23.6% Fibonacci retracement level of the recent decline from the swing’s high at US$160 to swing’s low at US$121. ETH-USD pair struggled to move above the US$135 level and declined after some time.

 

  • The ETH price also broke below the US$126-level and 100-hourly SMA. Currently, the price is hovering within the US$121 and US$126. However, the best part is that the ETH/USD price is above US$121, which is a strong support level. Therefore, the price is consolidating losses currently.

ethereum price technical analysis

  • A major trend line can be seen whose resistance is located at US$130 on the ETH-USD’s hourly chart. The price may get pushed towards US$135 if it is successful in breaking above the trend line as well as the US$131-level.

 

  • The main resistance level is located at US$140 as well as 50% Fibonacci retracement level of the recent decline from the swing’s high at US$160 to swing’s low at US$121. If the price breaks above this these resistances, there could be bullish momentum.

 

  • While Hourly MACD is located slightly in the bullish zone, Hourly RSI is moving slowly towards the 50-level below.

Conclusion

Ethereum (ETH) price against the US Dollar is trading precariously close to the strong support level at US$121. The 24-hour low is currently showing US$120.51. Therefore, the traders should keep in mind that there could be a downside break below the US$121-level. On the upside, a bullish momentum can be seen if the price successfully moves above US$130 and US$135.

 

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Ethereum ETH Price

Ethereum Price Jumps by Over 16%, Extends Over US$150

Ethereum price has jumped significantly today and broke crucial resistance levels at US$130 and US$140. Currently, the ETH price against the US Dollar is hovering around US$150, up by over 16% in the last 24-hours.

The 1-day technical analysis is suggesting investors buy. While moving averages are indicating a bullish trend in the short term, the Oscillators are neutral. A crucial bullish trend line can be seen on the ETH/USD hourly chart with strong support at US$138. Analysts believe bullish momentum can be seen above US$150 and US$155.

Ethereum Price Rise in the Last 7 Days

Ethereum price against the US Dollar (ETH/USD) has risen by around 71% in the last 7 days. In a matter of 1-week, ETH price has jumped from US$82 to US$150. Cryptocurrency analysts believe if ETH holds on to its current momentum, it can overtake Ripple (XRP) in the coming 48-hours, again becoming the second largest cryptocurrency. If this indeed happens, it’ll be a huge boost for Ethereum in the upcoming New Year.

Ethereum ETH Price

Joseph Lubin, the co-founder of Ethereum, has reportedly said that the token’s future looks bright. Many crypto enthusiasts believe Lubin’s comment is directed towards TRON CEO Justin Sun’s comments. When the price of Ethereum was diving low a week back, Sun asked crypto enthusiasts to leave the drowning ship. He said at that time that “Ethereum and ConsenSys are slowly imploding. The 60% layoff and 90% price drop are just the beginning. That’s what happens when you can’t keep up with DApps and no funding! Developers leaving and project shutdown will be next. Don’t go down with the ship.”

A Double-Digit Bounce Back of Ethereum Price

As Ethereum bounced back its co-founder Joseph Lubin asked investors to take an in-depth analysis of the cryptocurrency especially when the token is entering 2019 with double-digit bounce back.

He made it clear that the technology behind Ethereum is strong and that’s why it has the capability of bouncing back. Joseph also reminded his critics that there could be a bad year but that doesn’t mean that Ethereum price can’t surge back.

 

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Ethereum Price

Ethereum Price Gains Pace above US$100, Coinbase Pro Adds 4 Ethereum Tokens

Ethereum price against the US Dollar (ETH/USD) has gained pace. It has broken above the crucial resistance levels at US$97 and US$99. Currently, it’s trading around US$100 and the upward trending movement is clear. The next nearest targets are US$108 and US$115. Fundamentals are also supporting the upward movement. Coinbase Professional platform has recently listed 4 Ethereum tokens – Zilliqa (ZIL), Maker (MKR), Golem (GNT), and Dai (DAI).

Ethereum Price – Upward Movement Analysis

Ethereum (ETH) price against the US Dollar broke above the resistance area at US$89-90 and went on to trade towards the US$96-97 level yesterday. It settled above the 100-hourly SMA and later came down to test the support area around US$91-92.

Buyers gathered around this support level and successfully broke the crucial resistance levels at US$97 and US$99. Once these resistances are broken, the ETH/USD pair moved above the psychological barrier at US$100 and went on to reach a high at US$104.47. At press time, the Ethereum price is trading at US$100.35 (at Kraken).

Ethereum Price

Ethereum (ETC) Price – Technical Analysis

To get a fair idea about the upcoming price trend of Ethereum (ETH/USD), it is important to check the indicators –

  • A bullish trend line seems to have formed on the ETH/USD hourly chart with a support level at US$97. It’s important to note that this bullish trend line is located close to the 50% Fibonacci retracement level of the recent price movement from the low at US$91 to high at US$104.
    • In case there is a downside movement, a major support level is available at US$100 and US$97.
    • If there is an upward movement above the US$104 level, the ETH/USD price will likely move towards the next resistance levels at US$108 and US$115.
  • A downward Ethereum price movement is also possible. In that case, the initial support level will be formed by the 23.6% Fibonacci retracement level of the recent price movement from the low at US$91 to high at US$104.
  • Hourly MACD is located heavily in the bullish zone.
  • Hourly RSI is reaching close to the overbought zone.

Conclusion

Ethereum price will see an upswing until it is above the US$92 level. The gains may be extended to above US$110. The technical factors of ETH price are getting adequate backing from the fundamental factors. Recently, Coinbase Pro has added four new Ethereum based tokens to the platform. These tokens are Zilliqa (ZIL), Maker (MKR), Golem (GNT), and Dai (DAI). However, they will be available with some geographical restrictions.

Golem and Dai will be available in the United States (except New York), Canada, European Union, United Kingdom, Australia, and Singapore. Zilliqa and Maker will be available in Australia, Singapore, Canada, the European Union, and the United Kingdom. Reports say that these Ethereum tokens may later be made available on both mobile applications and main coinbase.com platform.

 

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