Is now a good time to buy Ethereum?

Is now a good time to buy Ethereum?
фото показано с : invezz.com

2021-1-16 22:33

Ethereum’s (ETH) price is experiencing a pullback towards the $1,103 support level as a result of Bitcoin’s recent dip. But is the second-largest cryptocurrency by market cap a good buy at the moment?

Fundamental analysis: whales buying discounted Ether

Ethereum’s current fundamental outlook is considered as fairly bullish, especially with more analysts coming out with multi-thousand dollar price projections. On top of that, Ethereum’s use as a platform has expanded greatly, and new well thought out projects are coming out to the public more often than before.

Recent analyses have shown that, as long as Ether stays above the $908mark, the cryptocurrency will remain bullish. Additionally, institutional investors and ETH “whales” are taking price corrections such as the most recent one to accumulate more Ether at a discounted price.

ETH managed to lost 8.33% week-over-week. BTC scored a loss of 6.40% in the same period, slightly outperforming ETH in the past week. At the time of writing, ETH is trading for $1,153, representing a price increase of 83.58% when compared to the previous month’s value. Ethereum is the second-largest cryptocurrency by market cap, with a current total market value of $130.2 billion.

ETH/USD technical analysis: Ethereum’s downside is well-guarded

Ethereum (ETH) has managed to find strong resistance in the $908 support level and the 21-day exponential moving average, which prompted another leg up caused by the bulls buying ETH at a discount. The past 24 hours, however, were not so bullish as Bitcoin managed to retrace below $36,000 and pull Ether with it.

ETH in currently in a very tight area, bounded by the 23.6% Fib retracement of $1,103 to the downside and $1,250 to the upside. Extended moves to the upside will bring the $1,350 level into play, while an extended move to the downside will have to contest the 21-day moving average as well as the $955 level.

ETH/USD daily chart

Ethereum’s RSI on the daily time-frame was deep into the overbought territory for quite some time, but retreated from it during the crypto market pullback. Its RSI currently on the verge of entering overbought territory again,  with a current value of 63.75.

ETH/USD 1-hour chart

ETH’s hourly time-frame shows us how the cryptocurrency entered a retracement mode after failing to push above $1,250 with confidence. The price descent was quick and strong, and even brought ETH’s price to a low of $1,065. However, bulls managed to pick up the price and keep the 23.6% Fib retracement level relevant. Ethereum has a tough job of breaking the $1,250 level in the short term. However, if it manages to do it, we may see a quick rise in price and a contestation of the $1,350 level.

The post Is now a good time to buy Ethereum? appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3674.56 (-0.48%)
Объем 24H $36.53b
Изменеия 24h: 17.68 %, 7d: 25.29 %
Cегодня L: $3496.53 - H: $3714.42
Капитализация $441.415b Rank 2
Цена в час новости $ 1213.24 (202.87%)

ethereum buy good time fundamental fairly considered

Источник: invezz.com

ethereum buy → Результатов: 126


ETH Investment 101: Is it a Good Idea to Buy Ethereum Now?

In the ever-evolving world of cryptocurrencies, Ethereum (ETH) has unarguably been one of the most promising assets since its launch in 2015. Second, only to Bitcoin in terms of market cap (and perhaps popularity too), Ethereum has the distinctive advantage of being the foundational pillar of many fast-evolving technologies such as smart contracts and DeFi, … Continued The post ETH Investment 101: Is it a Good Idea to Buy Ethereum Now? appeared first on BeInCrypto.

2020-12-8 14:06


Top Custodial Altcoin Multi Wallets For Beginners

Bitcoin is no longer the only steady choice for cryptocurrency users. A dozen altcoins have shown themselves stable and reliable when the market goes red. But even after conducting a detailed study of the top altcoins like Ethereum, Litecoin, Dogecoin, Tether and Dash, how does one buy and store them safely? Managing several digital currencies […] The post Top Custodial Altcoin Multi Wallets For Beginners appeared first on NullTX.

2020-4-28 20:00


Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally

Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential. It... The post appeared first on NewsBTC.

2020-1-13 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru