TA: Ethereum Looks Ready For Another Leg Higher Unless It Dives Below $365

TA: Ethereum Looks Ready For Another Leg Higher Unless It Dives Below $365

Home / Ethereum / TA: Ethereum Looks Ready For Another Leg Higher Unless It Dives Below $365

Ethereum failed to clear the $388 resistance zone against the US Dollar. ETH price is currently holding the $365 support and it could resume its upward move.

  • Ethereum corrected lower below the $380 and $375 support levels.
  • The price is currently just above the 100 hourly simple moving average, and well above $365.
  • There was a break below a short-term rising channel with support near $378 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase unless it dives below the $370 and $365 support levels.
  • There was another attempt by Ethereum to surpass the $385 and $388 resistance levels, but it failed to gain momentum. ETH price traded as high as $388 and recently declined below the $380 support.

    There was also a break below a short-term rising channel with support near $378 on the hourly chart of ETH/USD. Ether price spiked below the $375 level and the 100 hourly simple moving average. It traded as low as $373 and it is currently recovering higher.

    There was a test of the 50% Fib retracement level of the recent decline from the $388 high to $373 low. It seems like the price is facing hurdles near the $380 level.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The next key resistance is near the $382 level since it is close to the 61.8% Fib retracement level of the recent decline from the $388 high to $373 low. A successful break above the $382 level might increase the chances of a break above the $388 resistance in the near term.

    In the stated case, ether buyers are likely to aim a break above the $395 monthly high. An immediate hurdle above the $395 resistance is near $400.

    Ethereum is holding a couple of important supports near the $373 and $372 levels. If there is a downside break below the $373 low, the price might even decline below $370.

    The main breakdown support is near the $365 level, below which the price is likely to continue lower towards the $355 and $350 levels in the coming sessions.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone.

    Hourly RSI – The RSI for ETH/USD is rising and approaching the 50 level.

    Major Support Level – $373

    Major Resistance Level – $388

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    Something special seems to be brewing in the crypto industry lately. Bitcoin is becoming a …

    Source: icryptodesk.com

    Author: admin


    Ethereum’s on-chain activity surges and bullish sentiment spikes

    Ethereum’s on-chain activity surges and bullish sentiment spikes

    The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicates that discussions around Ethereum have switched from highly bearish to predominantly bullish. Historically, this hasn’t meant good news for the token’s price.

    Ethereum’s on-chain activity, measured by unique daily addresses, has rebounded from its nose dive at the end of summer. The latest surge has taken Ethereum to a 3-week high of 420,610 addresses per day — marking a 25.2% growth compared to the day prior.

    Another noticeable trend is Ethereum’s 365-day dormant circulation, which tracks the renewed movement of all tokens that have previously not changed addresses for more than a year. This number has stayed relatively low since the October 7th bottom, with a recorded daily average of just 13,438 ETH, suggesting that long-term holders are still sitting on their bags despite the recent price bounceback.

    Ethereum’s Network Profit/Loss, which computes the average profit or loss of all coins that change addresses daily, are a good way of seeing which holders are panic selling at a loss. Amid a market-wide crash on March 13th, 2020, Ethereum’s network realized a cumulative loss of -$2,932,200 based on NPL: a 3-month low. In a similar fashion, Ethereum’s network realized a cumulative loss of $-998,998 on October 7th, shortly before the coin bounced back above $350.

    Source: www.bit-cointalk.com


    Swiss luxury watchmaker Breitling issues digital authenticity certificates on Ethereum

    Swiss luxury watchmaker Breitling issues digital authenticity certificates on Ethereum

    Breitling, the 136-year old luxury watchmaker based in Switzerland, has begun issuing digital certificates on the Ethereum blockchain that can be used to verify its new watches’ authenticity.

    Breitling has partnered with non-profit Arianee for the initiative. Arianee’s protocol leverages Ethereum’s ERC-721 standard, according to co-founder and CMO Emmanuelle Collet. ERC-721 is used for issuing non-fungible tokens (NFT).

    By using Arianee’s blockchain platform, Breitling ensures that its digital certificates are immutable. “Watch owners can simply scan their electronic guarantee card with their smartphone camera to automatically download the private, encrypted digital wallet, which safely stores the digital passport,” the watchmaker said.

    The digital certificates are transferable and contain information such as a watch’s serial number and digital warranty. Watch owners are able to control their personal data and remain anonymous, said Breitling.

    © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    Source: news.yahoo.com

    Author: Yogita Khatri


    More $4 billion worth of Bitcoin and Ethereum has been absorbed into DeFi so far.

    More $4 billion worth of Bitcoin and Ethereum has been absorbed into DeFi so far.

    The frenzy around DeFi might be waning but make no mistake, DeFi is still going strong.

    Around $4 billion worth of Bitcoin and Ethereum has been injected into DeFi protocols over the last five months. Surprisingly, the two largest crypto coins by market cap are yet to hit half of the total value locked in DeFi. According to DeFi Pulse data, Bitcoin and Ethereum collectively account for only 44% of the sector’s total value locked.

    DeFi pulse also revealed that the number of Ether poured into DeFi protocols since June has seen a 218.5% jump. Only 2.7 million ETH were locked up in DeFi back in June. A further 5.9 million ETH has been committed in the last five months, taking that total amount to 8.6 million ETH.

    Bitcoin has followed a similar trend as well, posting a 3000% surge in the same period. In June, only 3,000 BTC were locked up in DeFi. Since then, a further 153,800 BTC has been added, summing up to 158,800 BTC.

    Currently, Ether accounts for almost $3.25 billion of the total value locked in DeFi protocols. This is equivalent to 7.6% of the crypto’s market cap. Bitcoin, on the other hand, has $1.81 billion locked up in DeFi that translates to 0.85% of Bitcoin’s market cap. The sector has a total of > $11.3 billion locked up in its decentralised finance protocols.

    Unfortunately, the analytics hub doesn’t show the contribution of other crypto assets in DeFi. It is, therefore, hard to determine what crypto assets represent the remaining 56% and their respective percentage shares.

    Yesterday, Coinbase recorded a new high of the largest sum of BTC tokenized by one entity in a single day using the Wrapped Bitcoin (WBTC) protocol. The crypto exchange and investment platform generated 4,997 WBTC translating to $57.1 million worth of Bitcoin.

    Source: www.bitcoindicate.com

    Author: admin


    TA: Ethereum Looks Ready For Another Leg Higher Unless It Dives Below $365


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