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Ethereum

Ethereum Price Analysis – ETH Managed to Carry on Rising

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The ETH is rising for the second day in a row, trading around $208.62 on May 14, following the BTC and other cryptos.

On D1, Buterin’s coin continues its uptrend, with the price having reached the current channel resistance. Once the latter gets broken out, the crypto will be able to reach the projection channel resistance at $257.60, or 23.60% Fibo; the rise may then continue even further. The support is meanwhile at $160.

Ethereum Price Analysis Daily

On H4, the ETH is testing the current channel resistance, and may pull back in the short term, once the local support is broken out and the price heads to 23.60% Fibo, or $199.52. The next targets are lying at 38.20%, or $189.93, and 50%, or $182.13.

Ethereum Price Chart H4

Ethereum is getting ready for a huge update that would raise the transaction speed and improve security. The new Sapphire network based on Casper PoS protocol for Ethereum 2.0 is now working in sandbox mode, and the users may already test a new mining scheme, ETH stacking. Unlike traditional mining, in this mode, one may store crypto coins on in-built wallets. The coins may be then transferred from the sandbox to the new network, and both penalties and rewards may be earned.

 

source :nulltx.

Ethereum

Ethereum price analysis: ETH/USD continues to trend in a downward channel formation

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  • ETH/USD bears are looking to drop the price below the Bollinger Band.
  • The Relative Strength Index (RSI) indicator is trending around 34.35.

ETH/USD daily chart

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ETH/USD failed at the $150-level this Monday and has strung together three consecutive bearish days as it trends in a downward channel formation. This Wednesday, ETH/USD dropped from $145.85 to $143.25. The 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves are floating above the price. The 20-day Bollinger Band has narrowed, indicating decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around 34.35, while the Elliott Oscillator has had seven straight green sessions. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.


 

  • ETH/USD bears are looking to drop the price below the Bollinger Band.
  • The Relative Strength Index (RSI) indicator is trending around 34.35.

ETH/USD daily chart

fxsoriginal

ETH/USD failed at the $150-level this Monday and has strung together three consecutive bearish days as it trends in a downward channel formation. This Wednesday, ETH/USD dropped from $145.85 to $143.25. The 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves are floating above the price. The 20-day Bollinger Band has narrowed, indicating decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around 34.35, while the Elliott Oscillator has had seven straight green sessions. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.

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Ethereum

Ethereum Could Be the Defining Factor That Guides Other Altcoins, Claims Analyst

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Ethereum has had a turbulent week, with much of its recent price action favoring sellers as the crypto has faced a steady stream of downwards pressure in the time following ETH’s recent visit to over $150 earlier this past week.

Although all eyes are closely watching Bitcoin’s near-term price action, it is important to note that one analyst believes that where Ethereum heads in the coming days could provide significant guidance to other major altcoins, regardless of BTC.

Ethereum Stuck in Firm Short-Term Downtrend

At the time of writing, Ethereum is trading down just under 2% at its current price of $143, which marks a notable decline from its weekly highs of $153 that were set just a few days ago.

ETH’s climb above $150 was fleeting, as it appears that this is a resistance region for the crypto, with each visit to this level slowing any momentum and invalidating any signs of bullishness.

Currently, ETH is trading at its lowest price of the week, and the lower-$140 region has been an important support level for ETH in the time following its recent drop down to lows of $134 in late-November.

Nik Patel, a popular cryptocurrency analyst, shared his thoughts on Ethereum’s price action in a recent blog post, in which he notes that its market structure currently remains bearish as it struggles to break above $150.

“For ETH/USD, market structure remains bearish with support turned resistance at $150 capping price. The next area of support is $130. I expect that Ethereum is awaiting Bitcoin’s next major move before picking a direction,” he said.

Will ETH’s Next Move Guide the Entire Altcoin Market?

Although Patel believes that Ethereum’s next notable movement will come about as a result of Bitcoin’s price action, The Cryptomist – another popular crypto analyst – explained in a recent tweet that she believes that ETH may soon make a bullish movement independent of BTC.

She further noted that this upwards movement could spark some bullish momentum across other major altcoins.

“$ETH: You can see the stop hunts below support of this 3 day falling wedge, but support stands. 1D – Heikin Ashi displays possibility of reversal. Only hint of bearish I can see is the double top on RSI. Am monitoring this -could be rewarding move up, which will push alts also.”

It is highly probable that the coming few hours and days will help shine a light on whether or not altcoins like Ethereum will be able to begin gaining any momentum independent of Bitcoin.

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Ethereum technical analysis: ETH/USD bearish flag structure remains subject to a breakout

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ethereum
  • Ethereum price is trading in the red, down 0.15% the session on Wednesday. 
  • ETH/USD trading conditions are extremely tight, as the price moves within a flag pattern. 
  • The price over the last 11 days has been moving within a $5-7 range. 

ETH/USD 60-minute chart

Price action via the 60-minute chart view remains bearish, moving within a pennant structure, vulnerable to downside risks. 

ETH/USD daily chart

The range via the daily remains narrow, to the high of $150, a big barrier and to the low of $145. A tight $5 range, which continues to contain the price. 

Spot rate:                  145.64

Relative change:      -0.15%

High:                           146.48

Low:                           144.99

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Source: fxstreet

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