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Ethereum(ETH) Price Analysis: Either Prices May Not Halt – Cryptocurrency News

Ethereum(ETH) Price Analysis: Either Prices May Not Halt - Cryptocurrency News

Ethereum(ETH) Price Analysis: Either Prices May Not Halt

  • Ethereum Prices made lifetime highs a few days back. After surging 60% this month 
  • Ethereum prices are retesting the triangle breakout 

Ethereum Prices made a lifetime high of $1433, post triangle breakout. The prices declined to test the support, and it seems that the prices are sustaining the levels. The market cap and 24 hour volume are $135,514,363,829 and $19,613,250,219 respectively. 

Ethereum price gave 60% upside this month, but it seems that the bulls may not stop here. The price has given a triangle breakout which the coin is retesting in today’s session. The breakout will be confirmed if it gives closing above $1155. The last three candles have also made Evening star pattern, which is a bearish pattern.  

The VWAP is $1248, which acts as resistance over the prices. The Bollinger Bands are contracting because of today’s session, which might consolidate the coin. The lower BB provides support at $1135 while the upper band and baseband give resistance at $1223 and $1412. 

The volumes are still high, but a decline in the volume can spoil the bull party. 

Stochastic is around the oversold territory but is yet to trigger a buy signal. However, a buy signal with a breakout can push the coin further towards $1336 and $1476(calculated from Fibonacci levels) 

MACD(8,21,5) is signalling indecisiveness in the trend. The signal line has intersected the slow which can either resume the bull rally or bring a turnaround. 

The ADX line is also declining and has reached levels of 31. A fall of ADX below 25 can consolidate the coin. The DI+ and DI- are at 24 and 14. These signal mild buying and selling pressure. If a breakout is accompanied by DI+ surging to 30 or above, it can be treated as a confirmation. 

Ethereum prices are testing support of $1140. The indicator suggests consolidation or mild bullish trend in the coin. If the coin falls below $1140, it can trigger a bear run. 

Support: $1140 and $1100

Resistance: $1300 and $1380 

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Kartik Dhankani


Author: Kartik Dhankani

Stunning M&A, Ethereum Rivals and Extra

Stunning M&A, Ethereum Rivals and Extra

We’re already a number of weeks into 2021, however it’s nonetheless not too late for predictions – particularly within the crypto world, with Ripple’s workforce taking a break from its battle with American monetary regulators to current its forecast for the 12 months forward.

In a publish on its web site entitled “Crypto and Blockchain: Wanting Forward to 2021 and Past,” workforce members on the largest holder of XRP made the next predictions:

  • Fintech companies will more and more transfer into crypto, following the lead of companies like “Sq., Robinhood and PayPal.” RippleNet Normal Supervisor Asheesh Birla even opined {that a} “fintech or cryptocurrency firm” could even “purchase a standard monetary establishment this coming 12 months.” 
  • DeFi may have a 12 months to recollect – and it received’t all be about Ethereum (ETH). Ripple’s Head of DeFi Michael Zochowski claimed, “I consider at the very least 25% of the worth deployed in DeFi by the top of 2021 can be on networks apart from Ethereum.” Ripple’s personal blockchain community – unsurprisingly – will get loads of hype on this part.
  • Regulatory readability is on the horizon within the USA, as “crypto regulation can be a high precedence for a [President Joe] Biden workforce that understands its implications for private and non-private sector innovation.” Wishful considering, maybe? (Be taught extra: Ripple Bets On the New SEC Whereas the XRP Purge Continues)
  • Extra digital forex hype is coming. Should you’re not bored of Central Financial institution Digital Foreign money (CBDC) speak but, you can be by the top of 2021. Ripple predicts that this can be “the 12 months of CBDCs.” Its VP in command of central bank-related enterprise, James Wallis, said, “Over the course of 2021, I count on to see larger evolution of cryptocurrencies, stablecoins, and CBDCs with every agency establishing their place in finance and funds by extra outlined use circumstances.”
  • Proof-of-Work fashions are heading for the bin – with tasks wanting as a substitute of searching for extra eco-friendly and“extra scalable, sustainable techniques” in 2021.
  • Crypto companies will make extra headway in opposition to “established monetary suppliers” and can make their presence felt in a significant means in growing economies. RippleX Normal Supervisor Monica Lengthy claimed this 12 months will see “crypto make good on its unique promise to remake finance as extra accessible and equitable for the world’s underserved.”
  • Ripple’s crystal ball-gazing has maybe supplied it a distraction from preventing the Securities and Exchanges Fee (SEC) and rollercoastering XRP costs.

    Simply earlier than the daybreak of final 12 months, Ripple CEO Brad Garlinghouse predicted that fiats would go digital in 2020, claiming that 50% (at the very least half of the globe’s high 20) of the most important international banks on the planet would set out their plans to work with digital belongings. It did not occur.

    He was additionally banging on the cash with a prediction that 2020 could be a bumper 12 months for cryptoassets – though he earmarked XRP as one of many largest to-watch cash. On the finish of 2020, it was certainly one of many hottest cryptoassets with a powerful rally and a subsequent crash following an assault by the SEC.

    On the time of writing (15:24 UTC), XRP trades at USD 0.278 and is down by nearly 4% in a day and 6% in per week. It dropped by 43% in a month, trimming its positive factors over the previous 12 months to lower than 19%.

    Be taught extra:
    Extra Dangerous Information Coming For XRP Proves Crypto Market Matured
    Truth-checking Ripple’s Declare that ‘Many G20 Gov’ts’ Name XRP a ‘Foreign money’

    Discover extra insights concerning the crypto traits in our particular collection Crypto 2021.


    Author: By admin

    Ethereum Takes Bitcoin’s Proof-of-Concept to the Next Level

    Ethereum Takes Bitcoin’s Proof-of-Concept to the Next Level

    All eyes are on cryptocurrencies and for a darn good reason. Last year, I made a friendly wager with my InvestorPlace colleague Louis Navellier, which we called the “Race to 40K.” I bet him that Bitcoin would reach that lofty threshold before the Dow Jones did. A quick look at the charts reveals that I was right on the money. But astute investors should really take a look at Ethereum.

    A stack of ether or ethereum coins on a gold background.

    Don’t misread this — I didn’t give Louis a hard time. In my opinion, whether you invested in Bitcoin or in powerful, relevant stocks, we’re all winning. A few weeks ago, I more than doubled down on my bullishness in BTC, stating that it’s well within the realm of possibility that it could hit $100,000 sometime this year. Thus, if you missed the boat, you’ve still got time yet.

    But if you’re as optimistic about cryptocurrencies as I am, I recommend that you also consider Ethereum. Just recently, ETH broke above the $1,400 level, hitting $1,439 and by doing so, it secured a fresh all-time high. Currently, Ethereum tokens are entering a corrective phase as some weakness has come into the digital markets.

    Still, this is nothing to worry about. As I’ve stated repeatedly, it’s the long-term picture that investors should focus on.

    What cryptocurrency will become the main one in a year?

    Earlier this month, I stated that big-time investors are recognizing the power and potential of cryptocurrencies. Even NFL player Russell Okung “is now receiving a portion of his salary — $13 million a year — in bitcoin.” There is a great awakening that’s about to blow the roof off this paradigm-shattering investment class.

    In addition, I have discussed at length the unprecedented wealth transfer that will occur from baby boomers to millennials. And where will that money go? To the one asset class that is truly in the hands of the young: virtual currencies.

    Granted, the present enthusiasm is centered on Bitcoin. But as great as it is, in the intermediate term, we’re talking about a 2x or 3x opportunity. Ethereum, though, could swing much, much higher.

    First off, the numbers don’t lie. On a year-to-date basis, Bitcoin is up 16.5%; whereas, Ethereum has gained over 72%. The difference in scale is phenomenal and it’s well justified.

    This leads to my second point regarding the mission purpose behind each token’s underlying blockchain architecture. Bitcoin was really the proof of concept that a payment system and digital economy can operate decoupled from the staid, resistant global financial hierarchy. However, as the first-to-market enterprise, it has structural and administrative issues that stymie its technology’s true potential.

    Enter the Ethereum blockchain. Taking a promising concept, the Ethereum architecture improves upon the speed, scale and convenience of the original Bitcoin blockchain. Not only that, the ETH platform is much more flexible, facilitating multiple innovations such as smart contracts.

    Essentially, smart contracts remove the need for a trusted human intermediary to monitor, arbitrate and close deals. By replacing the intermediary with a digital intelligence, the arbitration process is immutable: computers are only influenced by protocols (facts), not pressure, bribes or other forms of manipulation. By decentralizing the trust element in digital transactions, other forms of innovations — such as decentralized finance (i.e., removing brokers from the stock market equation) — are now possible.

    If that wasn’t enough to get excited about ETH, we now have Ethereum 2.0. This new protocol introduces multiple new improvements to the Ethereum blockchain, with two pivotal ones being:

  • Proof-of-stake, a consensus mechanism that greatly mitigates the traditional energy-intensive mining process called proof-of-work by forcing users to stake their ETH holdings if they wish to participate in network validations, and
  • Shard chains, a process where transactions are verified and validated in parallel sequences rather than one by one, thereby reducing network congestion.
  • While the details of these changes for Ethereum sound incredibly granular, they provide the enhanced modularity and accessibility necessary to take blockchain-based innovations — and not just cryptocurrency speculation — to the next level.

    Again, you shouldn’t misread what I’m telling you. This isn’t about pitting one crypto against another. Both Bitcoin and Ethereum have tremendous upside potential and serve the broader narrative in different ways. The former has established credibility and acts as a digital safe haven, while the latter pushes the boundaries of blockchain technology.

    Frankly, you can’t go wrong with either. The only mistake would be to not get involved at all.

    On the date of publication, Matthew McCall held a position in ETH. On the date of publication, the InvestorPlace Research Staff member primarily responsible for this article held a long position in ETH and BTC.

    Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now. As of this writing, Matt did not hold a position in any of the aforementioned securities.


    Author: By

    Matt McCall and the InvestorPlace Research Staff, Editor, MoneyWire

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