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Ethereum News

Ethereum Is In A Bear Market, But Analysts Think It’s A Great Investment

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Ethereum Is In A Bear Market

From a first glance on the altcoin news today, it seems like everyone is bearish on Ethereum as well as its Ether (ETH) token except for one partner at Placeholder named Chris Burniske. As he noted earlier this week, Ethereum is in a bear market but it is also a great long-term investment.

Burniske believes that the oft-cited narrative leading Ether losing its use case is nothing but a speculation. He said that this is not entirely accurate. Instead, he posits that Ether is going through its “first mainstream bear market, just as Bitcoin did in 2014 and 2015.” This is what many best cryptocurrency news sites featured.

Hindsight always provides one with clearer picture of the general trend. Despite the fact that Ethereum is in a bear market, Burniske pointed out that 2014 and 2015 was the optimal risk-reward period for investors who seeked Bitcoin exposure. While all of this may sound encouraging to some, the analyst said that his optimism is much against the grain of current investor consensus and the plethora of bearish signs exhibited on multiple time frames.

Meanwhile, Ethereum and Litecoin both turned bullish in September 2018 and foreshadowed what was to come from Bitcoin. At the time, BTC was locked at $6,500 and Ethereum’s bull run then came right in time with Bitcoin recording gains. At press time, the coming altcoin news show that Ethereum is in a bear market and that its bull run is over.

Some of the factors that could indicate a new run for ETH include the selling volume which is outpacing the buying volume on the weekly timeframe and the ETH/USD pair is fast approaching a weekly support at $170. Below this is a drop to $100 and then $80, both of which would be unappetising for investors.

It is clear that while Ethereum is in a bear market, traders are placing their long-term bets on Bitcoin (instead of Ether). In the past, however, Bitcoin consolidation after strong rallies also led to traders transitioning into altcoins. Now, it seems like these investors are choosing to take shelter in stablecoins instead the Bitcoin price going south.

All in all, the ETH supporters are not losing hope – and Chris Burniske is definitely one of them. Ether is teetering on the precipice of uncertainty with a bearish bias – but that may not be for long.

 

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Ethereum News

Ethereum’s Network Demand Is High Without Transferring ETH Tokens

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ethereum's network demand
Ethereum’s network demand is increasing over the past few days but now it seems that it comes more than just transferring ETH tokens. Let’s find out more in the coming altcoin news below. A large part of Ethereum’s network demand is due to the activity of smart contracts. The most active smart contract on the ethereum network since September 15th this year is one of the growing ETH Ponzi scheme. This contract took the lead over the past few days as the social media users noted. The scheme is gathering traction and more users are now sending in ETH for a short opportunity window in hope to get high returns. The Ponzi scheme contract burned more than 27 percent of all gas just a day ago. The second-largest smart contract ‘’Tether USD’’ issues and transfers USDT coins on the Ethereum network and reached a supply of 1.9 billion USDT. The Tether contract usually burns up to 30 percent of all gas on the Ethereum network and takes up more computational power than the most active distributed apps. The usage rate of more than 30 percent is extremely rare and usually means that the network could be overloaded with huge transaction prices. Over the past month, the fees to send some ETH tokens or to use the Ethereum network kept increasing and reached an average of $0.27. The price is still low but the Tether smart contract means that some of the users will have to wait for their transactions to be included in the block. Ethereum’s network strength is also very weak. The Ethereum Virtual Machine is a distributed computer which works on the open market principle so that anyone can pay for the computation can use the network. Ethereum is censorship-free which means that ETH-based entities can pay for the gas. So when a Ponzi scheme happens, the constant inflows of ETH mean the project has no issues and paying for the fast computation. The presence of the smart contracts also hampers the work of the smaller dapps and makes it hard for the developers to launch their projects. As per the latest cryptocurrency news, ETH is trading at $194 and is on track to reach the $200 level.
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Ethereum News

Ethereum Price Flashing: Can ETH Surge To A New Yearly High?

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ethereum price flashing
The price of Ethereum is featured in our coming altcoin news. Over the past two weeks, Ether (ETH) has been a frequent topic of discussion. In the past day or two, the Ethereum price flashing green was another topic for analysts - all wondering if the altcoin has finished its retrace from a 2019 high at $364 or it has potential to rise even more. This week, Ether settled at $170. Currently, the latest cryptocurrency news and updates feature the Ethereum price flashing at around $189 which marks a significant increase. On the day, ETH managed to add around 4% to its rise, proving that a bullish momentum may finally be building up. Even though the news are not as exciting as they sound and not as convincing for a new bull run or a trend reversal, it is true that Ethereum can trigger many altcoins to grow now. In fact, the past 24 hours volume indicates that ETH has already pulled a lot of coins upwards. If Ether bottoms and reverses its course, however, the altcoins will also follow its trend. Traders will now remember that starting from December 2018, Ether and Litecoin kickstarted a great year and initiated a rally which was dubbed as the "altseason" in the news. This is where all the excitement of the Ethereum price flashing went and why everyone is seeing behind the significant rise and to a potential rally. The daily chart also shows that ETH managed to pop above its descending wedge after a double bottom with $167.50 support. On a large scale, it is clear that Ether is attempting to reverse the trend and a move above $196 is now set to be crucial for a new high. When it comes to the purchasing volume, many best cryptocurrency news sites report that it is less than fantastic. Also, it is something that traders should keep an eye on. Some analysts are even attributing Ether's rise to the network's demand skyrocketing over the past month. The weekly Moving Average Convergence Divergence (MACD) histogram also shows positive momentum during the Ethereum price flashing scenario - but the MACD has yet to pull above the signal line.
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Ethereum News

Ethereum Network Demand Skyrockets, But What About The Price?

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Ethereum Network
Ethereum network demand is increasing dramatically after the altcoin market in general responded bullishly to the consolidation of the number one cryptocurrency as we reported earlier in the altcoin news. This momentum has sent it up towards the $185 region which has been a decent level of support for the cryptocurrency earlier. The analysts noted that the Ethereum network demand is expressing significant increase and the network is strengthening which may be a good sign for the near-term price action for the ETH token. At that time of writing, Ethereum is trading over 3 percent from its previous price, reaching $185 which marks a strong recovery from the recent lows of more than $170 that were set at the beginning of the month. ETH managed to find support around this price level in the past few days and weeks and now it is able to surge and underline the bullishness that could be extended in the upcoming day.s The popular crypto trader Josh Olszewics posted on Twitter about the Ethereum price action saying ‘’here’s your $ETH hopium’’ and pointed on the charts that show a near short-term long target at $320. This target was set just when Oszewicz said that all of the indicators are resetting for BTC which in addition to its volume and volatility, it could even reach a ‘’face rip’’ move that will be imminent:
 “Indicators/oscillators all resetting or reset on $BTC. Volume basically dead, volatility plummeting. OI nearing infinity on bmex and dbit. Face rip move coming soon.’’
Here it is important to mention Bitcoin’s hash rate which many analysts saw it as a sign of its network strength which recently surged to all-time highs. Ethereum’s network is also showing signs of strength. The partner at Placeholder Chris Burniske explained that the recent surge in the gas usage of ETH signals that the demand for Ethereum network is high at the moment:
 “This can be read as: demand for #Ethereum’s world computer is at ATH.’’
As per the latest cryptocurrency news reports, the fundamental robustness could mean that the significantly further gains are imminent and the network utility may be followed by a surge in the price of the cryptocurrency.
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Ethereum News

Ethereum (ETH) Price Analysis: Reaching $200 Soon?

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Ethereum ETH Price Analysis
Ethereum (ETH) price analysis shows that there is a promising increase of more than 4% which allowed the cryptocurrency to reach $183 as per the altcoin news and analysis which we have today. Over the past four days, the ETH altcoin surged by 10 percent and managed to reach the 0.176 BTC price. If it Ethereum (ETH) manages to continue the increase against Bitcoin, we could see ETH slowly closing down higher above $200. Ethereum still remains the second-largest cryptocurrency with a market cap of more than $19.58 billion. As per the Ethereum (ETH) price analysis, we can see that the altcoin started to climb back slowly above the $170 level and it also reached the resistance at $185 but is stalling ever since. Looking from above, the nearest level of resistance is standing directly at $185 and above this, there could be a higher resistance found at the previous support trend line and then it got close to $194. If the buyers manage to push the price even further, the resistance can be expected at $200 and $210. The resistance between $210 and $213 is bolstered by both the 100-days EMA and the 200-Days EMA. Looking from below, the nearest level of support is standing close to $171 and beneath this, the support can be found at $165, $158, $148. The trading volume is also steady with some signs that it may increase in the near future. The RSI indicator also penetrated above the 50 levels and stayed below for the biggest part of the month. If the indicator continues to climb higher, we could see ETH making its way above $200. Looking at the ETH/BTC one day charts we can see that Ethereum showed a very strong sign against Bitcoin after it moved away from the support at 0.0165 BTC. ETH increased by 10 percent since then and has also recently met the resistance at 0.0176 BTC. The nearest level of resistance is now standing at 0.1790 BTC and 0.018 BTC. Above this level, the resistance is found at 0.01918 BTC so if the buyers continue to drive the price higher, the resistance can be expected at 0.021 BTC and 0.02230 BTC and 0.0025 BTC. The nearest level of support is now currently at 0.01720 BTC and beneath this, the support will be found at 0.017 BTC. The trading volume is still low but there is some resurgence over the past few days as we can see in the latest cryptocurrency news analysis.
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