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Ethereum (ETH) Price Analysis — Can Leading Altcoin Hold Above $230?

Price Predictions
Thu, 07/02/2020 - 11:15
Denys Serhiichuk
How long will the sideways trend of Ethereum (ETH) last?
Ethereum (ETH) Price Analysis — Can Leading Altcoin Hold Above $230?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market is trading completely differently today. While Bitcoin Cash (BCH) and Litecoin (LTC) have remained in the red zone, Cardano (ADA) has rocketed 12% over the past day.

Top 10 coins by Coinstat
Top 10 coins by Coinstats

The rise of altcoins has affected the market capitalization, which has increased over the past 24 hours around $2 Bln and is now $259.2 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $25,677,819,096

  • Price: $230.11

  • Volume (24h): $6,354,460,871

  • Change (24h): 0.38%

The data is relevant at press time.

ETH/USD: Can Ethereum rise faster while Bitcoin trades sideways?

Yesterday, in the morning, the price of Ethereum (ETH) consolidated under the two-hour EMA55. In the afternoon, the volume of purchases increased and the pair broke through the level of average prices, and by the end of the day, it came close to the resistance at $233. The daily maximum is set at around $230.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

During the night, Ethereum (ETH) rolled back a bit, but if buyers can break above the resistance of $233, then the pair may recover to the area of the POC line ($243.25).

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, nothing crucial has changed so far. Ethereum (ETH) keeps trading within the rising channel, aiming at $235. Moreover, a Triangle figure has been formed, which confirms the ongoing bullish dominace. Last but not least, there is high liquidity in the $230-$235 zone.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the daily time frame, the sideways trading has continued as there is no dominance from neither bulls nor bears. What is more, the trading volume has remained at the same level. As such, traders can expect Ethereum (ETH) to shift into trading in the yellow range between $230 and $240 soon.

Ethereum is trading at $227.79 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.