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Tag: ETH

  • BTC and ETH Movement – Altcoins Secure Gains

    BTC and ETH Movement – Altcoins Secure Gains

    The price of bitcoin remained sustained above USD 43,500 and soared above USD 44,500 before retracing downward. It is currently consolidating gains near USD 44,888 (04:25 UTC) and is up over 3% in a day.

    Similarly, the majority of big cryptocurrencies are experiencing difficulties. ETH has re-broken through a key resistance level near USD 3,000 and is now up about 4%. XRP has been unable to break beyond the USD 0.80 resistance. Near USD 1.00, ADA may continue to experience difficulties.

    Bitcoin’s value

    Bitcoin’s price was able to stabilize above the USD 43,500 barrier after a sustained rise. BTC continued to rise and reached USD 45,000, where it was met with heavy selling demand. It is currently consolidating gains near USD 44,500. The next major support level is near USD 43,750, below which the price may drop to USD 43,200.

    On the upside, the price is coming up against resistance near USD 44,500. The primary breakout zone is currently formed above USD 45,000, above which the price could accelerate.

    The cost of Ethereum

    The price of Ethereum has continued to rise beyond the USD 2,850 resistance level. ETH even broke through the USD 3,000 barrier. On the downside, the first level of support can be found near USD 2,900. The next important level of support is at USD 2,850.

    Price of ADA, BNB, SOL, DOGE, and XRP

    Cardano (ADA) has pushed through the USD 0.95 barrier level. The price even broke through the $1.00 mark, but there was no more upward movement. It is now stabilizing near the pivot level of USD 0.95.

    BNB continued to rise above the USD 405 and USD 412 resistance levels. It even reached USD 420 but was met with sellers near USD 425. On the downside, the prior resistance level near USD 400 could act as a support level.

    Solana (SOL) is up more than 7%, with a clear break above the USD 100 level. The next major barrier is near the USD 105 level, beyond which the price may increase to USD 112.

    DOGE is battling to break through the barrier at USD 0.142 and USD 0.145. The USD 0.130 level may provide support if there is a negative correction. USD 0.125 is the next major support level.

    The price of XRP has broken through the USD 0.78 resistance level. It even tried but failed to break through the USD 0.80 barrier zone. It is currently retracing its gains and trading near USD 0.78.

  • BTC and Altcoins Rally Again

    BTC and Altcoins Rally Again

    As the overall crypto market cap approaches $2 trillion, Bitcoin’s (BTC) push past $40,000 with a 15% daily increase, a historic high for the world’s largest cryptocurrency by market value, has been felt in ether and numerous layer-1s. It is consolidating its gains presently and may find support near USD 42,800. The next major support level is near USD 42,200, below which the price may drop to USD 41,200. On the upside, the price is coming up against resistance near USD 44,000. Any further gains could push the price towards USD 45,000.

    As per the New York Times, battling finds continued after peace talks among Russia and Ukraine finished with no outcome other than to meet once more. As indicated by CoinGecko, Bitcoin (BTC) was exchanging at more than $43,000 by late morning Asia time.

    “Seven days into a colossal international/military episode, Bitcoin (BTC) is beating gold,” said macroeconomic planner Lynn Alden on Twitter, highlighting Ukraine and Russia’s similarly solid crypto utilization. On Chainalysis’ crypto reception list, Ukraine is positioned fourth, while Russia is positioned eighteenth.

    According to CoinGecko, if there is a closing over the USD 100 barrier, the bulls may try for a greater advance. Solana was up 11.4 percent to $97 at the time of writing. Near the USD 105 mark, the next major barrier exists. On the other hand, Ether was up 11 percent on the day to $2,900. The price of Ethereum accelerated past the USD 2,750 barrier mark and cleared the USD 2,900 level, bringing its gains to 11%. The price may surge towards USD 3,120 if there is a clear move above USD 3,000. On the downside, the first level of support can be found near USD 2,850. The next important support level is near USD 2,800, below which the price may test USD 2,750.

    Other layer-1s witnessed double-digit increases as well. At the hour of composing, Avalanche was up 17% to $86.70, while Cardano’s ADA coin was up 9.7% to 96 pennies. The cost of Cosmos’ ATOM token expanded by 16% to $31.75.

    The quantity of exceptional Tether moves contacted a month-to-month high, as indicated by Glassnode information, suggesting that merchants who changed out during the primary vulnerabilities of the Ukraine emergency are moving resources around in anticipation of a reemergence into the market.

    By and large, Bitcoin (BTC) costs burst through various obstructions at USD 40,000 and USD 42,000. BTC might address lower, in spite of the fact that plunges beneath USD 42,000 might be limited.

  • Twitter Adds Support for Ethereum Wallets

    Twitter Adds Support for Ethereum Wallets

    Ethereum wallet addresses are now being considered for Twitter-native tipping, the firm said on Wednesday.

    Twitter founder and former CEO Jack Dorsey may be a fervent Bitcoin supporter, but now that he’s relinquished his crown as king tweeter, why not send him an ETH tip? Twitter announced many additional payment methods for its tip jar function today, including Ethereum addresses. Twitter now accepts international financial companies Paga, Paytm, and Barter by Flutterwave, allowing users in Nigeria, India, and Ghana to tip.

    Bitcoin tips are currently accessible on Twitter on the grounds that to Strike’s Lightning Network, which diminishes transaction costs. The joining of Ethereum, then again, supplements Twitter’s move into non-Bitcoin crypto highlights, for example, the famous hexagonal NFT profile pictures.

    In September, the online media behemoth presented bitcoin guidance. Clients may now additionally incorporate their Ethereum wallets into the item. (Kindly remember that it is just accessible on phones.)

    The move comes following Twitter’s continuous assessment of the Ethereum environment. Last month, the business presented a non-fungible token (NFT) check for premium “Twitter Blue” individuals. Ethereum wallet support, then again, is accessible to all clients who consent to the organization’s tipping strategy.

    As per the news, Ethereum Naming Service is not available rather we can only use those long wallet addresses to send tips. Stable Coins and ERC-based tokens can be used to tip.

    As indicated by Johnny Winston, Twitter’s senior item administrator for maker adaptation, the organization is proceeding to extend techniques to get compensated on Twitter, including new choices for makers and fans who wish to use cryptographic money. They’re excited to have the option to add anybody’s ETH address to Tips.

  • Ethereum Classic (ETC) – What does the Chart Shows?

    Ethereum Classic (ETC) – What does the Chart Shows?

    Taking about the technical portion of Ethereum Classic (ETC) and starting that from the Monthly Time Frame, the price is still bullish if we talk about the structure-wise, but if we talk about the momentum and volume, the bears are in full control. As the price has almost retraced back fully which shows that bears are denominating against the buyers. For the past 3 months, the price of ETC has been extremely bearish and this running month is bullish but going with the flow, the price is still very bearish and it’s always good to go with the trend. Now as there is a demand zone below, it’s still some points away and it may take some time for the price to reach that so till then it’s good to go with continuations instead of anticipating any sort of reversal.

    Moving down to the weekly Time Frame, the first demand zone was clearly broken which was at $24.91 which shows that supply is in control, so the price of ETC is around that supply zone and a good reaction can be anticipated off that zone. On weekly, the structure to the downside is very visible and the order flow is clearly to the downside. As in bearish order flow, the price of ETC cycles are Lower Low and Lower Highs, this up move is merely a Lower High as it hasn’t broken any type of structure.

    Moving down to the daily Time Frame, the price of ETC recently reacted slightly from the last supply holding obviously on daily Time frame. This was a move of inducement to trap early sellers. Now it’s tapping in that Supply Zone which was mentioned above. Now within that supply zone, on a lower time frame to refine that, the price has an imbalance there. This Imbalance acts as a magnet and after filling that, it’s very likely that price may hit down.

    Possible Reaction Points

    Now the way price taps in the zone are very important. The way price is heading to this zone is very much corrective with corrective price action. This price action of ETC is very reliable in order to get the idea of whether the zone will hold or not.  Now, this zone is also within the premium pricing as well, and it’s ideal to sell from these areas. Now talking about the invalidation point, if this Daily imbalance gets violated, this whole scenario will get violated and the price may head to the next imbalance point, Talking about the targets the demand pattern at $28.90 can be considered as the first TP, and one can keep holding if BTC movement is preferable as the overall Higher Time frame direction is to the downside.

  • Will Ethereum (ETH) move to touch $3,000

    Will Ethereum (ETH) move to touch $3,000

    Moving to the technical side of Ethereum, starting from the Weekly Time frame, the situation is very similar to BTC. The price recently tapped in a Weekly Order Block and got rejected from it.

    Now the way price tapped into that weekly Order Block was not that momentous and the way price rejected off that Order Block shows bullish strength. Now just below that weekly Order block at the level of $1689, there is much liquidity lying which could drive the price downwards. But could that happen now? Well right now, the majority of the traders are waiting for that level as S&R traders would be waiting for that level to get into longs, while institutions traders would be waiting for the price to grab that liquidity and then get into longs. But as the majority is expecting that, so it’s very possible that market makers might do an upfront run from this Order Block which would kick the FOMO situation is the traders and they would try to get in involved at higher rates and once these things happen, then it’s very possible that Ethereum would get dumped more below that liquidity till around $834 as there is some imbalance there.

    Eth - 1D

    Now the bullish move, for the time being, can end around $3770 as that’s an unmitigated Weekly Order Block, and just below that there is some imbalance left. There is one more Order Block which is around $2927 but as that is in a DISCOUNT PRICING, there is a very high chance that that gets induced just to trap early sellers.

    Moving down to the daily Time Frame, the price has lost its bearish Momentum, broke the Descending Correction, and is on its way to make a new Lower High which may eventually push the price to that Point of Interest.

    Moving more lower to the 4 Hour Time Frame, the price as soon as it touched the Weekly Order Block started to do a Wyckoff Accumulation and price is very likely to bounce now, as on 4 Hour Time Frame, at different Places there are imbalances left which can drive the price to them as a magnet.

    Now as this whole scenario is very much similar to the BTC movement, this is very much high probable, but sudden and unexpected moves in BTC can invalidate this whole scenario.

  • Ethereum (ETH) – Where to Now?

    Ethereum (ETH) – Where to Now?

    The native token of Ethereum is ETH. The Queen of the market that sometimes decouples with the BTC.

    At the time of writing, ETH is being traded at the rate of $3,784 with an increase of almost 1.01% within the last 24 hours.

    The low within this tenure was around $3,687 and the high was approximately $3,807. The coin as being in the watchlist of many traders makes it rank all the way up to number 2nd according to the latest data released by coin market cap. Ethereum is the most widely used blockchain in the market.

    ETH during the month of November approached its new All-time High around the price of $4,868. The trading volume today on the other hand has increased by almost 80%.

    The top exchanges for trading ETH are currently Kucoin, Binance, FTX.

    Technical Analysis –  Ethereum (ETH)

    The analysis that we did on 30th November 2021 is still in play. You can find the analysis here. We can see that the price of Eth has played out exactly as we have said before. Eth has been following BTC in terms of price movement and it didn’t come as a surprise when the price of Eth dropped.

    Now we can see in the chart, that the price of Ethereum (ETH) has been consolidating for a while before dropping down. Now there can be two possibilities from where the price can show a reaction.

    ETH - 1D

    One thing to notice is the mitigation area. This is due to the presence of an imbalance in the price. Now the price can drop to this level. But from where?

    The price can show a reaction from the imbalance and the order block that it has created four days ago when it dropped down and broke the trend line and the structure as well. The second place is the order block which has been formed a few days before this one. Price can show a reaction from that level as well.

    Price Prediction – Ethereum (ETH)

    ETH has been one of the fast gainers in the market. According to wallet investor, the price of ETH is to reach a value of $7,179 in a year. For five year plan, wallet investors think that the price is to reach a value of $19,533. This means that ETH is considered a good investment. Ethereum is the rightful second place holder among the top cryptocurrencies in the market.

  • How Well could Ethereum (ETH) Perform

    How Well could Ethereum (ETH) Perform

    The second frontrunner of the whole crypto market. The second highest dominance in the market is Ethereum (ETH).

    At the time of writing, ETH is being traded at the price of $4,419. The price of ETH has increased by almost 7.08% in the past 24 hours. The daily trading volume has also increased by almost 40.28% in one day. ETH is listed on coinmarketcap at 2nd spot according to market capital and has a market dominance of about 20.05%.

    ETH before the crash had achieved it ATH around the price of $4,372 in May 2021. It later fell down to the price of $1700.48 during the crash and showed reversal from there. As compared to other coins it has been one of the fast gainers and now has achieved a new all-time high around the price of $4,868.

    Technical Analysis – Ethereum

    Ethereum (ETH) had continued to stay ahead of the major market and has printed new all-time high in the process. The price of the coin had been moving in a channel which can be clearly seen in the chart. But the price broke down and now has moved into an accumulation phase. 

    ETH - D

    Now with confluence to the movement of BTC, we can expect a similar movement as the king. It seems that the price would create an AMD pattern. The accumulation phase is currently being completed and we can soon expect the price to move to manipulation where we can expect the price to go near the previous all-time high. After that, the distribution or expansion phase can start which can drive the price down to the daily order block from where we can expect a possible reaction from the market.

    Long Term Prediction – Ethereum (ETH)

    According to wallet investors, the price of ETH is highly bullish in nature and is a safe investment, and will continue to lead the market. According to their predictions, the coin will reach a value of $7,311 in one year. For a five-year plan, ETH is expected to reach a value of $19,232.

  • Update on the Crypto Market: What’s next

    Update on the Crypto Market: What’s next

    The crypto market is very hard to judge with a lot of volatility around the space. But the market updates keep the investors interested. If we go back into the past, things are improving for the cryptocurrency industry. And, Bitcoin and altcoins are getting more approval than ever before.

    Bitcoin (BTC) has been trading in the key support region of $46,666 and resistance of $50,000. BTC crossed the $50,000 mark on August 23rd, 2021 for the first since the last three months.

    Regulation heralds the coming age of any new financial instrument. Some might argue that cryptocurrencies do not need help from the authorities. It may sometimes. But for cryptocurrencies to thrive in the masses, they need to be regulated.

    Lately, there has been a lot of drama in the Crypto Market. China has threatened Bitcoin and completely ban the mining process.

    Increased regulatory scrutiny from China is changing the bitcoin mining landscape. The bans aren’t exactly shocking, but their sudden manifestation and stringency have left miners in the region reeling.

    Apart from the problems that miners are facing in China. What effects will this ban have on the crypto society in the future? That’s the crucial question. Well, since the ban news first surfaced, it had its impact on the market for a while. But there’s much optimism considering the circumstances in the US.

    It is estimated that a substantial minority around 30% to 40% of China’s orphaned hash rate will end up in the United States, with Texas leading the charge. While the rest of the miners are expected to set up in the Central Asian region.

    The U.S. is positioned to benefit greatly from the shakeout. We anticipate over 40 exahashes will be managed by U.S.-based mining pools by the end of 2021.

    Recently, there has been a debate in the US government regarding the tax reporting of cryptocurrencies. For now, the US Congress blocked the crypto amendment. It was because of the undefined and broad language of the crypto bill.

    Recently there’s been a lot of hype around Non-Fungible Tokens. Popularly known as NFTs. What we’re saying here is that the blockchain world is evolving more than ever. Bitcoin’s adoption by financial institutions is growing. PayPal is a big example recently.

    The US government reportedly is pushing to include global crypto data sharing rules in the $3.5 trillion budget package. The Biden Admiration is keen to get hands-on the proper legislation of the crypto markets. The Treasury wants crypto businesses to report information on foreign account holders. So, the U.S. government can share information with global trading partners.

    This is a good signal for the crypto community in the long term as we’re heading towards crypto adoption. Now the US government is serious about the crypto market and thinks of it as a major revenue tax stream.

    However, former US President Donald Trump, in a recent interview, said that he’s not a big fan of Bitcoin. His stance regarding the crypto industry has been rather strict. If we see Donald Trump once again as the US president, things might get different.

    Trump made a statement saying that he would like to see US currency thrive. He doesn’t like it because it’s another currency competing against the dollar. With hurdles, governments will gradually accept the reality and how crypto market can add billions to their economy.

    There’s this latest update from Twitter. The social media giant could soon enable users to tip content creators using Bitcoin. This will be added via the latest update to Twitter’s Tip Jar feature.

    Market Situation

    Moving towards Bitcoin, things are looking good as of September 1. We might head towards a new bull run. Ethereum with the ticker name ETH has really kicked off and has lowered the dominance of BTC to 41.9%. And, Ethereum dominates by 19.1%.

    Ethereum dominance means that altcoins are the ones that will benefit the most from the bull run. When there is higher BTC dominance, it means that Bitcoin will have a higher trading volume.

    As of September 1, Ethereum’s price breaks $3,500 and hits 3-month highs against Bitcoin. Is Ethereum’s rally signaling the next bull market phase for Bitcoin above $50,000?

    Bitcoin has been seeing some consolidation below $50,000 as a psychological barrier. However, during this pullback, several big altcoins have been surging in price, suggesting that the alt season isn’t over yet.

    Meanwhile, Bitcoin’s price faces a crucial resistance to breakthrough. While Ether is already cracking that resistance, hitting a three-month high versus BTC. And, facing a run toward the next resistance around the all-time high.

    The primary question is now whether this Ether breakout is a signal for Bitcoin to follow suit. And, break through the resistance barriers in September. Historically, September has been a corrective month. Meaning that such a breakout may catch many traders off guard. The critical resistance zone at $51,000 is key to break for Bitcoin to push further upwards.

    The daily chart for Bitcoin shows a consolidation between $44,000 and $50,000. This consolidation resulted in a big breakout of altcoins. Some altcoins already broke their previous all-time highs.

    The bearish divergence in the chart will only be confirmed when the recent higher low is invalidated and broken downward. At that point, the uptrend is officially reversed.

    Currently, the market is consolidating after the rally from Bitcoin’s July lows. The bearish divergence remains unconfirmed until Bitcoin loses the lower bound of the support range, which can be found at $44,000.

    Whereas, the total cryptocurrency market capitalization shows a bullish continuation with constant higher lows and higher highs.

    The crucial breaker for the market cap to break through is the resistance zone, around $2.12 trillion. Once that one breaks, more upside is likely toward new all-time highs. This structure might also foreshadow Bitcoin’s price trajectory. As the Bitcoin and USDT charts are showing upside.

    On the other hand, Ethereum crossing the crucial breaker at $3,400 is a big signal for the crypto market. The difference between Bitcoin and Ethereum right now is that Ether is hitting higher highs, while Bitcoin remains in a sideways range.

    So, the critical breaker for Ether is the previous resistance zone at $3,400. As long as that sustains support, continuation toward all-time highs becomes increasingly likely.

    However, if a breakdown beneath $3,400 takes place, a potential bearish divergence comes into play. This could end in a correction to $2,600. Such a correction would also affect Bitcoin, which also has a few critical levels to watch as support.

    Conclusion

    To conclude our analysis of the market, if Bitcoin doesn’t go vertical or has a significant impulse wave. Altcoins are in a splendid position to outperform BTC in the short term. And that’s what the market is currently seeing.

  • Ethereum coin price prediction: Price target at $2,250

    Ethereum coin price prediction: Price target at $2,250

    Ethereum coin continues its downtrend although at a decreased rigor. At the time of writing, Ethereum coin stands at a price level of $1,818. The price has fallen by 5% in the past twenty-four hours while the trading volume has decreased by 10%. ETH coin continues to vie for bullish momentum but with strong bear dominance, a bullish divergence cannot be sustained by the cryptocurrency.

    Ethereum coin technical analysis

    The market sentiment for cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, sixteen are giving out an indication of sell with the remaining ten indicators standing at a neutral position and zero signals at bullish indication.

    Ethereum Coin Technical Analysis
    Ethereum Coin Technical Analysis

    Although the market outlook for Ethereum coin is bearish in the shorter timeframes, would the bearish divergence continue or can the bulls be expected to dominate the market? Per a trader’s analysis, ETH has been identified to be operating in a falling wedge formation. The falling wedge is a bullish pattern. Per the analysis, Ethereum coin has also formed a coherent wave count inside the falling wedge. A pullback from the lower boundary of the formation can be expected in the upcoming days. If the pullback is successful and the onset of bullish momentum begins, a break out from the formation will become likely. In that case, the potential price target set at $2,250 will be activated.

    What is going on in Ethereum coin’s space? 

    Ethereum – the second-largest cryptocurrency – is an integral part of the crypto space because of its offering of decentralized finance through smart contracts. The aim of the network is to become the global platform for decentralized apps. The decentralized finance lending network Aave has announced to “build Twitter on Ethereum”. The co-founder of Aave, StaniKulechov, has tweeted the platform will give greater control to the audience. The news is one example of what Ethereum is capable of while the crypto space and its uses are still being explored.

  • Ethereum (ETH) Coin – Developments to watch out for

    Ethereum (ETH) Coin – Developments to watch out for

    Where Ethereum (ETH) – the queen of the market – touched the sky at $4,000 during the bull run of 2021 has now lost more than half of its value. The cryptocurrency is struggling to maintain its price above $2,000. At the time of writing, Ethereum stands at a price level of $1,942. The price has declined by 4% in the past twenty-four hours while the trading volume has also been dropping.

    The market outlook for the queen of cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen indicators are standing at a position of sell with nine indicators giving out a neutral signal and two signals bullish at buy. The oscillators are neutral while the moving averages are strongly bearish.

    Major developments to watch out for

    Although Ethereum is suffering from increased bearish momentum, it still rules the market as its queen. The bearish momentum may have deterred some investors but definitely not all. The very first Ethereum Exchange-Traded Fund of South America has been approved by Brazil’s Securities and Exchange Commission. The regulator had previously given the go-ahead to Bitcoin’s ETF and now an ETF that would track the price of Ethereum has also been given the green light.

    The bearish scenario of Ethereum has only incentivized the whales to hold more of the cryptocurrency. Santiment’s data reveals that the top ten largest Ethereum wallet owners are now in hold of 20% of Ethereum’s offering. These top ten whales have bought nearly 2% of Ethereum’s supply during the market dip and the accumulation has been going on since 2017.

    Coinbase Wallet has added support for the famous scaling solution of Ethereum – Polygon. With the help of Polygon, Ethereum can be transformed into a multi-chain network or “the internet of blockchain”. Hence, increasing support for Polygon translates into good things for Ethereum.