Ethereum Archives - Coinedict

Top Cryptocurrencies Poised for Future Growth

Casey7 hours ago4 hours ago09 mins

As the crypto landscape continues to evolve, certain digital assets are emerging as strong contenders for future growth. While market volatility is ever-present, the underlying fundamentals and innovations driving these coins suggest significant potential in the coming years. Here’s a closer look at five of the hottest cryptocurrencies set to shape the next phase of the crypto world: Ethereum (ETH), Binance Coin (BNB), Avalanche (AVAX), BlockDAG, and Monero (XMR). 1. Ethereum (ETH): The Smart Contract Powerhouse Ethereum has long been a leader in the crypto space, known for its pioneering role in enabling smart contracts and decentralized applications (dApps). The transition to Ethereum 2.0, with its proof-of-stake (PoS) mechanism, has further solidified ETH’s position as a top choice among investors and developers. Key Growth Drivers: Ethereum’s established infrastructure, wide adoption, and ongoing upgrades position it as a key player with strong growth potential in both the short and long term. 2. Binance Coin (BNB): The Exchange Utility Giant Binance Coin (BNB), the native token of the Binance ecosystem, is one of the most utilized cryptocurrencies in the market. Initially launched to offer discounts on trading fees, BNB’s utility has expanded significantly, making it a versatile asset for various applications. Key Growth Drivers: With its deep integration into the Binance ecosystem, BNB is positioned for growth as the exchange and its related platforms continue to expand globally. 3. Avalanche (AVAX): The High-Throughput Blockchain Avalanche has gained significant attention as a high-speed blockchain designed for decentralized finance, dApps, and enterprise use. It stands out for its subnet architecture, which allows developers to create tailor-made blockchains that can interoperate with each other. Key Growth Drivers: Avalanche’s focus on scalability, speed, and interoperability positions it as a formidable competitor in the blockchain space, driving its potential for long-term growth. 4. BlockDAG: The Next-Gen Consensus Protocol BlockDAG is not just another blockchain—it’s a directed acyclic graph (DAG)-based protocol that aims to solve the scalability issues of traditional blockchains. By using a different structure than the typical linear blockchain, BlockDAG allows multiple transactions to be processed simultaneously, offering faster speeds and higher throughput. Key Growth Drivers: As scalability remains a critical challenge for many blockchains, BlockDAG’s innovative consensus model could make it a pivotal player in the crypto world’s future. 5. Monero (XMR): The Privacy Pioneer Monero is widely regarded as one of the leading privacy-focused cryptocurrencies, offering users complete anonymity in their transactions. Unlike many other digital assets, Monero uses advanced cryptographic techniques to ensure that transaction details are private and untraceable. Key Growth Drivers: Monero’s focus on privacy sets it apart in a world where digital surveillance is growing, making it a compelling option for users seeking financial confidentiality. Conclusion: Promising Coins for Future Growth While the crypto market remains highly dynamic and subject to rapid changes, these five cryptocurrencies—Ethereum, Binance Coin, Avalanche, BlockDAG, and Monero—stand out for their innovative approaches, strong fundamentals, and real-world use cases. Each of these digital assets offers unique features that address specific needs within the broader blockchain ecosystem, making them promising candidates for long-term growth.

Bitcoin Nears All-Time High: Bold Predictions and Key Drivers of the Bullish Surge

Casey23 hours ago23 hours ago09 mins

The cryptocurrency market is buzzing with renewed optimism as Bitcoin (BTC), the world’s largest digital currency, inches closer to a potential all-time high. Following a period of volatility and consolidation, Bitcoin has emerged stronger, capturing the attention of investors, analysts, and enthusiasts alike. One prominent expert, Jamie Coutts from Real Vision, is making bold predictions about Bitcoin’s trajectory, suggesting that it could surge to an astonishing $110,000 in the near future. The $110,000 Prediction: What’s Behind It? Jamie Coutts, a well-regarded crypto analyst at Real Vision, has projected that Bitcoin could rise to $110,000, citing a unique set of market conditions that favor a bullish breakout. Central to his forecast is the expanding global money supply, which has reached unprecedented levels. As central banks continue to inject liquidity into the financial system to support economic growth, the resulting increase in money supply is seen as a potential catalyst for Bitcoin’s price to soar. Bitcoin’s appeal as a hedge against inflation is one of the primary reasons for Coutts’ prediction. With fiat currencies becoming more prone to devaluation due to aggressive monetary policies, investors are increasingly turning to Bitcoin as a store of value. This trend aligns with Bitcoin’s fundamental characteristics: limited supply, decentralized nature, and growing acceptance as a legitimate asset class. Wider Analyst Sentiment: Matrixport’s Projections and Trump’s Potential Return Coutts isn’t alone in his bullish outlook. Several other market analysts have revised their Bitcoin price predictions upward. Matrixport, a prominent crypto financial services firm, has also suggested that Bitcoin’s rally is far from over. They cite multiple factors contributing to this continued momentum, including: Bitcoin’s Resurgence: Key Factors at Play The resurgence of Bitcoin can be attributed to several converging factors that have created a bullish environment for the cryptocurrency: Potential Implications for Investors The bullish sentiment surrounding Bitcoin has several implications for investors: Conclusion: The Road to $110,000 and Beyond The cryptocurrency market is currently riding a wave of optimism, fueled by factors like expanding money supply, inflation concerns, and institutional adoption. Analysts like Jamie Coutts believe that Bitcoin’s fundamentals are stronger than ever, setting the stage for a potential run toward $110,000. This optimistic projection aligns with broader bullish sentiment among other analysts, such as Matrixport, who foresee sustained momentum, driven by both macroeconomic conditions and political uncertainty. While the future remains unpredictable, the prevailing market dynamics suggest that Bitcoin’s rally is far from over. As it approaches an all-time high, investors should remain aware of both the potential rewards and inherent risks, navigating the path forward with a mix of caution and excitement. With the global financial landscape evolving rapidly, Bitcoin stands as a powerful contender in the race for alternative assets, shaping the future of finance.

Ripple’s XRP Resilience: A Deep Dive into Recent Market Trends and Whale Accumulation

Casey1 day ago1 day ago07 mins

Ripple’s XRP, one of the top-performing cryptocurrencies, has demonstrated remarkable resilience despite facing persistent regulatory challenges. The digital asset recently navigated through heightened volatility, driven by ongoing legal battles with the U.S. Securities and Exchange Commission (SEC). However, even amid this uncertain environment, XRP appears to be maintaining its momentum, supported by positive market dynamics and increased interest from large holders, also known as “whales.” Recent Market Volatility In early October 2024, XRP experienced a significant price drop, falling by 18% in reaction to renewed legal pressures linked to its ongoing case with the SEC. The case, which questions whether XRP qualifies as a security, has been a critical factor in XRP’s market fluctuations since it began in late 2020. The October dip was one of the most pronounced setbacks for XRP this year, illustrating the impact of regulatory news on the token’s market value. Despite this sharp decline, XRP quickly showed signs of stabilization. At the time of writing, the token is trading at $0.5415, signaling a recovery phase after its recent sell-off. This steadying of price, even in the face of legal uncertainty, has encouraged a wave of renewed optimism among analysts and investors. Analyst Outlook: Optimism for Recovery Analysts remain generally positive about XRP’s potential for recovery, pointing to a mix of technical factors and broader market trends that favor the token’s upward trajectory. While regulatory hurdles pose significant short-term risks, market experts believe that XRP’s established infrastructure and use case in cross-border transactions can fuel a longer-term rebound. Additionally, the broader crypto market’s recovery, driven by increased institutional interest and investor demand for utility-focused digital assets, could contribute to XRP’s growth. A critical factor bolstering this optimism is the recent behavior of “whale” investors—large entities or individuals holding substantial amounts of cryptocurrency. This whale activity has been a prominent factor in stabilizing XRP’s price and could be instrumental in its future recovery. Whale Accumulation: A Positive Signal One of the most promising trends for XRP’s outlook is the substantial accumulation by large addresses. According to data from Santiment, addresses holding between 100 million and 1 billion XRP have accumulated roughly 140 million tokens, amounting to approximately $77 million in value. This accumulation brings the total amount held in these large wallets to 9.77 billion XRP. The increase in whale holdings is a bullish indicator for several reasons: XRP’s Future: A Balancing Act While XRP has shown resilience and hints of recovery, its future remains tightly linked to regulatory developments, particularly in the U.S. The ongoing SEC lawsuit continues to cast a shadow over XRP’s full potential, with investors closely monitoring court decisions and the broader regulatory landscape for digital assets. However, positive market dynamics, such as increased whale accumulation, add an element of optimism. Moreover, Ripple’s efforts to expand its presence in regions outside of the U.S., especially in markets with clearer regulatory frameworks like Europe and Asia, could help reduce the token’s dependency on the American regulatory climate. This global approach, coupled with XRP’s use case in cross-border payments and liquidity management, could be instrumental in maintaining its position among top cryptocurrencies. Conclusion Ripple’s XRP is navigating through challenging waters, yet it is demonstrating resilience supported by strategic whale accumulation. The token’s performance, both in terms of price stability and increased large-holder interest, suggests a cautious but optimistic outlook. While the legal uncertainty with the SEC remains a critical factor for XRP’s trajectory, the recent surge in whale activity underscores investor confidence and the possibility of a more robust recovery in the coming months. As always, investors should keep an eye on regulatory news, whale activity, and Ripple’s broader strategic moves to better understand XRP’s potential trajectory in the evolving crypto landscape.

Ethereum Breaks Out: Key Signals for a Potential Rally to $3,000

Casey2 days ago23 hours ago08 mins

After nearly three months of sideways movement, Ethereum (ETH) has finally broken out of its consolidation phase. The recent price action suggests a shift in momentum, as ETH successfully moved beyond the triangle pattern that had kept it range-bound for the past 11 weeks. With this breakout, Ethereum traders and investors are looking ahead to a potential rally toward the $3,000 mark, although there are key resistance levels to consider along the way. Breakout from 11-Week Consolidation Ethereum’s price had been trading within a tightening triangle pattern, a common technical formation that indicates a period of consolidation before a decisive move. This pattern has characterized ETH’s behavior since early July 2024, with price fluctuations narrowing as the market awaited a stronger catalyst. The breakout signals a shift in market sentiment, suggesting renewed interest and bullish momentum for the asset. The upward move not only indicates the end of the consolidation phase but also suggests that market participants are becoming more confident in Ethereum’s prospects. The breakout from this pattern is generally seen as a bullish signal, with traders expecting a continuation of upward momentum. If sustained, this breakout could set the stage for a broader rally in the coming weeks. Whale Accumulation: A Strong Long-Term Indicator Another positive factor supporting Ethereum’s bullish outlook is the increase in positions held by top ETH holders, often referred to as “whales.” This accumulation trend signals confidence in the long-term value of Ethereum, especially as the asset continues to be a central player in the decentralized finance (DeFi) and non-fungible token (NFT) sectors. Historically, whale activity is considered a strong indicator of future price movements. When large holders accumulate more ETH, it often reduces the available supply in the open market, which can contribute to upward price pressure. This dynamic is further strengthened by Ethereum’s transition to a deflationary model through the implementation of EIP-1559 and its shift to proof-of-stake (PoS), which limits the issuance of new tokens and increases demand for staking. Resistance Ahead: $2,840 as a Critical Level While the breakout has generated optimism about Ethereum’s potential path to $3,000, traders should be cautious of a major resistance level at $2,840. This level could act as a strong barrier in the short term, potentially triggering a pullback if Ethereum fails to break through it decisively. The $2,840 resistance aligns with previous price action, where ETH faced selling pressure earlier in the year. It also represents a key psychological level for many traders, making it a likely point for profit-taking or increased short-selling activity. If Ethereum encounters a pullback at this level, it could temporarily stall the upward trend, leading to a retest of lower support levels before resuming its rally. What to Expect on the Road to $3,000 As Ethereum targets the $3,000 level, several factors could influence its trajectory: Short-Term Risks and Potential Pullbacks While Ethereum’s breakout and whale accumulation are encouraging, there are still risks to consider: Conclusion: A Bullish Outlook with Caution Ethereum’s breakout from the 11-week consolidation phase is a significant technical development, suggesting renewed bullish momentum. The increasing accumulation by top ETH holders provides further support for a strong long-term outlook. While a potential rally toward $3,000 is on the horizon, the $2,840 resistance could act as a critical hurdle that may trigger a short-term pullback. For investors and traders, Ethereum’s recent movements offer both opportunities and risks. The current bullish trend, backed by whale accumulation and positive market sentiment, is a promising signal. However, caution is advised as the asset approaches key resistance levels, where potential volatility could arise. Ethereum’s ability to break through these resistance levels and sustain its momentum will be crucial in determining whether the anticipated rally to $3,000 becomes a reality.

DBS Bank Launches DBS Token Services: A Game Changer for Institutional Banking

Casey3 days ago3 days ago05 mins

DBS Bank has taken a significant step forward in the banking sector by introducing DBS Token Services, a pioneering banking solution that integrates tokenization and smart contract features into its existing offerings. Announced on Friday, this innovative initiative is specifically designed for institutional clients and aims to enhance banking functions while boosting operational efficiency. A New Era of Banking The introduction of DBS Token Services marks a pivotal moment for the bank, showcasing its commitment to leveraging cutting-edge technology to improve financial services. By integrating tokenization and smart contracts, DBS is positioning itself at the forefront of a banking revolution that promises to reshape the way institutions interact with financial systems. Advanced Technology Integration At the heart of DBS Token Services is the integration of the bank’s Ethereum Virtual Machine (EVM)-compatible permissioned blockchain with its core payment engine and various industry payment systems. This integration enables instant, real-time settlements 24/7, a feature that significantly enhances the speed and efficiency of transactions. Institutions can now conduct their banking operations without the delays often associated with traditional systems, making it a compelling solution for clients who demand agility in their financial dealings. Enhanced Control and Security One of the standout features of DBS Token Services is its use of smart contracts, which empower institutions to exercise greater control over fund usage based on preset conditions. This capability not only enhances security but also improves transparency, allowing clients to monitor and manage their transactions in real time. By setting specific criteria for fund usage, institutions can ensure that their resources are allocated according to their strategic objectives while minimizing risks associated with unauthorized access or misuse. Benefits for Institutional Clients For institutional clients, the launch of DBS Token Services represents a significant advancement in how they can manage their banking needs. The benefits include: Looking Ahead DBS Bank’s introduction of DBS Token Services is a clear indication of its commitment to innovation and excellence in banking. As financial institutions increasingly look to incorporate blockchain technology and smart contracts into their operations, DBS is well-positioned to lead the charge in this transformative era. With its focus on enhancing operational efficiency and security, DBS Token Services is not just a new product; it’s a forward-thinking solution that aligns with the evolving needs of institutional clients. As the banking landscape continues to change, DBS Bank’s initiative is set to play a pivotal role in shaping the future of financial services, making banking more efficient, secure, and transparent for all stakeholders involved.

The UK’s Grassroots Adoption: A Catalyst for Crypto Sector Growth

Casey3 days ago3 days ago06 mins

In a landscape where cryptocurrencies are rapidly gaining traction, the United Kingdom stands at a pivotal crossroads. With increasing grassroots adoption, the UK has a unique opportunity to harness this momentum to foster substantial growth in its cryptocurrency sector. Jordan Wain, the UK public policy lead at Chainalysis, emphasizes this potential, pointing to the need for strategic measures to capitalize on the widespread interest in digital assets among the public. Grassroots Adoption: A Driving Force Grassroots adoption refers to the organic and widespread acceptance of cryptocurrencies among everyday users, investors, and small businesses. In the UK, this trend is becoming increasingly apparent, with more individuals engaging with cryptocurrencies for various reasons—be it investment, trading, or even everyday transactions. According to recent surveys, a significant percentage of the UK population is now familiar with cryptocurrencies, with many expressing interest in investing or using them for transactions. This increasing awareness and acceptance provide a solid foundation for the crypto sector to grow. Wain’s assertion that grassroots adoption could be leveraged indicates a recognition of the public’s evolving relationship with digital assets. The Role of Public Policy To fully realize the potential of grassroots adoption, the UK government and regulatory bodies must create a conducive environment for growth. This includes establishing clear regulations that not only protect consumers but also encourage innovation and investment in the crypto space. By doing so, the UK can position itself as a leading hub for cryptocurrency and blockchain technology, attracting businesses and investors alike. Wain advocates for a collaborative approach between policymakers and the cryptocurrency community. Engaging with industry experts and stakeholders can lead to more informed regulations that reflect the unique characteristics of the digital asset market. By fostering a dialogue between the government and the crypto sector, the UK can ensure that its regulatory framework supports innovation while addressing potential risks. Investment and Innovation A robust regulatory environment will not only support grassroots adoption but also stimulate investment in the crypto sector. As confidence grows among investors, we are likely to see increased funding for startups and established businesses within the cryptocurrency ecosystem. This investment can drive technological advancements and the development of new products and services, further enhancing the appeal of cryptocurrencies to the broader public. Moreover, as the UK embraces digital currencies, there is an opportunity to lead in emerging areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain-based solutions. By promoting innovation, the UK can attract talent and establish itself as a global leader in the crypto space. Challenges Ahead Despite the significant opportunities presented by grassroots adoption, challenges remain. Regulatory uncertainty, market volatility, and public skepticism can hinder growth. Addressing these issues will require a concerted effort from all stakeholders involved, including the government, industry leaders, and the public. Conclusion The UK’s grassroots adoption of cryptocurrencies presents a significant opportunity to foster growth within the sector. As Jordan Wain from Chainalysis highlights, leveraging this momentum through strategic public policy and collaborative engagement can position the UK as a leader in the global crypto landscape. With the right approach, the UK can transform grassroots interest into a thriving cryptocurrency ecosystem, benefiting consumers, businesses, and the economy as a whole. As the crypto landscape continues to evolve, the UK has the potential to harness its unique position to drive innovation and investment in digital assets.

US Bitcoin ETFs Surpass $20 Billion in Net Inflows, Closing in on Satoshi’s Holdings

Casey4 days ago4 days ago05 mins

In a remarkable shift within the cryptocurrency landscape, U.S. Bitcoin exchange-traded funds (ETFs) have exceeded $20 billion in net inflows, marking a significant milestone for the digital asset market. This surge in investment highlights the growing institutional interest in Bitcoin and reflects a broader acceptance of cryptocurrency as a viable asset class. Notably, when excluding the substantial outflows from Grayscale’s Bitcoin Trust (GBTC), the net inflows for the so-called “Newborn Nine” Bitcoin ETFs exceed an impressive $40 billion. A New Era for Bitcoin ETFs The approval of multiple Bitcoin ETFs in the United States has transformed the investment landscape for cryptocurrencies. These funds have made it easier for both retail and institutional investors to gain exposure to Bitcoin without the complexities of managing private keys or wallets. As the appetite for Bitcoin continues to grow, these ETFs have become a popular choice, drawing in significant capital from investors seeking to capitalize on Bitcoin’s price movements. The recent inflow surpassing $20 billion is particularly noteworthy as it signifies a growing confidence among investors in the long-term potential of Bitcoin. With the ongoing interest in digital assets, this trend is expected to continue, potentially leading to even larger investments as market conditions evolve. Grayscale’s Impact While the overall inflow numbers are impressive, the analysis becomes even more intriguing when considering the massive outflows from Grayscale’s Bitcoin Trust (GBTC). Historically, GBTC has been one of the largest institutional vehicles for Bitcoin investment. However, in recent months, it has faced challenges, leading to significant withdrawals. Excluding these outflows reveals a stark contrast: the Newborn Nine Bitcoin ETFs, which include funds launched in recent years, are experiencing net inflows exceeding $40 billion. This indicates a robust demand for new Bitcoin investment vehicles, despite the struggles faced by more established options. Satoshi’s Holdings in Perspective The total amount of Bitcoin held by Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is estimated to be around 1 million BTC. As U.S. Bitcoin ETFs continue to accumulate assets, they are gradually inching closer to this historic benchmark. The significance of this development cannot be overstated, as it symbolizes the maturation of the cryptocurrency market and the increasing institutional legitimacy of Bitcoin. Future Implications The implications of these growing inflows are profound. As more investors turn to Bitcoin ETFs, the demand for Bitcoin itself may increase, potentially driving up prices. Additionally, the entry of institutional capital into the cryptocurrency space signals a shift in market dynamics, with traditional finance recognizing the value of digital assets. Furthermore, this surge in inflows may lead to increased regulatory scrutiny as the market attracts more attention from policymakers. How regulators respond to the growth of Bitcoin ETFs and the broader cryptocurrency market will be critical in shaping the future landscape of digital assets. Conclusion The surpassing of $20 billion in net inflows for U.S. Bitcoin ETFs represents a significant turning point for the cryptocurrency market. With the exclusion of GBTC’s outflows revealing even higher net inflows, it’s clear that investor interest in Bitcoin is not waning. As these funds continue to gain traction, they may soon find themselves in a race to rival Satoshi’s legendary holdings. As the landscape evolves, all eyes will be on the Bitcoin market, watching how these developments shape the future of digital finance.

Ethereum Attempts Recovery But This Resistance Is The Key

Carole Lloyd3 years ago2 years ago04 mins

Ethereum found support near $4,065 and started a recovery against the US Dollar. ETH could continue higher if there is a clear break above $4,350. Ethereum started a recovery wave from the $4,065 support zone. The price is now trading above $4,250 and the 100 hourly simple moving average. There is a key rising channel forming with support near $4,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if there is a break below $4,240 and $4,200. Ethereum Price Eyes More Downsides Ethereum found support above $4,050 and started an upside correction, similar to bitcoin. ETH price climbed above the $4,150 and $4,200 resistance levels to start a short-term recovery wave. There was a break above the 23.6% Fib retracement level of the key decline from the $4,730 high to $4,067 low. Ether price is now trading above $4,250 and the 100 hourly simple moving average. There is also a key rising channel forming with support near $4,240 on the hourly chart of ETH/USD. An initial resistance on the upside is near the $4,300 level. The first major resistance is near the $4,350 level. The breakout zone could be near the $4,400 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the key decline from the $4,730 high to $4,067 low is also near the $4,420 zone. A close above the $4,400 and $4,420 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,550 level. Any more gains could lift the price towards the next key hurdle at $4,650. Fresh Decline in ETH? If ethereum fails to continue higher above the $4,350 and $4,400 resistance levels, it could start a fresh decline. An initial support on the downside is near the $4,250 level. The first key support is now forming near the $4,240 level. A downside break below the $4,240 support and the channel trend line might push the price further lower. The next key support is near $4,150, below which the price might slide towards the $4,065 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now declining towards the 50 level. Major Support Level – $4,240 Major Resistance Level – $4,350

Ethereum Recovers Losses, Why ETH Could Aim A Test of $5K

Carole Lloyd3 years ago2 years ago03 mins

Ethereum recovered losses and climbed above $4,700 against the US Dollar. ETH must clear the $4,850 resistance for a move towards the $5,000 level. Ethereum started a fresh increase above the $4,650 and $4,700 levels. The price is now trading above $4,700 and the 100 hourly simple moving average. There is a key rising channel forming with support near $4,735 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $4,650 support zone. Ethereum Price Eyes More Upsides Ethereum found support near the $4,450 level after a sharp decline. ETH price formed a base and started a fresh increase above the $4,600 resistance. The price was able to clear the 61.8% Fib retracement level of the last key decline from the $4,865 high to $4,452 low. There was a break above the $4,650 and $4,700 resistance levels. Ether price is now trading above $4,700 and the 100 hourly simple moving average. Besides, there is a key rising channel forming with support near $4,735 on the hourly chart of ETH/USD. An initial resistance on the upside is near the $4,800 level. Source: ETHUSD on TradingView.com The next major resistance is near the $4,850 level. A close above the $4,850 level could spark a sharp increase in the near term. In the stated case, the price might rise towards the $5,000 level. Any more gains could lift the price towards the next key hurdle at $5,200. Dips Limited in ETH? If ethereum fails to continue higher above the $4,800 and $4,850 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $4,720 level. The first key support is now forming near the $4,700 level and the channel trend line. A downside break below the $4,700 support might push the price below the $4,650 support. The next key support is near $4,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $4,650 Major Resistance Level – $4,850

Ethereum Corrects Lower, Why ETH Remains Supported For Fresh Rally

Carole Lloyd3 years ago2 years ago04 mins

Ethereum traded to a new all-time high above $4,800 before correcting lower against the US Dollar. ETH could start a fresh rally unless there is a break below $4,650. Ethereum started a downside correction below the $4,750 and $4,700 levels. The price is now trading above $4,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $4,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is no break below $4,650. Ethereum Price Eyes Fresh Increase Ethereum extended rally above the $4,650 and $4,700 resistance levels. ETH gained pace above the $4,750 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,800 and traded to a new all-time high. It traded as high as $4,839 and is currently correcting gains. There was a break below the $4,750 support level. Besides, there was a break below a major bullish trend line with support near $4,800 on the hourly chart of ETH/USD. It even traded below the 23.6% Fib retracement level of the upward move from the $4,346 swing low to $4,839 high. Ether price is now trading above $4,650 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $4,720 level. The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,800 level. Any more gains could lead the price towards the $5,000 level in the near term. Dips Supported in ETH? If ethereum fails to climb above the $4,720 and $4,750 resistance levels, it could extend its downside correction. An initial support on the downside is near the $4,680 level and the 100 hourly SMA. The first major support is also near the $4,600 level. It is close to the 50% Fib retracement level of the upward move from the $4,346 swing low to $4,839 high. Any more downsides could lead the price towards the $4,540 support. The next major support for the bulls is near the $4,460 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $4,650 Major Resistance Level – $4,750

Ethereum Remains In Uptrend, Here Are Next Possible Targets

Carole Lloyd3 years ago2 years ago04 mins

Ethereum gained pace and traded to a new all-time high above $4,650 against the US Dollar. ETH corrected gains, but dips could be limited below $4,400. Ethereum gained pace above the $4,550 and $4,600 resistance levels. The price is now trading above $4,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the $4,620 resistance in the near term. Ethereum Price Remains Supported Ethereum started a fresh increase above the $4,350 and $4,450 resistance levels. ETH gained pace above the $4,500 resistance zone and the 100 hourly simple moving average. The price even climbed above $4,600 and traded to a new all-time high. It traded as high as $4,668 before there was a downside correction. There was a break below the $4,600 level. Ether declined below the 23.6% Fib retracement level of the upward move from the $4,455 swing low to $4,668 high. It is now trading well above $4,500 and the 100 hourly SMA. There is also a key bullish trend line forming with support near $4,540 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $4,600 level. The next major resistance is near the $4,620 level. A break above the $4,620 level may possibly spark a fresh rally. The next major resistance is near the $4,700 level. Any more gains could lead the price towards the $4,800 level in the near term. Dips Supported in ETH? If ethereum fails to climb above the $4,600 and $4,620 resistance levels, it could start a downside correction. An initial support on the downside is near the $4,540 level. The first major support is near the $4,540 level and the trend line. It is close to the 50% Fib retracement level of the upward move from the $4,455 swing low to $4,668 high. Any more downsides could lead the price towards the $4,500 support. The next major support for the bulls is near the $4,450 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $4,500 Major Resistance Level – $4,620

Ethereum Turns Red, Why ETH’s Recovery Could Be Limited

Carole Lloyd3 years ago2 years ago04 mins

Ethereum is following a bearish path below $4,100 against the US Dollar. ETH could recover, but upsides might be capped near $4,050 and $4,110. Ethereum extended its decline below the $4,100 and $4,000 support levels. The price is now trading below $4,100 and the 100 hourly simple moving average. There was a break below a crucial ascending channel with support near $4,150 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline if there is a break below $3,900 in the near term. Ethereum Price Could Extend Losses Ethereum failed to stay above the $4,120 and $4,100 support levels. ETH extended its decline below $4,000 and moved into a bearish zone, like bitcoin. There was also a close below the $4,000 level and the 100 hourly simple moving average. Besides, there was a break below a crucial ascending channel with support near $4,150 on the hourly chart of ETH/USD. The price spiked below the $3,920 level and traded as low as $3,889. Ether price is now consolidating losses above the $3,900 level. The price is trading above the 23.6% Fib retracement level of the downward move from the $4,313 swing high to $3,889 low. An immediate resistance on the upside is near the $4,010 level and a declining channel on the same chart. Source: ETHUSD on TradingView.com The next major resistance is near the $4,100 level. It is near the 50% Fib retracement level of the downward move from the $4,313 swing high to $3,889 low. A break above the $4,100 level may possibly push the price above the $4,200 level in the near term. Any more gains could lead the price towards the $4,320 level. More Losses in ETH? If ethereum fails to recover above the $4,050 and $4,100 resistance levels, it could continue to move down. An initial support on the downside is near the $3,950 level. The first major support is near the $3,920 level. The main support is near the $3,900 level. Any more downsides could lead the price towards the $3,800 support. The next major support for the bulls is near the $3,720 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is still below the 50 level. Major Support Level – $3,900 Major Resistance Level – $4,100