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Ethereum (ETH) Price Hits $1,489.39 on Exchanges

Ethereum (ETH) Price Hits $1,489.39 on Exchanges

Ethereum logoEthereum (CURRENCY:ETH) traded down 6.4% against the U.S. dollar during the twenty-four hour period ending at 10:00 AM E.T. on March 5th. Over the last seven days, Ethereum has traded down 2.4% against the U.S. dollar. Ethereum has a total market cap of $171.17 billion and approximately $21.51 billion worth of Ethereum was traded on exchanges in the last day. One Ethereum coin can currently be bought for $1,489.39 or 0.03096565 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed over the last day:

  • Ethereum Classic (ETC) traded down 6.2% against the dollar and now trades at $10.77 or 0.00022399 BTC.
  • Super Zero Protocol (SERO) traded down 0% against the dollar and now trades at $0.10 or 0.00000208 BTC.
  • Callisto Network (CLO) traded 2.8% lower against the dollar and now trades at $0.0041 or 0.00000008 BTC.
  • Ellaism (ELLA) traded down 3.8% against the dollar and now trades at $0.0087 or 0.00000018 BTC.
  • Ether Zero (ETZ) traded down 8.6% against the dollar and now trades at $0.0017 or 0.00000004 BTC.
  • Elementrem (ELE) traded up 1.4% against the dollar and now trades at $0.0010 or 0.00000006 BTC.
  • Bitcoiin (B2G) traded 4.3% lower against the dollar and now trades at $0.0005 or 0.00000001 BTC.
  • Money Plant Token (MPT) traded 5.3% lower against the dollar and now trades at $0.0004 or 0.00000001 BTC.
  • Exchange Payment Coin (EXP) traded 0.9% lower against the dollar and now trades at $0.0005 or 0.00000001 BTC.
  • Entherfound (ETF) traded down 4.4% against the dollar and now trades at $0.0351 or 0.00000073 BTC.
  • Ethereum Coin Profile

    Ethereum (ETH) is a proof-of-work (PoW) coin that uses the Ethash hashing algorithm. Its launch date was July 30th, 2015. Ethereum’s total supply is 114,925,355 coins. Ethereum’s official Twitter account is @ethereumproject and its Facebook page is accessible here. The Reddit community for Ethereum is /r/ethereum and the currency’s Github account can be viewed here. Ethereum’s official message board is Ethereum’s official website is

    According to CryptoCompare, “Sandwich complexity model: the bottom level architecture of Ethereum should be as simple as possible, and the interfaces to Ethereum (including high level programming languages for developers and the user interface for users) should be as easy to understand as possible. Where complexity is inevitable, it should be pushed into the “middle layers” of the protocol, that are not part of the core consensus but are also not seen by end users – high-level-language compilers, argument serialization and deserialization scripts, storage data structure models, the leveldb storage interface and the wire protocol, etc. However, this preference is not absolute. Freedom: users should not be restricted in what they use the Ethereum protocol for, and we should not attempt to preferentially favor or disfavor certain kinds of Ethereum contracts or transactions based on the nature of their purpose. This is similar to the guiding principle behind the concept of “net neutrality”. One example of this principle not being followed is the situation in the Bitcoin transaction protocol where use of the blockchain for “off-label” purposes (eg. data storage, meta-protocols) is discouraged, and in some cases explicit quasi-protocol changes (eg. OP_RETURN restriction to 40 bytes) are made to attempt to attack applications using the blockchain in “unauthorized” ways. In Ethereum, we instead strongly favor the approach of setting up transaction fees in such a way as to be roughly incentive-compatible, such that users that use the blockchain in bloat-producing ways internalize the cost of their activities (ie. Pigovian taxation). Generalization: protocol features and opcodes in Ethereum should embody maximally low-level concepts, so that they can be combined in arbitrary ways including ways that may not seem useful today but which may become useful later, and so that a bundle of low-level concepts can be made more efficient by stripping out some of its functionality when it is not necessary. An example of this principle being followed is our choice of a LOG opcode as a way of feeding information to (particularly light client) dapps, as opposed to simply logging all transactions and messages as was internally suggested earlier – the concept of “message” is really the agglomeration of multiple concepts, including “function call” and “event interesting to outside watchers”, and it is worth separating the two. Have No Features: as a corollary to generalization, the dev team often refuses to build in even very common high-level use cases as intrinsic parts of the protocol, with the understanding that if people really want to do it they can always create a sub-protocol (eg. ether-backed subcurrency, bitcoin/litecoin/dogecoin sidechain, etc) inside of a contract. An example of this is the lack of a Bitcoin-like “locktime” feature in Ethereum, as such a feature can be simulated via a protocol where users send “signed data packets” and those data packets can be fed into a specialized contract that processes them and performs some corresponding function if the data packet is in some contract-specific sense valid. Non-risk-aversion: the dev team is okay with higher degrees of risk if a risk-increasing change provides very substantial benefits (eg. generalized state transitions, 50x faster block times, consensus efficiency, etc) “

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    Author: Maurice Goldstein

    Ethereum Price Forecast: ETH declines catch momentum eyeing $1,200 | Headlines | News

    Ethereum Price Forecast: ETH declines catch momentum eyeing $1,200 | Headlines | News

  • Ethereum engages strong reverse gears as declines remain unstoppable.
  • Investors brace for a rollercoaster as overhead pressure intensifies on account of a double-top pattern.
  • Ether must regain the ground above $1,500 and association the 50 SMA to come out of the woods.
  • Ethereum’s recovery from the dip under $1,300 at the beginning of the week suffered rejected at $1,650 amid intense selling pressure. The bearish double-top pattern highlighted on Thursday is impacting the price, leading to ongoing losses. Several areas have been ignored, although at first, they seemed formidable enough to halt the losses.

    For instance, the 50 Simple Moving Average (SMA) on the 4-hour chart, as highlighted at $1,520. In the meantime, Ether has extended the bearish leg beneath $1,500 and is exchanging hands at $1,480.

    If support at $1,440 fails to hold, investors should get ready for a roller coaster swing to areas under $1,300 and eyeing a robust, lower, and robust, perhaps at $1,400. The Moving Average Convergence Divergence (MACD) adds weight to the bearish outlook as it draws close to crossing under the midline line.

    Consequently, the MACD line (blue) recently crossed below the signal line, further cementing the bears’ influence over the price. The MACD is vital technical indicator traders use to identify entry and exit positions in the market. For now, the technical seems extremely bearish for Ether, thus the expected downswing to $1,200.

    It is worth mentioning that a daily close above $1,500 will help prevent the losses targeting $1,200. However, Ether will be stuck in the woods and may need to recover the ground above the 50 SMA to secure formidable support.

    On the upside, the impact of the double-top pattern is apparent. To bypass the overhead pressure, Ethereum bulls must chart a new path toward $2,000 by first taking down the hurdle at $1,650 and later $1,700.

    Ethereum intraday levels

    Spot rate: $1,480

    Relative change: -60

    Percentage change: -4

    Trend: Bearish

    Volatility: High

    The post Ethereum Price Forecast: ETH declines catch momentum eyeing $1,200 appeared first on Coingape.


    Bitcoin, Ethereum, XRP Poised to Resume Uptrend

    Bitcoin, Ethereum, XRP Poised to Resume Uptrend

  • Bitcoin sits on top of a significant support wall that may allow it to rebound towards new all-time highs.
  • Ethereum’s upcoming protocol update could be the catalyst that ignites another bull rally. 
  • XRP remains one of the most popular cryptocurrencies in Asia Pacific despite its legal uncertainty in the U.S. 
  • Extreme volatility levels in the cryptocurrency market have led to massive liquidations over the past few weeks. Despite the significant losses incurred across the board, data shows that Bitcoin, Ethereum, and XRP are about to resume their respective uptrends.  

    Bitcoin took a 12% nosedive in the past 36 hours after rising to $52,700. The downswing added credence to the thesis that BTC is creating an inverse head-and-shoulders pattern on its 4-hour chart. 

    Coincidentally, the Tom Demark (TD) Sequential indicator recently presented a buy signal within the same time frame. The bullish formation developed as a red nine candlestick, suggesting that Bitcoin is bound for a bullish impulse. 

    If validated, BTC could rise toward the head-and-shoulders neckline at $52,000 to complete this technical pattern’s right shoulder. A further spike in buying pressure around this resistance barrier could lead to a 17% breakout that sends Bitcoin to $61,000.

    Microstrategy’s announcement that it once again bought the Bitcoin dip, adding another $10 million to its treasury, suggests that momentum is indeed building up for the uptrend to resume. 

    That notion is further validated by the rising number of new daily addresses joining the network. On-chain analyst Willy Woo maintains that Bitcoin’s user count is “growing at insane rates,” similar to trends seen during the 2017 bull market.

    What cryptocurrency will become the main one in a year?

    As long as Bitcoin continues to hold above $47,000, all of these fundamental developments will continue to push prices higher. 

    Rafael Schultze-Kraft, co-founder and CTO at Glassnode, maintains that this is a “very strong on-chain support” level, as roughly 500,000 BTC were moved at this price point. “[It is] important that we hold [$47,000], otherwise we could see low forties quickly before the next upwards movements,” said Schultze-Kraft. 

    Ethereum is back in the spotlight after core developers agreed to add the blockchain’s crucial EIP-1559 proposal to the London fork in July.

    Research coordinator Tim Beiko told Crypto Briefing that EIP-1559 could be thought of as an “ETH buyback” proposal. The update will see a portion of the gas fees on every transaction get burned, reducing Ether’s supply and essentially making it a deflationary asset.

    The announcement comes at a time when Ethereum has been consolidating within a symmetrical triangle on the 4-hour chart. If market participants were to buy the news, this cryptocurrency could rise towards the pattern’s upper trendline at $1,570. 

    A 4-hour candlestick close above this resistance barrier would be followed by a 21.50% move in the same direction, sending Ether to $2,000. This target is determined by measuring the height of the triangle’s y-axis and adding it to the breakout point.

    Transaction history shows that Ethereum sits on top of a massive support zone while resistance is weak.

    Based on IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model, over 370,000 addresses previously purchased nearly 10 million ETH around $1,480. This demand wall could absorb any selling pressure, capping Ether’s downside potential.

    Holders within this price range will likely do anything to keep their investments “In the Money”; they may even buy more tokens to allow prices to rebound. 

    On the flip side, the IOMAP cohorts show little to no resistance ahead. The only considerable hurdle lies at $1,570, where more than 730,000 addresses are holding 3.70 million ETH.

    Such an insignificant supply wall suggests that the bulls will not have trouble driving Ethereum’s price higher.

    While market participants are concerned about XRP being deemed a security by the U.S. Securities and Exchange Commission (SEC), Ripple continues to expand its services in Eastern markets, where there is reportedly more regulatory clarity.

    “[The lawsuit] has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific,” Garlinghouse told Reuters. He concluded that XRP is still traded on over 200 exchanges around the world, and that only “three or four” U.S. exchanges have halted trading.

    While Garlinghouse remains positive about Ripple’s legal stability, XRP is on the brink of a major bullish impulse. The seventh-largest cryptocurrency by market capitalization seems to have developed an inverse head-and-shoulders pattern on its daily chart. 

    Although XRP is currently forming the right shoulder of the bullish formation, it can break out of that pattern. A spike in buying pressure that allows this altcoin to close above the pattern’s neckline at $0.66 could lead to a 74% upswing towards $1.16.

    Traders must wait for a daily candlestick close above the $0.66 for the inverse head-and-shoulders pattern to be validated. Failing to do so could lead to a downswing to the $0.39 support level. 

    If XRP breaks below this critical support barrier, it will invalidate the bullish outlook and lead to a steep correction towards $0.20. 

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

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    Ethereum Co-founder Vitalik Buterin Proposes Cross L2 DEX Solution for ETH 2.0

    Ethereum Co-founder Vitalik Buterin Proposes Cross L2 DEX Solution for ETH 2.0

    The cross L2 DEX solution and fast implementation of Ethereum 2.0 could rejuvenate ETH bulls in the near future.

    Ethereum 2.0 is expected to solve existing challenges in the Ethereum ecosystem. According to Ethereum co-founder Vitalik Buterin, a cross L2 DEX capability is the expected solution for high fees for ETH 2.0.

    A cross-L2 DEX solution that I proposed a few days ago that only requires one side to be smart contract-capable (the other side can just be a simple coin-sending-only rollup or plasma):

    — vitalik.eth (@VitalikButerin) March 4, 2021

    Ethereum developers are moving fast to salvage their reputation as high competition drive Dapps’ developers to other favorable ecosystems including Binance Smart Chain. Incidentally, the latter has experienced heightened activity in the past few weeks that has resulted in native coin BNB skyrocketing.

    The high transaction fees have made all projects that are built on the Ethereum blockchain less scalable. Thereby prompting Ethereum 2.0 developers to put extra effort ahead of the schedule.

    The cross L2 DEX solution will oversee a seamless transition of high fees to affordable fees especially as the crypto industry experienced heightened volatility and institutional adoption.

    Despite the increased competitors, the Ethereum ecosystem remains the ruler in the smart contract industry. Besides, Ethereum (ETH) is the second-largest cryptocurrency by market capitalization after Bitcoin. Whereby it had a market capitalization of around $170 billion.

    Ethereum 2.0 was planned to be implemented in phases for the next few years. However, the increased transaction fees have prompted Ethereum investors and developers to reschedule the process. The ecosystem is entirely planned to migrate from the power-consuming proof-of-work to proof-of-stake.

    Eventually, interested investors can stake their Ethereums to become a validator. The minimum set of ETH units to become a validator is 32, thus approximately $47k.

    Notably, the L2 Optimism solution that is meant to reduce transaction fees was funded by venture firm a16z (Andreessen Horowitz). Moreover, Optimism is set to launch on Ethereum 2.0 mainnet next month. According to a16z, Optimism is “an extension of Ethereum, [with] adherence to Ethereum development paradigms, [which] results in a very easy transition for developers, wallets and users.”

    The Ethereum ecosystem is also awaiting other events including the upcoming Berlin hard fork that is scheduled on April 15. Notably, HF1 is the tentative code name for the first hard fork of the beacon chain. The main purpose for the HF1 on the beacon chain is to add light client support, fix existing weaknesses, and test hard forking mechanisms.

    The beehive of activities in the Ethereum ecosystem spell for further growth, especially the market price. Ethereum was trading around $1,481.33 having dropped approximately 27% from its all-time high set last month. The cross L2 DEX solution and fast implementation of Ethereum 2.0 could rejuvenate ETH bulls in the near future.

    next Altcoin News, Blockchain News, Cryptocurrency news, Ethereum News, News


    Author: CNC


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    Ethereum Dives Under $1,500, Why Bulls Are Dropping Management

    Ethereum Dives Under $1,500, Why Bulls Are Dropping Management

    Ethereum failed to remain above $1,600 and it even traded beneath $1,500 in opposition to the US Greenback. ETH worth is displaying bearish indicators and it may proceed to maneuver down in the direction of $1,400.

  • Ethereum began a recent decline beneath the $1,550 and $1,500 help ranges.
  • The value is now buying and selling nicely beneath $1,550 and the 100 hourly easy shifting common.
  • There’s a main bearish development line forming with resistance close to $1,560 on the hourly chart of ETH/USD (information feed through Kraken).
  • The pair may right larger, however upsides are prone to be restricted above $1,550.
  • Ethereum failed to remain above the $1,600 help and began a recent decline. ETH broke the $1,580 and $1,550 help ranges to maneuver right into a bearish zone.

    There was a break beneath an important bullish development line with help close to $1,560 on the hourly chart of ETH/USD. It opened the doorways for a drop beneath $1,500. The pair spiked beneath the $1,450 help and settled nicely beneath the 100 hourly easy shifting common.

    A low is shaped close to $1,441 and the value is consolidating losses. An preliminary resistance is close to the $1,520 degree. It’s near the 50% Fib retracement degree of the latest decline from the $1,598 swing excessive to $1,441 low.

    Supply: ETHUSD on

    The primary main resistance is close to the $1,550 degree and the 100 hourly easy shifting common. The 61.8% Fib retracement degree of the latest decline from the $1,598 swing excessive to $1,441 low can be close to $1,550. Furthermore, there’s a main bearish development line forming with resistance close to $1,560 on the identical chart.

    To maneuver right into a constructive zone, ether worth should clear $1,550, the 100 hourly SMA, and the development line resistance. The subsequent key resistance may very well be close to $1,600.

    If Ethereum fails to proceed larger above the $1,520 and $1,550 resistance ranges, it may resume its decline. An preliminary help on the draw back is close to the $1,450 degree.

    A correct draw back break and shut beneath $1,450 may clear the trail for a push beneath $1,400. Within the said case, ether worth may even check the $1,375 help zone within the close to time period.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is shedding tempo within the bearish zone.

    Hourly RSI – The RSI for ETH/USD is now nicely beneath the 50 degree.

    Main Help Stage – $1,450

    Main Resistance Stage – $1,550


    Author: By admin

    Ethereum (ETH) Price Hits $1,489.39 on Exchanges

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