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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, ETC: Price Analysis, August 17

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The cryptocurrency market capitalization has risen above the $215 billion mark once again. A resilient Bitcoin was the main reason for the pullback. If the leader holds ground, the investors gain confidence and start entering the markets.

Crypto hedge fund Pantera Capital is looking to raise $175 million for its third venture fund. They had previously raised $13 million in 2013 for the first fund and $25 million for the second. This shows that the demand for cryptocurrencies and related investments is still alive.

While the decline was purportedly caused by the rejection of the ETF proposal by the SEC, some experts still hope to see a Bitcoin ETF in the near future. Others, however, are not keen on Wall Street money entering the crypto world. They believe that Wall-Street managed money will cause more problems.

Cryptocurrencies are currently pulling back from their lows. So, should the traders start buying at these levels or wait? Let’s find out.


Bitcoin continues to trade within the range of $5,900.06-$6,617.5. Currently, the bulls are making another attempt to break out of this range. Above the range, the virtual currency can again face resistance at the 20-day EMA, at the downtrend line of the descending triangle and at the 50-day SMA.


For the past seven days, the bears have repeatedly pushed prices down from the $6,617.5 mark. We believe that if the bulls finally scale it, the momentum will carry it above the 20-day EMA and the downtrend line of the descending triangle.

Therefore, we retain the buy recommendation provided in the previous analysis.

Our assumption of a bull move will be invalidated if the BTC/USD pair breaks down of $5,900. Another possibility is that the price remains inside the range for a few more days, forming a bottom.

As prices are in a range, false breakouts are possible. Hence, we have suggested buying only if we find the price holding for four hours. If prices retreat following a breakout and show weakness, the long positions should not be taken.

As always, traders should trail the stops higher if the position moves in their favor.  


Ethereum is struggling to stay above the $300 mark. For the past two days, it has retreated from this level.


Both the moving averages are sloping down and the RSI is still in the oversold zone. This shows that the bears still have an upper hand. The pullback will face selling pressure at the 20-day EMA, which is close to the previous support of $358 that will now act as a resistance.

If the ETH/USD pair sustains above $358 for three days, it will signal a probable change in trend. We shall wait for a new buy setup to form before suggesting any long positions on it.


Ripple was deeply oversold. It is currently in a pullback that can carry it to the downtrend line 2 where we expect a strong resistance.


The XRP/USD pair is one the worst performers among the top cryptocurrencies. Hence, we don’t advise buying the first pullback from the lows. The trend remains bearish with both the moving averages still sloping down.

It has a slew of overhead resistances that will act as a hurdle, attracting selling. Hence, it is suitable only for the very short-term traders who can enter and exit positions quickly.

The swing traders or long-term investors should wait for it to complete a bottoming pattern and then buy it. Until then, it is best to stay with the outperformers.


After failing to climb above the $537.8221 level for the past three days, Bitcoin Cash is again attempting to scale the overhead resistance and the RSI is trying to exit the oversold zone.


On the upside, the bulls will face strong resistance at the 20-day EMA. After this is crossed, the 50-day SMA and the downtrend line will act as the next roadblock.

On the downside, if the BCH/USD pair plunges below $473.9060, it can slide to $400. We will wait for the price to breakout and sustain above both the moving averages before turning positive.

Currently, we don’t find any buy setup, hence, we are not proposing any trade on it.


EOS has finally made a move today, after struggling to move up for the past two days. However, both the moving averages are sloping down and the RSI is still in the negative territory, which shows that the sellers have an upper hand.


Any recovery will face resistance at the 20-day EMA and above that at the 50-day SMA. The bulls have not broken out of the 50-day SMA since 09 June. Hence, a breakout of it will indicate strength.

In April of this year, the EOS/USD pair picked up momentum only after breaking out of the 50-day SMA. Hence, we might suggest long positions after the price sustains above the 50-day SMA. If a new setup develops before that, we shall consider it.


Stellar has extended its stay inside the range of $0.184-$0.25. The pullback on August 13 and August 15, both faced selling at the 20-day EMA.


Previously, in mid-April and mid-July of this year, the XLM/USD pair picked up momentum after it closed (UTC time frame) above the 20-day EMA.

Currently, the 50-day SMA is flat and the 20-day EMA is sloping down. If the bulls break out of $0.25, the probability of a rally to the downtrend line at $0.32 increases. Therefore, we retain our buy recommendation provided in the previous analysis.


The attempt to pullback on August 18 met with selling at higher levels but Litecoin has maintained above the $54 levels for the past two days.


The 20-day EMA will be the first hurdle, above which, the pullback can extend to $80. The 50-day SMA and the downtrend line, both are close to $80, hence, we anticipate the bears to strongly defend this level.

The RSI is trying to exit the oversold territory, which is a positive sign. All these indications point to a corrective rally, but we don’t find any reliable buy setups, hence, we are not recommending a trade on the LTC/USD pair.


Cardano is struggling to bounce off the lows. This shows that the bulls are in no hurry to buy even at these low levels.


On the upside, the zone between $0.111843-$0.13 will act as a stiff resistance. The 20-day EMA is sloping down but the 50-day SMA is flattening out. This shows that the ADA/USD pair might enter into a consolidation for the next few days.

If prices sustain above $0.111843, it shows that the selling pressure has reduced. We shall wait for a new buy setup to form before recommending a trade on it.


Monero has pulled back for the past three days and is close to the 20-day EMA where it might face resistance.


If the bulls scale above the 20-day EMA, the recovery can continue till the $120 mark. The long-term downtrend line is also close to $120; hence, we anticipate selling at this level.

The next decline to the $76.074 mark will confirm whether a bottom has been made or is the current pullback only a bear market rally.

Currently, we don’t have any bullish pattern on the XMR/USD pair, hence, we suggest traders wait for a few days.


Ethereum Classic has found a place in our analysis by taking the tenth spot. While its price has not risen, it has declined less, compared to some other cryptocurrencies.


The ETC/USD pair has been holding above the $13 level since April of this year. While the bears broke below this support on August 13, prices have quickly bounced back, after taking support close to the $9.5 mark.

This shows that the buyers are scooping up the digital currency on sharp dips. The 20-day EMA is sloping down but the 50-day SMA has been flat since July. This shows that the virtual currency might remain range bound between $13 and the downtrend line.

We don’t find a strong buy setup, hence, we are not recommending a trade on it.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Coinbase Index Fund Adds ETC, Minimizes Fee To Charm Investors

The market has tumbled by over 5%, but this has not stopped the development of cryptocurrency products from moving forward. As Ethereum World News reported previously, the Coinbase Index Fund was launched in mid-June, opening its doors for accredited investors willing to allocate a minimum of $250,000 to up to $20 million to this fund.

The fund works as follows — the assets supported by the fund are weighted by market capitalization and then added to the product as such. So an investor who invests $1 million in the fund today would get $720,000 of Bitcoin, $190,000 of Ethereum, $20,000 of Litecoin, $60,000 of Bitcoin Cash and $10,000 of Ethereum Classic.

However, upon the release of the institutional-focused products, some investors expressed worries about the fees and lack of support for a wide range of crypto assets. But as a Medium post from Coinbase Asset Management alludes to, these worries are being addressed with two new improvements that will be implemented into the firm’s in-house index fund.

Coinbase’s Bid To Attract Investors

Firstly, the premier cryptocurrency platform revealed that it would be reducing its management fee for the Coinbase Index Fund to 1% annually. This is a hefty 50% reduction in fees as Reuben Bramanathan, the Product Lead at Coinbase Asset Management, alluded to in the following comment:

“We’re pleased to announce that we are reducing the annual management fee for Coinbase Index Fund from 2% to 1% for all new and existing investors.”

The Coinbase executive went on to explain the reasoning behind this reduction, noting that this move was made to “attract investors who are familiar with lower-fee index funds in other asset classes.” Hopefully, this decrease to a bare minimum fee should entice institutional investors to invest into this flowering asset class, which may be needed in a today’s bearish market. This just might be a primary catalyst that may bring vast amounts of institutional interest into this market, driving adoption, innovation, and prices to new all-time highs.

Secondly, the Coinbase Index has been rebalanced to include Ethereum Classic (ETC) to account for last week’s listing of ETC on Coinbase’s array of products. This move was not unexpected, as a post from the cryptocurrency giant mentioned ETC support for the index fund. Along with announcing investor “exposure” to ETC, Bramanathan noted that the fund will continue to add assets moving forward, including the five cryptocurrencies (Cardano, Basic Attention Token, Stellar Lumens, ZCash, 0x) mentioned in a previous announcement.

This is just another move that brings validation to Ethereum Classic, which has been mentioned in headlines all across the industry as of late. Over the past weeks, ETC/USD support has been added to Coinbase as aforementioned, Robinhood and Bittrex, which will only increase the amount of fiat inflow this asset sees in the future.

Many are hopeful for the success of this product, as many believe that an influx of institutional interest can right the sinking ship that is the current cryptocurrency market.

Photo by Samson Duborg-Rankin on Unsplash


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Bittrex To Add Fiat Support For Ethereum Classic (ETC) and XRP

Bittrex Introduces Plan To Add ETC/USD and XRP/USD Trading Pairs

On Wednesday, Bittrex, one of the foremost exchanges in the cryptosphere, announced that it would be “rolling out more USD (trading pairs).” This news comes after the exchange’s move to begin offering fiat support, which many community members saw as a long time coming for such an influential exchange.

The Seattle-based startup added that this recent announcement is in-line with its so-called “phased approach” to fiat support, whereas Bittrex adds more markets (trading pairs) and customers over time rather than all at once, which may help to reduce stress on Bittrex employees and systems.

Explaining the reasoning behind the addition of USD markets, Bittrex’s communications team wrote:

“We’re going to continue adding tokens to our USD markets, providing our customers even more convenient, fast and secure trading options as well as access to some of the world’s most innovative blockchain projects.”

As well, it was added that the Bittrex team sees this as a step towards the growing the adoption and acceptance of blockchain technologies all across the world.

In the aforementioned post, it was added that Bittrex will be adding Ethereum Classic and XRP support by August 20th, with these two additions joining the company’s exclusive lineup of four other fiat-supported cryptos, which are BTC, ETH, USDT, and TUSD.

With this move, Bittrex will become one of the first exchanges to support a USD/XRP pair, which many see as an ambitious move, as it remains to be seen whether XRP is classified as a security by U.S. regulatory bodies.

For now, not all users will be able to buy these cryptos with fiat, as Bittrex has only enabled this new feature for customers “who reside in eligible states and qualified international regions” and who hold the required documental prerequisites. Bittrex currently has a daily volume figure of approximately $80 million, which is by no means a figure to scoff at.

Ethereum Classic Proponents Rejoice

While the market isn’t looking all too healthy, instances of positive news surrounding Ethereum Classic remains at an all-time high. This piece of Bittrex news comes alongside similar announcements made by Coinbase and Robinhood, who also recently integrated Ethereum Classic into their respective crypto trading platforms.

More on Coinbase’s move to list ETC, today came with Coinbase Pro seeing the successful launch of the ETC-USD order book through, with fully-fledged trading features being now available for the platform’s expansive customer base.

While Ethereum Classic is posting a 13% loss today, many investors see the aforementioned news as long-term bullish signals, as the implementation of this asset onto some of the world’s most prominent platforms will only boost adoption and real-world use in the near future.

Photo by Artem Bali on Unsplash


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Coinbase Pro Now Supports Ethereum Classic (ETC)

The hype surrounding Coinbase’s upcoming Ethereum Classic (ETC) listing has continued, with Coinbase’s so-called “Pro” platform recently announcing that it now officially supports ETC deposits.

Ethereum Classic Is Now Live On Coinbase Pro 

On Tuesday morning, Coinbase took to Twitter to announce that its plans for the launch of Ethereum Classic were successful, with the exchange finally offering support for the transfer of this crypto asset.

In an announcement blog post, David Farmer, Coinbase Pro’s General Manager, wrote:

“We announced final testing for Ethereum Classic last Friday, with a goal of accepting transfers for exchange users by Tuesday August 7th. Our testing has gone according to plan and we will be launching support first on our exchanges (Coinbase Pro).”

While Pro’s support for ETC officially commences today, Farmer implied that the addition of this asset isn’t a simple process, as he outlined an extensive four-stage plan that will ease the stress on Coinbase’s employees, system and consumers alike.

Stage 1 — Transfer-only: As noted earlier, Coinbase Pro users can now transfer their Ethereum Classic coins to the exchange starting today. While deposits are supported, traders will be unable to place orders. Coinbase expects this stage to last for at least 24 to 48 hours.

Stage 2 — Post-only: In this stage, Coinbase customers will be able to post limit orders, but no order matches will be made during this time. The platform will allocate a minimum of 10 minutes to this stage.

Stage 3 — Limit-only: Following the post-only stage, trader’s limit orders will begin to be matched with other orders. However, market orders will not be supported just yet, with the firm allocating yet another 10 minutes to this phase.

Stage 4 — Full Trading: Following the success of the aforementioned stages, Coinbase Pro expects to launch full-fledged support for trading, including limit, market and stop orders.

It was added that this process would be completed on a case-by-case basis for each of the platform’s new order books, which are ETC-USD, ETC-BTC, and ETC-EUR. The Coinbase executive noted:

“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules.”

It is important to note that ETC will not be available for Coinbase Consumer ( just yet, with the platform citing liquidity concerns as the primary reason why ETC will not initially be added to the platform used by a majority of retail investors.

ETC Surpasses Tron, Monero, And More To Become The 11th Largest Crypto 

As a result of a series of positive developments regarding this cryptocurrency, Ethereum Classic has skyrocketed as of late, recently surpassing cryptocurrencies like Tron and Monero to become the 11th largest cryptocurrency by market capitalization. Just a few weeks ago, ETC was the 16th largest cryptocurrency, holding no resemblance to the position it is in now.

This positive bout of price action goes to show how influential Coinbase is on the price of crypto assets, with the so-called “Coinbase effect” pushing Ethereum Classic “to the moon.”

Title Image Courtesy of Coinbase


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Ethereum Classic (ETC) Price Analysis: What’s Behind That Big Breakout

Ethereum Classic had formed lower highs and higher lows to consolidate inside a symmetrical triangle on its 4-hour chart since the latter part of June. Price has recently busted through the resistance to signal that an uptrend is in the cards.

The chart pattern spans $12 to $19 so the resulting rally could be roughly the same height. However, moving averages have yet to catch up to the move since the 100 SMA is still below the longer-term 200 SMA. This suggests that the path of least resistance is to the downside or that sellers have the upper hand.

This could mean that a pullback to the broken triangle top around $17 is in order. After all, RSI is dipping into overbought territory on its move up, and turning lower could bring selling pressure back in. Similarly stochastic is indicating overbought conditions and looks ready to head south, so Ethereum Classic might follow suit.

News that cryptocurrency trading app Robinhood added Ethereum Classic to its list of tradeable digital assets turned out very bullish for this one as it would bring higher volumes and increased activity.

According to their official announcement on August 6:

Starting today, you can invest in Ethereum Classic on Robinhood Crypto, commission-free.

Robinhood also offers trading in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin, as well as track market data for 10 other cryptocurrencies. The app is currently available in 19 states, and the company continues to work to expand to more. Earlier this year, Robinhood was able to raise $363 million in a series D funding round to expand its business, bringing its valuation to $5.6 billion.

This decision to add Ethereum Classic to its mix comes just before Coinbase is set to add the option as well. The company announced:

We expect final testing to be completed by Tuesday, August 7, at which point we will announce that we’re ready to accept inbound transfers of ETC. We intend to allow 24–48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading.


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Crypto Mining Firm Argo Blockchain Listed on London Stock Exchange, Raises $32 Million

Mining firm Argo Blockchain PLC has reportedly become the first crypto company to join the London Stock Exchange (LSE), raising around $32 million for a total valuation of about $61 million, The Telegraph reports August 3.

London-based Argo offers customers to the ability to mine four cryptocurrencies — Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), and Zcash — through their own computers or mobile devices for a monthly subscription fee. The service provides immediate access to the firm’s mining rigs and enables direct deposits of all mined coins to the users’ digital wallets.

According to an initial admission document from the LSE, a total of 156,250,000 ordinary shares that represent 53.2 percent of the firm’s issued share capital on admission have been placed at 16 pence per share, valuing Argo at a market capitalization of 47 million pounds (around $61 million).

The report notes that the company has raised 25 million pounds (around $32 million), with registered shareholders including Miton Capital, Henderson Global Investors, and Jupiter Asset Management, the Telegraph writes.

Jonathan Bixby, a co-founder of Argo, told The Telegraph that Argo’s mining subscription system was developed to “ take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet.”

Founded in late 2017, Argo aims to build an international data center management business for assisting in crypto mining as a service (MaaS), which would be available to anyone in the world, the company’s LSE document states.

The platform initially launched on June 11, 2018, and all of the subscription packages are currently sold out, according to Argo’s website. Argo’s initial admission notes that the company will be able to both add and remove cryptocurrencies from its offerings in the future.

Earlier this week, the world’s second largest Bitcoin (BTC) mining hardware supplier Canaan Creative introduced the “first ever” BTC mining television set with a processing power of 2.8 trillion hashes per second.

And on Monday, unnamed sources revealed that crypto mining hardware giant Bitmain is reportedly planning to conduct an overseas initial private offering (IPO) “very soon,” after earning about $1 billion in net profit in the first quarter of 2018.

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Coinbase Finalizes Plans To List Ethereum Classic (ETC)

While the cryptocurrency market has been in a tumultuous state over the past 72 hours, Coinbase has pushed forward with its development, recently noting that Ethereum Classic is almost ready for addition to the platform’s exclusive roster of cryptocurrencies.

In mid-June, Ethereum World News reported that Coinbase had announced that the firm’s engineering team had begun to work on the integration of Ethereum Classic. At the time, the well-established cryptocurrency platform did not give a clear timeline on the integration of the crypto asset, seemingly going silent regarding news about the listing.

But with this most recent announcement, it is clear the engineering and coding team at the firm had their heads down, doing their utmost best to add ETC as soon as possible.

On Friday afternoon, Coinbase took to Twitter to break the latest update on this situation. They issued the following tweet to the account’s over one million followers, which sent shockwaves rippling throughout the industry.

In the blog post accompanying the tweet, the exchange revealed that they expect final testing to be completed by August 7th. Following the conclusion of the firm’s extensive rounds of testing, Coinbase will open support for inbound deposits on Coinbase Pro (formerly GDAX) and Coinbase Prime.

It is important to note that trading will not be enabled immediately, with the exchange intending to allocate 24 to 48 hours to explicitly facilitate ETC deposits. The firm’s Twitter account noted:

“We intend to allow 24-48 hours of inbound transfers before enabling trading of Ethereum Classic on and Prime.”

While the firm seems rather confident about this date, it was noted that it may be subject to change, with the date being seen as only a “best estimate,” rather than a finality. By any chance that details shift, Coinbase made it known that punctual updates would be given to the public to stay in-line with their transparency policy.

Coinbase also noted that its so-called “Consumer” exchange, the name given to the barebones exchange meant for ‘everyday joe’ retail investors, will not initially support ETC after August 7th. The cryptocurrency infrastructure firm wrote:

“Coinbase Consumer will list assets only after they are listed on Coinbase Pro and Prime. We plan to add support for ETC on Coinbase Consumer when sufficient liquidity is established. We expect this to occur approximately 1–2 weeks after trading begins on Pro and Prime.”

Ethereum Classic (ETC) Continues To Outperform The Market

When the original ETC announcement hit, the cryptocurrency immediately saw a large uptick in volume, rapidly seeing a 25% increase. This positive price action continued, with the 15th largest cryptocurrency outperforming a majority of altcoins as this most recent announcement drew near.

As it stands, around two hours after this most set of news, Ethereum Classic has seen a staggering 12% gain and a near doubling in publicly reported volume.

This increase was so substantial that CNBC Fast Money, who covers the cryptocurrency market nearly every day, issued a Tweet regarding the price action.

Considering the fact that a listing on Coinbase results in increased levels of adoption for a cryptocurrency, it only makes sense that ETC will continue to move upwards as we approach the final listing date.


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Crypto Markets See Mixed Signals But Remain Stable, Bitcoin Pushes $6,700

Crypto markets continue to see mixed signals, but hold recent gains today, July 6, according to data from Coin360. All but one of the top ten coins on CoinMarketCap are seeing only minor fluctuations over the past 24 hours to press time.


Market visualization from Coin360

Bitcoin (BTC) is challenging $6,600, trading at $ 6,650 at press time, up just about 1 percent over the 24-hour period. The leading cryptocurrency holding gains made since June 30, solidly trading above the $6,300-6,400 resistance level, which market research firm Fundstrat’s Robert Sluymer says the coin needs to “rally through” to reverse its existing downtrend.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Leading altcoin Ethereum (ETH) is up over two percent over the past 24 hours, trading at $470 at press time. ETH is also holding gains made during the market uptick June 30, which saw the coin rise up from near $400.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market capitalization of all cryptocurrencies is at about $269 billion at press time, up from its intraday low today of $261 billion, but down from yesterday’s $273 billion.

Total market capitalization chart

Total market capitalization chart. Source: Coinmarketcap

Of the top twenty coins on CoinMarketCap, NEO (NEO) and IOTA (MIOTA) have seen the biggest losses over the past 24 hours.

NEO, which saw substantial growth of around 8 percent yesterday, is back down about 7 percent on the day and trading at $37.54. Though down today, the coin has seen a whopping 33.5 percent growth over the past week. July 4, the NEO network reported that it was beginning the decentralization of its Mainnet.

MIOTA is also down about 7 percent on the day, trading at $1.06 at press time. The altcoin has also however seen growth this week, up around 17 percent over the past seven days.

In terms of the top gainers, Tezos (XTZ) has seen the most growth over the past 24 hours. The coin is up 9 percent on the day, trading at $1.81 per coin. Cointelegraph recently reported on the story of the controversial project, which raised a then record-breaking $232 mln in its Initial Coin Offering (ICO) and has since been the subject of multiple controversies.

Ethereum Classic (ETC) is also up notably, seeing 8 percent growth on the day to press time and trading at $18.27.

Yesterday, July 5, Fundstrat’s Tom Lee reiterated his January prediction that Bitcoin could be worth between $22,000 and $25,000 by the end of 2018, a calculation made based on the cost of mining.

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Ethereum Classic (ETC) to Be Listed on Coinbase Hoists the Price

The 15th largest cryptocurrency by market capitalization is playing against all market-cards today. Despite almost all coins suffering under the grasp of heavy bear claws, ETC is on the green. The pair ETC/USD is gaining 2.53% in the last 24-hours reversing the price back to $17.62.

Listing Impacting ETC Price

Even that the increase could be very miniature to the bigger market picture, it is clarifying that ETC could initiate a free-run against the sellers. The only reason that might be backing up the coin behind this excellent performance is its speculation on Coinbase listing.

Coinbase has confirmed that the move will happen sooner or later, but when it is still not clear for anybody. It is much expected that an announcement related to the listing will happen during this month, however it will be not of a long notice.

This decision caused a stir on social networks from both fans and skeptics. While many ETC supporters were enthusiastic about the news, others were disappointed as they saw ETC as a “dead currency.” Even some users were confused about the decision.

As it usually happens when more used and famous platforms like Coinbase list a coin, it is predicted that a boost of price will enter the place as it will invite more mainstream and institutional interest in the crypto.

Even that the listing will happen, stay sharp, trade carefully and do not overtrade. The coin is attracted very much towards volatility and investments should be well thought. But, keep your radar on on ETC as it could turn out a good wallet diversification choice.