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Ethereum

Ethereum [ETH/USD] and Tron [TRX/USD] Price Analysis: Price consolidation becomes apparent even as market momentum becomes positive

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The cryptocurrency market’s volatile movement was put on show again as the prices bounced slightly in the bullish spectrum of the chart. The volatility was apparent throughout the entire market as cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] were all affected by the market fluctuations. Ethereum has been enjoying a slow and steady climb on the charts recently with the main aim of keeping its closest rival in terms of price, XRP, at bay.

Ethereum 1 day:

Source: TradingView

The one-day graph for Ethereum showed a downtrend that lowered the price from $218.44 to $164.78. The long-term support was holding at $81.78.

The Parabolic SAR was above the price candles which meant that Tron was going through a bullish atmosphere.

The Relative Strength Index was close to the overbought zone, a sign of the buying pressure being more than the selling pressure.

The MACD indicator saw the MACD line and the signal line undergoing a bearish crossover. The MACD histogram was a mix of bearish and bullish signals.

Tron 1 day:

Source: TradingView

Source: TradingView

Tron’s one-day graph painted a picture opposite to that of Ethereum as multiple uptrends lifted the price from $0.013 to $0.026. The Justin Sun-led cryptocurrency’s long-term support was at $0.0117.

The Bollinger bands had started a convergence after the end of the recent bull run. The Bollinger cloud was at its 2019 peak as the last major outbreak occurred in the middle of December 2018.

The Chaikin Money Flow indicator was below the zero line which meant that the capital leaving the market was more than the capital coming into the market.

The Awesome Oscillator had increased in amplitude, indicating the spike in the Tron market momentum.

Conclusion:

The indicators mentioned above point to the prices in the market consolidating after the sudden bullish spike. The charts also show that the prices have settled into a sideways groove as the bear regained control of the cryptocurrency market.

Source: ambcrypto

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Ethereum

Ethereum Price Prediction: ETH/USD may break below $150 – Confluence Detector

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  • ETH/USD dropped by 8.5% within one hour.
  • Bears took the price from $165.35 to $151.15 before it recovered to $153.

ETH/USD lost a staggering 8.5% of its price within a single hour this Thursday. In the process, bears managed to break below the $160-mark as the price plummeted from $165.35 to $151.15. The confluence detector shows weak support levels on the downside as the price is expected to drop even lower if the bears keep maintaining their momentum. For now, the bulls have managed to take the price up to $153.

ETH/USD Confluence Detector

The resistance levels are at $162, $164.50-$166.50, $169-$171. At $162 we have a confluence of 15-min previous high, daily previous low, monthly pivot point resistance 2, daily pivot point support 1, and SMA 5.

From $164.50-$166.50 the confluences are Weekly 61.8% Fibonacciretracement level, hourly Bollinger band middle curve, 15-min Bollinger band middle curve, SMA 50, SMA 5, SMA 100, SMA 10, 4-hour previous low, daily 38.2% Fibonacci retracement level hourly previous high, and SMA 200.

Finally, at $169-$171, we have 4-hour Bollinger band middle curve, weekly 38.2% Fibonacci retracement level, SMA 100, SMA 10, daily Bollinger band middle curve, SMA 5, 15-min Bollinger band upper curve, SMA 200, and SMA 50.

On the downside, there are support levels at $138, $141, $149, and $152. At $138, we have the monthly 38.2% Fibonacci retracement level while at $141, the confluences are the weekly pivot point support 3 and monthly 23.6% Fibonacci retracement level. We then observe the confluence of 15-min previous low, weekly pivot support 2, and SMA 200 ar $149. Finally, at $152 we have SMA 50 and monthly pivot point resistance 1.

Source.fxstreet

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Ethereum

Ethereum Price Prediction: ETH/USD $155-150 must hold or face big trouble – Confluence Detector

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  • Ethereum price in the second half of trading on Thursday is trading in the red, nursing losses of 1.25%.
  • Eyes on a critical near-term support area observed at the $155-150 price range.

Ethereum price on Thursday in the second half of the session is trading in the red, down some 1.25%. ETH/USD bears continue to pile on the pressure after running into big sellers within the $180 region.

ETH/USD has struggled through the month, after an initially promising start with the early April advances. The price had moved to its highest level since November 2018, before running into heavy sellers within the $180 region, a key area ahead of $200 territory.

Looking via the daily confluence detector, firstly the barriers of support; $161.71, monthly, weekly and daily pivot point support, $156.58, daily pivot point support. To the upside in terms of resistance; $168.54, weekly 38.2% Fibonacci, $170.25, daily pivot point resistance.

ETH/USD daily confluence detector 

 

 

source : fxstreet

 

 

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Bitcoin

Bitcoin (BTC) Truly Decentralized, Ripple (XRP) and Ethereum (ETH) Are Horrible Projects: Analyst

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True, since the creation of Bitcoin in 2008, thousands of other digital currencies have been active in the space. All the same, Bitcoin is perhaps the only true trustless project while altcoins are just bidding on what they seek to offer.

Bitcoin is Truly Decentralized

Bitcoin is working with the idea of a trustless and a decentralized network. While other altcoins also claim the same values, they don’t have the unique blend that Bitcoin does. At first sight, it is clear to see that the creator of Bitcoin is still unknown, which makes the project as trustless as it could be since there is no interference from the founder.

Many developers continue to contribute to the Bitcoin ecosystem, but none of them can claim with certainty that they are the brains behind it. However, other cryptocurrencies created afterward all had founders, which in most cases are famous figures. Their opinion plays a huge role in some crucial activities, and this doesn’t make their networks trustless in the real sense.

Tone Vays, a derivatives trader, analysts, and content creator is of the view that people overestimate the legitimacy of useless tokens that make it into the Top 10. According to the influential figure, ETH, and XRP are horrible projects that have been next to Bitcoin over the past few years. However, he listed some projects that were amongst the top-ranked a while back but are no longer around.

In his image, he made available an image that highlights some leading cryptocurrencies that are now defunct. He tweeted that “The above image took a lot of time & I probably missed a few, so I reached out to my friends at @DataLightMe for some raw data on this. Even this list is incomplete as it’s hard to identify Top 10 #Shitcoins that no longer exists. [Insanity Highlighted]”

Some Leading Projects Are Now Defunct

The image shows some projects such as Lxcoin, CHNCoin, Bullion, Freicoin, Devcoin, and more that have been discontinued. He also highlights others that were amongst the leading cryptocurrencies at one point but are now way down on the ranking list. Some of the cryptos include; Auroracoin, Namecoin, NXT, Peercoin, Paycoin, The Dao, Primecoin, DigixDao, Omni, and many more.

Since 2013, the top 10 ranking list has changed so many times that it is hard to keep track of legitimate projects. Bitcoin has been the only constant, with Ethereum, Litecoin, and XRP a few others that continue to retain their spots.

Thus, Tone Vays concludes that:

Bitcoin is different, it’s already: Fast enough, anonymous enough and, cheap enough. Today its greatest asset is the fact that it is the only trustless project that exists in the world & that is what gives it its Decentralization & Financial Valuation. The OTHERS are STATUS QUO

While there have been arguments in support of other cryptocurrencies, it is worthy to note that Bitcoin is still cryptocurrency that decides the direction of the market. It is the project by which others are compared. It’s market dominance which is over 50 percent shows that investors and traders have more trust in Bitcoin that other cryptocurrencies.

Even though it is unclear how the cryptocurrency list will look in a few years, you can predict that Bitcoin will continue to lead the market just by looking at historical charts.

Source:ethereumworldnews

 

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