Ethereum Price Analysis for April, 24th – ETH Counts On Hidden Support

Ethereum Price Analysis for April, 24th – ETH Counts On Hidden Support

Ethereum Price Analysis for April, 24th – ETH Counts On Hidden Support

By Dmitriy Gurkovskiy, author at RoboForex Blog

On Friday, April 24th, the Ethereum keeps growing smoothly, generally trading at 188.70 USD.

On D1, ETH/USD keeps growing. The quotations are moving inside an ascending channel, periodically correcting. Currently, they are testing 50.0% Fibo. The MACD is still above zero. Judging by all factors, we may conclude that there will be a correction from 50.0% along the Fibo levels. Then the quotations may test the lower border of the ascending channel and go on growing. The aim remains at 200.00 USD. However, a deeper pullback to 38.2% is also possible.

ETH/USD Daily price chart

On H4, an uptrend keeps developing. On the Stochastic, there has formed a Black Cross, which may be another signal of a correction to the lower border of the channel beginning. The aim of the decline may be at 164.00 USD. However, the price may keep growing to 200.00 USD without a substantial correction.

ETH/USD Н4 price chart

Among fresh fundamental news, note that the ETH has been acknowledged as legal property, i.e. from now on you may officially own it and make operations with the coin. This was the judgment of the court in the Chinese town of Shēnzhèn. The altcoin is now under legal protection.

This is yet a unique case of the ETH being acknowledged as an asset. Most probably, it will take months to make the same decision on other levels.

Today, on April 24th, the Deribit exchange will carry out the expiration of a large number of Ethereum options – some 95 thousand contracts. This is the largest expiration of such a derivative during the last 7 months. At the current rate, its execution is estimated at 18 million USD.

The options for these dates themselves look rather liquid, that is why the ETH price may change drastically intraday and further. However, there is another scenario: the market may consider that has made enough money, and the ETH price will remain without change.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Chief Analyst at RoboForex

Source: themerkle.com

Author: Dmitriy Gurkovskiy


Ethereum (ETH) Price Surprisingly Accurate Indicator Revealed by Ethereum (ETH) Educator

Ethereum (ETH) Price Surprisingly Accurate Indicator Revealed by Ethereum (ETH) Educator

Vladislav Sopov

The idea of correlation between the dynamics of crypto-related web traffic and token prices isn’t new for experienced analysts. Here is another reliable metric for ETH

Anthony Sassano, a co-founder of the EthHub educational portal that covers all aspects of Ethereum (ETH) network progress and the host of the popular Into The Ether podcast, noticed an interesting correlation between web traffic and Ethereum (ETH) price movements.

Mr. Sassano announced that he witnessed a 30% surge in traffic on the EthHub portal between April 5th and April 24th. This coincided with a 30% increase in the Ethereum (ETH) price during the same period.

Eric Wall of Arcane Assets asked about the pages that contributed the most to this brilliant growth. Mr. Sassano noticed that ‘How to buy ETH’ usually gets more popular just before a price spike.

Typically, traffic-based indicators have proven to be accurate for Bitcoin (BTC) price dynamics. Many analysts are trying to track interest in Bitcoin (BTC) in terms of Google Trends.

If this plays out, the current situation looks amazing for Bitcoin (BTC) bulls. As reported by U.Today, the interest in the Bitcoin (BTC) halving on Google Trends one month prior to the third halving, which will occur on May 13, 2020, is outperforming the 2016 spike by a wide margin.

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Source: u.today

Author: Fri, 04/24/2020 – 12:21


Cryptocurrency Market Update: Bitcoin Has Clear Path To $8,000, Ethereum And Ripple Facing Key Barriers

Cryptocurrency Market Update: Bitcoin Has Clear Path To $8,000, Ethereum And Ripple Facing Key Barriers

  • Bitcoin price encounters resistance immediate after breaking above $7,700 but support at $7,500 protects the bullish effort.
  • Ethereum proves the ability to recovery after testing $170 support and rising to levels close to $190, although $200 critical level is it at bay.
  • The cryptocurrency market is in the green as the European session takes over from the Asian session. The last two days have been particularly fruitful for the digital asset market. For example, Bitcoin managed to detangle itself from the crude oil crash on Monday that saw traditional stocks and futures market suffer dearly.

    The total market capitalization has extended its leg upwards hitting $216 billion at the time of writing. On the other hand, the trading volume has remained relatively stable only rising by $4 billion from $150 recorded on Thursday.

    BTC/USD is trading at $7,534 at the time of writing. It has advanced upwards by 0.55% on the day from an opening value of $7,493. The bullish action on Thursday scaled the levels above $7,700 but the momentum became unsustainable. Support has been established at $7,500 to give the bulls time to gather the strength for another assault at $8,000 preferably before the end of April.

    ETH/USD has been among the best-performing cryptocurrencies on the market in the past seven days. The crypto began by extending the bullish action above $191 last week. However, a retreat so it confirm the support at $170 before rising top the current levels at $188. The main aim is to break the resistance at $200 but first the stubborn seller congestion in the zone between $190 and $192 must be dealt with and overcome. The prevailing technical picture is bullish in spite of the stalling under $190.

    XRP/USD has accrued 1.35% in gains on Friday; mainly during the Asian session. The bullish wave that swept across the market on Thursday pulled Ripple above the former hurdle (now support) at $0.19. Price action continued but failed to break the next seller congestion zone at $0.20. At the moment, XRP/USD is trading at $0.1954 amid shrinking volatility. In other words, the barrier at $0.20 is likely to remain in favor of a consolidation period above $0.19.

    Summary

    Cryptocurrency Market Update: Bitcoin Has Clear Path To $8,000, Ethereum And Ripple Facing Key Barriers

    Article Name

    Cryptocurrency Market Update: Bitcoin Has Clear Path To $8,000, Ethereum And Ripple Facing Key Barriers

    Description

    Author

    Publisher Name

    Publisher Logo

    John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

    Source: coingape.com


    Bitcoin, Ethereum & Litecoin - American Wrap: 4/23/2020

    Bitcoin, Ethereum & Litecoin – American Wrap: 4/23/2020

    Bitcoin moved higher today in a bullish move which saw BTC/USD take out the previous wave high of 7466.00. Now it seems the pair looks on its way to test the psychological 8K level. The level is planted between the 138.2% and 161.8% Fibonacci extension levels. 

    Looking closer at some of the technical indicators now and the price is still trading above both the 55 and 200 moving averages. The relative strength index indicator has now moved into overbought territory. This means we could see a small retracement before the trend continues in its upward trajectory. Another positive note is the volume spike marked by the circle at the bottom of the chart. It is good to see breakouts backed by good volume as its a good confirmation signal.

    Ethereum price is trading in the green by 2.35% in the session on Thursday. ETH/USD bulls pressing to break down the heavy supply range, $175-190. The upside pressure is resuming following the commence higher on Wednesday.

    Litecoin price is trading in positive territory by 3.35 % in the session on Thursday.  LTC/USD has extended to the upside, following the strong gains that come into play on Wednesday. The price is set for another critical test of a big area of resistance just ahead at $45-46.

    Image sourced by Pixabay

    Source: www.benzinga.com

    Author: FXStreet , Benzinga Contributor

     

    {{following ? “Following” : “Follow”}}


    AI Says Only Bitcoin, Ethereum, And Tezos To Rise Next Week

    AI Says Only Bitcoin, Ethereum, And Tezos To Rise Next Week

    While bitcoin (BTC), ethereum (ETH), and tezos (XTZ) could go up in the next week, an artificial intelligence (AI) system predicts that the same fortune doesn’t await the rest of the top 10 coins.

    Crypto data firm Nomics has announced on Wednesday the beta release of 7-day cryptoasset price predictions, utilizing a machine learning model known as long short-term memory (LSTM). This means that it examines huge quantities of data upon which it learns to predict a price.

    After acknowledging that the predictions are not investment advice, users can find here a predicted 7-day price, a predicted 7-day percentage change from the current price, and the mean 30-day error expressed as a percentage for each asset. Individual cryptoasset pages also come with the ability to track historical accuracy.

    Let’s take a look at what the AI sees in the future for the top 10 coins by market capitalization not taking tether (USDT) into consideration, as it’s a stablecoin, pegged to the USD.

    Not only is the world of crypto still evolving, but the crypto price prediction is still developing, “ML-generated cryptoasset price predictions are uncharted territory” as Nomics says, the system is new, and it will require more learning with time. It remains to be seen how accurate the current predictions will be, and how much more precise will the AI become with time.

    Meanwhile, BTC rallied on Thursday sharply, almost recovering all losses it suffered on Black Thursday in March. Furthermore, observing the on-chain fundamentals for the week, crypto market researcher Glassnode found a significant increase in activity on the Bitcoin network, with the numbers of transactions and of active entities rising, which they believe is expected given the upcoming mining reward halving and the revived retail interest in BTC. “This represents not only recovery to pre-crash levels, but also a significant increase in activity as compared to the start of 2020,” says Glassnode.

    Source: cryptonews.com

    Author: By Sead Fadilpašić


    Ethereum Price Analysis for April, 24th – ETH Counts On Hidden Support

    Previous
    Ethereum newsTwo Ethereum Pools Now Account for Over 50% of Total Hashrate
    Next
    Ethereum newsEthereum: Vitalik Buterin mocks self-proclaimed Bitcoin inventor and 'trolls'
    Did the article help? Rate it
    1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
    Loading...
    Add comment

    Get Awesome Reviews

    Coins, exchanges, wallets, crypto games, crypto cards.
    Search for reviews and share your own experience.

    GO TO REVAIN