Ethereum is nowhere near a new all-time high – Latest News, Breaking News, Top News Headlines

Ethereum is nowhere near a new all-time high – Latest News, Breaking News, Top News Headlines

The bull season for altcoins has already begun, some performing better than others of course. Ethereum stands out among alternative cryptocurrencies, with a gain of more than 68% so far this year, getting closer and closer to its all-time high.

At the time of this writing, ETH is trading at $ 1,220.40, accumulating a slight daily loss of 0.28%, but with a bullish technical structure that tells us that the rise could resume soon.

What we see today as a huge revaluation of the ETH price is barely meaning half or less of a long-term boost.

Even with the previous all-time high unbeaten, Ethereum has not even managed to confirm an effective resumption of its historical trend, one that makes it set price records quite far from the previous ones, price levels to which it certainly never returns.

Ethereum's monthly chart tells us that hitting a new all-time high will be an easy task.  .  Source: TradingView.Ethereum's monthly chart tells us that hitting a new all-time high will be an easy task.  .  Source: TradingView.Ethereum’s monthly chart tells us that hitting a new all-time high will be an easy task. . Source: TradingView.

In the weekly candle chart we also see a clear succession of increasingly higher lows and highs, which speaks of a medium-term uptrend.

The week that is about to end was a pullback in the crypto market. On the Ethereum vs Dollar chart, it appears that this process has already finished. This vision starts from the premise of the strong bearish rejection that the candle is leaving.

Ethereum vs Dollar weekly chart.  Source: TradingView.Ethereum vs Dollar weekly chart.  Source: TradingView.Ethereum vs Dollar weekly chart.  Source: TradingView.Ethereum vs Dollar weekly chart. Source: TradingView.

To forecast what might happen in the near future, let’s go down to the daily candle chart. Here we note that the short-term trend is also bullish, despite the negative intentions that we saw this week.

After the fall that reached a low of $ 915 on January 11, Ethereum undertook a rapid recovery.

On Friday the bears left an important sign of exhaustion, a wick candle rejecting bearish intentions.

Now this has created a higher low, telling us that sellers do not have the strength to extend the short-term trend they were trying to impose.

It seems quite clear that an all-time high for Ethereum will arrive in the next few hours / days, thanks to an ecosystem totally full of positivism despite the correction we are seeing, investors saving their coins, and an increasingly attractive updated network.

All our publications are informative, so in no case should they be taken as investment advice.

Source: www.bitcoin-accepted.com


Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

  • Ethereum has seen some mixed price action as of late, with the cryptocurrency mainly taking its cues from Bitcoin
  • This has caused it to struggle to gain any serious momentum, with its price being stuck within the mid-$1,200 region throughout the past few days
  • The selling pressure at $1,300 has catalyzed a strong rejection in the past, confirming this level as resistance
  • Where it trends next will undoubtedly depend largely on ETH and whether or not the entire market can gain any momentum in the near-term
  • One analyst is noting that Ethereum could be on the cusp of seeing a massive move higher once it can flip one key level into support
  • Ethereum and the entire cryptocurrency market have seen mixed price action throughout the past few days and weeks.

    The selling pressure seen each time ETH ventures into the mid-$1,200 region is quite intense and may indicate that further downside is imminent in the near-term.

    One analyst is still incredibly bullish on the crypto, however, noting that there’s a strong possibility it sees a test of its all-time highs if it can flip $1,250 into support.

    At the time of writing, Ethereum is trading down marginally at its current price of $1,230, which is around where it has been trading throughout the past couple of days.

    The crypto made an attempt to break above $1,300 just a couple of days ago, but the selling pressure here was quite intense and sparked a rejection.

    Where it trends in the mid-term should depend largely on whether or not bulls can continue forming a strong base of support between $1,200 and $1,230. Holding above this level could lead to significant upside.

    One analyst explained in a recent tweet that he is closely watching for Ethereum to flip $1,250 into support before it can see any significant near-term upside.

    He notes that a break above this level could lead to a test of all-time highs and that bulls must defend against a break below $1,170.

    Ethereum

    Ethereum is currently trading at a pivotal point. How it continues reacting to the key levels just above and below its current price should provide some significant insights into its mid-term outlook.

    This post was originally published on www.newsbtc.com

    Source: www.cryptoalphanews.com

    Author: cm_team


    DeFi Project Spotlight: Degenerative Finance and uGas Ethereum Futures

    DeFi Project Spotlight: Degenerative Finance and uGas Ethereum Futures

  • Degenerative Finance has launched an experimental design space that explores different derivative products and synthetic assets.
  • The project’s first project is uGas, synthetic gas futures for Ethereum.
  • Depending on a user’s profile, uGas can be a helpful tool to hedge and speculate on the rise or fall of gas prices on the number two network.
  • uGas is the first project launched by Degenerative Finance, itself a partnership between last summer’s popular DeFi platform, YAM Finance, and UMA Protocol.

    The uGas offering will be the focus of this week’s Project Spotlight feature. 

    uGas offers decentralized gas futures for users within the Ethereum ecosystem. For the uninitiated, every transaction on Ethereum costs gas. Sometimes the network can be so congested that the cost to transact can make even simple operations prohibitively expensive. 

    There have been many examples of such limiting conditions. Each example has also been used to promote alternative blockchains and speed up development for various Layer-2 solutions.

    What future awaits cryptocurrencies?
    GOODBAD

    The CryptoKitties boom in 2017 is perhaps the first severe case of extremely high gas fees, but the meteoric rise of DeFi in 2020 has proven to be as notable. 

    This is becoming a growing issue for the number two network and may limit the asset’s potential if not solved. Speculators are not the only demographic affected, however. Developers, users, and those looking to build companies on top of Ethereum must consider the high cost of operating. 

    Naturally, Ethereum developers have been hard at work to dissolve this pain point. The launch of Ethereum 2.0’s Beacon Chain last year and the “soft” launch of Optism’s Layer-2 solution have given the community hope. 

    These solutions, however, may take much longer than anticipated. 

    Instead of rebuilding Ethereum’s technical components, many emerging projects attempt to solve the scaling issue through economics. Archer DAO is one example of this; instead of eliminating Ethereum’s “Dark Forest” of predatorial arbitrage bots, the project illuminates the network’s mempool and rewards those who help identify attractive arbitrage opportunities. 

    More information on Archer DAO and its value proposition can be found here. 

    This approach accepts the limits of the network and the environments they create as inevitable. From this point, they build accordingly. uGas is not dissimilar. 

    Instead of solving high gas fees, they create a futures market for crypto’s hottest commodity: Ethereum gas.

    This allows users, builders, and speculators to properly hedge for inevitably high gas costs. 

    Readers who are already aware of futures, how they work, and what they are used for, should skip this section. A deep dive into uGas and how it works follow below. 

    Futures allow holders to lock in the price of an asset for a specific moment in the future. They are also different, albeit only slightly, from options. 

    There are futures markets for commodities like wheat and frozen orange juice and markets for currencies. Each futures contract comes with an expiration date, at which point the contract is settled via the physical delivery of the underlying asset or settled in cash. Futures contract holders can buy and sell contracts all the way up until the expiration date. 

    Naturally, this market attracts speculators, but it can also be an important hedging tool for those interacting directly with the underlying asset. To better understand how futures work in action, it will be useful to unpack a specific example and examine the various relevant agents. 

    The easiest futures market to understand is that of water futures in California. 

    Despite its abysmal reality, that of betting on the scarcity of resources necessary for life, California officially opened water futures trading in December 2020. Interestingly, Michael Burry, the market savant that predicted the sub-prime mortgage crisis in 2008, also predicted the arrival of such products in 2010.

    Because water is critical for just about every industry, there is a much wider range of market participants beyond speculators. 

    Almond farmers in California, for instance, will likely be key players in the water futures market. That’s because almonds demand an exorbitant amount of water to grow. This fact, plus the state’s water scarcity concerns and the global popularity for California almonds, make agriculturalists a prime agent in the water futures market.

    Thus, with so many almond farmers concentrated in an area with historically limited access to water, water futures offer a means of softening financial downside. 

    If, for instance, a farmer suspects that the 2021 summer will be an arid season, they may buy water futures contracts that expire in June. Because water is more abundant during the cooler winter months, the cost of water is slightly cheaper. A farmer can thus “lock-in” the cost of water now so that when prices inevitably skyrocket, they can continue to pay winter prices. 

    The above offers a broad definition of how one specific futures market works. Though agriculturalists are the largest party in this market, they are not alone.  

    The Nasdaq Veles California Water Index futures (NQH20) are traded on the world’s largest derivatives exchange, the Chicago Mercantile Exchange (CME). They are settled financially rather than via the physical delivery of water. 

    For more details about NQH20, readers are encouraged to visit CME’s explainer.

    With the above example in mind, it’s not difficult to extend futures markets to other assets besides commodities. Jack Tao, the CEO of derivatives exchange Phemex, told Crypto Briefing: 

    “What started as a practice centered around agricultural producers to hedge the price of their goods against unfavorable conditions, has now transformed into a vital component of financial markets.” 

    He explained how futures could assist in risk transfer and price discovery for well-established markets like currencies and stocks, too. Ultimately, Tao said that: 

    “Hedging or price discovery goals can be achieved in a much cheaper, faster, and efficient way through futures. It is simply much easier for a user to perform sell transactions as they do not need to possess the underlying asset first.“ 

    Instead of holding physical bars of gold, bundles of euros, or buckets of water, futures allow interested parties to quickly buy and sell these commodities with ease. Futures contracts also open up leverage tools for margin trading. 

    Needless to say, these tools and markets also apply to cryptocurrencies, concludes Tao. 

    Instead of holding Bitcoin, CME traders can buy and sell Bitcoin futures on a fully-regulated derivatives exchange. The exchange has also announced the launch of Ethereum futures in February 2021. 

    These products are only the tip of the crypto finance iceberg, however. 

    Like Nasdaq’s water futures, uGas offers futures on Ethereum gas. And for an industry rife with pure-play speculation, gas futures offer real utility for those building and working within the Ethereum network. 

    uGas is the first product of an alleged suite of crypto products created and managed by a partnership between YAM Finance and UMA Protocol. 

    UMA is one of the first crypto protocols to allow users to mint synthetic assets backed by any mixture of other crypto assets. Examples of their work include the launch of a so-called “yield dollar” and a synthetic asset that lets holders short the price of Compound’s COMP token. 

    1/ Synthetic $COMP (yCOMP) is live on mainnet.

    It is now possible to permissionlessly short $COMP.

    — UMA (@UMAprotocol) June 26, 2020

    The partnership between YAM and UMA is called Degenerative Finance. It is essentially an experimental design space for novel derivatives products. Documentation on the tie-up reads: 

    “We hope to fill a market need that allows for new forms of speculation and hedging in DeFi that can cater to individual and institutional investors alike.”

    uGas is the first example of the partnership’s ambitions. UMA first created it before YAM took over the project’s maintenance. The latter will oversee the uGas interface, branding, and manage risk bound in the uGas product. 

    📣 uGAS Logo Design Contest $uGAS is set to make waves as DeFi’s first native gas futures. We’re excited to launch a logo design contest so our community can create a bold new visual identity for us!

    Total Rewards $1000 in $YAM
    Due: January 31https://t.co/z2QZVHfdlZ pic.twitter.com/Ah8TwFd0PG

    — Yam Finance (@YamFinance) January 14, 2021

    uGas are synthetic tokens backed by Ethereum. One uGas token represents one million gas. “Gas” in this context does not refer to an actual Gas token, though many tokens on the market take the same name. The term is simply a moniker.

    There are currently only three varieties of uGAS tokens: uGas-JAN21, uGas-FEB21, and uGAS-MAR21.

    Each variety comes with a corresponding month and year, not unlike traditional futures. These indicators let holders know when the token will expire and settle. They are settled in ETH on the first day of the month following expiration. A uGAS-JAN21 token will thus settle on Feb. 1, 2021. 

    The amount settled is determined by the median gas price for all Ethereum transactions 30 days before expiry. 

    If the median gas price for the 30 days before the Feb. 1 settlement is 80 Gwei, then 1 uGAS-JAN21 token will settle at 0.08 ETH, roughly $97 at today’s price. Users can buy uGas tokens on Uniswap or mint the token directly on the uGas platform. 

    Minters must also be aware of the protocol’s liquidation level, or Global Collateralization Ratio (GCR). Like many DeFi protocols, uGas assets must be overcollateralized. What’s more, the GCR can change and follows this equation: Total collateral per contract divided by the total number of outstanding synthetic tokens. 

    This is why the GCR is different for each of the three varieties of uGas tokens. At the time of press, the lowest ratio is for the uGAS-MAR21 token. It is 2.2917.

    If the collateral price falls below this level and isn’t quickly replenished, a user’s position will be liquidated. 

    Due to the volatile nature of cryptocurrencies, keeping this in mind is critical for any risk management strategy.

    The uGas token allows users to short and long the price of Ethereum’s gas. This is attractive for traders but also yield farmers and ETH miners too. Like water futures, uGas offers a new tool to help anyone interacting with Ethereum to hedge their position or business. 

    To understand how one can hedge their position using uGas, it’s useful to examine how an active DeFi user might leverage this token. 

    At the time of press, one uGas-FEB21 token costs ~0.057 ETH. At the same time, this past weekend has seen various popular DeFi tokens rise double-digit percentages. 

    Gas prices remain low for now, but once the buying spree ends, many new entrants will likely want to put their DeFi tokens to use via yield farming or a lending protocol like Aave. This means that gas prices will likely rise. 

    One way to bet on this thesis and lock in current gas prices would be to determine roughly how much gas one typically uses in a month to manage a portfolio. 

    For the sake of simplicity, this trader spends .5 ETH per month on gas. 

    The trader also assumes that the price of gas is going to increase. Thus to cover her gas costs for February 2021 and bet on gas prices increasing, she will need to purchase ~8.77 uGas-FEB21 tokens. 

    As she trades and interacts within the DeFi space, an unexpected airdrop and a hugely popular yield farm also emerge, skyrocketing gas prices. This results in the trader’s gas fees for the month to also increase. Fortunately, she continues to hold her ~8.77 uGas-FEB21 tokens. And because the median gas price for the past 30 days has increased, so too has the value of her uGas tokens. 

    Upon expiry, the median gas price settles at .1 ETH per token, netting her a profit of .877 ETH. 

    For more elaborate examples of how one can use the uGas token, it is recommended to visit the Degenerative Finance documents page.

    The risks of using uGas boil down to its experimental nature. Warnings of this nature are found throughout the uGas platform and on Uniswap when purchasing this token.

    One must also keep in mind the issues that brought YAM Finance to a grinding halt in August 2020. 

    Though Open Zeppelin, a household name in the crypto auditing community, has verified the relevant smart contracts, the Degenerative team warns:

    “The application of this contract on a volatile price identifier such as Ethereum gas prices is novel and unpredictable in a live market.“

    In terms of competition, Oiler Network is perhaps the only similar offering at the time of press. Oiler Network isn’t futures either, but they let users bet on different changes to Ethereum via options. 

    The final consideration is that of scaling solutions. Though unlikely, mass migration to any Layer-2 solution would render gas-specific economic protocols obsolete. 

    But based on how long it took for Ethereum’s Beacon Chain to launch, these solutions don’t pose any major risks for uGas in the near-term.

    Futures contracts are a critical part of all financial markets, and bringing them to the world of crypto is a no-brainer. 

    Though many forms already exist, uGas offers a necessary tool for safely interacting with Ethereum. Like the Almond farmers of California, DeFi’s yield farmers also need ways to hedge against exorbitantly priced commodities.

    uGas is also a relatively advanced product and demands a clear understanding of gas prices and how they may affect a portfolio’s management. Thus, a user that doesn’t spend much in gas fees in a given month may not find real use with this product (outside of pure speculative interests). 

    For more active users that leverage larger sums of money, the risk lies in the underlying code. Due to uGas’ novelty, the underlying smart contract could break down one way or another. This is a risk for any DeFi protocol. 

    If anything, uGas reminds users of the potential for experimentation in the DeFi space.

    Though the protocol may be vulnerable to code malfunctions, it earns points for creativity. Capitalizing on volatile gas prices is a hugely untapped market. 

    Whether uGas emerges as the dominant custodian of this market remains to be seen.

    Disclosure: At the time of press, this author held ETH. Phemex is a sponsor of Crypto Briefing.

    The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

    You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

    See full terms and conditions.

    Archer DAO is building a community of on-chain analysts to generate new revenue streams for Ethereum miners. Though nascent, the project has already gained attention within the DeFi community due…

    Decentralized crypto lending kickstarted the DeFi craze of 2020. The launch of Compound token COMP in June 2020 attracted the market’s attention and provoked the expansion of the DeFi ecosystem….

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    Ponzi schemes are among the biggest consumers of gas on the Ethereum network, heightening already bad congestion and jacking up transaction fees. Uniswap and Tether are the top gas consumers…

    Source: ethereum.medianewsonline.com

    Author: cryptocurrency
    January 17, 2021


    Ethereum Takes Center Stage as ETH Edges to New Highs

    Ethereum Takes Center Stage as ETH Edges to New Highs

  • Ethereum looks ready for high volatility as it moves closer to an ascending triangle’s breakout point. 
  • A spike in buying pressure could push Ether’s price to a new all-time high of $1,650.
  • ETH whales may try to fake out doubters by a final push to $1,160 before the uptrend resumes.
  • Ethereum looks primed to rise to new all-time highs after enduring a week-long consolidation period that helped flush out weak hands.

    Following a 27% correction that saw its market value plunge to $900 on Jan. 11, Ethereum entered a stagnation period. Its price has made a series of higher lows since then, but the $1,270 resistance level continues to reject ETH from advancing further.

    Such market behavior led to the formation of an ascending triangle on Ether’s 1-hour chart. A horizontal trendline was created along with the swing highs, while a rising trendline developed along with the swing lows.

    A spike in the buying pressure behind Ethereum may be strong enough to break above the overhead resistance. If this were to happen, ETH’s price could shoot up nearly 29% to make a new all-time high of $1,650.

    This target is determined by measuring the distance between the triangle’s two highest points and adding it to the x-axis.

    Given the high volatility in the cryptocurrency market, it is likely that Ethereum will dive first to flush out overleveraged traders before it finally breaks out.

    A spike in downward pressure by market makers could push Ether towards the $1,160 support level before it marches to new all-time highs.

    IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model suggests that based on transaction history, this price hurdle will be able to contain falling prices. Nearly 500,000 addresses had previously purchased over 8.60 million ETH at an average price of $1,160, making it a significant area of interest.

    It is worth noting that by slicing through the underlying demand barrier at $1,160, the odds will increase drastically for a steeper decline.

    If this were to happen, the IOMAP cohorts show that $1,000 becomes the next crucial focal point for Ethereum. Here, roughly 660,000 addresses bought more than 3.60 million ETH.

    Disclosure: At the time of writing, this author owned Bitcoin and Ethereum.

    The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

    You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

    See full terms and conditions.

    Source: otcpm24.com

    Author: News Bureau


    Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

    Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

    Ethereum broke the $1,200 resistance to move into a bullish zone against the US Dollar. ETH price is showing positive signs and it is likely to continue higher above $1,300 and $1,400.

  • ETH price is gaining bullish momentum above the $1,200 pivot level against the US Dollar.
  • The price is facing hurdles near $1,280, but it is well above the 100 simple moving average (4-hours).
  • There was a break above a major contracting triangle with resistance near $1,215 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher towards $1,400 and $1,500 in the coming days.
  • This past week, bitcoin and ethereum saw a fresh increase above $1,150 and $35,000 respectively against the US Dollar. ETH price even surpassed the $1,200 resistance zone and settled well above the 100 simple moving average (4-hours).

    The upward move was such that there was a break above a major contracting triangle with resistance near $1,215 on the 4-hours chart of ETH/USD. Ether price traded as high as $1,292 before correcting lower.

    There was a break below the $1,240 level. The price traded below the 23.6% Fib retracement level of the recent increase from the $1,066 swing low to $1,292 high. However, the broken triangle resistance is acting as a strong support near the $1,200 zone.

    Ethereum’s Ether

    The next major support is near the $1,180 level. It is close to the 50% Fib retracement level of the recent increase from the $1,066 swing low to $1,292 high.

    On the upside, the price is facing a short-term resistance near the $1,280 level. A clear break above the $1,280 and $1,300 resistance levels could open the doors for a larger increase. In the stated case, ether price might even surpass $1,400 and trade to a new all-time high in the near term.

    If Ethereum fails to clear the $1,280 and $1,300 resistance levels, it could start a downside correction. The first key support on the downside is near the $1,180 level.

    The main support is forming near the $1,150 level (the recent breakout zone). Any more losses could lead the price towards $1,050 and the 100 simple moving average (4-hours).

    Technical Indicators

    4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.

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

    Major Support Level – $1,180

    Major Resistance Level – $1,280

    This post was originally published on www.newsbtc.com

    Source: www.cryptoalphanews.com

    Author: cm_team


    Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent? – Cripto News World

    Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent? – Cripto News World

  • Ethereum has seen some mixed price action as of late, with the cryptocurrency mainly taking its cues from Bitcoin
  • This has caused it to struggle to gain any serious momentum, with its price being stuck within the mid-$1,200 region throughout the past few days
  • The selling pressure at $1,300 has catalyzed a strong rejection in the past, confirming this level as resistance
  • Where it trends next will undoubtedly depend largely on ETH and whether or not the entire market can gain any momentum in the near-term
  • One analyst is noting that Ethereum could be on the cusp of seeing a massive move higher once it can flip one key level into support
  • Ethereum and the entire cryptocurrency market have seen mixed price action throughout the past few days and weeks.

    The selling pressure seen each time ETH ventures into the mid-$1,200 region is quite intense and may indicate that further downside is imminent in the near-term.

    One analyst is still incredibly bullish on the crypto, however, noting that there’s a strong possibility it sees a test of its all-time highs if it can flip $1,250 into support.

    At the time of writing, Ethereum is trading down marginally at its current price of $1,230, which is around where it has been trading throughout the past couple of days.

    The crypto made an attempt to break above $1,300 just a couple of days ago, but the selling pressure here was quite intense and sparked a rejection.

    Where it trends in the mid-term should depend largely on whether or not bulls can continue forming a strong base of support between $1,200 and $1,230. Holding above this level could lead to significant upside.

    One analyst explained in a recent tweet that he is closely watching for Ethereum to flip $1,250 into support before it can see any significant near-term upside.

    He notes that a break above this level could lead to a test of all-time highs and that bulls must defend against a break below $1,170.

    “ETH / USD: Currently my thoughts on ETH at the moment in terms of lower timeframe momentum. I will get a newsletter out later today going into more detail and what to expect with PA. The best long R:R right now is PA flipping $1250 into support, looking to remain above $1170.”

    Ethereum

    Image Courtesy of Cactus. Source: ETHUSD on TradingView.

    Ethereum is currently trading at a pivotal point. How it continues reacting to the key levels just above and below its current price should provide some significant insights into its mid-term outlook.

    Source: criptonewsworld.com

    Author: Editor’s Choice


    Ethereum is nowhere near a new all-time high – Latest News, Breaking News, Top News Headlines

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