If the last couple of weeks have been anything to go by, Ethereum’s future is bright. The altcoin has been recording significant gains and has managed to set a bullish pattern. Now Ethereum could be set for even greater gains in the days and weeks to come.
Ethereum has just confirmed its Golden cross, a common indicator that predicts bullish momentum on the horizon. Bitcoin itself confirmed its Golden cross just weeks before it rallied.
A golden cross appears when a short-term moving average rises above its long-term moving average.
Analysts are now predicting that Ethereum will climb above $300. This will especially be easy if the altcoin can break its current resistance of about $270 whilst enjoying the same record-breaking volume figure it saw last week. Ethereum recorded a new volume high during last weeks rally- around $19 billion.
Ethereum 2.0 To Be More Mature
Ethereum is in addition to having technical boosters expected to be pushed further up with the launch of the Ethereum 2.0. This upgrade is expected to see the network improve in scalability and adopt the proof of stake consensus. This will go along way in keeping up with emerging platforms such as EOS and Tron which have been preferred choices for many DApp developers in recent years.
In regards to building Ethereum 2.0, the Ethereum foundation has recently revealed that it plans to allocate $30 million towards the development of the platform, in it- Plasma and Ethereum 2.0. According to a post by the project, the foundation has been refocusing and taking a more mature stand:
“As the ecosystem has matured, the Ethereum Foundation has refined its focus. ‘Doing what is best for Ethereum’ doesn’t mean trying to do everything — it means focusing on where we can add the most value, and leaving space for others to add value in the areas that they will be the most effective.”
Notably, $3 million of the allocated $30 million has been earmarked for growth and awareness with the aim of attracting more developers to the network.
In the weeks and days to come, it seems that Ethereum might have much to celebrate in development and with it, prices will continue pushing higher. At the time of press, Ethereum is recording a marginal gain of less than 1% and exchanging for $252.
Cryptocurrencies price prediction: Bitcoin, Bitcoin Cash, Ethereum
Bitcoin price analysis: BTC/USD completes first leg up to $10,700
Bitcoin has finally made a gigantic leap out of the range of uncertainty. The battle between the bears and the bulls at $10,200 – $10,435 had reached a stalemate during the weekend sessions. The momentum without a sense of direction while the bears stamped down their control limiting gains above $10,600.
At press time, we see Bitcoin having extended the gains above both the 50 Simple Moving Average (SMA) and the 50 SMA. The break above the hurdle at $10,700 finally completed the leg from $10,200. While the upside has stalled, the buyers are getting ready for the second leg above $11,000 and later $10,200.
Bitcoin Cash failure to break above $360 during the trading sessions last week. This left a gap that the bears wasted no time exploring. BCH/USD bearish action trimmed the gains first below the moving averages. The tentative support around the 38.2% Fib retracement level taken between the last drop from a high of $358.16 to a low of $267.35 close to $300.
The negative volatility surged sending Bitcoin Cash briefly under $270. A low established at $267.35 allowed the rebound above $300. The battle to break the resistance at $330 is yet to be won. Instead, Bitcoin Cash is trading sideways in a narrow range between the confluence created by the 50% Fib level and the 50 Simple Moving Average (SMA) and $330 hurdle.
Ethereum hovers above $200 following a new week’s price action. The weekend session was particularly bullish for ETH. The bulls managed to escape the bear range between $180 and $190. This price action set the ground for the breakout above $200 on Monday.
At the time of writing, Ethereum bulls have control over the price. However, the momentum has stalled $202.43 following a 3.15% rise on the day. The 50 Simple Moving Average one-hour is expanding the gap above the 100 SMA one-hour as a key indicator that the buyers will win the confrontation with a break above $205 (seller congestion zone).
Cardano Price Analysis: ADA Price Has Gained 1.31% in the Last 24 Hours
Cardano has been able to yield a slight growth of 1.31% over the last 24 hours. With four major price variations, Cardano price touched as high as 0.047540 USD in this period. The coin is likely to follow a recovery path soon. By the end of 2019, ADA coin may experience a price rally. Let us discuss the current data of the coin now.
Current Statistics of Cardano
|Cardano (ADA)||17th August 03:18 UTC|
|ROI (Return on Investment)||116.38%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,216,627,881 USD|
|Value in USD||0.046817 USD|
|Value in BTC||0.00000453 BTC|
|24h Volume||44,193,984 USD|
ADA to USD Price Comparison
Today, at the beginning of the day, Cardano price was trading at 0.0473 USD and it started weakening after that. By 05:50 UTC, it was being traded near 0.04447 USD, with a fall of 6.04%. It was, however, followed by a hike of 6.93%, which took the ADA coin to the highest point of the day at 0.047540 USD in just 9 hours and 17 minutes. This growth could not be sustained, and Cardano fell by 2.96% in the next seven and a half hours from 15:08 UTC. The last swing was a marginal recovery of 1.81%, and this took the Cardano price to 0.046964 USD
Cardano Price Prediction
ADA coin’s recent growth hints at the initiation of price recovery by the coin. However, the next couple of weeks may see marginal growth or stagnation. The details of the resistance and support levels are given below:
|Cardano||Resistance & Support Levels|
|1st Resistance||0.047964667 USD|
|2nd Resistance||0.049088333 USD|
|3rd Resistance||0.050640667 USD|
|1st Support Level||0.045288667 USD|
|2nd Support Level||0.043736333 USD|
|3rd Support Level||0.042612667 USD|
Banks like Citi, JP Morgan, Goldman Sachs, BNP, HSBC will come to Bitcoin community for a bail out, claims Max Keiser
Bitcoin’s falling prices for the past few days has alarmed the “recent introduced” masses across the globe, while tempting hodlers who believe “it’s never a bad time to invest in Bitcoin.” One such prominent Bitcoin advocate, Max Keiser, featured in a recent interview with Trade U to discuss the depreciating value of fiat and Bitcoin’s position to fill the void. Hinting at ongoing interest cuts and related market manipulations, Keiser stated,
“If you want to escape money, you only have two choices: One is gold, the other being Bitcoin.”
In this regard, he also highlighted every government’s race to acquire large reserves of gold, which also suggests the depreciating value of traditional currency. Moreover, the investor suggested that Bitcoin market will “stabilize” and eventually “transform from store of value to a medium of exchange.” What may come as a shock to the wider community, Keiser claimed,
“Altcoin market is never coming back. There’s nothing any of these coins can do that Bitcoin can’t do or won’t be able to do shortly.”
Although “no real use case” argument was put up against the altcoin ecosystem, Keiser banks on Bitcoin’s “unstoppable” nature to experience complete dominance during the next financial crash. Envisioning this future, he warned the traditional market and government agencies,
“Those banks like Citi Group, JP Morgan, Goldman Sachs, BNP or HSBC will come to the, Bitcoin community for a bail out. The Bitcoin community will consider it, but of course it would be done on our terms.”
Keiser also highlighted India’s ongoing crypto-ban notion as a “regretful” decision, while contrasting it with New Zealand’s move to allow crypto for tax and payments purposes. Based on the unknown number of Bitcoin reserves held by various nationalities, it is highly speculated that crypto’s mainstream adoption may redefine global power status for every country. As a result, officials have to soon embark a “now or never” situation that will embark a civilization that uses fiat currency as a vintage collection item.