Ethereum Price & Technical Analysis: ETH Still Being Weak

CoinSpeaker

Ethereum Price & Technical Analysis: ETH Still Being Weak

Ethereum is trying to recover after a selloff on Thu, Dec 6, trading at around $104.02, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Ethereum Price & Technical Analysis: ETH Still Being Weak

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Source: CoinSpeaker

Ethereum Price & Technical Analysis: No Positive News for ETH

CoinSpeaker

Ethereum Price & Technical Analysis: No Positive News for ETH

Ether is slightly moving down on Thu Nov 29, trading at $122.20, reports Dmitriy Gurkovsky, Chief Analyst at RoboForex.

Ethereum Price & Technical Analysis: No Positive News for ETH

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Source: CoinSpeaker

Eth Price Facing Strong Resistance while Swiss Federal Railway Trials First Digital Identity Pilot on Ethereum

Currently trading at about $208, Ethereum price is not seeing any action while facing stiff resistance at $210. Meanwhile, Swiss Federal railway trials the first digital identity pilot on Ethereum while Co-founder Joe Lubin says, “Ethereum is far in the lead as a viable candidate for web 3.0.”
Ethereum Prices Flat
At the time of writing, World’s second largest cryptocurrency is trading at $208.93 while in the red by 1.15 percent. The $21.5 billion market cap cryptocurrency is not showing any signs of a trend currently. The price is all flat with no sign of investors looking to sell at the current rate and without any trend, no money is getting in.
Source: Coinmarketcap.com
Ethereum is facing strong resistance at around $210 and in order to break above ETH/USD has to jump this resistance. In case the prices take a downward shift, the decline can accelerate.
First Digital Identity Pilot on public Ethereum testnet Rinkeby
Keeping the price aside, Ethereum is making headway when it comes to its use. According to the latest blog shared by Linium Labs, a Swiss-based company that aims to build decentralized systems towards a healthier society, with a focus on health and identity, the Swiss Federal Railway SBB is exploring how to implement its first blockchain use cases, specifically around certifications for its employees that work on railway tracks.
As for why Blockchain, it shares “Having multiple parties making entries on a record needed for public safety, ultimately linked to an individual’s identity, made this an ideal fit for a decentralised identity pilot. This would enable simple interoperability between all of the different actors.”
Moreover, “With the success of the identity trials in Zug, Switzerland, there was project confidence to test this on the public Ethereum testnet Rinkeby.”
This pilot could serve as a model use case for issuing and verifying the organizational credentials and be a part of Swiss ID and digital identity discussion.
Ethereum co-founder, ETH viable candidate for web 3.0
Recently, Ethereum and ConsenSys co-founder Joe Lubin spoke at the New York Times International Luxury Conference in Hong Kong. He believes blockchain and decentralization can spur innovation in the economy,
“We are going to to be more in control of our identity and our agency on these different decentralized networks and I think that’s going to create more wealth […] more interest in expressing ourselves, and I think there will be more appetite for luxury than less.”
Just last week at Web Summit in Lisbon, he shared,   
“Ethereum is far in the lead as a viable candidate for web 3.0 largely because of its interoperable and radically decentralized nature. It may be a few years before our ecosystem achieves profound interoperability and decentralization in the base and higher layers. But that is okay. We can grow into the radical future we imagine as we take care of adoption, use case exploration, user interface, and user experience definition – all of which will keep us busy for years.”
 
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Source: CoinGape

Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

CoinSpeaker

Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

Should the bulls gain enough momentum and break up the supply level of $227, Ethereum price will rally to the north and may have the supply level of $257 as its target.

Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

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Source: CoinSpeaker

Ethereum Price Analysis: ETH/USD Breaks Above $200 Once Again Upon Market Rally

Ethereum has seen a small price decline totaling -0.45% over the past 24 hours of trading. The cryptocurrency is currently trading hands at a price around $209.08 after seeing a 7-day price hike totaling +5.55%.
Key Highlights:

Ethereum has recently cracked up above the $200 once again.
The market met resistance at the .5 Fibonacci Retracement level priced at $212.80.
Support moving forward; $202, $200, $197, $194, $188, $184, $180, $171.
Resistance moving forward; $212, $222, $225, $229, $234, $245, $253, $266.

Ethereum is still ranked in 2nd position in terms of overall market cap across the entire industry. It currently holds a total market cap value of $21.41 billion after suffered get a rough 90 day trading period where price action dropped a steep -45%.
The 39-month-old coin is now trading at a value that is 85% lower than the ATH price.
Let us continue to analyze price action over the short term and highlight any potential areas of support and resistance moving forward.
Ethereum Price Analysis
ETH/USD – SHORT TERM – DAILY CHART
Ethereum Price Analysis Chart source by TradingView
Analyzing price action over the short term, we can see that Ethereum has recently spiked back up above $200 after suffering a long few days trading below the $200 mark. We can see that the market is still trapped within the range of the previous swing which saw price action start at a low of $167 and rise to a high of $255 during September 2018.
We can see that the recent price hike saw Ethereum meet resistance at the .5 Fibonacci Retracement level priced at $212.80. As the market reached this area the buyers ran out of steam causing price action to retrace slightly.
Moving forward, in our bullish scenario, if the buyers can push price action above the resistance at $212.80 we can expect immediate higher resistance to be located at the .382 Fibonacci Retracement level priced at $222.78. Higher resistance above this can then be expected at the short term 1.414 and 1.618 Fibonacci Extension levels (Drawn in purple) priced at $229 and $234 respectively.
If the bulls can press up further higher then more resistance above can be expected at the previous long-term 1.272 and 1.414 Fibonacci Extension levels (drawn in green) priced at $245 and $253 respectively. The last level of resistance above to highlight is at the long-term 1.618 Fibonacci Extension level (drawn in green) priced at $266.
Alternatively on the bearish side of the equation, if the sellers push the market further lower we can expect immediate support beneath to be located at the .618 Fibonacci Retracement level priced at $202 followed by the short-term downside 1.272 and 1.414 Fibonacci Extension levels (drawn in green) priced at $197 and $194 respectively.
If the sellers continue to drive price action even further lower we can expect more support beneath to be located at the .786 and .886 Fibonacci Retracement levels priced at $188 and $180 respectively.
The last level of significant support below to highlight is the downside 1.618 Fibonacci Extension level (drawn in dark blue) priced at $171.34.
The RSI is showing favor to the bulls at this moment in time as it trades marginally above the 50 handle. If it can remain above the 50 handle we can expect this market to continue to rise higher.
The post Ethereum Price Analysis: ETH/USD Breaks Above $200 Once Again Upon Market Rally appeared first on Coingape.
Source: CoinGape

Ethereum Price Analysis: ETH Breaks Back Above $200 as BTC/USD Breaks Above Significant Resistance

Ethereum has seen a 5.18% price increase over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price of $210 after suffering a -7.66% price decline over the past 7 trading days. Ethereum was trading underneath the $200 until we saw the major bullish run this morning within BTC/USD pushing price action above $7000.
Key Highlights:

Ethereum broke below our previously highlighted symmetrical triangle this week
Support was found at the .786 Fib level below $200 before the market rebounded.
The recent bullish momentum in BTC/USD has propelled the majority of altcoins higher today.
Support levels moving forward; $212, $202, $200, $188, $184, $180, $171.
Resistance levels moving forward; $222, $228, $245, $253, $266, $276, $288.

Ethereum is still holding its number 2 ranked position in terms of overall market cap across the entire industry. The 38-month-old coin has a total market cap value of $21.6 billion after suffering a -57% price drop over the past 90 trading days. Ethereum is still currently trading at a value that is 84% lower than its all-time high price.
Let us continue to analyse price action over the short term to highlight any potential support and resistance zones.
Ethereum Price Analysis
ETH/USD – SHORT TERM – DAILY CHART
Chart Source By TradingView
Analyzing the market from the short term perspective above, we can see that since our last article, price action had broken below the confines of the symmetrical triangle that had been forming for over 4 weeks.
As the market dropped below the lower boundary of the triangle, it continued to drop below $200 until support was found at our expected level provided by the short-term .786 Fibonacci Retracement level priced at $188.61. AS the market approached this area, the bulls began to take control of the momentum within the market and caused the price decline to reverse.
We can see that the recent bullish momentum saw today price action has shot back above the $200 handle and continued even higher until rolling over around $244. The market is now trading around $218 as speculators wait patiently on the next market movement.
If the bears re-enter the market and pressure price action lower we can expect immediate significant support below to be located at the .5 and .618 short term Fibonacci Retracement levels priced at $212 and $202. If the bears can penetrate below these two support levels, then more support can be expected at the .786 Fibonacci Retracement level priced at $188 followed by the .886 Fibonacci Retracement level priced at $180.
Alternatively, if the BTC/USD markets continue to rise and the Ethereum bulls can continue with their recently established bullish pressure we can expect immediate resistance above to be provided  by the .382 Fibonacci Retracement level priced at $222 followed by the short-term 1.272 and 1.414 Fibonacci Extension level (drawn in green) priced at $245 and $253.
If the bulls can continue even further higher, we can expect more resistance at the shorter-termed 1.414 and 1.618 Fibonacci Extension levels (drawn in blue) priced at $276 and $288.
The RSI technical indicator is trading at oversold conditions on the 4HR time frame. This indicates that the bulls are coming to the end of their momentum and need a break before they can continue higher. If the RSI can continue to remain above the 50 handles we can assume that the bulls are still in control of the market and that Ethereum will continue to trade higher.
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Source: CoinGape

Ethereum Price Analysis: Ethereum Approaching the Apex of an Ascending Wedge as Bulls Prepare For A Break Higher

Ethereum has seen a small +0.71% price increase over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price of $224.66 after experiencing a small price decline totaling 2.85% over the past 7 rolling trading days.
Key Highlights:

Ethereum continues to trade in a period of consolidation as the market moves sideways.
It is currently trading at support provided by the .382 Fibonacci Retracement priced at $222
Support moving forward; $212, $202, $200, $188, $180.
Resistance moving forward; $288, $245, $253, $268, $276, $288, $300.

The ETH/USD market has been trading sideways as the market approaches the apex of the ascending triangle. Typically a market will breakout closer toward the apex with a great surge of volume that the majority of Ethereum holders have been longing for.
Ethereum continues to retain its 2nd ranked position in terms of overall market cap across the entire industry. It has a total market cap ranking of $23.01 billion after the 62-month-old cryptocurrency suffers a 52% price drop over the past 90 trading days. Ethereum is still trading at a price that is 86% lower than its all-time high value.
Let us continue to analyse price action over the short term and highlight any potential support and resistance areas.
Ethereum Price Analysis
ETH/USD – SHORT TERM – DAILY CHART
Chart Source by TradingView
Analysing the market from the short term perspective above, we can see that Ethereum has continued to trade sideways in its consolidation phase. It is currently trading at support provided by the .382 Fibonacci Retracement level priced at $222.78.
Over the past 2 weeks, we can see that the market has begun to form an ascending wedge formation and price action is quickly approaching the apex of the consolidation pattern. A break out toward the upside could be the initial domino to fall which sees Ethereum rise back above $300 once again.
In the event that price action does break toward the upside, we would see immediate significant resistance at the medium term 1.414 Fibonacci Extension level (drawn in green) priced at $253.69. IF the bullish momentum can continue even higher we can expect further support at the shorter-termed 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $268.13 and $276.59.
Alternatively, if the bears push price action below the triangle we can expect immediate significant support below at the short term .618 Fibonacci Retracement level priced at $202.82. If the bears push the market even further below $200 then more support can be expected at the .786 and the .886 Fibonacci Retracement levels priced at $188 and $180, respectively.
For a significant bullish run higher we will be closely watching the RSI indicator on the daily time frame where we will be expecting the RSI making its way toward oversold conditions near the 70 handle. So long as the RSI can remain above 50, this should indicate that the bulls are in control of the momentum within the market.
The post Ethereum Price Analysis: Ethereum Approaching the Apex of an Ascending Wedge as Bulls Prepare For A Break Higher appeared first on Coingape.
Source: CoinGape

Ethereum Co-Founder: Blockchain Growth Based on Marketing is Hitting a Dead End

Ethereum co-founder Vitalik Buterin is of the opinion that the cryptocurrency market is unlikely to experience an explosive bullish rally similar to the one seen in late 2017 ever again. The ‘gold rush’ is in the past and now the average person is aware of blockchain and digital currencies, thus erasing the surprise element of last year.
Cryptocurrency Growth Based on Marketing is a Dead End Strategy
Vitalik Buterin, co-founder of Ethereum, was at an Ethereum and blockchain conference in Hong Kong when he told Bloomberg that opportunities for 1,000-times growth in the cryptocurrency market are no longer out there.
The blockchain community is at a new level of growth, which is based on the adoption of real applications by real people instead of spreading the word to new enthusiasts willing to invest in digital assets.
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore”, Buterin said as he explained that the blockchain community’s marketing strategy throughout the first six or seven years “is getting close to hitting a dead end.”
Now it is up to the blockchain ecosystem to strive to get people who are already interested in cryptocurrencies to be involved as consumers of blockchain products in real life. “Go from just people being interested in real applications of real economic activity”, he said.
Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system which enables developers to create all kinds of applications without a middleman or counterparty risk. The “next stage” Buterin talked about in the interview may eventually represent a bullish case for ETH if developers ‘en masse’ do decide to go with Ethereum to build their platforms. But the once innovative network is now facing increased competition.
While the real massified adoption of blockchain products is yet to occur, the price of Ethereum faces a bearish storm ever since capping around the $1,375 area in early 2018. In September, the cryptocurrency gave in to the downward pressure and lost the $300 handle. Ethereum is now trading just above $200 in a critical moment for the digital currency market.
“ETH shed another 4% on the day and is just below $220, a fall below $200 could be very bad for the world’s second largest crypto”, reports NewBTC. Bloomberg Intelligence commodity strategist Mike McGlone expects Ether to fall further to a support target of $155 “as it faces increasing competition, market volatility, and a maturing industry.”
Featured image from Shutterstock.
The post Ethereum Co-Founder: Blockchain Growth Based on Marketing is Hitting a Dead End appeared first on NewsBTC.
Source: New feedNewsBTC.com