Tag: ETHUSD

Categories
Crypto Market Analysis

Daily update: Ethereum and XRP fighting for second place!

Daily update: Ethereum and XRP fighting for the second place!

The past few days have been pretty volatile when it comes to Cryptocurrencies. We’ve seen most Cryptocurrencies moving upwards. However, the ones that had the greatest and biggest spike were Ethereum and XRP. Not only that they had a massive bull run, but XRP spiked up so much that it, at one point, exceeded Ethereum and became the #2 Cryptocurrency by Market Cap.

Ethereum

Ethereum has spiked up from the $220-$230 levels all the way up to $250 levels. This is a major breakthrough, not only price-wise, but sentiment-wise as well. Many of the “Ethereum is dead” posts have died out themselves, and Ethereum has officially broken the major downwards facing trend line. This could mean only good things for this Cryptocurrency. The only thing that can actually offset the rise is the possibility of Bitcoin moving down, and dragging other Cryptocurrencies with it.

XRP

Just like Ethereum, XRP has had a major bull run. However, this one was even greater! Right after the $0.33 line was broken upwards, XRP went on a run all the way up to $0.79. However, the run was obviously too big, and came down to the consolidation point of $0.55. The run was caused by enormous bullish sentiment around XRP being included in many business ventures. At one point, XRP became the 2nd biggest Cryptocurrency by Market Cap, but Ethereum quickly rose itself and regained its spot.

Categories
Crypto Market Analysis

Weekly Analysis: Bitcoin Trend Continuation, Ethereum to Spike Up; EOS Threatening to go Downwards

Weekly update: Bitcoin Trend Continuation; Ethereum to Spike Up; EOS Threatening to go Downwards

Bitcoin

  • Fundamental analysis: Bitcoin has been improving in terms of network capacity (lightning network) and transaction number. However, the overall sentiment is still bearish. The bullish news/support come in dashes and leave pretty fast. Bitcoin’s price action over the last weeks clearly reflects such ambivalence.Many news outlets as well as influential people are suggesting that Bitcoin will go further down, making it a self-fulfilling prophecy.
  • Technical analysis: Bitcoin has been following the downwards trend for a couple of months now. If we look at the daily chart, we see a perfect downwards facing trend line to which Bitcoin rises and from which it bounces. We are expecting a next retest of that line near the end of this month. So far, however, we are in a bullish part of the move. This has been proven by Bitcoin staying above the $6480 line after breaking it.

    • Ethereum

    • Fundamental analysis: Ethereum has had it tough during the last 30 days. Many people claimed that it is obsolete, and done as a Cryptocurrency. This drove a lot of negative sentiment towards Ethereum, which prompted its dive down to unforeseeable levels just a few months ago. However, recent news have turned a bit more bullish and had helped Ethereum to perform greatly in the past couple of days. With that being said, Ethereum still has to survive the inevitable change of the ICO structure, which is leaning towards changing almost everything about them. This may impact Ethereum quite negatively.
    • Technical analysis: Ethereum has been on the rise in the past couple of days. The bullish news that came through the pile of negative ones had some impact, making Ethereum rise up to the price of $225, and holding there. However, it is still contained in the “death trend” which it will have to escape in order to survive and remain in the #2 spot in Cryptocurrency market capitalization ranking.

     

    EOS

    • Fundamental analysis: EOS’s fundamentals did not change much in the previous week. Market sentiment holds slightly bullish as people believe more and more in this project. Marketing is great when it comes to showing EOS’s potential, and people are approving the advertisements. Recently, EOS has gotten the rating of the best performing asset in China, which only added to its popularity. However, did the price follow the good sentiment, or did the Cryptocurrency market as a whole take over?
    • Technical analysis: Sadly, even with all those slightly bullish news, nothing life-changing has happened to EOS so it would spike independently. However, the market has been fluctuating, and EOS has been following. The situation is similar to Bitcoin, except for the fact that the downwards facing trend resistance line is much, much closer. If EOS does not get a spike of buyers, it will fall down to the pressure of the downwards facing resistance that’s extremely close.
Categories
Crypto Market Analysis

Daily update: Ethereum and EOS catapulted, Bitcoin crawling up

Daily update: Ethereum and EOS catapulted, Bitcoin crawling up

Bitcoin

  • Fundamental analysis: As with most days, today is no different. Fundamentals of Bitcoin have not changed. There are some rumors and articles changing the sentiment to a bit more bullish, but overall, everything stays the same.
  • Technical analysis: Bitcoin has broken the first of many resistance lines which was at the price of $6385. However, it quickly found resistance near the $6520 level, and then started consolidating. It is still uncertain of where Bitcoin will end up.

Ethereum

  • Fundamental analysis: After many articles stating that Ethereum is done as a Cryptocurrency, opinions started to change. Counterarguments towards defending Ethereum brought a dash of bullish sentiment into the game, which skyrocketed Ethereum.
  • Technical analysis: Ethereum has broken the downwards facing trend line, and skyrocketed up without ever retesting it. This sudden spike might be unhealthy and could cause major pullbacks in this unstable and overall bearish market. However, this spike surely showed that Ethereum is far from dead.

EOS

  • Fundamental analysis: EOS has been performing extremely well ever since its conception. However, the sudden spike up was due to EOS becoming a quote currency on HitBTC.
  • Technical analysis: With the price spike, EOS has just broken its consolidation zone and settled between the previous resistance (now support) line and the $5.67 resistance line.

 

Categories
Crypto Market Analysis

Daily Review: Bitcoin stagnation, Ethereum downfall, Dash crash

Daily review: Bitcoin stagnation, Ethereum downfall, Dash crash

Bitcoin

  • Fundamental analysis: Bitcoin had a pretty steady day, with practically no movements. Fundamentals on this crypto currency have not changed, while sentiment is still slightly bearish. Lightning Network keeps expanding, but that fact is not advertised properly. On the other hand, CNBC and other news outlets keep pushing bearish news, which makes people fear investing.
  • Technical analysis: After trying to push above $6400 and failing, Bitcoin returned to its consolidation path, near the price of $6270. Further movements are expected soon, but the direction is yet unknown.

Ethereum

  • Fundamental analysis: Ethereum has been struggling for quite some time now. The articles, news and videos bring out the extremely bearish sentiment towards this Cryptocurrency. Most media outlets announce the “end of Ethereum” as a thing that is inevitable.
  • Technical analysis: The technical outlook for ETH/USD is far from good. Hovering around $185, Ethereum is worth around 8% less than yesterday. This trend is highly likely to continue, with this market sentiment and no other bullish signs. However, for now, Ethereum has found support at $180.

Dash

  • Fundamental analysis: Dash is another Cryptocurrency with a bad market sentiment at the moment. However, the price defied that sentiment until today. Many people claim that dash has problems with the way it works, but the community and programmers dismiss the news.
  • Technical analysis: Dash was trying to sustain an unnatural upwards trend for a couple of days. The only question was when it would break. We called the break of the trend correctly, and when DASH reached $200, it broke the trend and fell sharply to bellow $190. This sharp decline will continue until DASH finds a good consolidation price.

Categories
Crypto Market Analysis

ETHUSD lchimoku Long Entry Ahead

An entry based on the Ichimoku system could happen if we get to the 660.92 value zone, this would bring the lagging span out of the cloud and put price near a nice and clear breakout of an inner harmonic and a pivot in time.

Categories
Crypto Market Analysis

ETH/USD Losing Altitude

Ethereum (ETH)

Market Cap: $52.26B

Circulating Supply: 99.73M ETH

Max Supply: 0 ETH

Volume (24h) $2.09B

Technical Analysis

ETH/USD plunged in yesterday’s trading session and ignored another downside obstacle. Price registered humble gains today, but you should know that the perspective remains bearish on the short term. The crypto market has started to drop after the minor upside movement and could continue this downside movement because we don’t have any reversal signs.

The rate could increase a little in the short term and could test and retest the broken levels before it will drop further.


 

You can see that the price has retested the sliding parallel line (SL) of the descending pitchfork. It has failed to make a breakout above the confluence area formed between the 50% line with the SL. The price dropped below the first warning line (WL1) of the descending pitchfork and below the lower median line (LML) of the ascending pitchfork signaling a further drop.

ETH/USD could come back to test and retest the broken lines. So, we’ll have a great selling opportunity if the price will stay below the lines mentioned.

The current drop is natural and it was expected after the failure to reach the median line (ML). Right now only a false breakdown below the lower median line (lml) of the ascending pitchfork could invalidate a further drop, but is hard to believe that the buyers could force the rate to increase significantly from here.

Conclusion

The perspective remains bearish on the short term as long as the ETH/USD rate stays below the sliding line (SL) of the descending pitchfork. It could drop towards the 400 psychological level because it should be attracted by the 150% lines in the upcoming period. Only a valid breakout above the SL will signal a reversal.