Ethereum (ETH) Bounces amidst Aggressive Selling

Key Resistance Levels: $225, $250, $275
Key Support Levels: $150, $125,$100

ETH/USD Long-term Trend: Bullish
Ethereum also makes an impressive move as the coin jumped above the $160 price level in the last 24 hours. The market had been under bear control when it fell to a low of $120. After a period of consolidation above $120, the bulls break above the $140 price level.

Above the support of $140, the price consolidated for a week before the price rally above $160. Ethereum is now trading above the $160 support level. Ether is likely to reach a high of $190 if the support holds. Conversely, the selling pressure will resume if the bears break below $160.

ETH/USD - Daily Chart

Daily Chart Indicators Reading:
The EMAs are at the point of a bullish crossover as the 21-day SMA attempts to crossover 50-day SMA. Also, the Relative Strength Index (RSI) period 14 level 70 indicates that the coin has reached the overbought region of the market. This indicates that sellers may come in to push the price down.

ETH/USD Medium-term bias: Bullish
On the 4-hour chart, the bulls make an upward move to retest the previous high but were resisted at $135. The bulls made three attempts before overcoming the resistance at $135. The uptrend continued up till $145 when the coin was resisted again. After many attempts, a breakout occurred as the price reached a high of $170. Meanwhile, the market is retracing.

ETH/USD - 4 Hour Chart

4-hour Chart Indicators Reading
Ethereum reached the overbought region of the daily stochastic and dropped below the 80% range. This indicates that the coin is in bearish momentum. The price breaks the resistance line and above it indicating that the support is going to hold. However, if the price breaks below the resistance line, the selling pressure will resume.

General Outlook for ETH
Ethereum has taken a bold step as it makes a positive move to the upside. The coin reached a high of $170 but it is retracing to the low of $162. The upward move is likely to continue if the bulls sustain the price above $160. Traders should adjust their parameters, in case, the bears break below the support at $160.

ETH Trade Signal
Instrument: ETHUSD
Order: Buy
Entry price: $162
Stop: $140
Target: $200

Note: Learn2Trade.com 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 results

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Ethereum (ETH) Rally Extends Into a Familiar Path of Support in Advance of $150 Level

ETHUSD Price Analysis – January 7

A thick zone of support levels should be noted in the former zone of price consolidation for the second cryptocurrency, which was established between November 23 – December 15 before the breakthrough occurred. Now it acts as a barrier at the level of $ 140-155.

Key Levels
Resistance Levels: $ 160, $ 155, $ 150
Support Levels: $ 140, $ 130, $ 125

ETHUSD Long term Trend: Bearish

ETHUSD is right now slanting on the level at $ 143.65 while it affirms not just the opposition ahead on the price level at $ 150, yet besides, 5 and 13 moving averages are overstretched.

Then, Ethereum has all-around contradicted the pattern in bitcoins in the last few sessions, albeit the present specialized circumstance makes things progressively confounded.

ETHUSD Short term Trend: Bullish

Although in a while ETH is experiencing a short-term uptrend, this may just be a correction, as medium-term and long-term trends are still bearish.

After the current price, the first key resistance level is at $ 150, the second at $ 155, and the third at $ 160. Below the current price, the first support level is $ 140, the second is $ 130, and the third is $ 125.

Instrument: ETHUSD
Order: Sell
Entry price: $ 145.25
Stop: $ 150
Target: $ 130

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The UK Might See Its First Crypto Bank in 2020

Mark Hipperson, the former Head of Technology for the Barclays group, has announced his intention to release an innovative digital banking scheme. The project, tagged Ziglu, is slated to be released in the first quarter of 2020.

According to reports, the concept of the project is an all-digital banking account that will enable its users to hold different currencies, both fiat, and crypto, in a singular account.

Ease of Use and Added Benefits
Coupled with the ability to hold different currencies in one place, the account will also allow its users to freely trade their funds on the platform. Foreign currencies will be available for purchase and sale at standard rates, and cryptocurrency will be tradable at standard prices based on multiple exchange rates.

Additionally, based on the info from Ziglu’s website, funds kept on the account can be spent on any part of the planet through a MasterCard debit card. Crypt, on the other hand, can be converted quickly at POS terminals.

Availability is Restricted to the UK for Now
Hipperson became Chief Executive Officer of Ziglu in September 2018, and the firm has filed to become a licensed issuer of electronic money with the UK’s Financial Conduct Authority.

Presently, a prototype account is in place for testing, however, its availability is restricted to only UK citizens for now. The management of Ziglu has reassured that soon enough, its services will be available to other countries.

Creating a Niche
Ziglu is not the first to offer multi-currency account services. In August 2019, Bitwala released an account that comes with a Bitcoin wallet. It recently just became Ethereum compatible.

It is also not the first to offer a crypto-based debit card. However, it will be a pioneer in offering a collection of several fiats, cryptocurrencies, along with the capacity to use any currency of choosing with a card as well as immediate conversion at any POS.

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Ethereum (ETH) Deepens into the Oversold Region as Buyers Emerge

Key Resistance Levels: $225, $250, $275
Key Support Levels: $150, $125,$100

ETH/USD Long-term Trend: Bearish
Finally, Ethereum tumbles to the oversold region after months of a sideways trend. Ethereum has one of the longest sideways trends. A market that is good for position traders. Earlier on the coin had been range-bound for four months between the levels of $160 and $200. This can be seen by the dotted trend line. On November 22, the bears breached the $160 support line.

The coin fell to the $140 support level and moved up to retest the $160 resistance level. This retest confirmed the resumption of the downtrend. Ethereum reached a low of $120 after the low of $140 was broken. The coin is still fluctuating above the $120, but the bears are still in control of price. A break below $120 will deepen into an oversold region.

ETH/USD - Daily Chart

Daily Chart Indicators Reading:
Ethereum is now in a bullish momentum as the coin trades above the 20% range of the daily stochastic. The pair is in a bearish crossover as the 12-day EMA acts as a resistance level.

ETH/USD Medium-term bias: Bearish
On the 4-hour chart, Ethereum had a bearish impulse that reached a low of $137 on November 25. The price made an upward correction and retested the $157 price level. ETH retraced to a low of $145 support. The coin moved up again and retested the $152 resistance. Today, ETH has fallen to the oversold region as buyers come up and defend the $120 support level. The coin is fluctuating above the $120 support level.

ETH/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The coin is now in a descending channel, the price tests the resistance and support lines. A break below the support line will depreciate the coin to a low of $110. Conversely, a break above the resistance line will push ETH to the high of $180.

General Outlook for ETH
Ethereum is in a downtrend. Ethereum is fluctuating above the $120 support level. The coin has rebounded but was resisted at the $133 price level. Nevertheless, a break above the first resistance will catapult ETH to a high of $152. Meanwhile, if the support cracks, Ethereum will deepen into the oversold region.

ETH Trade Signal
Instrument: ETH/USD
Order: Buy Limit
Entry price: $110
Stop: $90
Target: $180

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Ethereum (ETH) Price Analysis – ETH Rebound Again At $140 But Downtrend Remains Valid.

Ethereum, the second-largest cryptocurrency by market cap, has continued to show a sign of weakness over the past days following November 25 recovery from $133 to $159 on December 4. Against Bitcoin, Ethereum is following the same trend. However, a bullish move is likely to play as soon as the bulls step back in the market.

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

Key resistance levels: $143, $146, $159
Key support levels: $140, $138, $133

Ethereum is following a short-term bearish scenario on the 4-hour time frame. Looking at the market sentiment, ETH value is likely to depreciate more if the price dips below $140 support that has been holding for a while now. The major target for the bears is $138 and $133 – the November low.

ETHUSD, 4H Chart – December 16

Adding to the potential decline, ETH is now trading slightly below the zero levels of the MACD to indicate that the sellers are still present. More so, the RSI is currently displaying a weak trend on the 4-hour chart indicator.

If the MACD and the RSI can turn back to the positive zone, the ETH price could increase to $143 and $146, meeting the channel’s upper boundary. A further rise could the buyers to see $159 once more. But as it stands now, the three weeks downward trend is still valid in the market. The only change to the current trend is if a bullish reversal occurs.

Ethereum (ETH) Price Analysis: Hourly Chart – Bearish

Ethereum bounced off $140 again after making a third attempt to break low. This was led by a small buying reaction which allowed ETH to now trade at $141. The recent price rejection is not enough to validate a bullish trend. In fact, the triangle pattern that is spotted on the hourly chart indicates an incoming sell-off with potential support at $138 and $136.

ETHUSD, Hourly Chart – December 16

Meanwhile, an upward trend is quite uncertain as there’s no sign of a positive move at the moment. Though, there’s a close buying range at $143. The technical RSI suggests a downward trend. Similarly, the MACD is currently in a negative zone. This suggests that Ethereum remains under strong bearish control for now as more price drop is likely to play out.

ETHEREUM SELL SIGNAL

Buy Entry: $143.5
TP: $140.3
SL: 145

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Introduction to Dai Stablecoin

Dai is a decentralized Stablecoin manufactured by MakerDAO. A Dai is on equal value with $1 and is purported to remain at that level (thanks to a basic strategy) until it goes out of circulation.

A lot of people are afraid of cryptocurrencies and do not regard them as a reliable mode of payment due to their erratic nature. However, Stablecoins like Dai offers a more secure and steady mode of payment.

What Exactly are Stablecoins?
Stablecoins are digital currencies that have their value tied to assets like fiat currencies, other cryptocurrencies, precious metals, or oil. The idea is to tie it to any less volatile asset. Some developers of Stablecoins even go as far as trying to create algorithms to give these assets a fixed value.

The aim behind Stablecoins is to develop a cryptocurrency instrument free of erratic behaviors.

Other than Dai, there are quite a lot of Stablecoins including Tether, Paxos Standard Token, USD Coin, and a host of others.

How Is Dai Created?
Dai is natively supported by Ether. Ether holders can develop Dai by using the MarkerDAO DApp.

All that is required is for the user to send Ether to a Collateralized Debt Position (CDP). In return, the user receives a quantity of Dai.

CDPs are smart contracts that are blockchain-based and govern the allocation and redemption of Dai.

Dai can be purchased on several exchanges including HitBTC, Coinhub, Atomars, Bitfinex, and many more.

Benefits Associated With Dai
Some of the benefits associated with Dai include:

1- One Dai token is equal to $1.

2- It operates autonomously and cannot be tampered with by a third party body.

3- Its operations cannot be halted by any government or regulatory body.

4- It does not require any middleman to facilitate its transactions.

5- It can be sent and received to or by anyone with an Ethereum wallet regardless of location.

Different Kinds of Stablecoins
There are four general kinds of Stablecoins in existence including:

1- Fiat-supported Stablecoins.

2- Cryptocurrency-supported Stablecoins.

3- Algorithmic non-supported.

4- Hybrid Stablecoins.

The Mechanism Behind Dai’s Value Maintenance
Dai uses an incentivized approach to ensure that its value is always equal to $1. Here’s how it works, whenever a Dai drops below the $1 level, users are incentivized or motivated to boost that price. The same thing happens when the value of a Dai goes above the $1 mark.

These fluctuations happen regularly and some traders make money by trading the swings.

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Ethereum (ETH) Price Analysis – ETH Bounces Back At $140, Can This Support Hold?

From $150 this week, Ethereum fell sharply to $139 after recording 8% loss. Following a small recovery, ETH is currently priced at $143 with a total market cap of $15.6 billion and a volume valuation of $7.5 billion. Ethereum is still trapped in a six months bearish trend and has continued to rally downward for that past five days now. Against Bitcoin, the bearish momentum has remained significant.

Ethereum (ETH) Price Analysis: Daily Chart – Bearish

Key resistance levels: $150, $159
Key support levels: $140, $133, $125

Ethereum is still captured in the six months descending channel on the daily time frame. The price of ETH is more likely to remain under the bear radar until a channel break-up occurs. As of now, Ethereum is forming a bearish pattern which might trigger a price drop to $133 soon, although $140 support is still holding. It would become severe if the bearish extension reaches $125.

ETHUSD, Daily Price Chart – December 12.

In the opposite direction, there’s a close resistance for the buyers at $150, although Ether may reach $159 if the buyers can regroup well. From a technical perspective, the sellers have an upper hand in this trade. From all indications, the price is currently weak on the technical indicators, suggesting that the bears may stay longer in the market than expected.

Ethereum (ETH) Price Analysis: Hourly Chart – Bearish

Since December 9, Ethereum has been trading on a downward range with a strong bearish setup on the hourly chart. The weakness in price is causing a lot of bearish scenario in the market. After touching $140 today, Ethereum has managed to recover back to a current price of $143. A possible rejection at $144 is likely to send ETH back to $140. A new weekly low may be created at $137 and $133 if the price drops beneath $140.

ETHUSD, Hourly Price Chart – December 12

On the other hand, Ethereum may resume bullish if the buyers can surpass the white descending trend line. We can expect buying pressure towards the $147, $150 and probably $152 resistance. As shown on the MACD, the ETH market is trying to recover from the negative zone. The RSI is currently facing the 50 levels. Breaking this level would confirm a short-term buy.

ETHEREUM BUY SIGNAL

Buy Entry: $142.5
TP: $149
SL: 139.5

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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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