Ethereum (ETH) Price Analysis: Ether Resumes Downtrend, Faces Rejection at $3,600 High

13 October 2021 | Updated: 13 October 2021

Highlights
Ethereum price declines to $3,400 low and corrected upward
The selling pressure may continue on the downside

Ethereum ETH) Current Statistics
The current price: $3,518.37
Market Capitalization: $414,860,856,848
Trading Volume: $15,140,626,861
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 13, 2021
Ethereum’s (ETH) price is making a downward move after rejection at the $3,600 resistance. On October 6 uptrend; buyers pushed the biggest altcoin to the high of $3,632 but could not continue the bullish momentum. On October 10, the biggest altcoin dropped to $3,409 as bulls bought the dips. Ether price corrected upward to $3,622 but was resisted again. The market has started declining. Meanwhile, on October 11 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.618 Fibonacci extension or level $2,850.05.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The biggest altcoin is at level 53 of the Relative Strength index period 14. The altcoin is still in the uptrend zone and capable of a further upward move. The moving averages are still flowing upward indicating the uptrend. Ether has fallen to the oversold region but above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum.

Conclusion
On the 4-hour chart, Ethereum has fallen to the low of $3,400 but it is hovering above. Meanwhile, on October 11 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $3,330.08.

ETH/USD – 1 Hour Chart

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What are the benefits of DeFi insurance?

11 October 2021 | Updated: 11 October 2021

Introduction
Despite the recent robust growth of Defi, it is still somehow a nascent term to the financial market. Likewise, Defi insurance seems yet to be widely applied to all crypto-assets and holdings. However, it is a fact that even though Defi platforms have been gradually expanding their influence and trust among investors, a cover of insurance is always of necessity in case of any risk and fraud occurrences.

For the time being, out of the 2-trillion-dollar worth of cryptocurrency market, there are only 150 billion dollars in Defi (Decentralized finance). The problem is that more than 98 percent of the total value locked (or TVL) in Defi has not been insured regardless of its need.
In a rapidly accelerating yet precarious finance sector as Defi, this may be a threat to Defi fund holders when there is no protection for their assets against smart contract hacks, exploits, and malfunction.

What is DeFi insurance?
Insurance must not be a new concept for us. As for DeFi, insurance plays the role of safeguarding losses that tend to happen for stakes and assets in Defi. Its operations are based on quantifying hazards and redeeming claims from DeFi participants.

As we all know, generally, finance is not a safe sector, not to mention DeFi. Within Defi, lurk the causes of smart contract misconfiguration, cyber hacks, phishing among community members, and many more unwanted situations that may happen. Still, it seems that the lack of Defi insurance usage is true while only 2 percent of TVL is insured. This truth can be more dangerous than most of us think because a widespread severe loss-inducing incident can drastically cause damages to the whole DeFi ecosystem.

How does it work?
Decentralized insurance relies on smart contracts to set up different terms and provisions that identify the conditions under which a party will be relieved from financial damages and losses to a specific extent. The monetary damages can stem from a diversity of causes such as smart contract exploits, black swan events, information hacks, scams, and so on.
The mechanism of Decentralized insurance requires specific potential perils to be coded into smart contracts based on the Blockchain platform. Once the smart contract protocols have been formed for resolving predictably possible financial hazards, they can’t be modified. This is quite advantageous to the objective arbitration on insurance claims.

In brief, smart contracts contain pieces of code that encrypt policy terms, and automatically, when any occurrences of catastrophes come up toward the digital wallets, the cover for damages will be dictated according to these smart contract protocols. They will take responsibility for deciding on the situations, and if the losses are within the policy parameters, insurers will pay for the financial damages.

What are the benefits of DeFi Insurance?
The most outstanding benefit that we can get from Decentralized insurance, of course, is the security it offers against unexpected losses from market threats and digital crimes. To elaborate on this, below are some reasons that will convince anyone that this type of insurance is totally in demand if you are a participant in the DeFi market.

Its transparency and immutability
Defi insurance operates on the basis of smart contracts with configured protocols that are set to examine the contexts of insurance-claiming cases and make decisions automatically. These smart contract terms will assert if covers will be supplied or not in a completely objective way after evaluating if all necessary conditions are met for the legitimacy of insurance compensation.
Moreover, once the conditions are set, they are unchangeable, and any attempts to manipulate the appraisals of DeFi insurance smart contracts will be useless.
Rapid compensation process
A Defi insurance paying-out procedure has the upper hand over traditional insurance because of its smart contract automation. The decisions on the validity of an insurance claim and the quantifying of redemptions are based on algorithms. So, the finalization of the case will be much quicker and will avoid biases and subjectivity.

Protects against hacks on exchange platforms
On the one hand, Defi is considered safe because it doesn’t consist of any intermediaries, but there are other things we have to worry about when being a member of a DeFi ecosystem. There is no guarantee that your digital wallet and your information won’t be hacked. You still have to be cautious about the swindlers and cybercriminals around the digital finance market. The bad things that can happen to your DeFi assets are thefts or attacks on digital wallets, smart contract exploits, account detail hacks, and more.
For this reason, you need two things to prevent as many risks as possible: choosing a trustful exchange platform and looking for the right insurance provider against all the threats that may cause harm.

Protect against losses from weekly-coded smart contract
Even if the smart contracts that your DeFi transactions depend on are configured with highly safe factors, as a DeFi community stakeholder, remaining on alert is more than necessary. However superior Technology has become today, we have to agree that it is not perfect. Your smart contracts may have been hiding some loopholes that will be vulnerable to hackers if detected and insurance approaches are always in need to prevent unwanted hacks and exploits from happening.

DeFi insurance is extremely important, considering all the risks we may come across in our stakings and fundings in DeFi. However, to optimize the benefits of this insurance type, policymakers have to keep in mind the significance of consideration when it comes to policy formation. Measures on policies’ impacts must be taken carefully, and approaches to expedite the insurance redemption and examination must be considered appropriately. After all, once we have set the DeFi insurance smart contracts, the protocols can’t be modified. Therefore, we have to be careful with any determinations in establishing them.

Conclusion:
At the cutting edge of digitality, the emergence of DeFi platforms has been notably powerful. As a result, DeFi is projected to spread among the market in the near future. Simultaneously, many DeFi insurers have set forth their services to protect DeFi funders from all possible risks that may happen along the line. However, it is important to determine a credible insurance provider to keep your assets safe from fluctuations and risks of the market and DeFi ecosystem.


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Ethereum (ETH) Price Analysis: Ethereum Declines, Faces Rejection at Level $3,640

11 October 2021 | Updated: 11 October 2021

Highlights
Ethereum price faces rejection at level $3,640
Ether falls to the oversold region of the market

Ethereum ETH) Current Statistics
The current price: $3,406.22
Market Capitalization:
Trading Volume: $16,108,502,877
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 10, 2021
Ethereum’s (ETH) price rallied to $3,600 high on October 6 but was compelled to a sideways move. The bulls find penetration difficult at the recent high as the altcoin was repelled. Ether is retracing to the support above the 50-day line SMA. If it finds support above the 50-day SMA, the uptrend will resume. However, if the crypto’s price breaks below the moving averages, the selling pressure will resume.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 54 of the Relative Strength index period 14. The altcoin is still in the uptrend zone and capable of a further upward move. Ether has fallen below the 20% range of the daily stochastic. It indicates that the market is in a bearish momentum. As Ether reaches the oversold region, buyers are likely to emerge.


Conclusion
On the 4-hour chart, Ethereum was previously consolidating below the $3,640 resistance. The selling pressure has resumed as the coin faces resistance at the recent high. Meanwhile, on October 8 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $3,405.79. From the price action, the market has fallen to the low of $3,452 at the time of writing.

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ethereum Is Facing Rejection at $3,700, May Resume a Downward Correction

6 October 2021 | Updated: 6 October 2021

Highlights
Ethereum price is likely to retrace to $3,400 low
Ether faces rejection at the high of $3,700 resistance

Ethereum ETH) Current Statistics
The current price: $3,595.65
Market Capitalization: $424,737,779,028
Trading Volume: $22,575,713,894
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 5, 2021
Since October 1, Ethereum’s (ETH) price has been trading in the bullish trend zone. The upward move has been hampered because the market reached the overbought region. The biggest altcoin has been retracing from the recent high. The coin is likely to retrace to the low of $3,400. In other words, the altcoin may retrace to the support above the 50-day SMA. If it does, the uptrend will resume on the upside.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 60 of the Relative Strength index period 14. The biggest altcoin is in the uptrend zone and capable of a further upward move. Ether is above the 80% range of the daily stochastic. The daily stochastic bands are sloping downward indicating a downward move. It indicates that the market is in a bearish momentum.


Conclusion
On the 4-hour chart, Ethereum is in a bullish momentum. The bulls broke the initial resistance at $3,500 but were resisted at the $3,700 resistance zone. Meanwhile, on October 2 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that Ether will rise but reverse at level 1.272 Fibonacci extension or level $3,611.73. From the price action, the market has retested 1.272 Fibonacci extension and it is resuming a downward move.

ETH/USD – 4 Hour Chart


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Ethereum (ETH) Price Analysis: Ethereum Retraces to the $3,353 Support, Uptrend Likely

4 October 2021 | Updated: 4 October 2021

Highlights
Ethereum price will fall to the oversold region at $3,353
Ether upward move is likely

Ethereum ETH) Current Statistics
The current price: $3,356.06
Market Capitalization: $394,936,042,777
Trading Volume: $14,968,239,414
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 3, 2021
Ethereum’s (ETH) price has broken above the moving averages. This is an indication of further upward movement of the altcoin. Presently, the altcoin is facing rejection at the $3,480 high. The retracement has fallen below the 20% range of the daily stochastic. It implies that the coin has fallen to the oversold region of the market. In other words, the selling pressure has reached bearish exhaustion. Buyers will emerge to push the altcoin upward. On the daily chart, if price retraces and finds support above the 50-day SMA, the upward move may resume.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Presently, ETH’s price bars are above the 21-day and 50-day SMAs which indicates a further rise of the coin. Ether is at level 54 of the Relative Strength index period 14. It indicates that the coin is in the uptrend zone and above the centerline 50. The altcoin is capable of rising on the upside. Ether is below the 20% range of the daily stochastic. It indicates that the market has reached bearish exhaustion. Buyers are expected to emerge in the oversold region.


Conclusion
On the 4-hour chart, Ethereum has fallen to the oversold region. The selling pressure may have ended. Meanwhile, on October 3 downtrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that Ether will fall but reverse at level 1.272 Fibonacci extension or level $3,353.03.

ETH/USD – 1 Hour Chart


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Ethereum (ETH) Price Analysis: Ethereum Is Confined in a Range as Bulls and Bears Show Indifference

29 September 2021 | Updated: 29 September 2021

Highlights
Ethereum price shows strong support above $2,600
Ether range-bound move continues for few days

Ethereum ETH) Current Statistics
The current price: $2,920.84
Market Capitalization: $343,844,624,140
Trading Volume: $16,616,551,354
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis September 29, 2021
Ethereum’s (ETH) price has been fluctuating between $2,800 and $3,200 for the past week. Buyers and sellers have failed to break the range-bound levels as the altcoin continues its range-bound move. Sellers have an added advantage because Ether is trading in the bearish trend zone. Besides, the bears have broken below the previous low at $3,026. Meanwhile, on September 7 downtrend; a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $2,102.85.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether has a bearish crossover. That is, the 21-day SMA crosses below the 50-day SMA. This indicates a sell signal. Also, the altcoin is at level 43 of the Relative Strength index period 14. It indicates that the coin is in the downtrend zone and below the centerline 50. Ether is above the 25% range of the daily stochastic. It indicates that the market is in the bullish trend zone. The biggest altcoin is rising but may face stiff resistance at a recent high.

Conclusion
On the 4-hour chart, Ethereum is in a range-bound move. The biggest altcoin has been fluctuating between $2,800 and $3,200. The range-bound levels are yet to broken. Meanwhile, on September 21 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 1.618 Fibonacci extension or level $2,039.49.

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ethereum Trades Marginally, May Face Rejection at Recent High

26 September 2021 | Updated: 26 September 2021

Key Highlights
Ethereum fluctuates between levels $2,600 and $3,200
Ether may slump to level $2,035

Ethereum ETH) Current Statistics
The current price: $3,006.72
Market Capitalization: $353,835,854,770
Trading Volume: $21,809,764,847
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis September 26, 2021
After the September 21 bearish impulse, Ethereum’s (ETH) price fell to the low of $2,656 as bulls bought the dips. For the past week, the biggest altcoin has been fluctuating between $2,600 and $3,200. The uptrend will resume if price breaks above the $3,400 high. Also, the market will decline if the bears break below the $2,600 support. Meanwhile, on September 7 downtrend; a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $2,042.61.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether’s price is at level 42 of the Relative Strength index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. Ether is having a bearish crossover as the 21-day SMA crosses over the 50-day SMA. The coin is above the 40% range of the daily stochastic. It indicates that the market is in the bullish trend zone. The biggest altcoin is rising but may face stiff resistance at a recent high.

Conclusion
On the 4-hour chart, Ethereum is in a downward move. The bears are finding penetration difficult at the low of $2,656. The downtrend will resume if the previous low is breached. Meanwhile, on September 21 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 1.618 Fibonacci extension or level $2,042.16.

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ethereum Price Breaks Previous Low at $3,026, May Reach Level $2,082

22 September 2021 | Updated: 22 September 2021

Key Highlights
Ethereum price breaks moving averages resumes downward
Ether targets the low of $2,082

Ethereum ETH) Current Statistics
The current price: $2,908.05
Market Capitalization: $341,770,388,786
Trading Volume: $28,141,190,537
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis September 22, 2021
Ethereum’s (ETH) price has fallen below the moving averages suggesting a further downward movement of the crypto. The bears have also broken below the previous low at $3,026 to another low of $2,656. As the biggest altcoin falls below the previous low, further downsides are likely. Meanwhile, on September 7 downtrend; a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $2,082.71.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The crypto’s price is now below the moving averages which suggest that Ether is in the bearish trend zone. The altcoin is capable of falling in the bearish trend zone. Ether is at level 40 of the Relative Strength index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The coin is above the 20% range of the daily stochastic. It indicates that the market is in the bullish trend zone.

Conclusion
Ethereum is likely to further decline as price breaks below the previous low at level $3,026. Nevertheless, the Fibonacci tool has further indicated a downward move to level 2.0 Fibonacci extension.

ETH/USD – 4 Hour Chart

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JP Morgan Executive Claims Ethereum is Overvalued

20 September 2021 | Updated: 20 September 2021

The Managing Director of multinational bank JP Morgan Chase & Co., Nikolaos Panigirtzoglou, recently revealed that he believes Ethereum (ETH) is an overvalued digital currency.

After conducting several evaluation metrics of the network activity, he proposed a figure that best translated the value of the Ether. Panigirtzoglou and his team placed this estimate at $1,500, 55% lower than its current market price.

The Managing Director noted that ETH rallied due to optimism about future developments of the project. Panigirtzoglou noted that:

“We look at the hashrate and the number of unique addresses to try to understand the value for ethereum. We’re struggling to go above $1,500. There is a question mark here. The current price is expressing an exponential increase in usage and traffic that might not materialize.”

JP Morgan Cites Loss of Uniqueness for Ethereum as Tipping Point

According to reports, some of the research has its foundation rooted in the assertion that the idea behind Ethereum has lost its uniqueness. The study explained that the network initiated the concept of Smart Contracts in the crypto industry. However, this feature has become a common feature for a deluge of networks, dubbed “Ethereum killers,” looking to steal market share from the market giant. Panigirtzoglou noted that:

“It’s not unique. You’re already seeing competition from Binance, competition from Solana. And there are going to be more in the future.”

While the new networks pose a real threat to its dominance, Ethereum’s impact on the market might prove very difficult to surpass. Even with immense funding, most of these projects operate on the Ethereum ecosystem, further building the case for Ethereum’s market control.

Speaking on the topic, the CEO of Skale Labs, Jack O’Holleran, noted in an interview with Insider that:

“Despite major partnerships [getting] announced on other chains, we still see the absolute majority of developers [getting] pulled into the Ethereum vortex.”

 

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Ethereum (ETH) Price Analysis: Ethereum in a Downward Correction, Targets $3,149.00 Low

19 September 2021 | Updated: 19 September 2021

Key Highlights
Ethereum revisits its previous low at level $3,351
Ether is in a downward correction

Ethereum ETH) Current Statistics
The current price: $3,305.75
Market Capitalization: $390,343,671,620
Trading Volume: $13,880,292,572
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis September 19, 2021
Ethereum’s (ETH) price has broken below the 21-day SMA and it is approaching the 50-day SMA. The selling pressure will be accelerated if price breaks below the 50-day SMA. Meanwhile, on September 17 downtrend, a retraced candle body tested the 61.8%
Fibonacci retracement level.The retracement indicates that Ether will fall to level 1.618 Fibonacci extension or level $3,149.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The biggest altcoin is at level 47 of the Relative Strength index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The crypto’s price is between the moving averages. Ether is below the 20% range of the daily stochastic. It indicates that the altcoin has reached the oversold region. The selling pressure is reaching bearish exhaustion. Buyers are expected to emerge.

Conclusion
Ethereum is in a downward move. Ethereum is likely to further decline as it breaks below the downtrend line. The bears have also broken below the previous low at level $3,351. The downtrend will extend to the low of $3,149.

ETH/USD – 4 Hour Chart


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