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ANALYSIS Ethereum [ETH] and Tron [TRX] Price Analysis: Bullish projection persists as ETH price break out patterns

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The latest Bitcoin-propelled rally pushed the collective crypto-market to fresh gains. The bulls broke resistance levels for both Ethereum [ETH] and Tron [TRX].

At press time, the second largest crypto-asset ETH held a market cap of $17.27 billion and was priced at $163.6, according to the CoinMarketCap. The coin recorded a 24-hour trading volume of $6.75 billion and exhibited a slight decline of 0.76% during the same time frame. ETH further exhibited a major 14.66% rise over the week.

The eleventh largest digital asset, Tron [TRX], registered a market cap of $1.77 million and a 24-hour trading volume of $369.1 million. TRX was valued at $0.026 and exhibited a slip of $1.84% over the past 24 hours. Additionally, a significant surge of 13.72% was seen over the last seven days.

ETH 1-day:

The one-day ETH chart exhibited an uptrend from $84.92 to $105.5, followed by a minor uptrend from $105.5 to $134.9. A major downtrend from $220.7 to $146.5 was also seen. The resistances for the chart were found at $179.4 and $213.4, while the support lines held their ground at $118.3 and $102.2.

Bollinger Bands: The bands were diverging from each other and depicted a highly volatile period for the coin.

An uptrend from $0.013-$0.023 and a downtrend from $0.037 to $0.020 was registered for the candlestick arrangement of the one-day TRX chart. The resistances for the chart was found at $0.039 and $0.030 along with the support points at $0.018 and $0.014.

Parabolic SAR: The dotted markers were below the candles, depicting a bullish future for the coin.

 

The latest Bitcoin-propelled rally pushed the collective crypto-market to fresh gains. The bulls broke resistance levels for both Ethereum [ETH] and Tron [TRX].

At press time, the second largest crypto-asset ETH held a market cap of $17.27 billion and was priced at $163.6, according to the CoinMarketCap. The coin recorded a 24-hour trading volume of $6.75 billion and exhibited a slight decline of 0.76% during the same time frame. ETH further exhibited a major 14.66% rise over the week.

The eleventh largest digital asset, Tron [TRX], registered a market cap of $1.77 million and a 24-hour trading volume of $369.1 million. TRX was valued at $0.026 and exhibited a slip of $1.84% over the past 24 hours. Additionally, a significant surge of 13.72% was seen over the last seven days.

ETH 1-day:

Source: TradingView

The one-day ETH chart exhibited an uptrend from $84.92 to $105.5, followed by a minor uptrend from $105.5 to $134.9. A major downtrend from $220.7 to $146.5 was also seen. The resistances for the chart were found at $179.4 and $213.4, while the support lines held their ground at $118.3 and $102.2.

Bollinger Bands: The bands were diverging from each other and depicted a highly volatile period for the coin.

Awesome Oscillator: The closing lines were green and a bullish phase was predicted for ETH.

Chaikin Money Flow: The CMF was treading above the zero-line, indicating money flow into the market.

TRX 1-day:

SourceTraingView

An uptrend from $0.013-$0.023 and a downtrend from $0.037 to $0.020 was registered for the candlestick arrangement of the one-day TRX chart. The resistances for the chart was found at $0.039 and $0.030 along with the support points at $0.018 and $0.014.

Parabolic SAR: The dotted markers were below the candles, depicting a bullish future for the coin.

MACD: The MACD line was above the signal line, which further indicated that the coin was following a bullish trail.

Klinger Oscillator: The reading line was also above the signal line and predicted a bullish trend for TRX.

Conclusion:

The indicators exhibited strong bullish signals for both the digital assets. Additionally, ETH projected a potential price break-out patterns with expanding BB.

 

 

Ethereum

Ethereum price analysis: ETH/USD bulls struggle at $228 – resistance level

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  • ETH/USD is currently trading around $222 in the early hours of Saturday.
  • The SMA 50 curve has crossed over the SMA 20 curve.

ETH/USD had a bearish Friday, wherein the price fell from $226.40 to $221.60. In the early hours of Saturday, the price has gone up slightly to $22. The hourly chart shows us that there are two intra-day resistances at $226 and $224.50. After finding support at $216.35, the price was able to get up steadily to $222.

ETH/USD daily chart

fxsoriginal

The price has re-entered the 20-day Bollinger band after the bulls stepped back in to correct ETH/USD. The 50-day simple moving average (SMA 50) has crossed over the SMA 20 curve, which is a bearish signal. The relative strength index (RSI) indicator is trending around 39.50, right next to the oversold zone. The Elliot oscillator has had two bullish sessions after nine straight bearish sessions. The moving average convergence/divergence (MACD) indicator shows sustained bearish momentum.

source:.fxstreet

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Ethereum

Ethereum (ETH) Bulls Slow Down, Ceiling At $230

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  • Ethereum (ETH) is down 18.2 percent
  • Set Labs launching an ETH trading robot

As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated by their direct correlation, the former could drag ETH prices lower. Even so, that is not stopping Set Labs from launching a trading bot.

Ethereum Price Analysis

Fundamentals

Blockchain is an emerging, multifaceted sub-sector. As a conflation of different fields, it is both inspiring and exciting meaning related startups will almost always attract capital. Of the many platforms promising high throughput and scalability, Ethereum remains a top choice for good reasons.

Like Bitcoin, Ethereum was the first platform in the smart contracting arena. Listed in different exchanges, ETH is desirable. Even though there are bumps in the short-term as developers negotiate their way around building a scalable network, the future is irrefutably bright. Case in point the different enhancement through code changes drawings carcity and hard forks that promise to cement Ethereum in its rightful place.

Perhaps in preparation for the future, Set Labs, an investment platform in San Francisco is launching a cryptocurrency trading robot that will take advantage of volatility to benefit investors. The robot, “Trend Trading ETH 20 Day Simple Moving Average Crossover Set” will be a momentum-based bot and back tested.

According to creators, the robot will only make traders “whenever the current price of ETH crosses the 20 Day Simple Moving Average indicator.”

Candlestick Arrangement

Ethereum ETH

Down 18.2 percent in the last week, ETH is bearish. Because of this, the recent pullback is but another opportunity for savvy traders to unload ETH at better prices. Despite the attractive and supportive fundamental opportunities, the path of least resistance as per candlestick arrangement is southwards.

Visible, ETH is trading within a bear break out pattern following steep losses of early July. Therefore, according to breakout rules, every retracement towards previous support-at $230, is but a selling opportunity.

The first target will be $190 and later $150 depending on the accompanying momentum. On the other hand, if prices surge past $230 and the previous support, now resistance, trend line, that as well could be the foundation for $365 invalidating this trade plan’s projection.

Technical Indicators

From above, whether buyers flourish is heavily reliant on the level of participation. If trading volumes spike, exceeding 554k of June 26 subsequently lifting prices above June high then bulls of May will be in control. However, suppose prices tumble with equally high trading volumes then ETH could end up sliding to $150 or $100 in coming weeks.

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Ethereum

Ethereum (ETH) Bulls Slow Down, Ceiling At $230

Published

on

  • Ethereum (ETH) is down 18.2 percent
  • Set Labs launching an ETH trading robot

As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated by their direct correlation, the former could drag ETH prices lower. Even so, that is not stopping Set Labs from launching a trading bot.

Ethereum Price Analysis

Fundamentals

Blockchain is an emerging, multifaceted sub-sector. As a conflation of different fields, it is both inspiring and exciting meaning related startups will almost always attract capital. Of the many platforms promising high throughput and scalability, Ethereum remains a top choice for good reasons.

Like Bitcoin, Ethereum was the first platform in the smart contracting arena. Listed in different exchanges, ETH is desirable. Even though there are bumps in the short-term as developers negotiate their way around building a scalable network, the future is irrefutably bright. Case in point the different enhancement through code changes drawing scarcity and hard forks that promise to cement Ethereum in its rightful place.

Perhaps in preparation for the future, Set Labs, an investment platform in San Francisco is launching a cryptocurrency trading robot that will take advantage of volatility to benefit investors. The robot, “Trend Trading ETH 20 Day Simple Moving Average Crossover Set” will be a momentum-based bot and back tested.

According to creators, the robot will only make traders “whenever the current price of ETH crosses the 20 Day Simple Moving Average indicator.”

Candlestick Arrangement

Ethereum ETH

Down 18.2 percent in the last week, ETH is bearish. Because of this, the recent pullback is but another opportunity for savvy traders to unload ETH at better prices. Despite the attractive and supportive fundamental opportunities, the path of least resistance as per candlestick arrangement is southwards.

Visible, ETH is trading within a bear break out pattern following steep losses of early July. Therefore, according to breakout rules, every retracement towards previous support-at $230, is but a selling opportunity.

The first target will be $190 and later $150 depending on the accompanying momentum. On the other hand, if prices surge past $230 and the previous support, now resistance, trend line, that as well could be the foundation for $365 invalidating this trade plan’s projection.

Technical Indicators

From above, whether buyers flourish is heavily reliant on the level of participation. If trading volumes spike, exceeding 554k of June 26 subsequently lifting prices above June high then bulls of May will be in control. However, suppose prices tumble with equally high trading volumes then ETH could end up sliding to $150 or $100 in coming weeks.

News Source

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