Ethereum news

ETH Tests $200 Support Level But The Bulls Haven’t Given Up Yet

ETH Tests $200 Support Level But The Bulls Haven’t Given Up Yet

ETH Tests

ETH tests $200 support level after failing to continue above the $220 resistance. It even declined below $208 against the US Dollar and remains at risk of another decline. In our Ethereum latest news, we take a closer look at the price analysis and what the short-term holds for the altcoin.

The price is down by more than 5% and it is now closing towards the $200 support zone while standing at a key bearish trend line between the $208 resistance level on the hourly charts of the ETH/USD pair. The pair will decline to the $192 support before it starts another strong increase. After forming a support base above the $202 and $200, Ethereum’s price recovered above the $210 against the US dollar. The ETH price traded above the $215 level and remained under the 100 hourly simple moving average.

eth price tradingview 1024x486 - ETH Tests $200 Support Level But The Bulls Haven’t Given Up Yet

The bulls faced a strong resistance close to the $220 level and failed to push the price above the $220 which resulted in another decline. There was a break below the $210 level and the 100 hourly simple moving average. ETH test the resistances close to the $202 and $200 key support levels and another resistance on the upside is waiting close to the $207 level. It is close to the 23% fib retracement level from the recent slide of the $220 high.

There is also another bearish trend line forming with a resistance close to the $208 region on the hourly charts of ETH/USD. The trend line correlates with the 50% fib retracement level of the recent slide from the $220 high to the $202 low. The resistance at $210 and the 100 hourly SMA has to be broken in order for ETH to roll right into the positive zone. The next key resistance is seen to the $220 level above which ETH could increase to the $230 level, as we can see in the Ethereum news and analysis today.

On the downside, there is another major support line forming close to the $202 and $200 levels. If Ethereum’s price fails to stay above the key support of $200, it could drop further to the $192 support. Any further losses below the $192 support could open the doors for a bigger decline to the $182 and $180 support levels in the upcoming days.

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Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.


2 days ago


May 3, 2020

eth price is preparing

The latest Ethereum news show that the ETH price is stable and preparing for new gains, inspired by its “bigger brother” Bitcoin (BTC). The cryptocurrency is following a strong bullish path lately and is positioned above the $200 support against the US dollar, which is very similar to Bitcoin. Over the past week, we saw how Ethereum surged above the $200 pivot area against the US dollar. This is when the ETH price gained bullish momentum above the $210 and $220 levels to move into a strong uptrend. There was also a proper close above the $200 pivot level and the 100 hour simple moving average. The ETH price is preparing for a new rise and is inspired by the monthly high which it established near $227 before it started a downside correction. Ethereum corrected sharply lower below the $220 and $212 levels. However, the $202 and $200 levels acted as strong buy zones. We could notice a crucial bullish trend line forming with support near $212 on the 4-hours chart of ETH/USD. ETH price ethereum As the ETH price is preparing for a new rise, the $202 low is acting as the first line of support while the $227 high is the main resistance now. However, before securing these levels, Ethereum needs to prove that it is capable of going over $220 and $225. Any further gains may perhaps open the doors for a rally towards $240 and $250 which is very expected in the altcoin news. ETH is likely to remain well bid above the $210 level and the bullish trend line. If we see a downside break below this trend line, it could revisit a $202 low. The main support as the ETH price is preparing for a run is the $200 pivot level. Any further losses might lead the price towards the $192 support or the 100 simple moving average (4 hours). Meanwhile, we can see a good traction between altcoins – Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS) are some of the best performers in the top 10 today. In the top 20, Ethereum Classic (ETC) is leading the day with 12.43% gains and a new price of $7.51. The technical indicators for the Ethereum price look like this:

  • 4 hours MACD – The MACD for ETH/USD is moving back into the bullish zone.
  • 4 hours RSI – The RSI for ETH/USD is currently well above the 50 level.
  • Major Support Level – $212
  • Major Resistance Level – $230



2 days ago


May 2, 2020

traders fleeing, ethereum, eth, price

Traders fleeing the market left Ethereum trapped beneath the key levels along with many other cryptocurrencies. It still remains trapped beneath the key resistance level but analysts are cautious about getting bullish on ETH until this level is overcome. This comes since the interest in crypto is increasing which shows that traders fleeing the market make the price movement driven by retail investors as per the Ethereum news and analysis that we have today.

ETH chart
Image Courtesy of TraderXO
ETH saw some slow price action over the past 12 days and hovered above the $210 price, consolidating after the recent volatility. The price action seen by ETH over the past week was quite bullish than seen by Bitcoin and other altcoins as it posted a huge retrace from the multi-day highs which ended up degrading the market structure. It seems that the cryptocurrency could be trapped beneath the crucial technical level and it could struggle to match the momentum seen by the benchmark cryptocurrency if it doesn’t overcome the level.
ETH/USD chart
Image Courtesy of Skew
Ethereum is trading under the 1 percent from its previous price level, reaching a price of $213 which marks a slight increase from the multi-day lows of $198 but a slight retrace from the previous high of $230 which was set at the peak of the rally. The rejection from this level led the price of ETH underperforming against Bitcoin which is why the cryptocurrency is trading from the multi-day high of $9,500. While looking at the ETH/BTC pair, it seems that the pair remains trapped beneath the key resistance level of 0.025 BTC. One popular crypto analyst on Twitter explained the importance of the level in a recent tweet, explaining that this could determine the mid-term market structure for Ethereum:

Image Courtesy of Skew
The trend to be aware in the near-term is that the ETH price action seems to be guided by retail investors and spot traders. The volatility of the asset has been declining which signals that the traders are no longer waiting for the two major cryptocurrencies to have a price correlation. SKEW, the analytics firm noted:



3 days ago


May 1, 2020

ethereum 2.0 staking eth price

One analyst is in the cryptonews today for suggesting that staking may trigger a bull run for the price of Ethereum (ETH) in the near end. But how would an Ethereum 2.0 staking upgrade do this all on its own – generating this amount of demand? The truth is, Ethereum 2.0 is something that is coming and we can see how the project has dragged its feet lately. However, when the launch is announced (which will probably be in July), the biggest altcoin out there (ETH) will be transformed from a no-frills proof-of-work protocol to a fully fledged staking platform. After this, instead of competing against each other to solve puzzles, the users who accrue the most wealth or stake will be in charge of validating transactions. This is the fundamental Ethereum 2.0 staking upgrade which some experts believe could catalyze a major bull run for Ether (ETH). One of them is a partner at MetaCartel Ventures DAO, Adam Cochran. In the latter half of April, Cochran composed a 50-tweet-long rationale for the ETH 2.0 project, rendering one of the biggest “economic shifts” society ever witnessed. Cochran went on stating that not that much ETH can stake first round which is why he predicted staking returns of 17% early on this year. He spoke about how whales are accumulating and miners are doing that too, and how ETH is as decentralized as Bitcoin and how ETH founders still hold most of their ETH. While that my wishful thinking, the analyst is on firmer ground when he suggests that staking could drive an Ethereum supply shock and a higher ETH price. In short, Cochran believes that dependable staking rewards of 3% to 5% will attract capital from large investors until around 30% of the total supply is locked up. Cochran basically theorizes that supply shock will create fear-of-missing-out (FOMO) buying among retail investors who are not interested in technical analysis and basically “just want in.” Unlike the 2017 bull run where getting fiat in an exchange was a headache, the FOMO could be amplified because it is now significantly easier for new people to buy crypto with fiat on exchanges like Binance (popular category: Binance news). This is why the analyst believes that the Ethereum 2.0 staking upgrade will bring many novelties to both new and established investors in the space.  



4 days ago


May 1, 2020

Ethereum Price Might Be

A new analysis is in the crypto news, going through the top 10,000 Ethereum (ETH) wallet addresses and suggesting that the world’s second largest cryptocurrency by market cap could potentially see its value increase significantly in the foreseeable future. As we can see, the Ethereum price might be manipulated by large crypto exchanges and whales – and see its value increase again in the near future. However, the bad side of the story is that there are several questionable practices which are being carried out by a few leading crypto asset exchanges as well as certain ETH whale accounts (addresses which hold very large amounts of the digital currency). The author of the report, Adam Cochran, points out that when Circle Internet Financial first acquired the Poloniex exchange in February 2018, he had transferred virtual assets into high security cold storage wallets and maintained strong or adequate reserves. ethereum price eth price news However, when the exchange was later purchased (for $400 million) by a select group of crypto industry participants which included the Tron founder Justin Sun, it was speculated that a lo of the assets were removed from the cold wallets – becoming fractional reserves. This is why the Ethereum price might be manipulated by whales. As the report shows, the cold or offline cryptocurrency wallets seem to have only transferred funds to digital currency exchanges that list Tron (TRX) which is a top 20 digital asset by market cap. Also, this activity led to a considerable 50% increase in the TRX price and a significant increase in the number of people buying this digital token. The author of this report is now viral in the ETH news, going on to reveal various tactics used by a dozen crypto whale accounts which are apparently manipulating the fragile cryptocurrency market. He also claimed that this may be done in coordination with the exchange Bitfinex and may also involve another leading derivatives trading platform, BitMEX. So, whenever the crypto market crashes, these whales are able to make quick profits on their short positions, and then buy back ETH again at significantly lower prices. Currently, the ETH price in the latest Ethereum news is at $213 with a 2.61% decline overnight. It is expected for ETH to retrace a bit before making another move to the zone upwards.










Author: Published 16 hours agoon May 4, 2020By Stefan

Analyst That Called XRP's Crash to $0.13 Now Fears a Strong Ethereum Drop

Analyst That Called XRP’s Crash to $0.13 Now Fears a Strong Ethereum Drop

All cryptocurrencies, from Bitcoin and Ethereum to smaller altcoins, have been rallying over the past few weeks. Just last week, Ether hit a high of $225 — up more than 150% from the lows seen during March’s capitulation.

This move has convinced analysts that more upside is in the works for all cryptocurrencies. Yet an accurate trader that managed to predict price action that others didn’t is fearful of an Ethereum crash.

In the middle of February, when the cryptocurrency market was at a multi-month high, a majority of investors were calling for new highs.

So when a prominent crypto trader said that XRP, then at $0.27, was on the verge of falling by 50% towards a “potential long-term bottom” between $0.13 and $0.15, many shunned the sentiment.

The same trader is now calling for Ethereum to fall to $40-45, noting how the cryptocurrency is in a textbook “corrective pattern.” The prediction that Ether will fall 80% in the months ahead was found using Elliot Wave analysis.

Ethereum chart correction

Chart from @CryptoCapo_ (Twitter)

While the trader’s abovementioned analyst has credence due to his track record, Ethereum’s trajectory is largely dependent on Bitcoin.

And right now, Bitcoin’s trajectory is bullish.

Per previous reports from Bitcoinist, the MACD just flipped bullish on Bitcoin’s one-week chart, suggesting a medium-term bull rally.

The MACD turning bullish on the one-month has marked the start of strong rallies in the past.

In 2017, the indicator flipped green at $2,000 to mark the start of a 1,000% rally to $20,000. At the start of 2019, Bitcoin rallied 300% when the indicator trended green in January. And just recently, it flipped green prior to BTC rallying from $8,000 to $10,500.

Bitcoin MACD chart

Chart from

This bearish analysis aside, Ethereum has recently seen an influx of positive fundamental events.

Announced by Katie Haun and Chris Dixon, Andreessen Horowitz (a16z) — a VC firm known for its investments in Twitter, Slack, Lime, Instagram, and many other big companies — just finished its fundraising for the firm’s second crypto fund.

Venture investor Andrew Kang believes that Ethereum could be one of the biggest beneficiaries of this new fund.

The investor interpreted a16z’s announcement that it will be focusing this capital on “next-generation payment” projects as a sign that they will be “investing in ETH, the stablecoin settlement layer.”

A16Z is investing in payment blockchains


A16Z is investing in $ETH, the stablecoin settlement layer

— Andrew Kang (@Rewkang) May 1, 2020

Considering a16z’s previous investments in the space, Kang’s assertion may be correct.

The venture fund’s first crypto fund made large investments into Ethereum, stablecoins, and decentralized finance.

A16z’s Ethereum wallet, for instance, holds $19 million worth of ERC tokens like MakerDAO’s MKR and Synthetix, while the fund made direct investments into Ethereum projects like Compound, dYdX, and TrustToken.

Should a16z’s Crypto Fund II follow a similar format, countless projects based on Ethereum and potentially Ether itself could benefit greatly once investments start rolling.

Photo by Francisco Gonzalez on Unsplash


NEAR Protocol raises $21.6M from A16Z and launches its MainNet, beating Ethereum 2.0 – TechCrunch

NEAR Protocol raises $21.6M from A16Z and launches its MainNet, beating Ethereum 2.0 – TechCrunch

It was only the other week that Andreesen Horowitz announced their second blockchain-focused fund of $515 million. In the announcement, they said: “We are still early in this Web 3 build-out. High-performance programmable blockchains will make decentralized network development much more accessible. After years of R&D, we are excited that a number of next-gen programmable blockchains will begin rolling out in the near future.”

The firm obviously had something in mind when that was published, it’s emerged that it’s leading a $21.6 million funding round for the NEAR Protocol project (a round which just closed in the middle of US COVID-19 lockdowns). A16Z has been joined by investors including Libertus, Blockchange, Animal Ventures and various undisclosed ethereum projects founders. There was also participation from existing investors (Pantera, Electric) and others listed here.

Not only that but NEAR launches its “MainNet” (as in, ‘production-ready’) network today. The move is a black-eye for the much-vaunted Ethereum 2.0 release, which has yet to appear.

What’s the TL;DR for blockchain to date? Well, we know Bitcoin (worth $143 billion) created a digital currency but without much programmability. Ethereum (now worth $22 billion) used the same concepts to build a decentralized application platform on top of a cryptocurrency (Ether) and now has over $1 billion stored in financial applications on top of it. However, the race to create a blockchain that can compete with the existing speed of the world’s financial system, and gain the same amount of user adoption has so far fallen short of expectations. The Ethereum project has proven quite slow, expensive and pretty difficult to use for anything but niche financial applications.

NEAR is the new kid on the block. After almost two years in development, it now claims that its platform is more performant, more usable and less expensive than Ethereum, allowing developers to realize many of the original use cases which got people so excited about blockchain in the first place.

In fact, Vitalik Buterin, the Ethereum founder, has been known to make statements to the effect that NEAR may represent a significant challenge to Ethereum at some point.

Technically speaking, the NEAR Protocol is a brand new public, proof-of-stake blockchain which is built using a novel consensus mechanism called “Nightshade”. NEAR Protocol uses a technique called “sharding” that splits the network into multiple pieces so that the computation is done in parallel, meaning there isn’t a theoretical limit on the network’s capacity.

Near is also drawing on a Silicon Valley culture of “ship it, and ship it fast!” where Blockchain culture, in general, has suffered from a great deal of theory, philosophical navel-gazing, and not a lot of ‘get shit done’.

Cofounder Alex Skidanov started his professional career at Microsoft in 2009, then joined MemSQL in 2011 as Engineer #1, where he worked for 5 years as Architect and Director of Engineering. The other co-founder is Illia Polosukhin, who has over 10 years of experience, including three years at Google where he was a major Tensor-Flow contributor and a manager of the team building question-answering capabilities for the core Google search.

What future awaits cryptocurrencies?


Author: Mike Butcher

21 hours

Ethereum Price Analysis: ETH/USD slithers under $200, can the 50% Fibonacci level hold?

Ethereum Price Analysis: ETH/USD slithers under $200, can the 50% Fibonacci level hold?

  • Ethereum price pullback from $210 resistance targets the $191 support zone.
  • ETH/USD is technically poised for more downward action in the short term.
  • Ethereum price is ending the Asian session on Monday in the red. The bearish action comes after Ether advanced to highs of $227 on Thursday last week. The reversal that ensued saw the price test the support at $200. However, the bulls remained focused, preventing a return into the $190’s range. There have been attempts to pull ETH/USD towards the hurdle at $220 but the affinity for declines has been on the rise.

    At the time of writing, Ethereum is trading at $199. The second-largest cryptocurrency has lost over 4% of its value on the day. According to the RSI, the downward action is likely to continue in the short term. Glancing lower, the next support target is the 50% Fibonacci retracement level taken between the last swing high of $291 to as a swing low of $90. Continued bearish action below this level could seek refuge at the 200-day SMA as well as the ascending trendline.

    Spot rate: $199

    Relative change: -11.12

    Percentage change: -5.59%

    High: $210.07

    Low: $197.48

    Trend: Bearish

    Volatility: High


    Author: FX Street


    Ethereum's Transaction Count Highest Since July 2019

    Ethereum’s Transaction Count Highest Since July 2019

    Ethereum’s network is experiencing its busiest days in 10 months amid increased issuance of stablecoins and the runup to Ethereum 2.0. 

    The seven-day moving average of the total number of confirmed transactions on Ethereum’s blockchain rose to 845,400 on April 30 to hit the highest level since July 1 , 2019, according to the data source Coin Metrics. As of Sunday, the average was 837,100.

    The transaction count had declined to 12-month lows in February. Since then, however, it has surged by 72%.

    “The recent Cambrian explosion of stablecoin issuance has been a considerable driver of on-chain activity,” said Lucas Nuzzi, network data product manager at Coin Metrics, a provider of crypto financial data. 

    Stablecoins are cryptocurrencies that offer price stability characteristics by pegging their value to some external reference, usually the U.S. dollar. 

    Tether (USDT), trueUSD (TUSD), gemini dollar (GUSD), paxos standard (PAX), binance USD (BUSD), USD coin (USDC), Huobi’s HUSD, and MakerDAO’s DAI are some of the best-known stablecoins. These major stablecoins are based on Ethereum’s blockchain. 


    The market capitalization of major stablecoins has risen from $3.5 billion to over $7 billion over the last two months, according to Coin Metrics. 

    Also, as of April 21, the market capitalization of all stablecoins operating on Ethereum’s blockchain was over $9 billion, according to crypto investor and founder of Mythos Capital Ryan Sean Adam. 

    The uptick in the demand for and the issuance of stablecoins has coincided with the coronavirus-induced dollar shortage influencing the global economy. 

    Since the start of the pandemic, indicators of dollar funding costs in foreign exchange markets have risen sharply. For instance, three-month euro-dollar swaps, a widely followed indicator of dollar-funding costs in the foreign exchange markets, rose to a nine-year high of 150 basis points in March. 

    While the dollar-funding stress has eased somewhat over the past few weeks due to the U.S. Federal Reserve’s massive liquidity injections, the crisis looks far from over for emerging markets, which lost around $1.5 billion in forex exchange reserves per day in March, according to Bloomberg. 

    Some observers think the crisis has boosted stablecoins’ appeal as less-volatile instruments of transferring value on-chain. 

    “The economic impacts of COVID-19 have created USD shortages around the world, especially in emerging markets,” said Nuzzi. “As such, USD stablecoins could be providing an alternative to physical dollars in jurisdictions experiencing stricter capital controls and currency devaluation.” 

    Yet, the increase in transactions may not be entirely due to stablecoin growth. Connor Abendeschien, crypto research analyst at Digital Assets Data, cited Ethereum’s impending transition from the proof-of-work (PoW) to proof-of-stake (PoS) mechanism, dubbed Ethereum 2.0, as one of the possible reasons for the rise in Ethereum’s on-chain transactions. 

    In PoW, miners solve cryptographically hard puzzles to complete transactions on the network and get rewarded. In PoS, instead of miners there are validators, which lock up some of their ether as a stake in the ecosystem. A block validator is then selected based on its economic stake in the network via a pseudo-random election process. 

    Backing Abendeschien’s argument is the recent sharp rise in the number of addresses holding more than or equal to 32 ETH, an amount a holder is required to maintain as a balance to become a validator on 2.0. 


    The number of validator addresses rose sharply in the days leading up to the launch of the testnet version of Ethereum’s 2.0 upgrade on April 18 and hit a record high of 11,6750 on April 28. That boosted the transaction count, according to data provided by the blockchain intelligence firm Glassnode.

    Broad range intact

    While there has been a recent uptick in the transaction count, the metric is still within the broad range of 900,000 to 400,000 seen since February 2018. 

    Gavin Smith, CEO of cryptocurrency consortium Panxora, expects the transaction count to grow organically in the future. “One important factor to take into account is that Ethereum is still by far the favored smart contract vehicle in the crypto space and the upcoming transition to PoS will help the network cope with the ever-growing demand,” said Smith. 

    Also, a rally in ether’s price could boost transaction count. “On-chain activity tends to follow price,” said Wilson Withiam, research analyst at Messari, a provider of crypto data, tools, and research. 

    The recent growth in Ethereum’s transaction count is accompanied by a stellar rise in price. At press time, the second-largest cryptocurrency is trading around $205 on major exchanges, representing a 127% gain on the low of $90 observed on March 13.


    Author: Christine Kim

    MakerDao pulls BTC to the Ethereum blockchain

    MakerDao pulls BTC to the Ethereum blockchain

    MakerDao governance, a decentralized community comprising MKR token holders that govern the Maker Protocol has voted to add bitcoin (BTC) to the Ethereum blockchain.  Reportedly, this became possible by accepting wrapped Bitcoin (wBTC) as a new collateral asset in the Maker Protocol. MakerDao unveiled this news through an official announcement on May 3.  

    In the official announcement, MakerDao said,

    “WBTC will help bring greater liquidity to the Ethereum and decentralized finance (DeFi) ecosystems, and to decentralized exchanges (DEXs).”

    This launch makes wBTC (the first ERC20 token backed 1:1 by BTC) the fourth collateral type that MakerDao governance has accepted. As a result, wBTC will be used alongside ETH, BAT, and USDC to open maker vaults and generate Dai.

    As aforementioned, pulling BTC to the Ethereum blockchain will let BTC holders trade their BTC to open a vault and generate Dai through wBTC. Reportedly, this process was not easy, both technically and policy-wise.

    Oasis Borrow, a decentralized finance (DeFi) platform will handle vault management.

    Outlining the steps for this process, an Oasis Borrow post noted that BTC holders should,

    Before this news, a report unveiled that crypto experts had doubts about whether BTC will ever join the DeFi revolution. In the report, experts had several questions. These include, what tradeoffs will prove most palatable (or rather, the least unpalatable) for investors? Will one protocol or solution corner the market, or will several viable tools peacefully coexist?

    However, MakerDao’s decision to pull BTC to the Ethereum blockchain has answered all the above questions.

    Do you think wBTC will help boost liquidity in the DeFi sector? Share your thoughts in the comment section below.


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