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Ethereum Price Analysis April 17: ETH Is Facing The $170, But Looks Awful Against Bitcoin

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Ethereum has had a rough week after dropping by 8%, bringing the current trading price down to around $166. The market is struggling to make a movement above the present resistance of the $170 area.

Despite the recent turbulence, Ethereum remains up by 19% over the past 30 days and up by 36% over the past 90 days. Ethereum currently holds a $17.55 billion market cap valuation which places the smart contract project in the second place of the top cryptocurrencies by market cap.

Looking at the ETH/USD 1-Day Chart:

  • Since our previous ETH/USD analysis, we can see that the market continues to struggle to break above the resistance of $170.80, where lies the bearish .618 Fibonacci Retracement level. This retracement is measured from the November 2018 high, before Bitcoin’s price had collapsed from the $6000, to the December 2018 low of $3120. We can see the market had recently dropped toward support at $160 before bouncing back higher.
  • From above: The nearest level of resistance is located at $170. Above this, higher resistance lies at the $185 level, which contains a 1.272 Fibonacci Extension level. Above $180, further resistance is expected at $194.60, where lies the bearish .786 Fibonacci Retracement and then at the $200 significant resistance level.
  • From below: The nearest level of support lies at $160. Beneath this, further support can be located at $152 and then the 100-days moving average around $150. Further support lies at $140 and $135.
  • The trading volume has been steadily decreasing throughout April as the bullish run settles down.
  • The Stochastic RSI is positioned for a crossover above which would indicate that the bullish pressure may about to increase. The RSI is trading along with the 50 level which is a sign that the market is indecisive about which direction to head at.

eth_usd_17apr19-min

Looking at the ETH/BTC 1-Day Chart:

  • Following our previous ETH/BTC analysis, against Bitcoin, we can see that ETH has fallen even lower into the 0.03180 BTC area. The coin had struggled to break above a descending triangle formation during March 2019 and has plummeted through the bottom of this wedge.
  • From above: The nearest level of resistance lies at 0.0325 BTC. Above this, further resistance is at 0.0335 BTC, which was the base of the mentioned descending triangle along with the 100-day moving average line.
  • From below: The nearest level of support lies at 0.0315 BTC. Beneath, further support can be expected at 0.030 BTC which is the October 2018 low. Beneath 0.030 BTC, more support lies at a 0.0291 BTC which contains a downside 1.618 Fibonacci Extension level.
  • The trading volume has decreased since the start of the month but has started to show signs of increasing.
  • The RSI lies below the 50 levels as the bears take charge of the momentum.

eth_btc_17apr19-min Source:cryptopotato

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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