Tether facilitates $417k worth of transactions on ETH network as USDT continues to clog Ethereum

A Redditor recently complained about pending transactions on the blockchain by stating that the pending period was past 10 hours and at press time, all the fingers were pointed toward Tether for network congestion. As reported earlier, Ethereum’s blockchain was suffering from a case of network saturation. The blocks were adding up and Vitalik Buterin […]
The post Tether facilitates $417k worth of transactions on ETH network as USDT continues to clog Ethereum appeared first on AMBCrypto.
Source: AMB Crypto

Nasdaq Lists New Index for Decentralized Finance Projects Called Defix

Coinspeaker
Nasdaq Lists New Index for Decentralized Finance Projects Called Defix
Nasdaq’s Defix index will offer real-time tracking of crypto assets of different blockchain projects like MakerDao, Augur, Gnosis, Numerai, 0x and Amoveo.
Nasdaq Lists New Index for Decentralized Finance Projects Called Defix

Continue reading at Coinspeaker
Source: CoinSpeaker

Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So

The hot potato in the world of crypto at the moment is decentralized finance. Satoshi’s original notion of cutting out the bankers is now possible in this new world of digital assets and DeFi protocols. The industry is still embryonic but some of the bigger names in the world of crypto and finance are finally paying attention.
Crypto Wealth Management Built on ETH
By definition decentralized finance is a movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries. In essence it is doing away with the banks and middlemen to allow people to manage their own wealth on autonomous networks governed by smart contracts.
DeFi is currently dominated by DAI which is a decentralized hard asset backed, dollar pegged stable coin.  DAI, and the MakerDAO platform uses margin trading to respond to changing market conditions while preserving its value against the major world currencies. Maker is a smart contract platform on the Ethereum blockchain that backs and stabilizes DAI through a series of dynamic feedback systems called Collateralized Debt Positions (CDPs).
By depositing ETH, people can borrow stable DAI to make other investments without risking the loss of ETH, which is what happened to most during the ICO boom. Essentially it is a crypto credit facility that can issue loans at certain interest rates. Stakers are also able to use it to generate interest while protecting their stake. Industry observer Alex Saunders noted that in a world of negative interest rates DeFi could be the answer …

Imagine #Defi Apps offering 10%pa in a world of negative interest rates. Accessing stocks, commodities & tokenised assets. Portfolios auto rebalance. Smart contracts allow custody & insurance. No middlemen taking fees. The future of wealth management is being built on #Ethereum. pic.twitter.com/Crcfm3OjhO
— Alex Saunders (@AlexSaundersAU) September 10, 2019

Maker is not the only DeFi platform out there but it is the most popular at the moment. Two others have recently be noticed by crypto exchange giant Coinbase which announced a new fund to invest in the fledgling industry.
Coinbase Invests in DeFi
In a company blog post yesterday, Coinbase stated that it aims to encourage growth in DeFi by channeling funds into the development of two protocols. To begin it will contribute 1 million of its own stablecoin, USDC, each to the development of the Compound and dYdX platforms.
Coinbase USDC Bootstrap Fund lead Nemil Dalal said that DeFi is a tiny portion of the world of banking and financial transactions, adding that the company is tracking growth in an effort to further fund its expansion.
Just last month Nasdaq announced that it was adding a decentralized finance index (DeFiX) to track the projects working in the field. It initially included Maker, Augur, Gnosis, 0x and two other obscure tokens but failed to include Ether which currently powers most of the industry.
Image from Shutterstock
The post Is DeFi The Future of Crypto Finance? Some Big Industry Names Think So appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3%

ETH price is struggling to continue to move higher above the $185 resistance against the US Dollar.
The price is likely to decline if bitcoin continues to struggle below the $10,250 level.
There is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken).
The price remains at a risk of more downsides as long as the price is below $185.

Ethereum price is struggling to gain strength above $185 versus the US Dollar since bitcoin is declining. ETH price could spike below the $180 support in the near term.
Ethereum Price Analysis
In the past two days, ETH price made two attempts to surpass the $185 resistance against the US Dollar. However, bitcoin price struggled to climb higher above the $10,350 and $10,400 resistance levels. As a result, Ether price also started showing a few bearish signs below the $185 resistance. On the positive side, the price is holding the main $178 and $180 support levels.
The last swing low was formed near the $177 level. The price is currently correcting higher above the $178 and $179 levels. Moreover, there was a break above the 50% Fib retracement level of the recent decline from the $185 swing high to $177 swing low. On the upside, the $182 level is currently protecting gains. Additionally, there is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD.
The 61.8% Fib retracement level of the recent decline from the $185 swing high to $177 swing low is also acting as a resistance. If there is an upside break above $182, Ethereum price could revisit the $185 resistance level. To continue higher and start a decent rise, the price must break the $185 and $186 resistance levels.
On the upside, an initial support is near the $180 level and the 100 hourly simple moving average. The next key support is near the $178 level. If there is a downside break below the last swing low, the price could correct further lower towards the $170 support area in the near term.

Looking at the chart, Ethereum price seems to be currently consolidating in a range below the $182 and $185 resistance levels However, if bitcoin price continues to slide, there are chances of a sharp downward move move in ETH below the $175 support area in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is likely to move back into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently above the 50 level, with a minor bearish angle.
Major Support Level – $178
Major Resistance Level – $185
The post Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3% appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Could Continue Higher While Bitcoin Struggles

ETH price climbed higher recently and settled above the $175 resistance area against the US Dollar.
The price is currently consolidating gains and it might continue to rise towards $185 or $190.
There is a key breakout pattern forming with support near $180 on the hourly chart of ETH/USD (data feed via Kraken).
The price could dip a few points towards $176 or $175 before it could start a fresh increase.

Ethereum price is showing positive signs above $175 versus the US Dollar, while bitcoin is struggling. ETH price remains supported on dips and it could rise further.
Ethereum Price Analysis
Recently, there was a solid rise in ETH price above the $175 resistance area against the US Dollar. However, bitcoin price struggled to gain momentum above the $10,500 resistance area. The recent rise in pushed Ethereum above the $180 level and the 100 hourly simple moving average. Moreover, the price traded close to the $185 level and recently started a short term downside correction.
It traded below the $180 level and the tested the 23.6% Fib retracement level of the upward move from the $165 low to $185 high. At the outset, there is a key breakout pattern forming with support near $180 on the hourly chart of ETH/USD. It seems like the price might decline a few points below the trend line support at $180. The next key support is near the $178 level and the 100 hourly SMA.
Additionally, the 50% Fib retracement level of the upward move from the $165 low to $185 high is near the $175 level to act as a support. If the price continues to slide, there are chances of a trend reversal towards the $170 support area. The 76.4% Fib retracement level of the upward move from the $165 low to $185 high is also near $170. Conversely, an immediate resistance on the upside is near the $182 level.
If there is an upside break above the $182 level, the price could attempt to surpass the $185 resistance area. Above $185, the price is likely to continue higher towards the $190 and $192 resistance levels.

Looking at the chart, Ethereum price is clearly trading with a positive bias above the $175 and $178 support levels. Only an hourly close below $175 might negate the current positive bias. On the upside, the price will most likely gain bullish momentum once it clears the $182 and $185 resistance levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently moving in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently declining and it struggling to hold the 50 level.
Major Support Level – $175
Major Resistance Level – $185
The post Ethereum Price (ETH) Could Continue Higher While Bitcoin Struggles appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Pumps Past $180, But It Could Be a Fake-Out

Ethereum (ETH) incurred a significant amount of upwards momentum yesterday that came about after the aggregated altcoin market posted some decent gains that led many cryptos to surge 5% or more.
Importantly, this surge may ultimately be fleeting, as one analyst is noting that ETH has “fake pumped” on multiple occasions as of late, with each pump being followed by lower lows.
Ethereum Surges Past $180 
At the time of writing, Bitcoin is trading up nearly 5% at its current price of $182.45 and is up significantly from its daily lows of just over $170 that were set yesterday.
This explosive movement upwards led ETH to highs of just under $185, which was a previous level of major support for the crypto that has likely flipped into a resistance level. As it slowly approached this level, it is highly likely that any movement above this level could lead to a swift rejection or could spark a short-term uptrend.
The Crypto Dog, a popular cryptocurrency analyst on Twitter, recently spoke about ETH, noting that it is currently trading within a falling wedge that could lead it to surge significantly higher in the near-term.
“$ETH / $USDT: Weekly chart doesn’t get much cleaner than that,” he explained while pointing to the below chart.

$ETH / $USDT
Weekly chart doesn't get much cleaner than that. pic.twitter.com/q9j6db7FL3
— The Crypto Dog (@TheCryptoDog) September 7, 2019

Is ETH’s Current Pump a “Fake-Out” 
It is important to note that the recent surge in the altcoin markets has not been driven by Bitcoin’s price action, which could signal that this latest movement will be fleeting, especially if BTC begins moving lower in the near-term.
Josh Rager, another popular analyst, explained in a recent tweet that Ethereum has “fake pumped” on multiple occasions as of late, which could mean that this movement towards $185 will ultimately result in lower lows for the crypto.
“$ETH: What’s confirmation? How about price actually breaking and holding the 20 MA for once. Buyers have been pump-faked by ETH more than a Harlem Globetrotters basketball game,” he noted.

$ETH: What's confirmation?
How about price actually breaking and holding the 20 MA for once
Buyers have been pump-faked by ETH more than a Harlem Globetrotters basketball game pic.twitter.com/HsT3iBRXBR
— Josh Rager (@Josh_Rager) September 7, 2019

As Bitcoin continues to react to its current position in the mid-$10,000 region, it is highly probable that analysts and investors alike will soon garner greater insight into whether or not the recent surge amongst altcoins is fleeting, or emblematic or an imminent “altseason.”
Featured image from Shutterstock.
The post Ethereum Pumps Past $180, But It Could Be a Fake-Out appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum’s Downwards Pressure May Be Perpetuated by Waning Holders

Ethereum (ETH) – along with most major cryptocurrencies – has been facing significant selling pressure in recent times and has failed to regain its previous support level of $185, despite Bitcoin expressing some hints of bullishness.
New data suggests that Ethereum’s investors have a significantly higher turnover rate than Bitcoin’s investors, which may signal that any prolonged downwards trend in the aggregated crypto market will prove to be dire for ETH, as its holders may be more prone to jump ship than Bitcoin’s investors are.
Ethereum Bounces from Daily Lows, But Downtrend May Just be Getting Started 
At the time of writing, Ethereum is trading down over 1% at its current price of $174.3, which marks a slight drop from its daily highs of $177 that were set yesterday.
It is important to note that ETH did bounce yesterday evening after dipping to lows of $168, signaling that this price could be a strong region of support for the cryptocurrency.
One important trend that analysts and investors alike should closely watch is the average time that investors hold their ETH tokens, as it may signal that any downwards momentum will be significantly perpetuated by traders who jump ship.
Intotheblock, a cryptocurrency research group, recently explained in a tweet that Bitcoin investors hold their crypto for over two times as long as Ethereum investors do, which signals that investors will likely find greater stability in BTC than they will in ETH.
“One of our 30+ indicators is the avg time a token is held. Ever wondered if a cryptocurrency is being held for longer than others? i.e. How does #BTC compares to #ETH? The Answer: #Bitcoin avg holding period is more than 2x of ETH,” They explained in a recent tweet.

One of our 30+ indicators is the avg time a token is held
Ever wondered if a cryptocurrency is being held for longer than others? i.e. How does #BTC compares to #ETH?
The Answer: #Bitcoin avg holding period is more than 2x of EHT. pic.twitter.com/2DdAgCMFMO
— intotheblock (@intotheblock) September 5, 2019

Will ETH Soon Visit Next Region of Major Support?
Josh Rager, a popular crypto analyst on Twitter, recently shared his thoughts on Ethereum, explaining that he believes there is a decent chance that it continues to drop lower until it reaches its next major level of support around 0.012 BTC, which is down significantly from its current price of 0.0167 BTC.
“$ETH Zoom Out. In between major support areas. Would love to see price between 0.012 to 0.013. But want to wait for a confirmation,” Rager said in a recent tweet.

$ETH Zoom Out
In between major support areas
Would love to see price between 0.012 to 0.013
But want to wait for a confirmation pic.twitter.com/50DvtVTCdL
— Josh Rager (@Josh_Rager) September 7, 2019

Naturally, Bitcoin’s price action in the near-term will likely have a massive impact on that of ETH’s, but any prolonged downwards trend may lead to a bout of capitulation for Ethereum due to the short-term nature of its investors.
Featured image from Shutterstock.
The post Ethereum’s Downwards Pressure May Be Perpetuated by Waning Holders appeared first on NewsBTC.
Source: New feedNewsBTC.com

Telegram Starts Public Testing of Ethereum-Compatible TON Blockchain

Coinspeaker
Telegram Starts Public Testing of Ethereum-Compatible TON Blockchain
According to some reports, Telegram Open Network (TON) will be compatible with Ethereum. The company is set to release the code to run a node on the Telegram Open Network (TON) on Sunday.
Telegram Starts Public Testing of Ethereum-Compatible TON Blockchain

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Price (ETH) Dives Below Crucial Support, Bitcoin Down 5%

ETH price failed to stay above the key $185 and $180 support levels against the US Dollar.
The price is down around 10% and is trading below $172, while bitcoin is down around 5%.
There was a break below a bearish continuation pattern with support near $172 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to continue lower and it may soon test the $165 or $162 support.

Ethereum price is down close to 10% versus the US Dollar, with strong bearish moves vs bitcoin. ETH price remains in a downtrend and it could decline further to $162.
Ethereum Price Analysis
In the past few days, we saw how ETH price struggled to clear the $192 and $195 resistance against the US Dollar. The price even settled below the $190 support and the 100 hourly simple moving average. As a result, there was a sharp decline below the $185 and $180 support levels. The price declined around 10% and even broke the $172 support area. Similarly, there were strong bearish moves in bitcoin, ripple, EOS, and binance coin.
A new monthly low was formed near $166 before Ethereum started an upside correction. It recovered above the $170 level plus the 23.6% Fib retracement level of the recent drop from the $188 swing high to $166 swing low. However, the upward move was capped by the $174-175 zone. Moreover, the price failed to test the 50% Fib retracement level of the recent drop from the $188 swing high to $166 swing low.
Recently, there was a break below a bearish continuation pattern with support near $172 on the hourly chart of ETH/USD. The pair is now trading near the $170 level and it seems like it could continue to move down. An immediate support is near the $166 and $165 levels. However, the main target for the bears could be near the $162 level in the near term.
On the upside, there are many hurdles near the $175 level. However, the main resistance is now near the $180 and $182 levels (the previous supports). Besides, the 61.8% Fib retracement level of the recent drop from the $188 swing high to $166 swing low is also near the $180 level.

Looking at the chart, Ethereum price is clearly facing a strong resistance near the $172 and $175 levels. Therefore, it might continue to move down below the $170 and $166 levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly reducing its recent bearish slope.
Hourly RSI – The RSI for ETH/USD is still in the extreme oversold area, with bearish signs.
Major Support Level – $165
Major Resistance Level – $175
The post Ethereum Price (ETH) Dives Below Crucial Support, Bitcoin Down 5% appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Trading Near Make-or-Break Levels

ETH price extended its recent upward move and tested the $202 resistance against the US Dollar.
The price is struggling to gain bullish momentum above the $202 resistance area.
There is a short term ascending channel forming with support near $198 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could decline a few points, but dips remain supported near $198, $195 and $192.

Ethereum price is showing positive signs above $195 versus the US Dollar, while bitcoin is up 5%. ETH price is likely to accelerate higher once it settles above the $202 resistance area.
Ethereum Price Analysis
Yesterday, there was a decent recovery initiated in ETH price above the $190 resistance against the US Dollar. More importantly, bitcoin price rallied and climbed above the $10,500 and $10,600 resistance levels (as discussed yesterday). It opened the doors for more gains and ETH/USD climbed above the $195 and $198 resistance levels. Moreover, there was a break above the $200 resistance and a close above the 100 hourly simple moving average.
However, Ethereum price seems to be facing a strong resistance near the $202 zone. The price made a few attempts to gain strength above $202, but it failed. At the moment, the price is consolidating near $200, with an immediate support near the $198 level. Moreover, the 23.6% Fib retracement level of the recent wave from the $184 low to $203 swing high might also act as a support.
Additionally, there is a short term ascending channel forming with support near $198 on the hourly chart of ETH/USD. Below the channel support, the next important support is near the $195 level. The 50% Fib retracement level of the recent wave from the $184 low to $203 swing high is also near $194 to act as a support. More importantly, the 100 hourly SMA is at $194 to provide support if Ethereum dips.
Therefore, the price could decline a few points, but dips remain supported near $198, $195 and $192. On the upside, the price must gain momentum above the $202 and $204 levels. A successful close above $205 might pump the price further higher towards the $210 and $215 levels.

Looking at the chart, Ethereum price is facing a major resistance near the $202 zone. If it continues to struggle, there could be a downside correction. Having said that, the bulls are likely to remain active near the $195 and $192 support levels. Only a close below $190 could negate the current bullish view.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower below the 60 level.
Major Support Level – $192
Major Resistance Level – $202
The post Ethereum Price (ETH) Trading Near Make-or-Break Levels appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Breaks Recent Downtrend Resistance Line as Buyers Step Up

Ethereum’s price action has been closely tracking that of Bitcoin over the past several days, and ETH has been able to post a strong recovery from its recent drop to below $185.
Analysts are now noting that Ethereum’s ability to break above the key resistance level of $200 may be emblematic of a shifting short-term trend, which may mean that it will be able to continue climbing higher in the coming days and weeks.
Ethereum Reclaims Position Above $200 After Finding Strong Support at $185 
At the time of writing, Ethereum is trading up over 2% at its current price of $200.85, which marks a significant increase from its recent lows of $180 that were set at the time when Bitcoin faced a sharp sell-off that sent it reeling to lows of $9,500.
After tapping $180 last Wednesday, however, ETH was able to swiftly recover to $185, which persisted as a strong level of support until yesterday, which is when the crypto began incurring some upwards momentum that has led it towards its current price levels.
Today’s upwards momentum came about as the aggregated crypto market posted a strong recovery, with Bitcoin climbing towards the upper-$10,000 region while many other cryptos were able to climb 2-3%.
Another bullish piece of news that may have helped ETH climb today is that Japanese e-commerce giant Rakuten is launching a cryptocurrency exchange that supports Bitcoin, Ethereum, and Bitcoin Cash.
“BREAKING: Rakuten publicly launches crypto exchange; currently supports BTC, ETH and BCH,” Mia Tam noted in a recent tweet.

BREAKING: Rakuten publicly launches crypto exchange; currently supports BTC, ETH and BCH.
— Mia Tam (@_blockandchain_) August 19, 2019

Will ETH Continue Climbing Higher in Week Ahead?
Ethereum’s ability to surge to $200 today may be emblematic of improving technical conditions for the cryptocurrency, as Jacob Canfield – a popular crypto analyst on Twitter – explained in a recent tweet that it marked an upwards break of a downwards trend line on a short time frame.
“A lot of people are asking me about ETHBTC. #ETH / #Ethereum / $ETH Daily – Broke downtrend resistance yesterday. Hasn’t made a higher high. Below. Key S/R level at .025 that needs to be reclaimed. Weekly – Very narrow range back to 2016 levels that needs to hold,” he explained while referring to the below charts.

A lot of people are asking me about ETHBTC.#ETH / #Ethereum / $ETH
Daily – Broke downtrend resistance yesterday. Hasn't made a higher high. Below.
Key S/R level at .025 that needs to be reclaimed.
Weekly – Very narrow range back to 2016 levels that needs to hold. pic.twitter.com/m0Ig6jx6xZ
— Jacob Canfield (@JacobCanfield) August 19, 2019

Although in the short-term it does seem as though ETH may incur some further bullishness, it is important to note that its mid and long-term price action does appear to remain somewhat bearish, and a failure to follow through and extend today’s upwards momentum could lead to further losses.
Featured image from Shutterstock.
The post Ethereum Breaks Recent Downtrend Resistance Line as Buyers Step Up appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price Weekly Forecast: ETH Could Climb Above $200

ETH price declined heavily below the key $200 and $190 support levels against the US Dollar.
The price is currently consolidating losses after trading as low as $174.
There is a crucial bearish trend line forming with resistance near $195 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair could start a strong upward move once it breaks the $195 and $200 resistance levels.

Ethereum price is currently consolidating losses against the US Dollar and bitcoin. ETH price could either climb above $195 and $200 or it might resume its decline.
Ethereum Price Weekly Analysis
This past week, bitcoin and Ethereum declined heavily below $10,000 and $200 respectively against the US Dollar. The ETH/USD pair even broke the $190 support and settled well below the 100 simple moving average (4-hours). Finally, there was a push below the $185 support level and the price traded as low as $174. Recently, it started an upside correction and recovered above the $180 level.
Moreover, there was a break above the 23.6% Fib retracement level of the last major decline from the $217 high to $174 swing low. However, there are many resistances on the upside near the $192, $195 and $200 levels. Additionally, there is a crucial bearish trend line forming with resistance near $195 on the 4-hours chart of ETH/USD. The trend line coincides with the 50% Fib retracement level of the last major decline from the $217 high to $174 swing low.
The most important resistance is near the $200 and $202 levels (the previous supports). Therefore, a successful break above the $195 resistance plus a follow through above $200 is needed for a fresh increase. The next key resistance is near the $207 level and the 100 simple moving average (4-hours). Besides, the 76.4% Fib retracement level of the last major decline from the $217 high to $174 swing low is also near $207.
Conversely, if there is no upside break above $195 or $200, the price could resume its decline. An immediate support is near the $180 level, followed by the $174 swing low. A break below the $174 swing low may perhaps push the price towards $162.

The above chart indicates that Ethereum price is currently consolidating below key resistances such as $192, $195 and $200. To start a strong recovery and upward move, the price must settle above $200 in the coming days.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is currently placed in the bullish zone, with neutral signs.
4 hours RSI – The RSI for ETH/USD is currently near the 40 level, with a few positive signs.
Major Support Level – $174
Major Resistance Level – $200
The post Ethereum Price Weekly Forecast: ETH Could Climb Above $200 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Holding $200 While Bitcoin Dived 6%

ETH price is struggling to correct higher above the $215 resistance against the US Dollar.
Ethereum price is still holding the $200 support, while bitcoin declined 6% to trade below $11,000.
There is a major bearish trend line forming with resistance near $208 on the hourly chart of ETH/USD (data feed via Kraken).
The pair remains at a risk of more downsides unless it breaks the $215 and $220 resistance levels.

Ethereum price is holding the key $200 support versus the US Dollar, whereas recovering vs bitcoin. ETH price might continue to struggle as long as it is below $220.
Ethereum Price Analysis
In the past few sessions, there was a steady decline in ETH price from the $216 resistance against the US Dollar. More importantly, bitcoin price gained bearish momentum and declined towards the $10,500 bearish target (as discussed in the weekly forecast). However, Ether’s price remained above the $200 support area and no new weekly low was formed.
The last swing low was formed near $203 and the price is currently correcting higher. It broke the $206 level plus the 23.6% Fib retracement level of the recent decline from the $216 high to $203 low. However, the price is still trading well below the $210 level and the 100 hourly simple moving average. Additionally, there is a major bearish trend line forming with resistance near $208 on the hourly chart of ETH/USD.
The 50% Fib retracement level of the recent decline from the $216 high to $203 low is also acting as a resistance. Therefore, the price remains in a bearish zone below $210. Above the mentioned $210 resistance, the next resistance could be near the $212 level and the 100 hourly SMA. The main resistance on the upside is near the $215 and $216 levels.
On the downside, the $202 and $200 support levels hold the key. If there is a bearish break below the $200 support, the price could slide roughly 5%. The next stop for the bears could be near the $190 or $185 support area.

Looking at the chart, Ethereum price is clearly trading in a bearish zone below $215. However, it is holding the key $200 support area. As long as there is no daily close below the $200 support, there are chances of a short term rebound. Having said that, it won’t be easy for the bulls to gain traction above the $215 and $216 resistance levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving back into the bearish zone.
Hourly RSI – The RSI for ETH/USD is holding the 40 level, with a minor bullish angle.
Major Support Level – $202
Major Resistance Level – $212
The post Ethereum Price (ETH) Holding $200 While Bitcoin Dived 6% appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Breaks $225, Bitcoin Rallies 8% To $11,600

ETH price gained bullish momentum and broke the $220 resistance level against the US Dollar.
The price even climbed above the $225 resistance and tested the $230 zone.
There was a break above a major bearish trend line with resistance near $221 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is gaining momentum above the $225 resistance and it could climb towards the $240 level.

Ethereum price is showing a lot of positive signs above $225 versus the US Dollar, while bitcoin rallied 8%. ETH price might continue to climb towards the $240 and $250 levels.
Ethereum Price Analysis
In the past few sessions, there were bullish moves in Ethereum price above $220 against the US Dollar. The ETH/USD pair formed a swing low near the $216 level and recently started a strong upward move. The pair climbed above the key $220 resistance level to start an uptrend. More importantly, bitcoin price rallied above $11,200 (as discussed in the weekly forecast).
During the rise, there was a break above a major bearish trend line with resistance near $221 on the hourly chart of ETH/USD. The pair even cleared the $225 resistance and settled well above the 100 hourly simple moving average. A swing high is formed near $231 and the price is clearly gaining strength. An immediate support is near the $227 level. The 23.6% Fib retracement level of the recent rally from the $216 low to $230 high is also near the $227 level.
However, the main support is near the $224 level. The 50% Fib retracement level of the recent rally from the $216 low to $230 high is also near the $227 level is also near the $224 level. Moreover, the $224-$225 zone represents the previous resistance zone. Therefore, the $224 zone is likely to act as a strong support in the near term.
On the upside, a clear break above the $232 level might start a push towards the $240 zone. If the bulls remain in action, there are chances of an upside break towards the $250 level in the coming sessions.

Looking at the chart, Ethereum price is clearly gaining strength above the $225 level. Therefore, there are high chances of a solid rise towards the $240 and $250 resistance levels. Conversely, if there is a downside correction, the price is likely to find a lot of buying interest near the $224 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently well above the 70 level and in the overbought zone.
Major Support Level – $224
Major Resistance Level – $232
The post Ethereum Price (ETH) Breaks $225, Bitcoin Rallies 8% To $11,600 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price & Technical Analysis: ETH Declining Again

Coinspeaker
Ethereum Price & Technical Analysis: ETH Declining Again
On August 1st the ETH is under pressure again. It is generally traded around 213.19 USD.
Ethereum Price & Technical Analysis: ETH Declining Again

Continue reading at Coinspeaker
Source: CoinSpeaker