Building a Future on Ethereum at Canadian Hackathon

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.

0/ Early next year, we're launching our first online hackathon, focused on DeFi. https://t.co/Nv49GaOcXA
Here's a short thread about why
— ETHGlobal (@ETHGlobal) November 11, 2019

Ethereum is shaping up to be the future of finance. Watch this space!
Image from Shutterstock
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Wirex Launches Visa Travelcard with Fiat and Crypto Support across APAC Region

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Wirex Launches Visa Travelcard with Fiat and Crypto Support across APAC Region
The new Wirex Travel Card powered by VISA intended for the APAC region includes accessibility to 19 currencies, both fiat and crypto.
Wirex Launches Visa Travelcard with Fiat and Crypto Support across APAC Region

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Source: CoinSpeaker

Analysis: ETH/BTC Price Grows 7% in the Past 24 Hours, Has the Pair Finally Bottomed Out?

Ethereum (ETH) price against Bitcoin (BTC) is on the rise as the second largest cryptocurrency pair gained 7% in the past 24 hours. The solid price gains comes amidst a volatile period in the BTC market that saw the pioneer cryptocurrency’s price skyrocket to levels above $9,000 USD before crashing to $8,700 support levels at the moment.
Ethereum Sees Solid Growth as Bitcoin Slows
A mundane consolidation phase ensued on the ETH/USD pair since hitting a high of $199.71 on October 26 in a market that looks ripe for a possible bull run in the coming days. A formation of a bullish rectangular trading pattern on the pair’s daily candle charts signals a possible bullish run in the coming weeks.
However, zooming in to short term charts, the price looks to be on a bearish reversal. Looking at the 4-hour candle charts, the price is on a mini-downtrend and is set to test the minor support level at $182. A break below this support signals downward pressure towards the $178 major support level.
Source: TradingView
A bounce above the minor resistance will be a very bullish signal for ETH/USD, which may push the price to test the major resistance levels at $194 and $199.
Has ETH bottomed against BTC?
As ETH holders look at a bright future, BTC traders are not as optimistic as the price of BTC saw a $300 USD drop in the past 24 hours, shortly after reaching resistance levels at $9084 USD. ETH/BTC pair is on a steady rise since the start of November signaling a possible bottom for the price of ETH against BTC. Is a break out above resistance levels at 23,000 sats possible?

The question no-one dares to ask anymore 🤒
Has ether bottomed relative to bitcoin?
Some timid signs of rotation last week: +7% ETH/BTC pic.twitter.com/WHVIXnq7hZ
— skew (@skewdotcom) November 11, 2019

A formation of a bullish triangle on daily candle charts also signals a possible bullish trend in price. The prices bounced off the support level at 18,978 sats on Oct. 26 skyrocketing to 21,400 sats, as at time of writing. A break above the minor resistance levels at 21,900 sats and 22,300 sats may be a catalyst to spur growth to major resistance levels at 27000 sats – a level last witnessed in July.
Source: TradingView
Alt-Season on the Way?
Whenever, the price of ETH appreciates sustainably against BTC, the crypto universe starts whispering on a possible alt-season in the near future. The current bullish trend in the ETH/BTC pair is no different. One crypto trader on Twitter warns that the alt-season is here with us and investors should start checking their bags for the right tokens.
Source: Twitter
Do you think ETH is poised for a bull run? Share your views with us in the comments below!
The post Analysis: ETH/BTC Price Grows 7% in the Past 24 Hours, Has the Pair Finally Bottomed Out? appeared first on Coingape.
Source: CoinGape

Ethereum Price Weekly Forecast: ETH Holding Uptrend Support

ETH price declined recently below the $188 and $186 support levels against the US Dollar.
The price is still trading above the key $180 and $178 support levels.
There is a crucial bullish trend line forming with support near $180 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase as long as there is no daily close below the $178 support.

Ethereum price is currently holding a significant support against the US Dollar, while bitcoin is declining. ETH price is likely to rise towards $188 and $190.
Ethereum Price Weekly Analysis
This past week, Ethereum started a slow and steady decline from well above $190 against the US Dollar. More importantly, ETH traded below the key $188 support to move into a short term bearish zone.
Moreover, there was a break below the key $186 support area. Finally, the price spiked below the $182 support and the 100 simple moving average (4-hours). However, the bears failed to gain strength below $180.
As a result, Ethereum recovered above $182 and 100 simple moving average (4-hours). Besides, it traded above the 23.6% Fib retracement level of the downward move from the $194 swing high to $180 low.
The price even climbed above a connecting bearish trend line with resistance near $184 on the 4-hours chart of ETH/USD. At the moment, the price is consolidating above the $182 level and the 100 SMA.
An immediate resistance is near the $188 area (the previous support). Additionally, the 50% Fib retracement level of the downward move from the $194 swing high to $180 low is also near the $188 level.
Therefore, an upside break above the $188 resistance could push the price further higher. The next key resistance is near the $194 area. Any further upsides may perhaps set the pace for a break above the $200 barrier.
On the downside, there are many key supports near the $180 and $178 levels. Furthermore, there is a crucial bullish trend line forming with support near $180 on the same chart. Only a daily close below the $178 support could start another downward move towards the $160 level.
Ethereum Price
The above chart indicates that Ethereum price is clearly holding a couple of important uptrend supports near the $178 level. Thus, there are chances of a fresh increase above the $185 and $188 levels unless there is a clear break below $178.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is about to move into the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently below the 50 level, with a few bullish signs.
Major Support Level – $178
Major Resistance Level – $188
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Price Analysis November 6: BTC, ETH, LTC, EOS, BCH

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Price Analysis November 6: BTC, ETH, LTC, EOS, BCH
While Bitcoin, Bitcoin Cash and EOS are expected to show positive movements, Ethereum and Litecoin are not likely to grow from the current levels.
Price Analysis November 6: BTC, ETH, LTC, EOS, BCH

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Source: CoinSpeaker

DeFi Update – Total Value Locked (ETH) in DeFi Products Reaches All-Time High at 3.5 Million ETH

If 2017 was the year of “general crypto” growth and 2018 the year of “stable coins” growth, then 2019 will be regarded as the year we saw an exponential growth in “decentralized finance”, referred to as DeFi. Over the past year, the total value locked in DeFi products grew as the field witnessed a rapid growth due to the increased number of new applications and protocols.
Total USD value locked in De-Fi grows to 4-month high
According to crypto data analytics firm, Defipulse, the total value in USD locked on DeFi products touched $666 million on Nov. 6, recording a four month high. DeFi system presents an accessible-to-all, decentralized and secure platform providing loans, leverage and derivatives trading and transfer of traditional financial assets on digital platforms.
Source: DeFi Pulse
The total USD value locked (TVL) in DeFi products has seen an impressive 37% growth since August currently at $663 million USD, as at time of writing.  The sharp rise in TVL (measured in dollars) however falls short of the all-time high value of $700 million USD recorded in the summer.
Total value locked in Ether at all-time high
While the price of ETH is struggling to break the $200 mark barrier, the total value locked in ETH on DeFi products is at an all-time high with the ETH denominated value at 3.437 million ETH. The TVL (in Ether) crossed the 3 million ETH mark on Oct. 17 causing the market to take notice of the rising sub-industry in blockchain.
Source: DeFi Pulse
Ethereum based applications dominate the top 20 slots of value stored in DeFi products, holding 19 of the slots – the sole loner being the Lightning Network. Maker, a portal that offers DAI-collateralized loans, tops the charts with a dominance of 52.50%, after a slight 1.4% rise in the past 24 hours. Compound, InstaDapp, dYdX and Synthetix – all lending apps except for the last one – make the top five DeFi platforms with highest value of ETH locked.
TVL in DAI also hit an all-time high on Nov. 5 – a few tokens short of 30 million DAI locked in DeFi. A recent tweet by Defipulse, shows the extent of growth in DeFi products,

In case you need a reminder of how fast #DeFi is growing: the total $DAI locked in DeFi has increased…~81% since Aug 4, 2019~275% since May 4, 2019~9133% since Nov 4, 2018🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀
— DeFi Pulse 🍇 (@defipulse) November 4, 2019

 
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Source: CoinGape

Analyst: Ethereum Price Likely to Stagnate Until Bitcoin Gets Moving

After facing some downwards pressure yesterday, Ethereum (ETH) has been able to post a decent climb today that has allowed it to further establish its current foothold within the mid-$180 region. This price action has been strikingly similar to that of Bitcoin, and it does appear that the two assets are strongly correlated at the present.
One prominent analyst is now noting that he anticipates Ethereum to continue consolidating until Bitcoin begins moving, but any decisive break above its near-term resistance could allow it to post significantly further gains in the near-term.
Ethereum Consolidates Alongside Bitcoin
At the time of writing, Ethereum is trading up over 2% at its current price of $186.26, which marks a notable surge from its daily lows of $179.9 that were briefly visited yesterday, although the crypto sharply bounced after touching this price level.
Ethereum has been closely tracking Bitcoin’s price action over the past several days, and it appears that this correlation is strengthening as both crypto’s extend their current bout of consolidation.
Nik Patel, a popular cryptocurrency analyst, discussed this in a recent blog post, noting that its price may not move much until Bitcoin incurs a decisive trend in one direction or another.
“Ethereum seems a little unsure of itself at the moment, which is not unexpected given the volatility in Bitcoin of late; it almost seems as though it is awaiting Bitcoin’s next move before deciding on a direction,” he explained.
Analyst: ETH Has Two Key Levels to Break Above in Near-Term
As for the resistance levels that ETH needs to break above in the near-term in order for it to incur a strong uptrend, Patel notes that it needs to break above its 360-day moving average and the resistance it currently has at $200.
“Looking at the ETH/USD chart, price spent the entire week consolidating below the $200 resistance and above the 360-day moving average, though I expect that this pair will mimic BTC/USD a little while longer whilst ETH/BTC figures out its next move,” he said while doubling down in the notion that ETH won’t move much until BTC does.
It is highly probable that the coming few days and weeks will prove to be quite illuminating when it comes to where ETH and the entire crypto markets will head next.
Featured image from Shutterstock.
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Ethereum (ETH) Consolidating Below $190, Bitcoin Holding $9K

Ethereum price is facing a lot of hurdles on the upside near $185 and $186 against the US Dollar.
Bitcoin is somehow holding the key $9,000 and $8,960 support levels.
There is a key bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is mostly trading in a range above the $178 support and below the $186 resistance.

Ethereum price is facing an uphill task versus the US Dollar, similar to bitcoin. ETH price could continue to trade in a range before the next move either above $186 or below $178.
Ethereum Price Analysis
In the past few sessions, Ethereum was seen trading in a range above the $178 support against the US Dollar. ETH price made a couple of attempts to start a fresh increase, but it faced a strong resistance near the $185 and $186 levels.
The last swing high was near $186 before the price declined below the $182 and $180 levels. Moreover, there was a close below the $182 support and the 100 hourly simple moving average. A low was formed near $179 and the price is currently correcting higher.
It surpassed the 23.6% Fib retracement level of the recent decline from the $186 high to $179 low. However, the $182 level and the 100 hourly SMA are acting as a strong hurdle for the bulls.
Additionally, the 50% Fib retracement level of the recent decline from the $186 high to $179 low is acting as a resistance. More importantly, there is a key bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD.
Therefore, an upside break above the $182 resistance might push Ethereum price higher. On the upside, the main resistances are near $185 and $186. A clear break above $186 is needed for upside acceleration in the near term.
On the downside, an immediate support is near the $180 level. If there are more downsides, the price could revisit the range support area near the $178 level. A clear break below the $178 support could spark more losses towards $175 and $170.

Looking at the chart, Ethereum price is trading in a range above the $178 support and below the $186 resistance. It may perhaps continue to trade in a range before the next move, which could be either towards the $200 barrier or the $165 support area.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently recovering, but it is still below the 50 level.
Major Support Level – $178
Major Resistance Level – $185
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Potential Ethereum Dip Provides Ideal Long Entry, Claims Analyst

Ethereum’s price has been slowly grinding lower over the past 24-hours which comes about as the asset sees an even further decline in its on-chain volume, and ETH is now at risk of breaking below a key short term support level, which could mean that a period of capitulation is imminent.
In spite of this, one prominent analyst is noting that he believes that any potential price dip for both Ethereum and Bitcoin in the near-term could simply be a bear trap that provides traders and investors alike with an ideal long-entry.
Ethereum Grinds Lower as it Nears Key Short-Term Support Level
At the time of writing, Ethereum is trading down just under 2% at its current price of $182, which marks a notable drop from its 24-hour highs of $186 that were set yesterday.
Ethereum’s downwards movement today comes concurrently with a similar movement by Bitcoin, which hit highs of $9,400 overnight before it began a short-term downtrend that has sent it to beneath $9,200.
This bearishness today is simply an extension of the period of choppy trading that has been experienced by the aggregated crypto markets over the past several days and weeks, and Ethereum is currently caught in a trading range between $180 and $192, with the former price being a key support level that has held strong on multiple occasions over the past several weeks.
ETH has also been facing declining trading volume over the past week, which has dropped even further today, with TokenAnalyst noting that it has plummeted by nearly 34% over the past 24-hours.
“4H #ETH Network Stats: Price: $183.54 (+0.9%). $ETH On-Chain Volume: $192M (-33.7%). Active Senders: 198K (-17.1%). Active Recipients: 87K (-6.3%),” they explained.

24H #ETH Network Stats:
Price: $183.54 (+0.9%) $ETH On-Chain Volume: $192M (-33.7%) Active Senders: 198K (-17.1%) Active Recipients: 87K (-6.3%)
Visit https://t.co/u90eafzR5J for more info
— TokenAnalyst (@thetokenanalyst) November 3, 2019

Analyst: ETH Price Drop Could Provide Ideal Long Entry 
Mayne, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he believes any near-term breakdown for both Ethereum and Bitcoin could simply be a bear trap that is followed by a large movement upwards, which would mean that the next dip could be an ideal time to long the cryptocurrencies.
“$BTC and $ETH are consolidating. I think if we break down it’ll be a bear trap that you want to long. I expect bears to talk shit under all my bullish posts, sentiment will line up nicely. Same people talking shit are the ones who will be rebuying their spot back above $10k,” he explained while referencing the charts seen below.

$BTC and $ETH are consolidating. I think if we break down it'll be a bear trap that you want to long. I expect bears to talk shit under all my bullish posts, sentiment will line up nicely.
Same people talking shit are the ones who will be rebuying their spot back above $10k. pic.twitter.com/FnOkKS5M6I
— Mayne (@Tradermayne) November 2, 2019

The coming few hours and days will likely elucidate whether or not Ethereum and other cryptos will be able to break out of their recently established trading ranges, or if further consolidation is imminent.
Featured image from Shutterstock.
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Ethereum May Target $170 in Near-Term as On-Chain Volume Drops 20%

Ethereum (ETH) has been caught in a bout of consolidation within the mid-$180 region, which has been largely guided by Bitcoin’s inability to garner any momentum that pushes it away from the lower-$9,000 region, which is where it has been trading for the past several days.
Now, analysts are noting that ETH may be positioned for a retrace towards $170 in the near-term as it also faces an ongoing decline in on-chain volume.
Ethereum Consolidates as Analysts Target a Downside Movement 
At the time of writing, Ethereum is trading up 2% at its current price of $185, which marks a slight climb from its recent lows of $177 that were set last week.
It is important to note that Ethereum has been caught in a trading range between roughly $180 and $190 over the past several weeks, which is largely the result of Bitcoin’s bout of consolidation between $9,000 and $9,500.
Regardless of how Bitcoin trades in the near-term, Ethereum may soon incur a downside movement that takes it as low as $170, which is where its “golden fib ratio” currently exists.
The Cryptomist, a popular cryptocurrency analyst on Twitter, explained this possibility in a recent tweet, noting that ETH’s near-term target exists at $176, while its mid-term target exists at $170.
“$ETH Broken down from rising wedge from last month. Fall is not over in my opinion. Next target is 176 at .5 fib level. I do think we will go to golden ratio at .618 fib at $170,” she explained while pointing to the chart seen below.

$Eth
Broken down from rising wedge from last month Fall is not over in my opinion
Next target is 176 at .5 fib levelI do think we will go to golden ratio at .618 fib at $170 pic.twitter.com/lF1U2vN9ng
— The Cryptomist (@TheCryptomist) November 1, 2019

ETH On-Chain Volume Declines  
One factor that could potential perpetuate any downside movement experienced by ETH in the near-term is the fact that its on-chain volume has been declining as of late, which can make all crypto assets more prone to downside movements.
TokenAnalyst, a popular cryptocurrency analytics group on Twitter, spoke about this in a recent tweet, noting that the cryptocurrency’s on-chain volume has declined nearly 20% over the past 24-hours.
“24H #ETH Network Stats: Price: $181.82 (-0.5%). $ETH On-Chain Volume: $290M (-18.3%). Active Senders: 238K (+0.5%). Active Recipients: 93K (-4.4%),” they explained.

24H #ETH Network Stats:
Price: $181.82 (-0.5%) $ETH On-Chain Volume: $290M (-18.3%) Active Senders: 238K (+0.5%) Active Recipients: 93K (-4.4%)
Visit https://t.co/u90eafzR5J for more info
— TokenAnalyst (@thetokenanalyst) November 2, 2019

As Ethereum’s on-chain volume declines and bulls fail to build any noteworthy strength, it does appear to be a strong possibility that the crypto could decline further before it finds enough buying pressure to propel its price higher.
Featured image from Shutterstock.
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Ethereum (ETH) Stuck In Range, Bitcoin Struggling Near $9K

Ethereum price declined recently and traded below the $180 support area against the US Dollar.
Bitcoin is under pressure and it seems to be struggling to stay above the $9,000 support.
There is a new connecting bearish trend line forming with resistance near $183 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a decent upward move if it breaks the $183 and $185 resistance levels.

Ethereum price is showing a few bearish signs versus the US Dollar, similar to bitcoin. However, ETH price is likely to find a strong support near the $175 level.
Ethereum Price Analysis
In the past few sessions, there was a steady decline in Ethereum below the $185 support area against the US Dollar. Moreover, there was a close below the $185 level and the 100 hourly simple moving average.
Finally, ETH spiked below the $180 support and traded to a new intraday low near $177. Recently, there was an upside correction above the $180 and $182 levels.
Ethereum price managed to move above the 23.6% Fib retracement level of the recent drop from the $194 high to $177 low. However, the previous support near the $185 area acted as a resistance and prevented an upside break.
Besides, the pair failed to test the 50% Fib retracement level of the recent drop from the $194 high to $177 low. More importantly, there is a new connecting bearish trend line forming with resistance near $183 on the hourly chart of ETH/USD.
The 100 hourly SMA is also near the $183 level. Therefore, an upside break above the $183 level might push the price above the $185 resistance. The next key resistance is near the $188 level, followed by $190.
On the downside, an immediate support is near the $178 level. The main support is near the $175 level, where the bulls are likely to take a stand. If there is a downside break below the $175 level, there are chances of more losses below the $172 and $170 levels.

Looking at the chart, Ethereum price is struggling to hold the $180 and $178 supports. It could either break the $185 resistance or extend losses below the $175 support. Having said that, a clear break below the $175 support won’t be easy in the coming sessions. Below $175, the next buy zone could be near the $165 area.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently decline and it is moving lower towards the 40 level.
Major Support Level – $175
Major Resistance Level – $185
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Ethereum Price & Technical Analysis: ETH Keeps Selling, Bearish Activity Subsiding

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Ethereum Price & Technical Analysis: ETH Keeps Selling, Bearish Activity Subsiding
On Thursday, October 31st, the ETH is still declining but the activity of the sellers have decreased significantly. The cryptocurrency is generally trading around $182.70. The investors are perplexed about further movements of the asset.
Ethereum Price & Technical Analysis: ETH Keeps Selling, Bearish Activity Subsiding

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Source: CoinSpeaker

Ethereum (ETH) Losing Pace, Could Dip To $175 Before Higher

Ethereum price is under pressure and it could slide towards the $175 support against the US Dollar.
Bitcoin is currently correcting higher and it recently tested the $9,000 support area.
There was a break below a key bullish trend line with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently consolidating near $182 and it could decline towards the $175 support.

Ethereum price is struggling to continue higher versus the US Dollar, similar to bitcoin. ETH price might revisit the $175 support area before it could climb again.
Ethereum Price Analysis
After climbing above the $190 level, Ethereum failed to clear the $194 and $195 resistances against the US Dollar. A swing high was formed near $194 and the price declined below the $190 support.
Furthermore, there was a close below the $190 support and the 100 hourly simple moving average. It opened the doors for more losses below the $185 level. More importantly, there was a break below a key bullish trend line with support near $186 on the hourly chart of ETH/USD.
Finally, the price spiked below the $180 support and traded as low as $179. At the moment, the price is correcting higher above the $180 level. It broke the 23.6% Fib retracement level of the recent decline from the $194 high to $179 swing low.
However, the $185 level and the 100 hourly SMA are acting as resistances. On the upside, the next resistance is near the $186 level. It represents the 50% Fib retracement level of the recent decline from the $194 high to $179 swing low.
If there is an upside break above $186, the price could test the $190 resistance area. Any further gains might push the price towards the $195 level. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $194 high to $179 swing low.
On the downside, the $180 level is an initial support. If there are more downsides, the price could test the main $175 support area, where the bulls are likely to take a stand.

Looking at the chart, Ethereum price is showing a lot of positive signs above the $175 support, but it might dip further in the short term. Having said that, the price is likely to bounce back above $190 as long as there is no daily close below $175.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is correcting moving higher and it might soon climb above the 50 level.
Major Support Level – $175
Major Resistance Level – $190
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Ethereum (ETH) Price Likely Setting Up For Next Rally

Ethereum price is trading nicely above the $180 support area against the US Dollar.
Bitcoin price is down more than 2%, but it is trading well above the $9,000 support area.
There was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to gain pace and it could rally above the $188 and $190 resistance levels.

Ethereum price is showing positive signs above $180 versus the US Dollar, while bitcoin is correcting lower. ETH price is likely to start a fresh increase above $188.
Ethereum Price Analysis
Recently, there was a downside correction in Ethereum from the $200 resistance area. ETH price declined below the $190 and $185 levels. However, the $175 area provided support and the price remained well above the 100 hourly simple moving average.
A swing low was formed near $174 and the price started a fresh increase. It recovered above the $180 and $182 resistance levels. Moreover, there was a break above the 23.6% Fib retracement level of the downside correction from the $199 high to $174 low.
At the outset, the price is trading well above the $182 level and the 100 hourly SMA. Besides, there was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD.
An immediate resistance is near the $186 and $188 levels. More importantly, the 61.8% Fib retracement level of the downside correction from the $199 high to $174 low is near the $190 level to stop the upward move.
Therefore, Ethereum must surpass the $188 and $190 resistance levels to continue higher in the near term. The next major resistance is near the $195 level, above which the price could revisit the $200 handle.
On the downside, there is a strong support forming near the $180 level and the 100 hourly SMA. If there is a bearish break below the $180 support, the price could decline towards the $175 support. Any further losses may perhaps lead the price towards the $170 pivot level.
Ethereum Price
Looking at the chart, Ethereum price is showing a lot of positive signs above the $180 support area. A convincing close above the $188 and $190 resistance levels could set the pace for another rally towards the $200 area. If no, there is a risk of an extended downside correction towards the $170 zone.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is climbing higher and is well above the 50 level.
Major Support Level – $180
Major Resistance Level – $190
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Ethereum (ETH) Grinding Higher, Bitcoin Could Revisit $10K

Ethereum price is showing positive signs above the $175 and $180 levels against the US Dollar.
Bitcoin price is climbing higher and it is likely to revisit the key $10,000 resistance area.
There is a rising channel forming with support near $183 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to continue higher and it break the $190 and $192 resistance levels in the near term.

Ethereum price is grinding higher with positive signs versus the US Dollar, while bitcoin is approaching $10,000. ETH price must break $190 to climb towards $200.
Ethereum Price Analysis
In the past few days, there was a sharp rally in Ethereum above the $175 and $180 resistance levels. Later, there was a downside correction, but the price remained well bid above $175 and the 100 hourly simple moving average.
Similarly, bitcoin price rallied above the $10,000 level and recently corrected lower. However, BTC also found support and it is climbing higher again towards the main $10,000 resistance area.
The recent swing low was near $175 before Ethereum started a fresh increase. It broke the $180 and $182 resistance levels. Moreover, there was a break above the 50% Fib retracement level of the downward move from the $199 high to $175 swing low.
The price tested the $190 resistance level, where the bears are putting up a strong fight. Additionally, it seems like the 61.8% Fib retracement level of the downward move from the $199 high to $175 swing low is acting as a resistance.
Therefore, an upside break above the $190 resistance is likely to open the doors for more gains in the coming sessions. The next major resistance is near the $198 and $200 levels. An intermediate resistance is $194 or the 76.4% Fib retracement level of the downward move from the $199 high to $175 swing low.
On the downside, there are many supports near the $180 level. Besides, there is a rising channel forming with support near $183 on the hourly chart of ETH/USD. If there is a downside break, the price could test the 100 hourly SMA or the $175 support.
Ethereum Price
Looking at the chart, Ethereum price is clearly climbing higher steadily above $185. Having said that, the price must break the $190 resistance level to continue higher. If not, there are chances of another downside correction towards the $175 support area in the near term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is correcting lower and it is approaching the 50 level.
Major Support Level – $180
Major Resistance Level – $190
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Source: New feedNewsBTC.com