Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Source: CoinSpeaker

Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120

ETH price tested the $119-120 resistance area and failed to gain strength against the US Dollar.
There is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently at a risk of more losses as long as it is trading below the $118 and $120 hurdles.

Ethereum price failed to stay in the positive zone against the US Dollar and bitcoin. ETH/USD trimmed most its gains and it is likely heading towards the $114 support level.
Ethereum Price Analysis
Yesterday, we saw a nice upward move above the $114 and $115 resistances in ETH price against the US Dollar. The ETH/USD pair even spiked above the $118 resistance and the 100 hourly simple moving average. However, it failed to break the $120 resistance area. There was also no close above the 61.8% Fib retracement level of the last downside move from the $125 high to $111 swing low. The price started a fresh decline and traded below the $118 level and the 100 hourly SMA.
Moreover, there was a break below the 50% Fib retracement level of the recent wave from the $111 low to $120 swing high. At the outset, there is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD. The channel support is at $114, where buyers are likely to emerge. Above $114, the 61.8% Fib retracement level of the recent wave from the $111 low to $120 swing high is a decent support. Below $114, the price could dip towards the $112 and $111 levels.

Looking at the chart, ETH price is facing a major resistance near the channel, $118, and the 100 hourly simple moving average. A successful break and close above $120 is needed for more gains towards $124 and $127. If buyers fail, the price may continue to move down towards $112.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently placed in the bearish zone, with negative signs.
Hourly RSI – The RSI for ETH/USD is moving lower towards the 35 and 30 levels.
Major Support Level – $114
Major Resistance Level – $118
The post Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120 appeared first on NewsBTC.
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$16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack

The year started with a bang as one of the leading exchanges reported a case of cryptocurrency heist that occurred on their platform. The exchange in the spotlight here is Cryptopia, a New Zealand cryptocurrency exchange. The platform released an official statement on January 15, 2019, stating that they faced a security breach, which resulted in a significant loss.
The platform, however, has still not disclosed details pertaining to tokens that were stolen from the platform and the worth of the tokens. To add on, the announcement stated that the exchange will be under maintenance until the case of the stolen tokens has come to a conclusion. It is currently being taken care of by the New Zealand police officers and the required regulatory authorities have been informed about the incident.
Now, a research by Elementus, a next-generation blockchain analysis company, outlines the timeframe of the heist and total tokens that were lost. The report stated that the funds were moved from the platform’s two hot wallets, one had Ethereum [ETH] and the other had ERC20 tokens, on January 13, 2019, 1:28 PM GMT.

This was followed by the disclosure of the cryptocurrencies that were stolen. The report stated that Ethereum and ERC20 tokens were worth about a whopping $16 million. It further states that this number was taking into consideration only information found on the Ethereum blockchain.
“The funds were taken from more than 76k different wallets, none of which were smart contracts. The thieves must have gained access to not one private key, but thousands of them […] It seems Cryptopia not only lost their funds, they also lost access to all, or nearly all, of their 76k+ Ethereum wallets.”
The largest amount of cryptocurrencies that were stolen was Ethereum, Dentacoin, Oyster Pearl, Lisk ML, Centrality, Mothership, Ormeus, DAPS, Zap, and Pillar.

Additionally, according to the report, the cryptocurrencies were spread across fourteen exchange platforms. The largest amount of cryptocurrencies were sent to Bibox, an AI-enhanced, encrypted cryptocurrency exchange platform. The second in line was Binance, the largest cryptocurrency exchange in terms of trade volume, and the third on the line is noted to be Houbi. The report suggests that the hackers have transferred over $882,632 out of the $16 million and that the majority of the tokens are still held in two different wallets.

The two wallets that have the stolen funds are identified to be 0x9007A0421145B06a0345d55a8C0f0327f62A2224 and 0xaA923Cd02364Bb8A4c3d6F894178d2e12231655C. These wallets have an approx. of $13 million worth of cryptocurrencies. Moreover, the report concludes that there are still over 1948 Ethereum wallets and about $46k in Ethereum remain at risk.
The post $16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX] did a Great Job of Building Community and Attracting Developers: Bitcoin Foundation Chairman

Brock Pierce, Bitcoin Foundation’s Chairman and co-founder of the EOS Alliance praises Tron for its efforts that are “required for a blockchain to be successful,” while Tron achieved big numbers in terms of increased transactions, accounts, and Dapps.
Tron Surpasses 200 Million in 38 Days after the First 100M
Recently, Tron had its niTROn Summit 2019 where they made a lot of promises and claims to its community. Marcu Zhao, the head of the Tron public chain declared that Tron, “will listen to the community to achieve the decentralization of developing team and attract more developers to join us.”
In the meantime, Tron made a lot of development as Tron enthusiast Misha Leaderman took to Twitter to share,
“TRON has reached 6,000,000 Block Height. Two days after the hugely successful niTROn Summit, TRX has: surpassed 1,5 million accounts, 163 DApps at dapp review, outperformed all other top 10 coins, announced BitTorrent BTT Airdrop plan, and announced BitTorrent speed.”

Blockchain and Fintech Analyst, Gordon also shared another milestone that Tron achieved in terms of 200 million transactions.
“TRON just surpassed 200 Million Transactions. The first 100M took 173 days. The second 100M took just 38 days! That is 455.26% faster than the first 100M. Absolutely incredible! Congratulations to Justin Sun and the entire TRON Community.”
Ethereum’s Scalability Issues & Tron’s “Great Job”
While Tron is making a lot of noise in the crypto space, Brock Pierce, the current Chairman of the Bitcoin Foundation and co-founder of the EOS Alliance responded to “Thoughts on #TRON as a contender” with,
“Tron has done a great job of building community and attracting developers. Those are two of the most important attributes required for a blockchain to be successful.”
Peirce’s praise of Tron’s marketing efforts came after talked about Ethereum’s scalability issues in a recent chat with CryptoTrader Ran NeuNer,
“If Ethereum does not solve the scaling this year then there will be a problem. The market is not going to wait for them to catch up, especially with all the generation 3 blockchains coming up. EOS is currently the number two chain in terms of developers with a lot of runway. It also helps in having the most advancement form of solving scalability issues.”
Pierce also spoke about the fall of Mt. Gox and the effect it has now on the market, “The fall of Mt.Gox incurred massive reputation damage and the feeling that it propagated throughout the industry was crazy. People thought that since Mt.Gox got hacked, Bitcoin must be unsafe too. We need to create safer and better practices in the field.”
Just like the majority of the crypto experts, Pierce believes this year is going to be about Buidl and though he stated that he “rarely make predictions,” he shares by the end of this year, “we will see apps built on the blockchain that will have a million users.”
The post Tron [TRX] did a Great Job of Building Community and Attracting Developers: Bitcoin Foundation Chairman appeared first on Coingape.
Source: CoinGape

Bitcoin (BTC) Climbs Slightly as Crypto Markets Experience Mixed Trading Session

The past several days have been particularly volatile for the cryptocurrency markets, with Bitcoin (BTC) surging to highs of nearly $3,750 on Saturday before fully retracing to lows of $3,550. Despite this volatility, Bitcoin has been able to hold $3,550 as a level of support and has led the entire crypto markets to rise slightly today.
Analysts are now saying that the market’s ability to hold above its recently established support levels may lead to further gains in the near future.
Bitcoin (BTC) and Crypto Markets Hold Steady
The recent volatility the crypto markets have experienced put their recently established support levels in jeopardy, but they have been able to stabilize above these key levels.
At the time of writing, Bitcoin is trading up less than 1% at its current price of $3,600. Over the past few weeks, BTC has bounced each time it entered the $3,500 region, signaling that buying pressure exists at this price level.
Similar buying pressure has been seen for most major altcoins, which have all established certain levels at which they see strong support.
Trading Room, a popular cryptocurrency analyst group on Twitter, discussed these support levels earlier today, noting that Bitcoin, Litecoin, and Ethereum could all see a bounce if they are able to continue holding steady above their respective levels of support.
“$BTC $ETH & $LTC are holding Key Support Area… Next Target 100 & 200 MAs on Topside (Moving Downwards)… Check #Bitcoin #Ethereum #Litecoin Targets if we get that bounce… I am not gonna speculate on topside breakout or downside breakdown. Will react based on Breakout/Breakdown,” they explained.
Furthermore, Trading Room said in a later tweet that they will only enter new long positions for the aforementioned cryptocurrencies if they are able to break above key price levels by the end of the day.
“All key levels holding across $BTC $ETH $LTC… Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above: 3675 #Bitcoin… 123.50 #Ethereum… 32.15 #Litecoin… Trend is your friend, allow it to develop,” Trading Room said.

All key levels holding across $BTC $ETH $LTC
Price tried to break below key support but violently rejected so far. However will re-enter Longs only after we get a daily candle close above
3675 #Bitcoin123.50 #Ethereum32.15 #Litecoin
Trend is your friend, allow it to develop https://t.co/xpT00k5CMx
— Trading Room (@tradingroomapp) January 22, 2019

Altcoins Rise Slightly
Most major cryptocurrencies have risen slightly in price today.
Most major altcoins are trading up marginally today.
At the time of writing, Ethereum is trading up over 1% at its current price of $119.1. Ethereum has climbed slightly from its recent lows of $115 that were set earlier today but is down from its weekly highs of nearly $126.
XRP is trading flat today at its current price of $0.3198. Earlier today, XRP dropped to lows of $0.314 before quickly bouncing back to its current price levels.
Bitcoin Cash is one of today’s best performing altcoins, as it is currently trading up just under 6% at $130. Bitcoin Cash clearly has strong buying support at $118, as this was the price at which it surged after touching it earlier this morning.
Featured images from Shutterstock.
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Ethereum [ETH/USD] Technical Analysis: Coin has found a new resting place

Ethereum [ETH], the third-largest cryptocurrency by market cap, continues to stay beside the bear. It is not the only cryptocurrency that is preferring the bear over the bull. Other coins such as Litecoin [LTC], Monero [XMR] and Bitcoin [BTC] are also pictured hanging out with the winter animal.
According to CoinMarketCap, at press time, Ethereum was trading at $117.30 with a market cap of $12.25 billion. The currency has a trading volume of $2.29 billion and has plunged by over 8% in the past seven days.
1-hour
Ethereum one-hour chart | Source: Trading View
In the one-hour chart, the coin demonstrates a downtrend from $129.38 to $124.65 and $122.85 to $116.30. The uptrend is outlined from $114.35 to $115.03. The resistance levels are set at $117.81 and $124.93 for the coin. Whereas, the support levels can be spotted at $114.95 and $114.30
Chaikin Money Flow, irrespective of the coin’s choice, is forecasting a green day as the line is able the zero-mark, showing that the money is flowing into the market.
Bollinger Bands is forecasting a less volatile market as the bands are seen close to each other.
Parabolic SAR is abiding by the coin’s decision and is seen forecasting a bearish market as the dots have aligned above the candlesticks.
1-day
Ethereum one-day chart | Source: Trading View
The one-day chart shows a downtrend from $499.01 to $155.91 and from $149.9 to $123.20. The uptrend for the coin is pictured from $117.43 to $83.74. The immediate resistance is laid out at $128.51 and the strong resistance is at $156. The support grounds for the currency is at $114.43 and $82.82.
RSI is showing that the buying pressure is currently evened out with the selling pressure.
MACD is forecasting a bearish side for the coin as the moving average line is below the signal line after the two met for a short duration.
Klinger Oscillator, is on the same page, as the reading line has placed itself below the signal line after a crossover.
Conclusion
The coin likes its refugee in the bear’s market as it is indicating a longer stay. The indicators that are in complete agreement with the coin’s decision are Parabolic SAR from the one-hour chart, MACD and Klinger Oscillator from the one-day chart.
The post Ethereum [ETH/USD] Technical Analysis: Coin has found a new resting place appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

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Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Ripple recently partnered with the Institute for Fintech Research, Tsinghua University to offer scholarships. They aim to sensitize the Chinese young leaders about blockchain’s international regulations.

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

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Source: CoinSpeaker

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users

CoinSpeaker

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users

In this exclusive interview, TRON founder Justin Sun explains what value the project proposes to its users, unveils how it stands out from other initiatives and shares TRON’s future plans.

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users

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Source: CoinSpeaker

Ethereum Price Analysis: ETH/USD Trends of January 22–28, 2019

CoinSpeaker

Ethereum Price Analysis: ETH/USD Trends of January 22–28, 2019

Ethereum price may have its target at the previous low of $87 in case the demand level of $109 does not hold. Should the demand level of $109 hold, the ETH price will bounce and rally towards $145 price level.

Ethereum Price Analysis: ETH/USD Trends of January 22–28, 2019

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Source: CoinSpeaker

Ethereum Price Analysis: ETH Consolidating Below Crucial Barriers

ETH price declined recently below $120 and tested the key $112 support area against the US Dollar.
Yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating below the $118 and $120 resistance, with a few positive moves.

Ethereum price is placed in a bearish zone against the US Dollar and bitcoin. ETH/USD must break the $118 and $120 resistances to start a short term upside correction.
Ethereum Price Analysis
Yesterday, we saw a nasty decline in ETH price from the $125 swing high against the US Dollar. The ETH/USD pair broke the $122, $120, $118 and $115 support levels to move into a bearish zone. It tested the $112 support area where buyers emerged. Later, the price started consolidating losses and corrected a few points above the $114 level. It traded above the 23.6% Fib retracement level of the last slide from the $123 swing high to $112 swing low.
However, there are many hurdles on the upside near the $118 level. The price made a couple of attempts to surpass the $117-118 zone, but buyers failed to gain momentum. Besides, the 50% Fib retracement level of the last slide from the $123 swing high to $112 swing low is also near $118. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD. Finally, the 100 hourly simple moving average is positioned near the $120 level. Therefore, both $118 and $120 levels are crucial barriers for buyers in the short term.

Looking at the chart, ETH price may continue to trade in a range above $112 before the next move. If buyers push the price above the $118 and $120 resistance, there could be a recovery towards $125. If not, the price could retest the $112 or $110 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slightly placed in the bullish zone, with a flat structure.
Hourly RSI – The RSI for ETH/USD is currently moving higher towards the 50 and 55 levels.
Major Support Level – $113
Major Resistance Level – $120
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Crypto Markets Near Weekly Lows Following Weekend Volatility

This past weekend was particularly volatile for the crypto markets, which surged on Saturday before fully retracing on Sunday. The resulting losses have carried over into Monday, with most major altcoins trading flat or down slightly today.
Most altcoins are closely tracking Bitcoin’s price action, and one prominent analyst thinks that most major cryptocurrencies are looking slightly bullish on lower time frames.
Crypto Markets Could Be Bullish in the Short-Term
At the time of writing, Bitcoin is trading down marginally at its current price of $3,580, which is just slightly above its weekly lows of $3,570.
On Saturday, the crypto markets surged as Bitcoin jumped to $3,750. Unfortunately, this surge was short-lived and fully retraced on Sunday when the markets sharply dropped to lows of $3,550.
Since then, the markets have been trading sideways, and most major altcoins are currently trading down. Despite this, one analyst thinks that most major cryptocurrencies are bullish in the short-term, which could mean that they will soon see a small relief rally.
In a recent tweet, Mayne – a popular cryptocurrency trade – noted that he is not shorting Bitcoin, Ethereum, or XRP at their current prices, and is going to wait until they reach their relative points of resistance before opening new short positions.
“$BTC $ETH $XRP Back to the charts… I am not shorting any of these pairs here, stop runs until proven otherwise. HTF is bearish and I will short a break down of the key support levels they are all sitting on. Until then, looking slightly bullish on the LTFs,” he explained.
Mayne later said that he is waiting for Bitcoin to reach the low-to-mid $3,600 region before he opens new short positions.
“$BTC Going to look for a short up at the grey block if we get there. Reaction after this weekend’s dump looks bullish on the LTF so no reason to short down here. Expecting a bit of bullish relief intra-week,” he said.
A similar sentiment was echoed by Hsaka, another popular cryptocurrency trader, who recently tweeted that he is neutral on Bitcoin’s price action following the recent drop, and that he is currently holding open positions in multiple altcoins including Cardano (ADA) and Bitcoin Cash (BCH).
“$BTC 1D (01/20/19) Yesterday’s sell the rally analysis played out like a beauty • Bounced before the 3430 support level • Took out lows (green dashed) of this consolidation Neutral here, not shorting into HTF support. Covered my BTC short, holding ADA and BCH.”
Altcoins Drop Slightly After Weekend Volatility
Most major altcoins have dropped slightly today and are closely tracking Bitcoin’s price action.
At the time of writing, Ethereum is trading down 1.6% at its current price of $117.5. This past Saturday, Ethereum surged to highs of over $125 before plunging to lows of $116. Ethereum is currently trading just slightly above its weekly lows.
XRP is currently trading down 0.3% at $0.319. XRP is down from its weekly high of $0.334, which was set this past Saturday, and is up slightly from its weekly low of $0.317, which appears to be a level of relative support for the cryptocurrency.
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Biggest losers: Ethereum [ETH], Litecoin [LTC] and Bitcoin Cash [BCH] slump by 5%

The cryptocurrency market has once again succumbed to sideways movement and has now suffered a bear attack. As of January 21, major coins seem to be in a bad shape as many have fallen over 5%, at the time of press. The top losers of the market are Ethereum [ETH], Litecoin [LTC], and Bitcoin Cash [BCH].
Ethereum
Source: CoinMarketCap
According to the one-hour chart, Ethereum [ETH] the third-largest cryptocurrency, was valued at $117.23, with a market cap of $12 billion. The coin registered a 24-hour trade volume of $2.7 billion, with a fall of 5.95% over the past day. The coin has been falling over the past seven days by 0.97% and is still falling by 1.29% within the past hour.
The coin was highly traded on Bibox with the EOS/ETH pair. It reported a volume of $98 million. Bibox took the second place too with the ETH/BTC pair, and registered a volume of $94 million. The third place was taken by DOBI Exchange, with a volume of $89 million with the ETH/BTC pair.
Litecoin
Source: CoinMarketCap
Litecoin [LTC], the eighth-largest coin, was valued at $31.24, with a market cap of $1.8 billion at the time of press. It registered a 24-hour trading volume of $588 million, with a fall of 5.51% over the past day. The coin registered growth in the past seven days by 1.65%, but is falling at the time of press, by 0.05% over the past hour.
The coin registered a maximum trading volume on ZB.COM, with a trading volume of $80 million on the LTC/USDT pair. The second place was taken by OKEx, with a trading volume of $29 million on the LTC/USDT pair. The third place was taken by OKEx on the LTC/BTC pair and the volume registered was $27 million.
Bitcoin Cash
Source: CoinMarketCap
The fourth-largest coin, Bitcoin Cash [BCH], was valued at $122.91, with a market cap of $2 billion. The coin registered a 24-hour trade volume of $213 million, with a fall of 5.43% over the past day. The coin plunged even on the seven days chart by 2.89% and is still not recovering, as it dipped by 0.70%.
The coin registered a maximum trading volume on P2PB2B, with a trading volume of $16 million on the BCH/USD pair. Second on the list was P2PB2B with the BCH/BTC pair, registering a volume of $15 million. The same exchange took the third place too, with a volume of $14 million with the BCH/ETH pair.
The post Biggest losers: Ethereum [ETH], Litecoin [LTC] and Bitcoin Cash [BCH] slump by 5% appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Price Analysis: ETH Sinks Below Key Support, Could Extend Losses

ETH price failed to gain strength and declined heavily below the $118 support against the US Dollar.
There is a major bearish trend line formed with resistance at $121 on the hourly chart of ETH/USD (data feed via Kraken).
The pair remains at a risk of more losses as long as it is trading below the $119 and $121 resistances.

Ethereum price declined heavily in the past few hours against the US Dollar and bitcoin. ETH/USD settled below $120 and it may continue to decline towards $110 or $106.
Ethereum Price Analysis
After a decent recovery, ETH price faced a strong selling interest above the $125 level against the US Dollar. The ETH/USD pair formed a top near the $126 level and later started a sharp decline. It broke the $122 support and the 100 hourly simple moving average. The decline was crucial since the price broke the $120 and $118 support levels to move into a bearish zone. Sellers even pushed the price below the $115 level and a new weekly low was formed near the $113 level.
Later, the price started consolidating losses above $113 and corrected a few points higher. It moved above the 23.6% Fib retracement level of the recent decline from the $124 high to $113 swing low. However, the previous support near the $118 level is acting as a strong resistance. Moreover, the 50% Fib retracement level of the recent decline from the $124 high to $113 swing low is positioned near $118. More importantly, there is a major bearish trend line formed with resistance at $121 on the hourly chart of ETH/USD.

Looking at the chart, ETH price clearly moved into a bearish zone below $120 and the 100 hourly simple moving average. As long as it is trading below $118 and $120, there is a risk of more losses. The next supports are at $110 and $106.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bullish zone, but with a bearish bias.
Hourly RSI – The RSI for ETH/USD is currently recovering above the 25 level, with a positive angle.
Major Support Level – $113
Major Resistance Level – $121
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Ethereum [ETH/USD] Technical Analysis: Coin will be held captive by the bear for a longer duration

Since the past few days, the cryptocurrency market has neither seen a dramatic fall nor a rise. The price of all the coins seems to be stable even though they are controlled by the bear.
According to CoinMarketCap, at press time, Ethereum was trading at $121.51 with a market cap of $12.69 billion. The trading volume of the cryptocurrency is pictured to be $2.25 billion and the coin has plunged by over 4% in the past seven days.
1-hour
Ethereum one-hour price chart | Source: Trading View
In the one-hour chart, the coin shows a downtrend from $150.73 to $120.51. The uptrend for the coin is registered from $114.35 to $118.87. The coin has to first breach the immediate resistance level, which is set at $122.56 to proceed onto the strong resistance level, which is set at $129.47. The immediate support of the cryptocurrency is at $117.91 and the strong support is at $114.30.
Klinger Oscillator is currently forecasting the bull’s presence in the market for the cryptocurrency as the reading line is pictured above the signal line after a crossover.
RSI is showing that the buying pressure for the cryptocurrency is evened out by the selling pressure for the coin.
Bollinger Bands is picturing a less volatile market as the bands are seen closing in on each other.
1-day
Ethereum one-day price chart | Source: Trading View
The one-day chart demonstrates a downtrend from $618.63 to $115.91 and from $149.49 to $122.53. The cryptocurrency has recorded an uptrend from $83.74 to $115.61 and takes more steps forward to rest at $119.53. The immediate resistance for the coin is set at $156.06 and the strong resistance is at $218.94. The coin has set its immediate support ground at $114.17 and its strong support ground at $82.71.
MACD is forecasting a bearish market as the moving average line is currently seen below the signal line, after the two had a crossover.
Chaikin Money Flow is also predicting a bearish market as the money is flowing out of the market for the coin.
Parabolic SAR is on the same page as the dots have aligned above the candlesticks.
Conclusion:
The coin will continue to be held captive by the bear as the long-term players are in its support. This includes MACD, Chaikin Money Flow, and Parabolic SAR from the one-day chart.
The post Ethereum [ETH/USD] Technical Analysis: Coin will be held captive by the bear for a longer duration appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Price Weekly Analysis: ETH Facing Uphill Task Near $128

ETH price faced a strong resistance near the $127 and $128 levels recently against the US Dollar.
There is a major bearish trend line formed with resistance at $125 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair must break the $125, $127 and $128 resistance levels to move into a positive zone.

Ethereum price is struggling to clear many hurdles versus the US Dollar and Bitcoin. ETH/USD may climb higher sharply once there is a close above $128 and $130.
Ethereum Price Analysis
This past week, ETH price attempted to recover above the $132 and $133 resistance levels against the US Dollar. The ETH/USD pair tested the $133 level, but it failed to gain traction. As a result, there was a fresh decline and the price moved below the $130 and $125 support levels. There was a break below the 122 level and the price settled below the 100 simple moving average (4-hours). Moreover, there was a break below the 61.8% Fib retracement level of the last wave from the $113 swing low to $133 high.
The price tested the $117-118 support and found a decent buying interest. Besides, the 76.4% Fib retracement level of the last wave from the $113 swing low to $133 high acted as a support. Later, the price recovered, but it seems to be struggling to clear the $127 and $128 resistance levels. More importantly, there is a major bearish trend line formed with resistance at $125 on the 4-hours chart of ETH/USD. Therefore, the price must break the $125, $127 and $128 resistance levels to start a fresh upward move. The next key resistance is at $133, above which the price may climb towards the $140 level.

The above chart indicates that ETH price remains well supported near the $120 and $117 support levels. Having said that, a break above $128 is needed for a decent bullish wave.
Technical Indicators
4-hours MACD – The MACD for ETH/USD is slowly moving into the bullish zone, with a few bullish signs.
4-hours RSI – The RSI for ETH/USD is now placed nicely above the 30 level.
Major Support Level – $117
Major Resistance Level – $128
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