Connect with us

Ethereum

Ethereum Price Analysis: Ether Crypto Shows Stability Above $3600

Published

on

Source: ETH/USDT on TradingView

Daily technical chart and price trend of Ether Crypto is showing an upward trend. Based on the pivot level, the first support zone is 2950 USDT. From another perspective, if it rushes, the resistance level to watch is 3925 USDT. Thus, the graph made a Doji star candle pattern during the day, and the cost is relied upon to remain sideways with unwavering medium force.

The Moving Average Exponential (EMA) Ribbon, comprising of different Ema’s, goes about as solid support in the coin price move. Investors might notice the cost sustains above the green ribbon, so it will guarantee an upswing in Ethereum until the cost dwells above.

Trading volume (228.318 K) is below the 20-day moving average (549.396 K). To put it plainly, the volume is moderate, making the cost struggle at the pivot levels. Investors can likewise check that the volume bars on the graph are slanting, which demonstrates that exceptional instability is typical in the following trading days.

The CCI indicator gave a signal (bullish) with 29, projecting a purchase signal in the currency. Investors can observe an inclined slope from -54 to 29. It can arise in future trading sessions.

Advertisement

Ether Crypto Indicators are Bullish For the Short Term

Ethereum crypto price today is $ 3,626.00 with a 24-hour trading volume of $ 21,937,256,625. The price of ETH has risen 6.3% in the last 24 hours. It has a circulating quantity of 120 million ETH coins and a total quantity of infinite. The CCI points to a buying indication, and the traders have prompted low volume. In fact, the cost is gradually marching towards the resistance regions and proceeds in an upturn. In like manner, with the general market perspective, the pattern stays bullish for coming trading days.

Resistance Level: $3925

Support Level: $2950

Advertisement

News Source

Ethereum

Ethereum and Dogecoin Primed for Breakouts As Crypto Markets Gear Up for Bullish December, According to Analyst Justin Bennett

Published

on

Crypto analyst Justin Bennett says that December could bring rallies to the digital asset markets, with Ethereum (ETH) and Dogecoin (DOGE) potentially at the forefront.

The analyst tells his 91,000 Twitter followers that the dollar index (DXY), which compares the USD to a basket of other fiat currencies, is flashing a bullish signal for the crypto markets.

A weaker DXY often signals higher prices for many assets. Bennett notes that DXY may have just had a failed breakout, and could now be facing downward momentum.

Advertisement

“DXY looks good for a crypto rally heading into December.

Friday’s close back inside this channel indicates weakness. Now for a close below 95.80.

Let’s see.”

Advertisement
Image
Source: Justin Bennett/Twitter

Bennett also has his eye on the chart for the total market cap of crypto (TOTAL). According to him, TOTAL is nearing the end of a large bullish descending wedge. He also notes a divergence between the rising relative strength index (RSI) and the downward price movement. A rising RSI during a downtrend is often interpreted as a hint of a bullish reversal.

“TOTAL falling wedge and bullish divergence developing on the intraday charts.

Something to keep an eye on.”

Image
Source: Justin Bennett/Twitter

Looking at Ethereum, the analyst says that next month looks good for the world’s second-largest crypto. Bennett says ETH is “poised to do well in December,” and could already be jostling for a breakout, as long as it sees more volume.

“ETH approaching a breakout level.

Advertisement

Just add volume.”

Image
Source: Justin Bennett/Twitter

Also joining the rallies, according to Bennett, is leading memecoin Dogecoin (DOGE). He says DOGE is in the middle of a breakout, with its first key resistance at $0.25, and a final resistance level at all-time highs above $0.75.

“DOGE is breaking out.”

Image
Source: Justin Bennett/Twitter

News Source

Advertisement
Continue Reading

Ethereum

Should Ethereum investors really prepare for a ‘$6000’ December

Published

on

Ethereum hasn’t had a great time in November. Dropping by more than 9% at one point, the asset continued to decline over the course of the month.

However, the overall view might not be as bad as it seems on the surface. In fact, Ethereum has registered a 0.5% ROI for the month, which means investors would not have lost much even if they had invested towards the beginning of November.

Now, in this article, we will highlight a couple of factors that might suggest patience being rewarded for ETH investors during the last month of 2021. At press time, Ethereum’s market cap had recovered above $500 billion, having appreciated by 7% on the charts.

Advertisement

Structural survival and setting foundation

Ethereum

Source: Trading View

One of the primary observations seen over the past 30 days is that Ethereum continued to find support between $3800 and $4000. After hitting $4400 in late October, it tested that range again before rising higher on the charts. However, the 2nd half of November led to strong corrections and on 26 November, a significant collapse took place. This range was tested again and now, over the last 30 days, the same price zone has been tested 5 times.

Speculations lead one to believe that Ether may undergo corrections beyond this level after it struggled just above $4000 over the last few days. However, over the last 24 hours, ETH recovered back above $4300.

Now, immediate corrections concerns might have been put to bed and another positive trait can be observed.

Advertisement

Ethereum and its larger plans for December?

Ethereum
Source: Trading View

Ether’s price chart in the short-term might indicate chaos, but the long-term chart seemed to imply dynamic bullishness. This may lead to a strong December. The asset’s movement has formed a Cup and Handle pattern over the past few months. Keeping a base resistance of $4000, the pattern underwent a positive breakout during the beginning of November.

Now, in the grand scheme of things, the last few weeks of correction were a testing phase down to $4000.

Finally, Ether closed above $4000 yesterday on the weekly chart, emphasizing the presence of long-term bulls in the chart. Hence, technically, if the cup and handle pattern sees a positive turnaround, Ethereum should be expecting a 50% chance of testing a new high at $6000-$6200 over the course of December.

Investment greenlight

Source: Sanbase

On the question of identifying on-chain proficiency, ETH’s MVRV ratio suggested a buying opportunity. With the value dropping down to zero, it was a sign that selling pressure has more or less fallen for the altcoin. Historically, this has been a good period to buy based on the MVRV, and the overall market is set up in that direction as well.

News Source

Advertisement
Continue Reading

Bitcoin

Bitcoin, Ethereum and Two Smart Contract Competitors Are the Winners Among Institutional Investors, According to Crypto Asset Manager CoinShares

Published

on

Leading digital asset manager CoinShares says institutional investors have a strong appetite for Bitcoin (BTC) and three leading smart contract platforms.

According to the firm, the overall crypto market correction has left investors hungry for more.

“Digital asset investment products saw inflows of US$306m last week suggesting [a] continued appetite for digital assets.”

Advertisement

As usual, BTC led all digital assets in terms of capital inflows, this time in the wake of a new exchange-traded product (ETP) set to launch on the Deutsche Borse exchange.

“Bitcoin saw the largest inflows in 5 weeks totaling US$247m following the launch of another investment product in Europe. This brings the 11 week run of inflows to US$2.7bn.”

BTC is trading at $58,475 at time of writing, up nearly 6% on the day.

Advertisement

The leading smart contract platform Ethereum (ETH) concluded a strong month of inflows with a week totaling over $23 million.

“Ethereum saw inflows totaling US$23m last week, marking its 5th consecutive week of inflows.”

This week’s big winners in inflows relative to assets under management (AuM) also include the scalable smart contract platform Solana (SOL) and the interoperable blockchain Polkadot, which is designed to support multiple layer-1 smart contract protocols.

Advertisement

“In terms of inflows relative to AuM, Polkadot and Solana continue to be the winners, with inflows representing 8.6% (US$11.5m) and 5.9% (US$14.6m) of AuM respectively last week.”

Image
Source: CoinShares

Ethereum is currently trading at $4,453.79, up 7.5% in the last 24 hours. SOL and DOT are trading at $211.48 and $36.82, respectively, at time of writing.

News Source

Advertisement
Continue Reading