Connect with us

Ethereum

Ethereum price analysis: ETH/USD pares losses, moves below SMA100 daily

Published

on

ethereum
  • Ethereum price retreated from the recent high, settled below SMA100 daily
  • The next support awaits ETH bears on approach to $180.00.

ETH/USD topped at $194.80 on November 6 and retreated to $185.98 by the time of writing. The second-largest digital asset with the current market value of $20.3 billion has lost 1.3% of its value on a day-to-day basis, following the global trends on the cryptocurrency market. While the attempts to recover above $190.00 proved to be futile, from the longer point of view, ETH/USD is moving inside a broad range.

Ethereum’s technical picture

On the daily charts, the initial support is created by SMA50 (Simple Moving Average) daily at $181.50 followed by the middle line of the Bollinger Band. Once it is out of the way, a strong psychological barrier of $180.00 will come into focus. This area has been limiting the decline since the beginning of November. If it is broken, the sell-off may be extended towards $164.85 ( the lower line of the daily Bollinger Band). The ultimate support is created by the lower line of a broad range at $160.00. Since the end of September, the coin made several attempts to break it, but bumped into strong buying interest.

  • Ethereum price retreated from the recent high, settled below SMA100 daily
  • The next support awaits ETH bears on approach to $180.00.

ETH/USD topped at $194.80 on November 6 and retreated to $185.98 by the time of writing. The second-largest digital asset with the current market value of $20.3 billion has lost 1.3% of its value on a day-to-day basis, following the global trends on the cryptocurrency market. While the attempts to recover above $190.00 proved to be futile, from the longer point of view, ETH/USD is moving inside a broad range.

Ethereum’s technical picture

On the daily charts, the initial support is created by SMA50 (Simple Moving Average) daily at $181.50 followed by the middle line of the Bollinger Band. Once it is out of the way, a strong psychological barrier of $180.00 will come into focus. This area has been limiting the decline since the beginning of November. If it is broken, the sell-off may be extended towards $164.85 ( the lower line of the daily Bollinger Band). The ultimate support is created by the lower line of a broad range at $160.00. Since the end of September, the coin made several attempts to break it, but bumped into strong buying interest.

source:.fxstreet

Click to comment

Ethereum

Building a Future on Ethereum at Canadian Hackathon

Published

on

A hackathon may sound like something conducted in a disused warehouse by a bunch of computer nerds trying to break into government websites. In reality it is the complete opposite; a gathering of whitehats and industry professionals sharing knowledge and innovating on current networks. A weekend Ethereum hackathon in Toronto, Canada produced some interesting developments as the ETH community continues to grow.

Ethereum Innovation Continues

Ethereum has no shortage of detractors and it gets more than its fair share of FUD. But the bottom line is that there are more developers working on the Ethereum network than any rival blockchain project and this has made it the global standard platform for dApps and smart contracts.

The leading minds in the cryptocurrency space joined over white hat 500 hackers from around the world over the weekend to collaborate on Ethereum based dApps. The Toronto based ETHWaterloo event is organized by the core ETHGlobal team and has been running since 2017.

Prizes were awarded for innovation and 65 projects were submitted over the weekend which brought total hackathon projects to more than 1,000. The most famous dApp ever to emerge from the hackathon was ‘CryptoKitties’ which overwhelmed the network in late 2017.

A recent post by Camila Russo’s ‘The Defiant’ has taken a deeper look into some of the developments and cool things that were built on Ethereum at the event. Previous collaborations have focused on DeFi which is seeing monumental growth this year however this event’s attention was geared towards smart wallets, messaging and gaming.

There were five winners at the event and the first was a concept which turned Google Sheets into an Ethereum wallet. Dubbed ‘Sheetcoin’ (which could have other connotations), the platform allows users to send ERC-20 tokens to a Gmail account. Essentially a Google Sheets sidechain has been strapped on to Ethereum making it ridiculously easy to use.

Another project used Ethereum to prevent spam voice calls, SIM swapping and telecoms providers selling personal data. Eth P2P VOIP uses a token based system that enables users to allow or block calls by placing a price on them that the caller has to pay if not on a whitelist.

A DeFi custody wallet was also developed which, using Metamask, can interact with any dApp. This one if developed further could help simplify DeFi and accelerate its adoption.

Another MetaMask based dApp called Connexion allows users to instant message using their ENS names (Ethereum based domain names). Messages can be sent and received directly on the blockchain without needing third party apps that eat your data such as Facebook Messenger, Microsoft Skype or Apple’s Facetime.

A similar system for notifications was also showcased. Wallet Notify sends push notifications to Ethereum addresses for things such as smart contract expiry, loan liquidations, governance votes etc.

As the Ethereum community grows, more of these hackathons will be scheduled. ETHGlobal already has plans for an online DeFi event early next year.

Ethereum is shaping up to be the future of finance. Watch this space!

Source:newsbtc

Continue Reading

Ethereum

Ethereum (ETH) Stuck In Range While Bitcoin Is Sliding

Published

on

  • Ethereum price failed to continue above $190 and declined below $188 against the US Dollar.
  • The price is currently correcting higher, but it is likely to face resistance near $187-$188.
  • There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is trading with a bearish angle below the $8,950 and $9,000 resistance levels.

Ethereum price is trading in a broad range versus the US Dollar, while bitcoin is struggling. ETH price might revisit the $182 range support area in the near term.

Ethereum Price Analysis

Yesterday, there was a decent increase in Ethereum above the $188 resistance against the US Dollar. ETH even surpassed the $190 resistance area and the 100 hourly simple moving average.

However, the price struggled to gain strength above $190 and formed a high near the $192 level. Later, there was a downward move below the $188 support area and the 100 hourly simple moving average.

Moreover, the price traded below the 50% Fib retracement level of the upward move from the $180 swing low to $192 high. The bulls even failed to defend the $185 support and the price tested the $183 area.

Ethereum is currently correcting higher and trading near the $186 level. Additionally, it is trading near the 23.6% Fib retracement level of the recent decline from the $192 high to $184 swing low.

On the upside, an immediate resistance is near the $187 level. More importantly, there is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD, coinciding with the 100 hourly SMA.

If there is an upside break above the trend line and the 100 hourly SMA, the price could test the $188 resistance area. Any further gains may perhaps push the price towards the $192 swing high in the near term.

Conversely, the price could decline further if it fails to clear the $188 resistance. An immediate support is near the $184 level. The main supports are near the $182 and $180 levels, below which the bears are likely to gain strength.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price seems to be trading in a broad range between $180 and $190. A successful close on the either side could trigger the next move. As long as there is no daily close below $180, there are chances of a fresh increase towards $200 and $205.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently rising and it is likely to clear the 50 level.

Major Support Level – $182

Major Resistance Level – $188

Source:newsbtc

Continue Reading

Ethereum

Ethereum (ETH) Stuck In Range While Bitcoin Is Sliding

Published

on

  • Ethereum price failed to continue above $190 and declined below $188 against the US Dollar.
  • The price is currently correcting higher, but it is likely to face resistance near $187-$188.
  • There is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is trading with a bearish angle below the $8,950 and $9,000 resistance levels.

Ethereum price is trading in a broad range versus the US Dollar, while bitcoin is struggling. ETH price might revisit the $182 range support area in the near term.

Ethereum Price Analysis

Yesterday, there was a decent increase in Ethereum above the $188 resistance against the US Dollar. ETH even surpassed the $190 resistance area and the 100 hourly simple moving average.

However, the price struggled to gain strength above $190 and formed a high near the $192 level. Later, there was a downward move below the $188 support area and the 100 hourly simple moving average.

Moreover, the price traded below the 50% Fib retracement level of the upward move from the $180 swing low to $192 high. The bulls even failed to defend the $185 support and the price tested the $183 area.

Ethereum is currently correcting higher and trading near the $186 level. Additionally, it is trading near the 23.6% Fib retracement level of the recent decline from the $192 high to $184 swing low.

On the upside, an immediate resistance is near the $187 level. More importantly, there is a connecting bearish trend line forming with resistance near $187 on the hourly chart of ETH/USD, coinciding with the 100 hourly SMA.

If there is an upside break above the trend line and the 100 hourly SMA, the price could test the $188 resistance area. Any further gains may perhaps push the price towards the $192 swing high in the near term.

Conversely, the price could decline further if it fails to clear the $188 resistance. An immediate support is near the $184 level. The main supports are near the $182 and $180 levels, below which the bears are likely to gain strength.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price seems to be trading in a broad range between $180 and $190. A successful close on the either side could trigger the next move. As long as there is no daily close below $180, there are chances of a fresh increase towards $200 and $205.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently rising and it is likely to clear the 50 level.

Major Support Level – $182

Major Resistance Level – $188

News Source

Continue Reading
Open

Close