Updated May 03, 2020 05:35 AM GMT (01:35 AM EST)
Ethereum is up 1.69% ($3.62) since the last 4 hour candle, marking the 5th candle in a row it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle. Congrats to its holders!
Ethereum is up 1.02% ($2.17) since the previous day, marking the 2nd day in a row it has gone up. This move happened on lower volume, as yesterday’s volume was down 45.7% from the day before — and down 44.52% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. The daily price chart of Ethereum below illustrates.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereum’s price has gone up 18 of the previous 30 trading days.
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:
Want to lend #DigiByte for 3% interest, but don’t want to sell your assets? We will be able to use $dgb as collateral in an #Ethereum wrapper, use that to collateralize a @MakerDAO vault, mint $dai, and lend dai to a market of borrowers whom over collateralize their loan.
🦉If XRP isn’t “the one” than what digital asset is and why?Criteria-Can’t be Proof of Work -Must have equal current utility usage (Ethereum meets criteria but different use case) -Must be Enterprise Ready-Must have liquidity rails builtAsking for a friend 🙏
If 14.5% of #Bitcoin market cap wants to access their equity, and choose to use $ren it would force the market cap of @renprotocol to where #Ethereum is currently. A powerful concept accessing liquidity using an asset as collateral, it reminds me of something. Ah, the real world.
As for a news story related to Ethereum getting some buzz:
Crypto Tidbits: Bitcoin Hits $9ks, a16z Raises $500M Crypto Fund, Ethereum 2.0 Nears | NewsBTC
NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins….We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.
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Опубликовано: 2 мая 2020 г.
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Ethereum Price Analysis: ETH/USD stays flat above $200
Ethereum (ETH/USD) stayed relatively quiet on Saturday and gained 1% to close at $214. Although the pair edged higher to $220 earlier in the day, it seems to be having a difficult time gathering momentum. As of writing, the pair was virtually unchanged on the day at $214.50. On a weekly basis, the pair is up more than 8% and remains on track to close sixth straight week in the positive territory.
After posting modest gains on Saturday, the RSI indicator for the pair rose to 70 to show that the pair is technically overbought and could retrace a portion of its rally before continuing to edge higher. On the downside, $200 (psychological level) could be seen as the first support ahead of $190 (100-day SMA, 20-day SMA). Resistances, on the other hand, are located at $227 (Apr. 30 high), $240 (static resistance) and $250 (March 7 high).
ETH Price Is Preparing For A New Rise To $250: Analysis
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.
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
Author: By Stefan – On May 3, 2020
Truly Independent Ethereum Analysis News
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Ethereum News Today – Headlines for May 3
- Ethereum’s improvement proposals could negatively impact Bitcoin’s dominance
- ETH has issued proposals like EIP 20, EIP 137, EIP 1155, EIP 1679, and EIP 1559
- Making improvement proposals on Ethereum is easier when compared to Bitcoin
Ethereum News Today – improvement proposals are essential to the evolution and health of cryptos, with both Bitcoin and Ethereum‘s ecosystems sitting at the forefront of many improvement proposals since they were launched. While Bitcoin issued proposals like the Lightning Network, Miniscripts, Taproot/Schnorr signatures, and several other improvement upgrades, Ethereum has issued proposals like the EIP 20, EIP 137, EIP 1155, EIP 1679, and EIP 1559. Each of these proposals has had a significant impact on ETH. The upcoming ETH2.0 launch has fueled excitement in the Ethereum community.
Hudson Jameson with the Ethereum Foundation recently appeared on a podcast where he spoke about the many improvement proposals on Ethereum. He also compared EIPs with BIPs. He remarked that issuing improvement proposals on Ethereum is a lot easier, than doing the same on Bitcoin. According to him:
“Our technical standards (EIPs) have ERCs. ERCs are a type of EIP. This move will make BTC’s proponents crazy. There is a social consensus here. Many projects make use of ERC. Hence if the majority like it, it will become the standard. But in BTC, this is not the case. The art of approving a BIP is very complicated.”
This makes sense for obvious reasons. Getting a BIP approval is very complicated. It typically requires a community consensus. Even before there is a consensus, the BIPs must go through multiple stages (they must be drafted, verified, accepted, and either rejected or replaced). However, in an EIP, the proposal is liked by the majority of users making it the standard.
Speaking more on why the turnover level of EIPs is higher than that of other coins, including Bitcoin, Jameson said:
“It is for several reasons. Firstly, users in the EIP can make a draft for EIP. There are multiple drafts in EIP. But in BIP, you will have to get approval to draw the draft.”
Even though Bitcoin is regarded as the king of digital assets, the coins’ Blockchain faces many challenges. No wonder BTC’s core developers must put in more than the needed effort to ensure the top coin’s dominance remains intact.
Additionally, considering the huge size of Bitcoin, it gets difficult to understand the issues and drawbacks of the digital asset in its entirety sometimes. The fact that there haven’t been many upgrades lately in the network is proof of the above-mentioned statement.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she’s not writing, she spends time with her adorable cat, Ginger and works out often.
Author: Princess Ogono