Here’s Why Analysts Think That Ethereum’s Uptrend Remains on Track

Here’s Why Analysts Think That Ethereum’s Uptrend Remains on Track
фото показано с : bitcoinist.com

2020-10-26 04:00

Ethereum has stalled after hitting the pivotal highs of $420 earlier this week. The coin now trades for $408, failing to break higher even as Bitcoin flirts with yet another breakout ahead of the weekly close.

Despite the mixed price action, analysts think ETH remains in bullish standing.

Ethereum Analysts Thinks the Uptrend Is Intact

One crypto-asset analyst shared the chart below on October 25th. It shows that Ethereum remains in a consolidation below a pivot level. Even still, the uptrend still seems to be intact as ETH holds the $400 support region:

“We got the move everyone wanted. Now price meets resistance of Sine upper band. Today’s candle shows already a small lower shadow. Some retest around 396/400 might be necessary to break above the band like end of July, but uptrend on track!”

Chart of ETH's price action over the past few weeks with an analysis by crypto trader Trading Cyclist (@FullGasTrader on Twitter). Source: ETHUSD from TradingView.com

This was echoed by another analyst just recently as Bitcoinist reported previously. This other commentator noted that the coin is currently about to print another leg higher as it consolidates between $405 and $420.

Chart of ETH's price action over the past few weeks with an analysis by crypto trader Steve (@Thetradingtramp on Twitter). Source: ETHUSD from TradingView.com ETH2 Blow Dealt

One of Ethereum’s crucial bullish fundamental catalysts may be put on hold for now, though.

As first reported by CoinDesk, Ethereum Foundation researcher Danny Ryan commented that the ETH2 deposit contract may be pushed back due to audits.

The deposit contract is the contract that will link the original Ethereum chain to the 2.0 chain, which will have staking enabled.

Commenting on the Bankless podcast, hosted by Ryan Sean Adams and David Hoffman, Ryan commented on the matter:

“This library is critical to creating keys, signing messages. Critical, in early phases, [means] that if you use this library, they need to be secure; if you use it to generate your wallets, it needs to have good randomness; and if you are signing your deposits which have a signature associated, it needs to be correct,” Ryan said. “Given that how critical this library is, and given that, if there is a fundamental error in this library we could f*ck some sh*t up in terms of genesis deposits, that is the blocker,” he said.

Other Ethereum researchers and developers think there will be a delay between the publishing of the deposit contract and the actual launch of the chain.

Featured Image from Shutterstock Price tags: ethusd, ethbtc Charts from TradingView.com Here's Why Analysts Think That Ethereum's Uptrend Remains on Track

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3106.12 (-0.11%)
Объем 24H $11.648b
Изменеия 24h: 0.41 %, 7d: 7.03 %
Cегодня L: $3088.33 - H: $3144.08
Капитализация $373.114b Rank 2
Цена в час новости $ 388.37 (699.78%)

ethereum break trades higher failing even 408

Источник: bitcoinist.com

ethereum break → Результатов: 126


Фото:

Ethereum Isn’t Clear of Danger Yet, But Analysts are Eyeing a Move to $500

Ethereum has seen a sharp decline over the past several hours that has caused it to break back below $400 This movement came about in tandem with a similar decline seen by Bitcoin and has sent shockwaves throughout the aggregated crypto market Analysts are now noting that ETH may be poised to see further near-term weakness, but its bull case remains strong One trader is noting that Ethereum has yet to break below a crucial […]

2020-8-26 23:00


Фото:

Ethereum Price Analysis: Is it ‘Break’ Time?

It’s been a fairly uneventful weekend for Ethereum (ETH). Bitcoin’s inability to break above $4,000 appears to place a damper of momentum within the wider market. A break seems imminent — but in which direction?  One-Hour Chart Ethereum is steadily consolidating into a tighter range, notching lower highs and seemingly on the verge of dropping below the 12 and 26 EMA on the 4hr chart.

2019-3-11 11:00


Фото:

New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic.

2018-9-15 01:22


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation

The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.