Analysts Expect Ethereum to “Teleport” Higher as Bitcoin Rockets Towards $13k

Analysts Expect Ethereum to “Teleport” Higher as Bitcoin Rockets Towards $13k

Ethereum’s price action has been incredibly lackluster compared to that seen by Bitcoin and the rest of the crypto market.

While BTC pushes up towards fresh yearly highs of $13,000, the rest of the crypto market has remained fairly stagnant.

In particular, ETH has only seen tempered gains and remains well below its 2020 highs of $490 set at the peak of the DeFi hype cycle.

It is important to note that Ethereum is now gaining some stability above $380, but its lack of momentum compared to that seen by Bitcoin remains concerning to some investors.

That being said, analysts now widely believe that the cryptocurrency could be overdue for a serious move higher, potentially sending it past $400.

One trader said that he is watching for ETH to “teleport” past its key $400 resistance in the coming days, which could spark some life into altcoins and maybe even renew the DeFi hype cycle that fizzled out over the past few weeks.

Today’s Bitcoin rally to $12,700 was news-based, as it came about close on the heels of reports regarding PayPal’s foray into crypto.

Although this news only had a noticeable impact on Bitcoin, it is equally as relevant for Ethereum, as PayPal will now allow users to buy, sell, and store BTC and ETH – as well as a few other digital assets.

At the time of writing, Ethereum is trading up just over 5% at its current price of $388.

Its upsurge today has been promising, as it sold off yesterday in tandem with Bitcoin’s push past $12,000.

It still has a long way to go before it can reach parity with BTC’s gains over the past week.

While sharing his thoughts on Ethereum’s present technical outlook, one analyst explained that he is watching for it to see a sharp upswing past $400 before facing any serious resistance.

He notes that the resistance just above its current price is quite weak.

“ETH – Done messing around. Time to teleport Ethereum to $400+. Not much resistance on the way towards the EQ.”

Ethereum

Image Courtesy of UB. Chart via TradingView.

If Ethereum breaks $400 and can flip this level into support, it could act as a launchpad that sends the cryptocurrency rocketing higher in the weeks ahead.

Source: icryptodesk.com

Author: admin


Ethereum Prints Bullish Technical Pattern, Why It Could Rally Past $385

Ethereum Prints Bullish Technical Pattern, Why It Could Rally Past $385

Ethereum Prints Bullish Technical Pattern, Why It Could Rally Past $385

Ethereum is gaining bullish momentum above $375 against the US Dollar. ETH price is showing positive signs and it might even climb above the $385 resistance.

  • Ethereum started a fresh upward move after forming a support base near $368.
  • The price is now trading well above the $375 level and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct a few points, but there are high chances of more upsides above $385.
  • Ethereum started a decent upward move after it formed a strong support base above the $365 level. ETH price broke the $372 pivot level to start the current recovery wave.

    The bulls gained strength, resulting in a push above the $375 resistance. Moreover, there was a break above a major bearish trend line with resistance near $372 on the hourly chart of ETH/USD.

    Ether price surpassed the 50% Fib retracement level of the downward move from the $385 swing high to $365 swing low. It is now trading well above the $375 level and the 100 hourly simple moving average.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The price is also trading above the 76.4% Fib retracement level of the downward move from the $385 swing high to $365 swing low. A high is formed near $382 and the price is clearly gaining momentum. The next immediate resistance is near the $385 swing high, above which ether is likely to accelerate higher (similar to bitcoin).

    The next major resistance is near the $392 level. A clear break above the $392 resistance could open the doors for a test of the $400 barrier in the coming sessions.

    If Ethereum fails to clear the $385 resistance levels, it might start a short-term downside correction. An initial support is near the $378 zone.

    The main support is near the broken trend line, $375, and the 100 hourly simple moving average. If ether fails to stay above $375, it could retest the $368 and $365 support levels.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is well above the 50 level.

    Major Support Level – $375

    Major Resistance Level – $385

    Source: inula.org

    Author: About The Author

    admin


    CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News

    CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News

    More information – http://eth-found.live/

    Ethereum’s blockchain can run smart contracts, or computer code designed to run a certain way autonomously. Thus far, smart contracts have been primarily used to run dApps – also called decentralized applications – such as CryptoKitties and others. The smart contracts have been programmed to act as a sort of trophy, proving ownership. This is unique in the world of digital technologies, as it allows the owner of the said trophy to transfer ownership using the smart contract via the Ethereum blockchain.

    Development was entirely funded by a crowd sale, that resulted in 72 million pre-mined coins reaching the hands of long-term holders.

    In 2016, an exploit in The DAO project – a decentralized autonomous organization – resulted in over $50 million worth of the Ethereum supply being stolen. Ethereum was later split into two separate blockchains, resulting in the new version becoming the true Ethereum with the ETH coin ticker, while the original blockchain continued on as Ethereum Classic with the ETC coin ticker.

    Buterin did indeed create Ethereum and penned its whitepaper, many are credited with being founders of Ethereum, including Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin, Gavin Wood, and Jeffrey Wilke – one of the largest lists of founding members out of any crypto project.

    Later, the Enterprise Ethereum Alliance was founded to help develop standards for use across the Ethereum blockchain, such as the ERC-20 standard that is used to develop new tokens operating on the Ethereum protocol.

    #eth #ethereum #vitalik #buterin #eth2 #blockchain #technology

    What future awaits cryptocurrencies?
    GOODBAD

    Source: sgbitcoin.com


    Ethereum Lags Behind Bitcoin, But Analysts Think a Big Move is Coming – news.kuaidiantou.vip

    Ethereum Lags Behind Bitcoin, But Analysts Think a Big Move is Coming – news.kuaidiantou.vip

  • Ethereum’s price has been significantly underperforming that of Bitcoin as of late
  • While the benchmark cryptocurrency is now trading at fresh yearly highs, Ethereum is still down nearly 30% from its 2020 highs
  • This underperformance is quite surprising to investors, as this latest Bitcoin rally is one of the few that has occurred in full isolation
  • Altcoins have not been able to match its momentum throughout the past few days, but it remains unclear as to how long this trend will persist
  • Today, news regarding PayPal adding support for Bitcoin helped move its price higher, but they are also adding support for Ethereum
  • Once the market takes notice, it could help send ETH flying higher
  • Bitcoin is currently trading at a new yearly high, with bulls being in full control of its uptrend as sellers struggle to gain any traction. Ethereum, however, is still consolidating at $380.

    The lack of selling pressure above $12,000 is a promising sign for Bitcoin, but it is imperative that Ethereum rallies and matches its momentum, or else serious downside could be imminent.

    Currently, ETH is trading above its key support at $380, which has acted as heavy resistance on multiple occasions as of late.

    One analyst believes that a continued bout of trading above this level could lead it up towards $410 in the coming few days.

    At the time of writing, Ethereum is trading up just under 4% at its current price of $382.

    This is around where the crypto was trading just a few days ago, while Bitcoin hovered within the lower-$10,000 region.

    Its inability to gain any momentum is interesting, because the PayPal news that helped drive Bitcoin higher today was equally relevant to Ethereum, as the FinTech giant is also adding support for buying, selling, and storing ETH.

    While sharing his thoughts on where Ethereum might trend in the near-term, one analyst explained that $380 is the crucial level to defend.

    He notes that a continued bout of trading above this level could open the gates for a test of its next resistance at $388, followed by a move up towards $410.

    “ETH: My next gameplan looking a little something like this if we can flip resistance,” he said while pointing to the levels marked on the below chart.

    Ethereum

    Image Courtesy of Chase_NL. Source: ETHUSD on TradingView.

    The coming few days should provide serious insight into Ethereum’s outlook, as its continued reaction to $380 will be critical for understanding where it trends in the weeks ahead.

    Source: news.staging.app.kuaidiantou.vip


    Ethereum, EOS & Litecoin – American Wrap: 10/21/2020

    Ethereum, EOS & Litecoin – American Wrap: 10/21/2020

    Ethereum (ETH) is changing hands at $381. The second-largest digital asset with the current market capitalization of $17.7 billion has gained over 3% in the last 24 hours and stayed mostly unchanged on a week-to-week basis. Despite the recovery, ETH is still locked in the range. The trading activity has been stable recently, with an average daily trading volume of $13 billion, which is in line with the long-term average figures.

    EOS, like the rest of the market, is heavily bullish and has gained around $120 million in market capitalization over the past 24 hours with $2 billion in trading volume. The digital asset seems ready for a greater bull breakout in the near future according to several indicators.

    The entire market capitalization has jumped by around $20 billion in the past 24 hours. PayPal has finally stated that it will indeed support the use of cryptocurrencies like BTC, ETH, BCH, and LTC to buy from more than 26 million merchants around the world.

    Image sourced from Pixabay

    © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Source: thebitcoindesk.com

    Author: Delia


    Ethereum, EOS & Litecoin - American Wrap: 10/21/2020

    Ethereum, EOS & Litecoin – American Wrap: 10/21/2020

    Fibo Quantum

    Ethereum (ETH) is changing hands at $381. The second-largest digital asset with the current market capitalization of $17.7 billion has gained over 3% in the last 24 hours and stayed mostly unchanged on a week-to-week basis. Despite the recovery, ETH is still locked in the range. The trading activity has been stable recently, with an average daily trading volume of $13 billion, which is in line with the long-term average figures. 

    EOS, like the rest of the market, is heavily bullish and has gained around $120 million in market capitalization over the past 24 hours with $2 billion in trading volume. The digital asset seems ready for a greater bull breakout in the near future according to several indicators.

    The entire market capitalization has jumped by around $20 billion in the past 24 hours. PayPal has finally stated that it will indeed support the use of cryptocurrencies like BTC, ETH, BCH, and LTC to buy from more than 26 million merchants around the world.

    Image sourced from Pixabay

    © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Source: cryptoupcoming.com


    Analysts Expect Ethereum to “Teleport” Higher as Bitcoin Rockets Towards $13k


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