Ethereum Near Crucial Juncture And Key Risks Warn Against Chasing ETH Higher

Ethereum is currently consolidating above the $210 level against the US Dollar. ETH price is still struggling to clear the $215 and $216 resistance levels. Ethereum is facing an uphill task near the $215 and $216 resistance levels. A strong support is forming above $208 and the 100 hourly simple moving average. There is a key breakout pattern forming with resistance near $215 on the hourly chart of ETH/USD (data feed via Kraken). The pair likely approaching a major break and it could either rally above $216 or decline sharply…

Price Analysis 5/18: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM

Most major cryptocurrencies are struggling to break out of their immediate resistance levels, which could result in a minor pullback for the next few days. Several economies around the globe are lifting lockdown restrictions that have been in place for the past few weeks. This will enable businesses to gradually come back on track and investors are also closely watching the various coronavirus vaccines that are in developmental stages. Any positive news on this front is likely to boost sentiment. As the globe is flush with liquidity, any improvement in…

As Ethereum Grinds Upwards Past $200, These Signals Can Fuel ETH Price

While the focus has been on Bitcoin (BTC) price recently, it is slowly shifting towards different projects. There’s a straightforward reason for that: the halving has passed by, so the markets are reverting to their normal day-to-day fluctuations. Hence, altcoins can regain some more attention. Based on that assumption, an analysis of Ethereum and its token Ether (ETH), the second-biggest cryptocurrency by market capitalization, is warranted. Crypto market daily performance. Source: Coin360 Ethereum facing heavy resistance between $215-230 as next hurdle While Bitcoin has been acting inside a range of…

Crypto Traders Are Longing ETH (And Not Much Else)

The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March. Despite the broader crypto markets posting price gains alongside Bitcoin (BTC) in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash. Ether longs dominate crypto markets Since breaking into record highs on Feb. 26, ETH/USD longs on major crypto exchange Bitfinex have increased by 170%, with the violent Black Thursday mid-March crash failing to drive even a modest…

ETH Community Discuss DAO for Reversing Funds Lost to Wrong Addresses

A proposal for the creation of a specialized decentralized autonomous organization, or DAO, has garnered debate within the Ethereum (ETH) community. The focus of this DAO would be to refund users who have mistakenly sent their funds to a wrong address, provided that the address contains less than three incorrect characters. The proposal gathered steam in response to a user requesting help from the r/Ethfinance community on Reddit after claiming to have lost 40 Ether as a result of a single mistaken alphanumeric character entered into the receiving wallet’s address.…

Top 5 Cryptocurrencies to Watch This Week: ETH, XLM, ADA, XMR, CRO

Besides Bitcoin, several major cryptocurrencies are consolidating close to their overhead resistances and could offer buying opportunities in the short-term. The coronavirus pandemic has crippled the United States’ economy, which is staring at its worst recession since the Second World War. To counter this, the U.S. Federal Reserve has pumped trillions of dollars into the economy. These measures are may result in hyperinflation in the future. Therefore, investors are buying gold and Bitcoin (BTC) to hedge their portfolios. Crypto market data daily view. Source: Coin360 The top-ranked cryptocurrency by market…

Price Analysis 5/15: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM

The action in altcoins has become coin specific, meaning, traders should remain with those that are in an uptrend as they are likely to follow Bitcoin if it moves higher. A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could…

Data Shows Twitter Follow Count of Ethereum Has Close Correlation With ETH Price

With Ethereum 2.0 on the works, the debacle about where this cryptocurrency is headed next has intensified. Some of the most prominent analysts in the industry argue that it could serve as the catalyst for a new bull run. Meanwhile, there are others who maintain that a major correction is underway. A renowned chartist under the pseudonym TraderXO, for instance, recently anticipated that Ethereum was bound for an upswing before continuing its march towards $142. Now that the smart contracts giant has indeed surged more than 17% from Monday’s swing…

Ether (ETH) Held by Bitfinex Exceeds Entire DeFi Market; Bitcoin Holdings Plunge by Half

Major crypto exchange Bitfinex, while experiencing a sharp plunge in BTC balance since mid-March, is now holding more ETH than the total value locked (TVL) in the decentralized finance (DeFi) market.  Bitfinex Ethereum Balance Crosses 4 Million Tweeting on Tuesday, May 12, 2020, Elias Samos, Senior Research Analyst for digital assets platform Decentral Park, said that ETH holdings on Bitfinex rose from about 2M  to 4M in two months. Detailing the growth in Bitfinex’s Ethereum balance, Simos tweeted: There is now more $ETH locked in @bitfinex than in the whole…

Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, XTZ, ADA, NEO

Several major cryptocurrencies have seen strong buying at lower levels, suggesting that the uptrend is likely to resume once Bitcoin finds support. Bitcoin (BTC) rallied above $10,000 on May 7 and just when everyone was getting ready for the long-anticipated halving surge the top-ranked cryptocurrency on CoinMarketCap plunged over 15% to hit a low of $8,130.58. However, the sharp fall in price did not attract further selling, which suggests that traders are not panicking and dumping their positions. This indicates that the sentiment is to continue buying on the dips.…