Category: Ethereum

Ethereum (ETH) Price Analysis: Ether Recovers Above $1,400, Resumes Up trending

Ethereum (ETH) Price Analysis: Ether Recovers Above $1,400, Resumes Up trending

Key Highlights
Ethereum slumps to $1,386.36 low and resumes upward
The crypto has resumed upward and targets the $2,000

Ethereum ETH) Current Statistics
The current price: $1,629.44
Market Capitalization: $187,011,986,101
Trading Volume: $50,431,709,770
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis February 24, 2021
Following the recent breakdown on February 20, the biggest altcoin has further declined to the low of $1,360 but pulled back. Buyers are attempting to push the price upward but are facing minor resistance above $1,600 high. Ether is trading at $1,623.30 at the time of writing. On the upside, if buyers push price above $1,800, the coin will resume upside momentum. Besides, Ether will be out of the bearish trend zone. Conversely, if the bears break below the current support at $1,400, the crypto will further depreciate to $1,200 or $1,000 low.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The crypto currency is in a bullish momentum above the 30% range of the daily stochastic. The crypto’s price fell to the support of the 50-day SMA. It is an indication of further upward movement of the coin. The downtrend would have continued if price breaks below the 50-day SMA and closed.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum fell and it is consolidating above the $1,400 support. According to the Fibonacci tool, the selling pressure has been exhausted. On February 20 downtrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. This retracement implies that ETH will fall to level 2.618 Fibonacci extensions or a low of $1,386.36. The price action has tested the support level and pulled it back.

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Author: Azeez Mustapha

Last Updated: February 24th, 2021

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Nvidia Slashes Ethereum Mining Efficiency, as GPUs Become Scarce

Nvidia Slashes Ethereum Mining Efficiency, as GPUs Become Scarce

Nvidia recently reported that it would start cutting down the efficiency of Ethereum (ETH) mining or any other cryptocurrency for that matter through the use of its new lineup of upcoming graphics processing units (GPUs).

The US-based hardware maker, via a blog post on February 19, noted that this restriction would get rolled out first on its new Geforce RTX 3060 card, scheduled for release on February 25.

The company stated that the new GPU software drivers would detect certain characteristics of the ether mining algorithm, or other cryptocurrencies, and limit its hash rate by as much as 50%.

However, Nvidia noted that the restriction would not limit the efficiency of all cryptocurrency mining activities, adding that “with the limiter only activating when processes use Dagger Hashimoto or Ethash-like algorithms.”

The company stated that it’s hopeful that the mining restriction will dissuade its users from purchasing gaming-oriented graphics cards for large Ethereum mining operations. ETH is one of the few coins that get mined via the use of graphics cards.

Reports show that GPUs have been in short supply over the past few months because of hoarding by ETH miners, manufacturing limitations, and COVID-19-induced supply chain setbacks. All these have caused the price of GPUs to surge dramatically.

Nvidia noted that “we are gamers, through and through,” adding that “we obsess about new gaming features, new architectures, new games, and tech. We designed Geforce GPUs for gamers, and gamers are clamoring for more.”

Nvidia to Create Ethereum-Oriented Processing Hardware
That said, Nvidia also mentioned that it was looking into producing GPUs specifically geared towards Ethereum miners called Cryptocurrency Mining Processor (CMP). The Nasdaq-listed company noted that CMPs would be due for release later in March.

Nvidia noted that the CMP “lacks display outputs, enabling improved airflow while mining so they can be more densely packed.” It added that CMPs have a lower peak core voltage and frequency, which would give the hardware better mining power efficiency.

 

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Last Updated: February 22nd, 2021

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Have you invested in an extremely rare opportunity of a lifetime?

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

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Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD

Note: This article was culled and abridged from a monthly cryptos update by Dr. Van Tharp. The full article can be accessed here.

You can purchase crypto coins here. 

 

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Last Updated: February 22nd, 2021

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Ethereum (ETH) Price Analysis: Ether Breaks the $2,000 Psychological Price Level but Fails to Sustain Above It

Ethereum (ETH) Price Analysis: Ether Breaks the $2,000 Psychological Price Level but Fails to Sustain Above It

Key Highlights
Ethereum has rallied to $2,040 and pulled back
The biggest altcoin plunges $1,780 as price corrected upward

Ethereum ETH) Current Statistics
The current price: $1,944.75
Market Capitalization: $223,128,304,205
Trading Volume: $32,925,063,364
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis February 21, 2021
Ethereum has broken the $2,000 psychological price level but an uptrend could not be sustained. The bears pushed back the price to the low of $1,780. The bulls buy the dips as the market moves up to $1,950 high. Further upward moves are being restricted below the $2,000 resistance.
On the upside, if the bulls break the $2,000 high, the market will rally to $2,500. On the other hand, if the bulls fail to break the resistance, Ether will resume a range-bound movement between $1,875 and $2,000.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 69 of the Relative Strength Index period 14. The crypto has room to rally on the upside. The coin is likely to fall or range-bound in a confined range. The coin is below the 80% range of the daily stochastic. It is in a bearish momentum but the price action is indicating bullish signal.

ETH/USD – 4 Hour Chart

Conclusion
After the breakdown, Ethereum is likely to move up to retest or break the $2,000 resistance. On February 20 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. This retracement implies that ETH will rise to level 1.618 Fibonacci extensions or a high of $2,232.29.


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Last Updated: February 21st, 2021

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Ethereum (ETH) Price Analysis: Ether Retraces After Rejection, May Find Support Above $1,700

Ethereum (ETH) Price Analysis: Ether Retraces After Rejection, May Find Support Above $1,700

Key Highlights
Ethereum is retracing and may find support above $1,700
The bulls failed to break above the peak price of $1,874

Ethereum ETH) Current Statistics
The current price: $1,749.39
Market Capitalization: $199,631,257,252
Trading Volume: $33,419,610,063
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 17, 2021
Ethereum bulls have failed to attain the $2000 price level. After attaining a high of $1,874, Ether has continued to fall. Yesterday, it fell to $1.725 and corrected upward. Today, it is falling from the recent high of $1.787. The downtrend will continue if the price breaks below the previous low of $1,725. Today, the biggest altcoin has fallen to the low of $1,753 at the time of writing. On the upside, if the price breaks above $1,874, the uptrend will resume. On the downside, if the price falls and finds support above $1,700, the selling pressure will be exhausted.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The Relative Strength Index period 14 indicates that Ether has fallen to level 61 of the Relative Strength index Period 14. The price is falling and approaching the 21-day SMA. The selling pressure will resume if price breaks below the SMAs.

ETH/USD – Daily Chart

Conclusion
The biggest altcoin is retracing from the peak price. The uptrend will resume when price finds support above previous lows. On February 5 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. This retracement indicates that ETH will rise to level 1.272 Fibonacci extensions or a high of $1,893 and reverse. However, the price will reverse and return to 78.6% Fibonacci retracement where it originated. The price is presently reversing.


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Last Updated: February 17th, 2021

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Ethereum (ETH) Price Analysis: Ether Consolidates Above $1,800 Support, Faces Rejection at the Recent High

Ethereum (ETH) Price Analysis: Ether Consolidates Above $1,800 Support, Faces Rejection at the Recent High

Key Highlights
Ethereum is in a downward correction after reaching a new high of $1,874
Ethereum has a target price of $2,000

Ethereum ETH) Current Statistics
The current price: $1,822.97
Market Capitalization: $209,764,960,109
Trading Volume: $31,280,576,015
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 14, 2021
Yesterday, Ethereum price reached another new high of $1,874. The new high was repelled as price fell to the support above the 21-day SMA. The presence of bullish candlestick above the 21-day SMA is an indication of a further upward move. Presently, Ether is trading at $1,807 at the time of writing. On the upside, if price rises and breaks the recent high, Ether will rally above the targeted price of $2,000. The biggest altcoin will continue the sideways move if the bulls fail to break the $1,874.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The 21-day SMA is acting as support. Each time price retraces from the recent high, it will find support above the 21-day SMA which signals the resumption of a further upward move. Ether has risen to level 66 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and approaching.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum has trading marginally and approaching the target price of $2,000. On February 10 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that the market will rise to level 1.272 Fibonacci extension or the high of $1,936.21. Later Ether will reverse to 78.6% Fibonacci retracement level where it originated

 

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Last Updated: February 15th, 2021

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Ethereum (ETH) Price Analysis: Ether Consolidates Above $1,700 Support, Faces Rejection at the Recent High

Ethereum (ETH) Price Analysis: Ether Consolidates Above $1,700 Support, Faces Rejection at the Recent High

Key Highlights
Ethereum attains a new high of $1,825 but faces rejection
The biggest altcoin retraces to consolidate above $1,700

Ethereum ETH) Current Statistics
The current price: $1,725.59
Market Capitalization: $198,057,849,490
Trading Volume: $39,676,507,929
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 11, 2020
Ethereum attained a new high of $1,825 but could not sustain the upward move. Yesterday, the biggest altcoin was repelled as the coin slumped to $1,700 support. For the past 48 hours, Ether has been fluctuating between $1,700 and $1,760. The $1,760 resistance was the previous peak price of Ether. On the upside, if a breakout occurs at the minor resistance of $1,760, it will retest or break the $1,825 high. The bullish momentum will extend to reach the targeted price level of $2,000. Nonetheless, if the upside momentum fails to resume, Ether may be range-bound between $1,700 ad $1,825.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The cryptocurrency is above the 80% range of the daily stochastic. This indicates that the price has reached the overbought region. It is in a bullish momentum. Ether is at level 52 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and capable of rising.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum is currently fluctuating above $1,700 for a possible upward move. Nevertheless, on February 10 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that the market will rise to level 1.272 Fibonacci extension or the high of $1,932.34. Later Ether will reverse to 78.6% Fibonacci retracement level where it originated


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Ethereum (ETH) Price Analysis: Ether Breaks Crucial Resistance at $1,440, Targets $1,675 High

Ethereum (ETH) Price Analysis: Ether Breaks Crucial Resistance at $1,440, Targets $1,675 High

Key Highlights
Ethereum bulls break the $1,440 overhead resistance
Ethereum reaches the high of $1,631


Ethereum ETH) Current Statistics
The current price: $1,631.78
Market Capitalization: $186,876,194,143
Trading Volume: $41,432,452,520
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 3, 2020
On February 2, Ethereum bulls broke the $1,440 resistance as the price rallied above $1,600 high. The $1,440 resistance has been holding since January 19. The recent breakout has accelerated price movement on the upside. Ether will attain the next target price of $1,675. Ether will reach the high of $2000 if the current bullish momentum is sustained. However, the upward move is doubtful as to the daily stochastic and the RSI has reached the overbought region of the market.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The crypto price has risen to level 78 of the Relative Strength Index period 14. It indicates that the crypto is in an overbought region. The coin has no room to rally on the upside. The coin is also above the 80% range of the daily stochastic. The coin is in an overbought region and a bullish momentum.

ETH/USD – Daily Chart

Conclusion
The price has broken the overhead resistance at $440. The Fibonacci tool analysis will hold as the upside momentum resumes. On January 10 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will rise to level 1.618 Fibonacci extensions or the high of $1,1729.85,

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing 

 

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Last Updated: February 3rd, 2021

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Ethereum (ETH) Price Analysis: Consolidates Above $1,300 Support as Buyers and Sellers Decide Next Move

Ethereum (ETH) Price Analysis: Consolidates Above $1,300 Support as Buyers and Sellers Decide Next Move

Key Highlights
Ethereum consolidates above $1,300
Ether has strong buying pressure above $1,200

Ethereum ETH) Current Statistics
The current price: $1,316.62
Market Capitalization: $151,910,683,082
Trading Volume: $27,636,629,137
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 1, 2020
For the past week, Ethereum is trading between $1,200 and $1,440. The price action is characterized by small body indecisive candlesticks like Doji and Spinning tops. The appearance of these candlesticks will mean that the biggest altcoin will consolidate above the current support. It indicates that buyers and sellers are undecided about the direction of the market. On the upside, if the price breaks the $1,440 resistance, Ether will attain a new target price of $1,675. On the other hand, the market will continue to fluctuate between $1,200 and $1,440 if the range-bound levels remain unbroken.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum has fallen to level 46 of the Relative Strength Index period 14. The crypto is in the downtrend zone and it is capable of falling. The coin is above 66% of the daily stochastic. The daily stochastic is sloping horizontally as price consolidates.

ETH/USD -4 Hour Chart

Conclusion
The Fibonacci tool analysis has remained the same as price consolidates. On January 10 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will rise to level 1.618 Fibonacci extensions or the high of $1,1739.45



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Ethereum (ETH) Price Analysis: Ether Is Confined in a Range as It Faces Rejection at $1,400 Resistance

Ethereum (ETH) Price Analysis: Ether Is Confined in a Range as It Faces Rejection at $1,400 Resistance

Key Highlights

The biggest altcoin is facing rejection at $1400 high
Ethereum fluctuates between $1,000 and $1,400

Ethereum ETH) Current Statistics
The current price: $1,253.22
Market Capitalization: $143,539,379,138
Trading Volume: $39,489,613,323
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis January 28, 2020
Ethereum upward move is threatened as it faces rejection at the $1,400 resistance. Each time the resistance is tested the market will fall to $1,240 low. At this low, Ether will resume upward to retest the overhead resistance. At the time of writing, the coin has fallen to the low of $1,254.

By implication, the upward move will resume retesting the $1,400 resistance. On the upside, Ethereum’s upward move will depend on breaking the resistance levels of $1,400 and $1,440. Ether has a target price of $1,845.44 if the current resistance levels are breached. . On the downside, Ether will encounter a deeper correction if the crucial supper is breached.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum is at level 55 of the Relative Strength Index period 14. The crypto is in the uptrend zone and it is capable of rallying on the upside. Each time price retraces it will find support above the SMAs. This indicates that the current uptrend is intact.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum’s upward move is doubtful as it faces rejection at the recent high. The Fibonacci tool will hold once the resistance at $1,400 is breached. On January 10 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the market will rise to level 1.618 Fibonacci extensions or the high of $1,838.39.


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Author: Azeez Mustapha

Last Updated: January 28th, 2021

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.