Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Cryptopedia
  • Advertise
  • Submit PR
CLOSE

Ethereum News

Analyst Sets ETH Target At $90 As Altcoins Stumble

Published

on

staking for ethereum

Ethereum is one of the main altcoins to look out for in this week’s altcoin news – mostly because of its weak trend over the past couple of days. Bitcoin’s recent downtrend has led many to believe that altcoins are going down too, and one analyst sets ETH target at $90 now.

The truth is, ETH has had a bearish price action as of lately, which is why some analysts expect it to drop to lower levels in the coming days and weeks. One investor believes that the biggest altcoin out there will drop as low as $90.

This puts the fear in the big picture. While the analyst sets ETH target at $90, many are unsure what to do – whether to buy more of ETH or sell what they have now. At the time of writing, Ethereum is trading down just over 10% at a current price of $169, down from $187 which was its daily high two days ago. The latest cryptocurrency news also show that the drop of ETH coincided with the sell-off that sent Bitcoin from $10,300 highs to $9,300 lows – making it lose almost $1,000 in a single day.

According to one of the most popular technical analysts, DonAlt, ETH is currently trading down just over 3%. The analyst sets ETH target with further drops, agreeing that Ethereum could move in a downward direction soon.

“$ETH: Just doesn’t look like it’s time just yet. I’d suspect a broken 270-day range to lead to a bigger move than the current one. The moment ETH/BTC moves back above my box /back in the trading range I’ll be more inclined to believe the bottom is in. Until then expecting lower,” DonAlt noted in a recent tweet, which went viral on many best cryptocurrency news sites.

A Bitcoin bull named Max Keiser gave contrast to Don Alt and his tweet, responding and stating that the most dominant cryptocurrency will soon plummet as $90.

Even though some investors think that it is quite unrealistic for ETH to suddenly drop to $90 and lose more than half of its value, it is important to remember that the Ethereum 2019 lows are currently set around $100, which is a stone throw away from Keiser’s target.

If BTC incurs a greater dominance over the next period, it is possible that altcoins will revisit or break below their 2019 lows.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Ethereum News

Ethereum Manages ‘’Insane’’ Number Of Transfers On Network

Published

on

By

ethereum manages
Ethereum manages an insane amount of transfers on its network and the second crypto by market cap also improved the ETH DApp tracking instruments which show the real transaction volume that could turn out to be much bigger than previously. In our ETH news today, we take a closer look at the ethereum developments.Ethereum manages to remain unclogged despite the huge amount of ERC-21 token transfers and the network has also handled more than 3.7 million Ethereum ERC-721 transfers on November 17th alone which is about four times as high than the previous all-time high according to the crypto analytics company Coin Metrics.The company explained that the huge spike in ERC-721 transactions comes from an Ethereum-based digital collectibles game dubbed Gods Unchained. The transfers did not obstruct the blockchain either and the blocks didn’t even surpass about 85 percent of their capacity since mid-October. The company also clarified that this is mainly because of the hundreds of transfers in one single transaction. Another popular game CryptoKitties, had about 4,7 million transfers during its existence. The network congestion has been one of the biggest issues for Ethereum in the past and one of the issues that is a key catalyst for the transition to the Proof-of-Stake consensus algorithm based Ethereum 2.0.In some of the other news, we can see that the dapp data aggregator and analytics company announced the implementation of the ERC-20 token tracking for all of the Ethereum dapps. This tool will help discover more of the USD 73 million that were unaccounted 7-day rolling average transaction volume. Previously, the volume of ETH was being tracked and recorded at 27 million weekly transaction volumes in the same period. Including the ERC-20 token transaction, the total 7-day volume skyrocketed to over USD 100 million worth of value per week.This will increase the transparency of the entire network and of the value creation on the Ethereum blockchain. This will also improve the decentralized exchanges that support ETH-based tokens trading and the fast-growing DeFi category as per Skirimantas Januskas, the CEO and co-founder of DappRAdar. The company said that this feature will also be available for EOS and that the plans include tolling it out on all other protocols in the near future.
`
Continue Reading

Ethereum News

Ethereum Four-Hour Time Frame Shows Bearish Trading Outlook

Published

on

By

ethereum four-hour time frame
The Ethereum four-hour time frame shows that the altcoin is bearish in a short-term and medium-term trading outlook as we are about to see in the latest Ethereum news today.The ethereum four-hour time frame shows that a head and shoulders pattern has been initiated and the daily time frame shows a bullish inverted head and shoulders pattern remains in the game. The decline in the broader crypto market has put Ethereum is an extremely vulnerable technical position and the ETH/USD pair is moving below the critical technical support. The altcoin has been struggling to rally away from the previous strong $180 support level after sharply reversing from the $1955 resistance level earlier this month.Right now, the trading level is lower by less than 3.5 percent on a monthly basis but the ETH/USD pair is still trading around 35 percent higher since the start of the year. The $180 level is now the neckline of a bearish head and shoulders pattern which has a downside projection that could overtake the ETH/USD pair towards the $160 support level. The short-term technical indicators are bearish for the pair which the MACD indicator shows on the four-hour time frame signaling further losses in the near term.The daily time frame shows there is a bullish inverted head and shoulders pattern that is still valid and despite the recent decline, the buyers have to defend the $160 level to stop the pattern from being validating. The cryptocurrency has broken below the 50-day moving average and increased the medium-term selling pressure on the altcoin. According to the sentiment data, the short-term sentiment towards Ethereum is quite bearish at 40% while the overall long-term sentiment towards the cryptocurrency is also bearish at 36%.The four-hour time frame shows that the key technical resistance is located at the $180 and $194 level and the buyers have to rally the price above the $194 level in order to invalidate the bearish head and shoulders pattern. The Key technical resistance is above the $194 levels which are found at the $220 and $240 levels. The four-hour time frame is showing that the pair has a very strong short-term technical support around the $175 and $169. The key medium-term technical support for the pair is located at the $160.
`
Continue Reading

Ethereum News

Ethereum’s USDT On-Chain Volumes Breach The $100 Billion Level

Published

on

By

Ethereum's USDT
Ethereum’s USDT on-chain volumes are increasing and Tether seems to be boosting the momentum on the ETH network and could even form a new flow to and from exchanges. While the supply of the tokens remains without change, the velocity of the coins is also increasing as the ethereum network flows so let’s read more in the Ethereum’s today’s news.The total USDT transfer volumes on the ETH network just moved past the $100 billion for the first time which is a 6,000% increase since the start of 2019 according to Glass Node. The Omni-layer USDT is slowing down and is being exchanged to the ERC-20 kind once it goes through some of the leading crypto-to-crypto exchanges. At this time, USDT is much harder to track despite the active transactions.The USDT smart contract is now spending up to 2,000 ETH per month based on the ETGGasStation statistics and the active contract burn per day is about 10 percent of all gas which is an increase to above 36% during the periods of heightened activity. In the past day, BTC was sold and volumes reached above the $18 billion which is the ERC-20 version doubled the volume in the past 24 hours. There are also 855 million USDT on the TRON Network and the total supply of USDT has been a constant for some months now which is a little over 4.108 billion coins.The ratio of the coins on different networks and the flows between the exchanges mean that the USDT now has another effect on the price of the leading cryptocurrency. More than 76 percent of all of the BTC volume against the USDT volume, during the recent-sell off, each coin flew through the exchanges about six times in 24 hours. However, over the past days, there was no ‘’whale’’ sized transactions of USDT and the transfers vary depending on trading conditions. There were some days that the volumes spike and dropped but often the significant price moves were predicted.Ethereum’s USDT volume increase means that the network is even more strategic now for the crypto space. The latest upgrades and potential switch to staking can also affect the source of liquidity.
`
Continue Reading

Bitcoin News

LocalCryptos Adds Support For Bitcoin (BTC) And Ether (ETH)

Published

on

By

localcryptos adds
One of the largest competitors of the P2P Bitcoin (BTC) exchange LocalBitcoins has taken more of its market share as the Finnish company seeks regulatory compliance. The latest cryptocurrency news show that LocalCryptos adds support for Bitcoin as well as Ethereum.In what the company described as a pivotal step of adding support for both cryptocurrencies, LocalCryptos (formerly LocalEthereum) announced the following in a blog post:
“The platform is a one-stop shop for fiat-to-crypto ramps worldwide, beginning with BTC and ETH." Later on, the blog post describes this as a “large milestone.”
After LocalCryptos adds support for BTC and ETH, the company said that in the future even more cryptocurrencies will join its offering.
“LocalCryptos will list some of the most popular Ethereum-based tokens over time. We’ll develop a new smart contract to handle ERC20s, and, in the more distant future, ERC721s,” the exchange said.
Meanwhile, what's interesting is that this move comes roughly a week after LocalBitcoins announced its registration with regulators in the home country of Finland. This is part of a multi-year scheme to formalize its compliance - we can now see that LocalBitcoins is now an official virtual currency provider in the eyes of the Finnish Financial Supervisory Authority or FIN-FSA.Executives have so far phased out a lot of ways of trading on LocalBitcoins without revealing the identity of the trader. Cash trades are now banned and ID submission is obligatory. By contrast, LocalCryptos adds support for BTC and ETH and stays away from such requirements, operating as a non-custodial resource under which no financial liability is taken.Furthermore, the setup will allow the platform to retain features which LocalBitcoin does not have. When cash trades disappeared, LocalCryptos made the most of the decision and saw that it is a major PR opportunity on social media.There are other operators in the space which also saw a surge in popularity during the change which occurred in June this year.Meanwhile, the latest Bitcoin and Ethereum news show that both of the cryptocurrencies are vulnerable in today's trading. Ethereum (ETH) is trading at a price of $177 in a dump of 4.10% while Bitcoin (BTC) has lost 4.52% and is now below $8,200.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Analyst Sets ETH Target At $90 As Altcoins Stumble

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Analyst Sets ETH Target At $90 As Altcoins Stumble

ADVERTISEMENT

oasistrade banner

Join us on Facebook

ADVERTISEMENT

300 250 - Analyst Sets ETH Target At $90 As Altcoins Stumble

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

december

No Events

FO710FC3F2305 1 - Analyst Sets ETH Target At $90 As Altcoins Stumble

ADVERTISEMENT

300 600 3 - Analyst Sets ETH Target At $90 As Altcoins Stumble

Trending Worldwide

Show Buttons
Hide Buttons
X
X