Ethereum (ETH) Price Analysis: Ether in a Minor Retracement, May Resume an Uptrend

31 October 2021 | Updated: 31 October 2021

Ethereum price rallied to $4,445 high
Ether may decline to $4,109 low

Ethereum ETH) Current Statistics
The current price: $4,249.15
Market Capitalization: $500,474,728,891
Trading Volume: $17,251,740,375
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 31, 2021
Ethereum’s (ETH) price is retracing after the recent rejection at $4,456. At first, the cryptocurrency retraced to $4,235 low and corrected upward. The upward correction was terminated at the $4,400 resistance as the bears resume downward move. Ether has fallen to the low of $4,164 and resumed upward. If the current support holds, the market will continue to rise on the upside. However, if the current support fails to hold, the downtrend will resume.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ethereum is at level 59 of the Relative Strength index period 14. It indicates that the crypto is in the uptrend zone and it is above the centerline 50. Ether is above the 25% range of the daily stochastic. The market is in a bullish momentum.

Conclusion
On the 1-hour chart, ETH/USD is in a downward move. Bullish candlesticks are indicating a possible upward move of Ether. Meanwhile, on October 30 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Ether will fall to level 1.618 Fibonacci extensions or level $4,109.77. From the price action, Ether has fallen to the low of $4,170 and it is resuming upward.

ETH/USD – 1 Hour Chart


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Ethereum (ETH) Price Analysis: Ether Drops Sharply as Bulls Fail to Overcome $4,280 High, May Resume Upward

27 October 2021 | Updated: 27 October 2021

Highlights
Ethereum price is facing rejection at $4,300
Ether crashes to $3,938

Ethereum ETH) Current Statistics
The current price: $4,009.87
Market Capitalization: $473,212,160,569
Trading Volume: $26,523,339,261
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 27, 2021
Since October 25, Ethereum’s (ETH) price has been fluctuating below the $4,280 resistance. Buyers could not keep the price above the recent high after several attempts. Today, the bulls pushed ETH’s price to the high of $4,300 but were repelled. Ether is now in a downward move as price visits the previous low at $3,870. However, the biggest altcoin is hovering above the $4,000 support at the time of writing. If the market holds above the current support, then the bearish scenario is likely to be invalidated.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Despite the breakdown, the cryptos price is above the moving averages which indicates that prices are likely to rise. Ethereum is at level 56 of the Relative Strength index period 14. It indicates that the crypto is in the uptrend zone and it is above the centerline 50. Ether is above the 25% range of the daily stochastic. The market is in a bullish momentum.

Conclusion
On the 4-hour chart, ETH/USD is in a downward move but the bearish momentum has subsided. Bullish candlesticks are indicating a possible upward move of Ether. Meanwhile, on October 26 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 $3,869.17. From the price action, Ether has fallen to the low of $3,951.27 and it is attempting to resume upward.

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ether Consolidates Below $4,200, Uptrend Likely

24 October 2021 | Updated: 24 October 2021

Highlights
Ethereum price is facing rejection at $4,200
Ether is resuming a fresh uptrend

Ethereum ETH) Current Statistics
The current price: $4,032.75
Market Capitalization: $476,099,086,368
Trading Volume: $14,735,834,907
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 24, 2021
Ethereum’s (ETH) price is in a downward move and it is consolidating below the $4,200 resistance zone. Since October 21, Ethereum has been in a downward move after rejection from the high of $4,370. The bulls have also retested the $4,200 resistance after falling below it. The selling pressure is likely to extend below $4,000. A break below the $4,000 support will further cause the crypto to decline. On the other hand, if the support holds, the biggest altcoin will commence the resumption of an upward move.

ETH/USD – Daily Charts

ETH Technical Indicators Reading
The cryptocurrency has fallen to level 61 of the Relative Strength index period 14. It indicates that the crypto is in the uptrend zone and it is above the centerline 50. The market is likely to resume an upward move. Ether is above the 40% range of the daily stochastic. The market is in a bullish momentum.

Conclusion
On the 4-hour chart, ETH/USD is in a downward move. Buyers have failed to break above $4,200 resistance on three occasions. On each occasion, the market will decline on the downside. ETH price has broken below the 21-day SMA. Meanwhile, on October 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 $3,840.84. From the price action, Ether has fallen to the low of $3,892 before resuming upward.

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ether Resumes a New Uptrend, Rallies Above $4,000 Overhead Resistance

20 October 2021 | Updated: 20 October 2021

Highlights
Ethereum price break above $4,000 resistance zone
Ether will rally to $4,500

Ethereum ETH) Current Statistics
The current price: $4,083.74
Market Capitalization: $481,904,311,256
Trading Volume: $18,827,124,887
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 20, 2021
Since October 15, Ethereum’s (ETH) price has been consolidating below the $4,000 resistance zone. Today, the bulls have broken above the $4,000 resistance zone. The uptrend is likely to continue on the upside. Since September 3, the $4,000 resistance level has not been broken. If buyers are successful, Ethereum will rally to $4,500.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 67 of the Relative Strength index period 14. It indicates that the crypto is in the uptrend zone and it is approaching the overbought region. The altcoin will soon reach the overbought region at level 70. However, ETH/USD is above the 80% range of the daily stochastic. The market is in a bullish momentum and has reached the overbought region. The crypto’s price is still above the moving average as the market resumes upside momentum.

Conclusion
On the 4-hour chart, Ether’s price has broken above the $4,000 resistance zone. Buyers make attempt to sustain the bullish momentum. On October 16, the bulls were repelled at the same resistance level. The biggest altcoin dropped to $3,750 low as bulls bought dips. Meanwhile, on October 16 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Ether will rise to level 1.618 Fibonacci extension or level $4,300.10 .

ETH/USD – 4 Hour Chart

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Ethereum (ETH) Price Analysis: Ether Surges Ahead, Attempts to Break Above the $4,000 High

17 October 2021 | Updated: 17 October 2021

Highlights
Ethereum price rallies to $3,964 high
Ether in an upward move, targets $4,200 high

Ethereum ETH) Current Statistics
The current price: $3,897.10
Market Capitalization: $459,590,834,865
Trading Volume: $15,001,083,967
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 17, 2021
Ethereum’s (ETH) price has continued to rally on the upside. On October 16, Ether rallied to $3,964 but was resisted. Buyers are attempting to break above the $4,000 resistance zone. Ether is consolidating below the $4,000 resistance zone. The upward move is facing rejection at the recent high. On the upside, a break above the resistance will catapult the altcoin to $4,200 high but it will face stiff resistance at the recent high.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 65 of the Relative Strength index period 14. The cryptocurrency is in the bullish trend zone and capable of a further upward move. The biggest altcoin is above the 25% range of the daily stochastic. The market is in a bullish momentum. The crypto’s price is still above the moving averages which suggest further upside.

Conclusion
On the 4-hour chart, Ethereum is in an upward move. Ether rallied to $3,964 but was repelled. Buyers are making another attempt at the resistance zone. Meanwhile, on October 16 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Ether will rise but will reverse at level 1.272 Fibonacci extension or level $4,116.73.

ETH/USD – 4 Hour Chart


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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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  • The Lowest Trading Costs
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  • Award-winning Cryptocurrency trading platform
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  • FCA & Cysec regulated
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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.