Ethereum (ETH) Price Analysis – Ethereum Likely To Recover If Double-Bottom Plays Out

Since the weekly opening, Ethereum has been seen a substantial drop, making the token to loss 7% of its value. From this week high of $153, the second performing cryptocurrency now trades at $146 with a market cap of $15.9 billion. Today, ETH is down by 0.57% but it could recover as soon as the volume and volatility become more significant.

Ethereum (ETH) Price Analysis: Daily Chart – Bearish

Key resistance levels: $159, $174
Key support levels: $140, $133

The last three weeks trading has become very rough for Ethereum, especially to surpass the $159 resistance zones. At the same time, Ethereum has been supported by the $140, although the bearish bias is still looking dominant in the daily chart. Moreover, the token has continued to remain in a descending channel pattern.

ETHUSD, Daily Chart – December 11

Leaving this tight price range, Ethereum would climb back to $174 if the buyers can break the $159 resistance. Inversely, Ethereum could roll back to $133 – the November low if the price drives beneath the $140 support.

Currently, ETH is trading above the RSI 30 level to show a sign of small recovery in the market. But on the MACD indicator, Ethereum remains negative but a recovery is likely if the buyers can turn active in the market.

Ethereum (ETH) Price Analysis: Hourly Chart – Bearish

The last two days of selling has triggered a lot of pressure to the downside, bringing Ethereum out of the ascending channel that was formed since December 4. But looking at the current double-bottom pattern, it appeared there’s hope for the bulls as Ethereum may recover soon.

ETHUSD, Hourly Chart – December 11

Meanwhile, the closest resistance for the bull is $148. A further climb would bring trading back inside the channel boundary as $150, $152 and $154 resistance could be revisited.

We can see that the RSI and the MACD indicators are slowly climbing back to reveal an incoming bullish momentum. However, if the positive signal turns false, the bears may resume pressure. Nevertheless, ETH is currently relying on $144 support.

ETHEREUM BUY SIGNAL

Buy Entry: $146
TP: $148
SL: 143.5

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Ethereum (ETH) Price Analysis – ETH Struggles Below $150 But Forms Cup-and-Handle Pattern

Ethereum has been trimming loss since the market recovers from a low of $131 to $159 in late November. Currently, ETH has become weak for past days and its price has now dropped to $148. However, we can expect the second-largest cryptocurrency to correct gains as soon as the buyers turn back active in the market.

Ethereum (ETH) Price Analysis: 4H Chart – Bearish

Key resistance levels: $150, $159, $174
Key support levels: $145, $140, $133

On the 4-hour chart, Ethereum is forming a cup-and-handle pattern that is likely to set a bullish swing soon. The price targets for the current bullish formation is $174 but there’s near resistance at $150, followed by $159. We can see that the bullish formation is gradually playing out on the technical indicators.

ETHUSD, 4H Chart – December 6

Though the RSI and the MACD are following a sideways trend to shows that the market is indecisive at the moment. Should the ETH price keep trimming loss, the market could fall to $145, $140 and even back to $133 support. The current pattern for Ethereum is likely to set a bullish run any time from now.

Ethereum (ETH) Price Analysis: Hourly Chart – Bearish

The hourly chart for Ethereum shows that the sellers are gaining control of the market for the past 8 days now. More so, the price action is still shaping inside a descending channel pattern. While trading around the channel’s upper boundary, the ETH market is subdued with choppy price actions.

ETHUSD, Hourly Chart – December 6

If the market keeps respecting the channel pattern, we can expect a price fall to $144 and potentially $140 support. On the other hand, a channel breach could send the market to $154 and $158 resistance. The MACD is currently showing a sign of indecisiveness as well as the RSI which now sitting on the 50 level. Technically, a potential price shake is around the corner.

ETHEREUM SELL SIGNAL

Sell Entry: $148.3
TP: $144.6
SL: 151

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Stolen Upbit Ethereum Tokens Suspected to be on the Move

Suspicious activities have been observed in one of the addresses involved in the recent hack involving Upbit, which saw the perpetrators move about $50 million in Ethereum tokens to an unidentified wallet.

Whale Alert, a statistical analysis website focused on tracking huge cryptocurrency transactions, alerted that a 10,000 Ethereum token (about $1.5 million) transaction was executed on the 3rd of December from the suspected wallet.

Just five minutes after that transaction, another smaller transaction of 1,001 Ethereum tokens ($150,000) was recorded from that same wallet.

Another 10,000 Ethereum token transaction has been recorded again just a few hours later. In total, six transactions have been made from that wallet.

Suspected Case of Internal Robbery
Upbit, a subsidiary of South Korea’s Kakao, announced last week that 342,000 Ethereum tokens were stolen from its hot wallet on the 27th of November.

The robbery is suspected to be an “inside job” rather than an outside robbery as the act was perpetrated at a period when the exchange was in the process of transferring assets between its hot and cold storage.

Other exchanges like Binance, have pledged solidarity promising that they would not allow the stolen asset to be transacted on their platforms. However, the transactions that were executed have all been identified as affiliated with the hack event but were carried out with success on the platform nonetheless.

Upbit Promises Full Refund to Affected Customers
Upbit has guaranteed the affected customers that they would all receive full refunds from the exchange’s corporate capital.

Upbit is one of the four most prominent exchanges in the country. It is also a member of the Korean Blockchain Association, which comprises 14 cryptocurrency trading platforms. Members of the association are mandated to manage its customers’ tokens separately from its own and publish audit and financial reports frequently.

In 2018, the prime four exchanges developed a hotline for reporting any suspected illicit transactions to flag and freeze such transactions.

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Ethereum (ETH) Price Analysis – ETH Struggles Below $160 As Bearish Bias Remains Dominant

Ethereum has seen a substantial loss of about -6% over the past five days of trading, making the token to trade at $148 at the moment. Meanwhile, the market is still very much on a six-month downward range. ETH is likely to remain bearish for the rest of the year if the buyers fail to show a strong commitment to trading. As of now, the second-largest cryptocurrency is down by -0.15% with a market cap of $16.1 billion.

Ethereum (ETH) Price Analysis: Daily Chart – Bearish

Key resistance levels: $158, $177
Key support levels: $138, $131

The daily outlook for Ethereum shows a bearish momentum which appears unending at the moment. Following last week sell-off, ETH has managed to recover a bit after locating support near the channel’s lower boundary at $132. If the buyers can continue to act upon this support, the price of ETH may reclaim $158 and $177 resistance. But as it stands now, the market is under a small bearish correction.

ETHUSD, Daily Chart – December 3

Before we can consider an upward move, Ether needs to move out of the descending channel. Looking at the last few days of drops, ETH may retest near support at $138 and possibly $131. As shown on the technical indicators, the MACD is still in a bearish condition. Though, the RSI has recovered from the oversold condition but remains in a downward direction. We can expect a price increase as soon as the buyers step back into the market.

Ethereum (ETH) Price Analysis: Hourly Chart – Bearish

Ethereum has continued to show a sign of weakness on the hourly chart as the market now formed a descending channel which has been shaping since November 28. The sellers are gaining control of the market. Currently, ETH is testing the channel’s upper boundary with a more bearish setup. The key support to watch out for is $146 and $143. It may become heavy if a channel break-down occurs.

ETHUSD, Hourly Chart – December 3

However, if Ethereun clearly breaks out of the channel’s upper boundary, the bulls would reclaim the $152 and $156 resistance within a blink of an eye before deciding on the next move. A look on the RSI suggests that the ETH market is under bearish pressure. However, the MACD indicator is about to leave the negative zone. We can expect a breakout if MACD makes a clear bullish crossover.

ETHEREUM BUY SIGNAL

Buy Entry: $148.5
TP: $156.2
SL: 144

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Ethereum (ETH) Price Analysis – ETH Pauses Bullish Formation For Healthy Retracement

Ethereum saw a small increase over the past days which made the token to break slightly above $155. Since the break, ETH has been finding it hard to move further. Meanwhile, the cryptocurrency is experiencing a low amount of volume and volatility since the breakout on November 27. If the short-term bullish setup fails to materialize, ETH may fall back to the previous bearish swing. As the time of writing, Ethereum is priced at $152.

Ethereum (ETH) Price Analysis: Daily Chart – Bearish

Key resistance levels: $163, $177
Key support levels: $141, $131

The daily outlook for Ethereum suggests a bearish trend which is now forming in a wedge pattern. Following this pattern, there’s no sign of bullish momentum for Ethereum at the moment until a wedge breakup triggers, probably at $177 resistance. Notwithstanding, the buyers are likely to meet immediate resistance at $163 if the buying pressure becomes intense.

ETHUSD, Daily Chart – November 29

 

The recent price increase gave the RSI a little rise above its 30 levels. A strong bullish regroup could continue to keep the RSI in an upward movement, making the price of ETH to reach the overbought area in no time. Currently, the MACD for Ethereum is in the bearish zone. A lower expansion of the oscillator could roll the price back to wedge’s support at $141 and $131.

Ethereum (ETH) Price Analysis: Hourly Chart – Bullish

Since Ethereum broke out of the triangle pattern, the price action has been roaming on a sideways, now sitting on the broken triangle. Though, the price is now forming in a rising wedge. But it appeared the market is looking for a retest at the lower boundary of the wedge at $150 before bouncing back. A drive beneath the wedge may send ETH to near support at $141.

ETHUSD, Hourly Chart – November 29

Bouncing off the wedge would be a perfect move and most especially an interesting experience for the bulls. The next resistance to watch out for is $156, followed by $160 – where the wedge’s upper boundary lies. We can see that Ether is currently lying at the mid-level of the technical indicators to show an indecisive market. However, we may need to wait for a while to see the actual play before taking a position.

ETHEREUM BUY SIGNAL

Buy Entry: $150.87
TP: $160
SL: 148

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Ethereum (ETH) May Depreciate If It Faces Price Rejection at $155

Key Resistance levels: $220, $240, $260
Key Support Levels: $150, $130,$110

ETH/USD Long-term Trend: Bullish
Recently, Ethereum had a selling pressure as the bears broke the dashed line (blue lines) at $150 and the price fell to the low of $135. After the coin falls, the market pulled back but ETH is currently facing resistance at $155. In retrospect, after the last bearish impulse in September,

Ethereum had been in a range-bound movement between the levels of $150 and $200. The $150 price level had been strong support before it was broken in November. The support is now resistance in November. Ethereum is not likely to move up because of this resistance level. However, if the bulls fail to break the current resistance, the coin will face another selling.

ETHUSD-Daily Chart

Daily Chart Indicators Reading:
The recent price fall broke below the downtrend line but pulled back above it. This shows that the bulls are still in control of price but are presently facing resistance at $155. However, if the coin face another selling and the downtrend line and support line are broken, Ethereum will resume the downtrend move. The stochastic is showing signs of bullish momentum but the price is in the oversold region.

ETH/USD Medium-term bias: Bullish
In November, Ethereum was fluctuating between the levels $180 and $197 but the bulls fail to break the resistance at $197. The inability of the bulls led to the downward move. The market drops and breaks the previous low of $150 and created another low of $135. The market has moved up again but it is facing resistance at the current price level.

ETHUSD-4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and 50-day SMA are trending southward indicating that the market is still bearish. The RSI period 14 level 51 indicates that the price is above the centerline 50. This indicates that the Ethereum is rising

General Outlook for ETH
The overall trend of Ethereum is bearish. The ETH is trading below the resistance at $155. Ethereum may further depreciate if the bulls fail to break the resistance at $155. This will result in the sliding down of the coin to the previous low. Alternatively, the coin will be fluctuating between the levels of $135 and $155.

ETH Trade Signal
Instrument: ETHUSD
Order: Buy Limit
Entry price: $140
Stop: $125
Target: $180

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Spanish Financial Authority Raises Alarm Over Unscrupulous ICO Activity

A financial regulatory agency in Spain has published a warning call to the public to avoid an Ethereum-based token known as AlyCoin.

According to a news release published on the 18th of November, the Comisión Nacional del Mercado de Valores cautioned the public to steer clear of AlyCoin as the digital currency is not registered in the country nor is it listed in affiliated registries and as such encourages ungoverned ICOs.

The agency purports that AlyCoin renders financial services that violate the Securities Markets Law.

AlyCoin’s Claims
The firm regards itself as an autonomous digital currency based on Ethereum. The firm’s ICO period is slated to cut through from December 24, 2018, to December 24, 2019. After the ICO, the firm plans on distributing 35 million tokens in batches of 5 million at a starting price of $0.10 per token in the first batch. The firm also says it is already prepared to pump over 82 million tokens in the market.

AlyCoin has mentioned that it is going to run its operations in full adherence with corresponding rules and regulations and endeavor to secure all the essential licensing and approvals. The firm explained that it may not be feasible to assure that any such licensing or approval will be procured within a given time. What this means is that the initiatives explained in this document may not apply to all markets, which is a contradiction to its operation in the Spanish market.

More Blacklistings Against Crypto Brokerage Companies
Already, some weeks ago, the German Federal Financial Supervisory Authority published a caution against Bulgarian crypto brokerage, 5Capital following the event of the firm illicitly offering Contracts for Difference developed to expose customers to the price movements in the crypto market.

Sometime in October, the Malta Financial Services Authority cautioned about a Bitcoin scam dubbed Bitcoin Future as it appeared to share similar properties as a previously observed scam called Bitcoin Revolution which had previously been given two public cautioning this year.

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Ethereum Continues Its Sideways Move as the Market Reaches the Terminal Point

Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

ETH/USD Long Term Bias : Ranging
The ETH/USD pair had been in a range-bound move after the last bearish impulse in August. In the first instance, the price made an upward correction which was resisted at the $220. Consequent to that, the coin nosedived to the previous low at $160. Presently, the coin is fluctuating between the levels of $160 and $200. Recently, in October after the bulls took control of the price, the coin is now consolidating between the levels of $177 and $195.

Every time the market tests the $195 resistance, the coin will retrace to a low at $177. This has been the price situation in recent times. Nonetheless, if the price breaks the $200 price level, ETH will rally to $220. Also, if the upward move is sustained above $220, Ethereum will recommence its uptrend movement. ETH will be regarded as out of the range-bound zone. Meanwhile, the fluctuations will continue as long the coin is within the current price range.

ETHUSD-Daily CHart

Daily Chart Indicators Reading:
Ethereum has been reversed in September according to the 1.272 Fibonacci extension level. A break at the resistance line will compel ETH to resume a bullish movement.

ETH/USD Medium-Term Bias: Ranging
On the 4-hour chart, Ethereum is fluctuating between the levels of $177 and $195. The breaking of the levels will determine Ethereum’s next move. Meanwhile, the price is trading above the support line. This means the coin will fluctuate for a few more days.

ETHUSD-4-Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and the 50-day SMA are sloping smoothly in between the price level indicating the sideways movement. The market is in a bearish momentum below the 75% range of the Stochastic.

General Outlook for ETH
Ethereum is likely to continue to trade in a sideways move as the price is at $180. ETH may revisit the previous low if the bears have the upper hand above the bulls. The market seems to be stagnant above $180 for the past three days. If the bulls take control of the price, ETH will retest the resistance line.

ETH Trade Signal
Instrument: ETHUSD
Order: Buy Limit
Entry price: $160
Stop: $150
Target: $197

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Ethereum (ETH) Price Analysis – Ethereum May Continue Bullish Amidst Sideways Move

 

Following the last few days of the positive move, Ethereum is now trading above the 4-months descending wedge on the daily chart but the price has reached breakpoint on the hourly chart as the market carves a triangle pattern. Meanwhile, ETH is following a short-term bullish sentiment as it may become stronger in the next coming days. A weak moment may turn Ether to a severe price fall as $153 remains an important support for the market.

Ethereum (ETH) Price Analysis: Daily Chart – Neutral

Key resistance levels: $190, $199, $222
Key support levels: $174, $166, $160

On October 25, Ethereum saw a little spike above the descending wedge on the daily chart. The market has since been subdued with choppy price actions. Despite that, the ETH price has managed to rise back above the RSI 50 levels, which is an indicator for a bullish step back.

ETHUSD, Daily Chart – October 29

Because of this, we can look for the next resistance at around $190, $199 and $222. Meanwhile, the crypto trading signals a potential sell with a Doji candle as the bears may take charge of the market shortly.

In view of the possible move, the $174, $164 and $160 are key supports for the next selling pressure. The sideways move on the MACD shows that the market is indecisive at the moment. Ethereum may go parabolic if we continue to see a significant rise.

Ethereum (ETH) Price Analysis: Hourly Chart – Bullish

Ethereum is currently indecisive on the hourly chart as the market lurks around for a surge in volatility. Similarly, ETH is shaping inside a symmetrical triangle. The actual direction is yet unknown. But considering the current move on the technical indicators, the price of ETH is likely to fall at $175, $170, $165 and potentially $160 if the bears take over.

On the other hand, Ethereum may continue bullish momentum if the market rises above the triangle formation. Therefore, we can expect the price to hit $190, $195 and $200 in no time. Nevertheless, we can say that the Ethereum market is bullish at the moment.

ETHEREUM BUY SIGNAL

Buy Entry: $185
TP: $1195
SL: 180

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Ethereum (ETH) Price Analysis – Possible Correction May Keep ETH On Short-Term Bullish

 

Over the past five days, Ethereum has been trading below $180 following the October 11 huge sell-off at $196. ETH is currently roaming around the $173 after seeing a little price increase over the weekend, although the trend is still looking bearish on a medium-term. The ETH price appeared stable at the moment. We can expect a sudden price change once trading volatility increases.

Ethereum (ETH) Price Analysis: 4H Chart – Bearish

Key resistance levels: $177, $187, $193, $198
Key support levels: $170, $167, $160, $151

On the 4-hours chart, Ethereum is revealed in a downward range but has managed to stay above the $170 support despite the last ten days decline. Should supply outweigh demand; we may see an instant sell to $167 and $160 after surpassing $170 support. The $151 is the last support area for the bulls to defend. We can see that the MACD indicator is negative, although lying near the zero level.

ETHUSD, Hourly Chart – October 22

Producing a bullish cross might cause the market to raise at $177, $187 $193 and $198 on a short-term buy. However, the trading crypto signals that Ethereum is slowly rising back but currently waiting at the 50 level. We can expect more price increase if the RSI 30 can bolster as strong support.

Ethereum (ETH) Price Analysis: Hourly Chart – Bullish

Zooming into the hourly chart, we can see that ETH has seen significant volatility to the upside over the last 4 days, allowing the market to follow a bullish sentiment. Meanwhile, the market is near the channel’s support as sellers target the $170 support but the break signal is yet to validate. If the price channel’s lower boundary can contain selling pressure, the price is likely to bounce higher to $176 and $178 and potentially $180 resistance.

ETHUSD, Hourly Chart – October 22

But looking at the current RSI, the market is heading back to the negative to show that the sellers are returning in the market. As said earlier, the $170 remains a key support area for the bears. Further support lies at $168 as new support may hold at $166. The MACD is now lying at the zero level, showing that the market is indecisive at the moment.

ETHEREUM BUY SIGNAL

Buy Entry: $173
TP: $183
SL: 170

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