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Ethereum [ETH/USD] Price Analysis: Green markets in the offing as coin finds bullish support

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The day began with Ethereum [ETH], the second largest cryptocurrency by market cap, sparking a little bit of red and a little bit of green. Despite the constant appearance of the bear in the coin’s realm, the bull continues to have a grip over the coin’s future.

According to CoinMarketCap, at press time, Ethereum was trading at $123.07 with a market cap of $12.9 billion. The coin has a trading volume of $3.42 billion and has witnessed a rise of over 16% in the past seven days.

1-hour

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: Trading View

The downtrend for the cryptocurrency in the one-hour chart is outlined from $123.93 to $123.18 and further down till $122.80. On the other hand, the uptrend for the coin is pictured from $103.27 to $120.66. The resistance levels for the coin are set at $122.81 and $123.96. The coin’s immediate support is at $119.78 and the main support is at $103.08.

Klinger Oscillator is currently forecasting a bearish market as the signal line and the reading line had a crossover in the market with reading line deciding to take the direction pointing south.

Bollinger Bands are forecasting a less volatile market for the currency as the bands are pictured contracting and moving close to each other.

RSI continues to show that the buying pressure is evened out by the selling pressure in the market for this cryptocurrency.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

In the one-day chart, the downtrend is demonstrated from $317.55 to $123.93. The coin’s uptrend is recorded from $83.74 to $103.22. The immediate resistance for the coin is pictured at $123.99 and there is also strong resistance at $156.02. On the other hand, the cryptocurrency has set its immediate support at $103.20 and its strong support at $82.92.

MACD has pictured the moving average line above the signal line after a crossover, paving path for a bull run to take place.

Chaikin Money Flow is seen making a leap towards the bull’s market as the line is pictured making an effort to cross over the zero line.

Parabolic SAR is forecasting a green market for the coin in the long-run as the dots have aligned below the candlesticks.

Conclusion

Despite the short bearish weather, the market is still indicating a bullish market for the coin in the coming days. This is because of the support of the long term indicators, MACD and Parabolic SAR from the one-day chart.

Source. ambcrypto

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Ethereum

Ethereum price spikes 15% in seven days: ETH/USD capped below $130

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  • Ethereum overdue Constantinople upgrade scheduled for late February.
  • Ethereum defends $120 vital support while trading above the ascending trendline.

It is seven days after the bull rally that saw Ethereum add more than 15% to its market value. The gains were a welcome gesture following the losses that had sent Ethereum close to the primary support at $100.00. The bullish wave pushed ETH/USD above the key barriers at $110 and $120.

Meanwhile, Ethereum developers are preparing for the long overdue Constantinople. The upgrade was delayed after vulnerabilities were detected mid-January. However, the upgrade is likely to take place later this month at block height 7,280,000. This upgrade is only laying the framework for Ethereum 2.0; an upgrade that will see Ethereum incorporate the much-awaited Proof of Stake (PoS) as well as increase the network’s capacity to at least 1,000 transactions per second.

In the meantime, Ethereum is trading at $122.44. The asset is supported immediately by the hourly 50-day Simple Moving Average. The 100-day SMA act as another support line at $122. Looking at the char, while Ethereum upside is limited below $130, the asset has sustained trading above the bullish trendline. In the event bears increase their grip, the price could bounce back on touching the trendline and prevent declines towards $120 (vital support). The previous resistance zones at $110 and $105 will also offer support.

ETH/USD 1-hour chart

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Ethereum (ETH/USD) forecast and analysis on February 15, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 121. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) forecast and analysis on February 15, 2019

As part of the Ethereum course forecast, a test of level 119 is expected. From where we can expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 131. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 118.

Ethereum (ETH/USD) forecast and analysis on February 15, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of ​​113. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on February 15, 2019 implies a test level of 119. Further growth is expected to continue to the area above the level of 131. The conservative area for buying Ethereum is located area of ​​118. The cancellation of the growth option of cryptocurrency will be a breakdown of the level of 113. In this case, we can expect continuation the fall.

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Ethereum [ETH]: Cryptopia to resume operations a month after hack stole $16 million in Ethereum

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The New Zealand-based cryptocurrency exchange Cryptopia has resumed operations following a green light from the local police, a month after the exchange was hacked.

Cryptopia boasts 2 million users globally and offers trading for a host of notable cryptocurrencies. The main hack, which took place on January 14, and the hack that followed on the January 28, cost the exchange an estimated $16.1 million [or over $23 million in New Zealand Dollars], with a large proportion of funds taken out of Ethereum [ETH] wallets.

At press time, the company’s website is non-operational. However, a message regarding the hack and an update about its co-operation with local authorities has been posted. It stated:

“Cryptopia has notified and is cooperating with the appropriate government agencies, including the NZ Police and High Tech Crimes Unit.”

Furthermore, the exchange posted on their official Twitter account following a month of inactivity. In the tweet, Cryptopia stated that the exchange is working tirelessly to ensure that the stolen funds are retrieved as soon as possible. It read:“Update: The police have now given us access back to our building, while they continue their investigations. Our staff are working relentlessly to evaluate the funds that were stolen.”

The significant part of the work by the investigating High Tech Crimes Unit has been completed at the Christchurch office of Cryptopia, as confirmed by Greg Murton, a Detective Inspector. Additionally, the authorities stated that the exchange now has full access to their business premises, which was also confirmed by Cryptopia in the above tweet.

Murton did not confirm the quantity or value of virtual currencies stolen during the hack. However, he did state that the police are not interfering with the exchange in the investigation and that the latter is free to commence their operations, without any hindrances.

Earlier in the month, the local police had stated that the investigation was going well and that the process will take a “considerable amount of time to resolve due to the complexity of the cyber environment”.

Twitter users are not happy that the exchange was locked up for over a month and that the accounts were frozen, with no access or any notification from the company’s end.

Twitter users, however, remain skeptical about the announcement. One of them, @CryptoSurvivor, replied to Cryptopia’s tweet:“Thats not good enough. It’s been exactly one month. About time we get to our respective accounts and protect our funds. You obviously have no clue how. Take the hit and be accountable for your mismanagement.”

@Domienbueds, commented,“We just want our funds back! Its been long enough!”

@RobertRenders stated,“Thank you for this update. As we all know, nothing so frustrating as not knowing or getting no response. Hope current circumstances suit the team better and allows it to give clients an update on a daily (?) basis. Even if it doesn’t entail much.. Good luck with the task at hand”

Source. ambcrypto

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