Connect with us

Ethereum

Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon

Published

on

The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.

Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend

Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market

Relative Strength Index: The token continued to be traced across the overbought zone.

Tron [TRX] 1-Day

Source: TradingView

Resistance 1: $0.0308

Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.

MACD: The MACD line over the the reading line and suggested a bullish market for TRX

Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market

Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market

Conclusion

Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.

Source/ambcrypto

Advertisement
Click to comment

Ethereum

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

Published

on

Cryptocurrency Ethereum (ETH/USD) is trading at 270. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

As part of the Ethereum course forecast, a test of level 255 is expected. Where should we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 340. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 235.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below area 220. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019implies a test of the level of 255. Further, growth continues to continue to the area above the level of 340. The conservative area for buying Ethereum is located area of 235. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 220. In this case, we can expect continuation the fall.

News Source

Continue Reading

Ethereum

Ethereum 2.0 migration is similar to a hard fork says, Blockstream’s Samson Mow

Published

on

Ethereum 2.0 project was designed to solve the scalability and consensus problems as Vitalik Buterin , the co-founder of Ethereum said. The much-anticipated rollout features revamp in terms of security, scalability, and decentralization which could not be introduced by means of a hard fork in the existing Ethereum network. According to Samson Mow, the Chief Strategy Officer of Blockstream, “migration of one chain to another, in the case of Ethereum 2.0, is similar to a hard fork”.

In the latest edition of Magical Crypto Friends, hosted by Whale Panda, a prominent figure in the crypto space, took a jibe at the network and stated that Ethereum is basically “dumping Ethereum 1 for Ethereum 2” which would require jumping from one chain to another and “starting from scratch”, and subsequently crop up issues of “potential bugs” on the network.

Responding to which, Mow said,

“You have to expect that everyone is going to give up their old Ethereum or you find a way to migrate it to the new chain. [..] you’re still expecting everyone’s going to migrate right if people don’t migrate then technically you would have the legacy chain alive “

Mow went on draw parallels to the upcoming Ethereum 2.0’s Beacon chain. According to the CSO of the Bitcoin startup firm, the Beacon chain, which is the central blockchain that is responsible for coordinating other Ethereum blockchains, is “similar to Bitcoin main chain”. He further compared the Ethereum’s “shards” to that of Bitcoin’s “side chains”. Following the comparison, Riccardo Spagni, aka Fluffy Pony ridiculed,

“so maybe the dream is to take existing stuff that someone invaded for Bitcoin, rename it, and then that’s how you make it real” Mow, who is a Bitcoin bull, had earlier singled out Ethereum and said that the blockchain has “no future”.

Source :ambcrypto

Continue Reading

Ethereum

Ethereum (ETH/USD) forecast and analysis on June 16, 2019

Published

on

Cryptocurrency Ethereum (ETH/USD) is trading at 264. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019

As part of the Ethereum course forecast, a test of level 258 is expected. Where should we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 282. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator bands at the level of 248.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below area 235. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019 implies a test level of 258. Further growth is expected to continue to the area above the level of 282. The conservative area for buying Ethereum is located area of 248. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 235. In this case, we should expect a further fall.

News Source

Continue Reading
Advertisement
Advertisement