Cryptocurrency Ethereum (ETH/USD) is trading at 131. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on March 15, 2019
As part of the Ethereum forecast, a test of level 134 is expected. From where we can expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The purpose of this movement is the area near the level of 123. The conservative area for Ethereum sales is located near the upper border of the Bollinger Bands indicator strip at level 136.
Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 142. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower 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 March 15, 2019 implies a test level of 134. Further, it is expected to continue falling to the area below the level of 123. The conservative area for selling Ethereum is located area of 136. Canceling the option of falling cryptocurrency will be a breakdown of the level of 142. In this case, we can expect continuation growth.
Ethereum Price Analysis: ETH Back In Familiar Range, Can Buyers Take Control?
- ETH price recovered nicely from the $132 support level and traded above $134 against the US Dollar.
- The price even cleared the $135 and $136 resistance levels, but upsides remain capped.
- There is a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair might face a strong resistance near the $138 level and it could drop back to $135.
Ethereum price is slowly recovering higher against the US Dollar and bitcoin. However, there are many hurdles for ETH buyers near the $138 and $139 levels.
Ethereum Price Analysis
Recently, we saw a major drop in ETH price below the $134 support level against the US Dollar. The ETH/USD pair traded close to the $132 support level and later started a decent recovery. It climbed back above the $134 and $135 resistance levels. There was also a close above the $135 level and the 50% Fib retracement level of the recent decline from the $140 swing high to $132 low. However, there are still many hurdled for buyers on the upside, starting with $137 and ending near $140.
The price is currently trading near the $137 resistance and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the recent decline from the $140 swing high to $132 low is also near the $137 level. On the upside, there is a strong resistance formed near the $138 level. There is also a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD.
Below the trend line, the 76.4% Fib retracement level of the recent decline from the $140 swing high to $132 low is positioned. Therefore, if the price continues to move higher, it could face sellers near the $137 and $138 levels. The next main resistance is near the $140 level, which prevented gains on many occasions recently. On the downside, an initial support is at $135. A break below the $135 level may push the price back towards the $132 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is showing positive signs and it could move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is now well above the 50 level and it is moving higher towards the 60 level.
Major Support Level – $135
Major Resistance Level – $137
Ethereum [ETH/USD] Price Analysis: Coin bids adieu to bull market as bears take over
Ethereum [ETH], the second largest cryptocurrency by market cap, indicated the presence of both the bull and the bear. According to CoinMarketCap, the cryptocurrency was trading at $136.39 with a market cap of $14.36 billion, at press time. The coin displayed a trading volume of $5.06 billion, and a rise of 1.47 percentage in the past seven days. The coin also dropped by 2.79 percentage in the last 24 hours.
In the one-hour chart, the cryptocurrency demonstrated downtrends from $142.52 to $138.83, and from $138.43 to $134.85. The uptrend for the coin was outlined from $132.91 to $134.49.
The coin’s immediate resistance was pictured at $138.94, and strong resistance was laid at $140.21. The immediate support for the cryptocurrency was found at $132.75, and there was strong support at $130.69.
Parabolic SAR indicated a bullish market for the coin as the dotted lines were below the candlesticks.
Chaikin Money Flow forecast the opposite, as the money flow took the exit route.
Bollinger Bands diverged, suggesting some volatility and price movement for the coin.
In the one-day chart, the downtrends were displayed from $218.66 to $157.56, and further from $157.55 to $138.72. The first uptrend for the currency was drawn from $82.92 to $103.22, while the second extended from $103.22 to $134.41.
The immediate resistance for the cryptocurrency was at $140.53, and strong resistance was at $157.60. The coin’s immediate support was at $125.09, and strong support was seen at $103.13 and $82.79.
Klinger Oscillator showed that the bull was losing out as the reading line was pictured below the signal line after a crossover.
RSI indicated that the buying pressure and selling pressure for the cryptocurrency evened each other out.
MACD forecast the bear’s position to be well ahead of the bull, as the moving average line dipped below the signal line right after a crossover.
The market suggested a strong bearish presence for the cryptocurrency, and a fading bullish presence. This was attributed to the MACD and Klinger Oscillator from the one-day chart, and CMF from one-day chart siding with the bear.
Ethereum’s [ETH] Vitalik Buterin says ICO boom would have happened regardless of the platform
Vitalik Buterin, creator of the second largest cryptocurrency and leading smart contract platform, Ethereum [ETH], spoke about the end of the ICO boom, during an Unchained Live event with Laura Shin.
Buterin had previously stated that the next bull run, unlike the earlier one, was going to be built on the application of technology, instead of hype. During the event, Laura asked Vitalik about the end of ICO mania, considering the “fact that a large part” of Ethereum’s success was because of the ICO craze.
Buterin agreed that it was “definitely true” to an extent, adding that the ICO boom would have happened regardless of the platform. He further stated that projects such as Mastercoin were built on Bitcoin, before the launch of Ethereum. He said,
This was followed by Buterin stating that it was a “complex situation,” due to factors associated with costs and benefits. Nonetheless, he added that one of the biggest benefits was that a lot of interesting projects were getting funded. He added,“[…] and you know there’s a lot of big Ethereum projects that had token sales. There’s a lot of projects that did not have token sales, but had tokens that launched in other ways, Maker being one example. The fact that they have money for development is, I think, just a good and useful thing.”
He also spoke about the downside of the ICO market, and remarked that it was “definitely one of the biggest costs.” He said,“Yeah there’s a bunch of stuff that I’m like apparently an advisor for and there are my 10,000 Instagramaccounts. They’re all scams there yeah and are very unfortunate things. If there were magical ones which could have like shut them all down, that probably would have been better, but the magic ones don’t exist.”