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Vitalik Buterin: High Ethereum (ETH) Prices are Good For Development

Ethereum ETH price Vitalik Buterin

Vitalik Buterin, co-founder for Ethereum, has an interesting view on the price development of ETH.

While current investors would be happy to see the price of Ethereum return to its all time high of $1432 in the early days of Jan. 2018, Buterin believes that a high ETH price is healthy for both network security and ecosystem development.

Buterin made his comments in a crypto-focused interview held by Laura Shin at the Columbia Graduate School of Journalism on Mar. 20, which was live-streamed for outside viewers. Shin asked the ETH co-founder whether project leads and designers–such as Buterin–should be focused on the price of cryptocurrency, particularly in light of the high volatility and the current “crypto winter” market conditions.

In response, Buterin pointed to what he called “earlier rhetoric” for ETH which downplayed the importance of cryptocurrency valuation in light of industry growth in development. In particular, Buterin explained that efforts to downplay price talk were both a way to distinguish ETH from other crypto pump and dump schemes, while also keeping the currency from treading in murky legal territory.

Buterin told Shin,

“In part, it was counter-signaling to distinguish ourselves [Ethereum] from other crypto projects that do pumping and lambo-ing way too much. But it was also about minimizing legal risk by basically trying to make the project seem more distant from something that would be covered by financial regulation.”

Since the release of Ethereum in July 2015, Buterin reports that the landscape of cryptocurrency has shifted dramatically. As opposed to earlier perceptions and conversations surrounding crypto, which hinged upon illicit use and other miscreant behaviors, regulators in today’s context are much more open to digital assets and blockchain projects. However, these regulators are unlikely to ignore coin projects just because developers claim they have no interest in the market price, with Buterin explaining,

“Even if people try to claim the price doesn’t matter at all, they are totally going to see through that.”

The cryptocurrency co-founder went on to share his view of ETH’s price, and how increased valuation would benefit the project as a whole instead of just pumping investor wallets,

“I can tell you what things are clearly important about why the price being higher rather than lower is good. One of them is obviously security. If the price is zero, then the network can’t be secure. That’s true in proof-of-work and proof-of-stake.”

Finally, Buterin outlined the value of incentives in cryptocurrency adoption and development, specifically claiming that coin developers and community members are better positioned both in terms of resources and rewards if the currency’s price can continue to grow higher.

The interview concluded with the audience being poised the question “Are Ethereum developers focused enough on the price of Ethereum?,” to which 21 percent reported “yes” with the largest pool of respondents at 38 percent responding “don’t care.”

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Ethereum Price (ETH) Trading Near Crucial Juncture Versus Bitcoin (BTC)

Ethereum price failed to stay
above the 0.0355BTC resistance and recently declined against bitcoin. ETH/BTC is
now trading near a crucial support and preparing for the next break.

Key Talking Points

  • Ethereum price retreated from the 0.0357BTC
    level and declined below 0.0350BTC against bitcoin.
  • There is a major bullish trend line in place
    with support at 0.0342BTC on the 4-hours chart of the ETH/BTC pair (data feed
    from Poloniex).
  • The pair is likely preparing for the next break
    either above 0.0350BTC or towards 0.0334BTC.

Ethereum Price Chart Analysis

Recently, Ethereum price climbed higher above 0.0350BTC and 0.0355BTC. However, the price failed to hold gains above the 0.0355BTC level, formed a high near 0.0357BTC and later started a strong downward move.

Ethereum Price Analysis ETH BTC Chart

Looking at the chart, the price traded as high as 0.0357BTC and later traded below the 0.0355BTC and 0.0350BTC support levels. The decline was strong as the price even settled below the 0.0348BTC support and the 100 simple moving average (4-hours).

The price traded as low as
0.0341BTC and it is currently preparing for the next break. On the downside,
there is a major bullish trend line in place with support at 0.0342BTC on the
4-hours chart of the ETH/BTC pair.

Below the trend line support, the
next key support is at 0.0400BTC. If there is a bearish break, the price may
decline towards the 0.0334BTC or 0.0330BTC support level.

On the upside, there is a
connecting bearish trend line formed with resistance near 0.0345BTC on the same
chart. The 23.6% Fib retracement level of the recent decline from the 0.0357BTC
high to 0.0341BTC low is also near the trend line.

If there is an upside break above
0.0345BTC, the price may recover towards the 0.0350BTC level or the 50% Fib
retracement level of the recent decline from the 0.0357BTC high to 0.0341BTC low.
If the price gains traction, it could revisit the 0.0355BTC resistance level in
the near term.

Overall, Ethereum price is trading near a crucial support
above 0.0340BTC and it could rebound if ETH buyers gain pace above the
0.0345BTC resistance.

 The market data is provided by TradingView.

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Ethereum (ETH) Price Analysis: Shallow Uptrend Going On

Ethereum has formed higher lows and higher highs to create a rising wedge formation visible on its 1-hour chart. Price is down to the wedge support that lines up with the 50% Fib where buyers might be waiting.

Bulls are defending the support at the $140 level and could take ethereum back to the swing high around the $147.50 mark or the resistance at $150. Stronger bullish momentum could even lead to an upside break and a rally that’s the same height as the chart formation, which spans $127.50 to $147.50.

The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside or that the rally is more likely to gain traction than to reverse. However, the gap between the indicators is narrowing to reflect weaker bullish momentum. A bearish crossover could increase the odds of a downside break and a selloff that’s the same height as the chart pattern.

RSI is still heading up to signal that there may be some bullish pressure left, but the oscillator also seems to be turning south so price might follow suit as sellers return. Stochastic is also turning lower without reaching the overbought zone, indicating that sellers are eager to return and push price down.

There haven’t been much updates on most cryptocurrencies, including ethereum, these days so it’s understandable that traders are holding out from larger bets. Bulls continue to defend support levels, possibly on optimism for institutional investments but traders are also getting noticeably wary on the lack of developments.

Further delays in this aspect could spur a wave of profit-taking as traders wait to enter at much better levels. On the other hand, any progress could trigger upside breakouts and rallies on FOMO.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Ethereum Price (ETH) Sighting Upside Break Versus Bitcoin (BTC)

Ethereum price faced a strong
resistance near the 0.0360BTC level against bitcoin and declined. ETH/BTC is
finding strong bids and it seems like it could break higher above 0.0344BTC and
0.0350BTC.

Key Talking Points

  • Ethereum price failed to climb above the
    0.0360BTC resistance and declined against bitcoin.
  • There is a key declining channel in place with
    resistance at 0.0344BTC on the hourly chart of the ETH/BTC pair (data feed from
    Poloniex).
  • The pair might soon break the 0.0345BTC
    resistance to start a solid upward move in the near term.

Ethereum Price Chart Analysis

After trading as low as 0.0334BTC, Ethereum price started an upward move against bitcoin. The price traded above the 0.0350BTC resistance, but it faced a strong resistance near the 0.0360BTC level and later started a solid downward move.

Ethereum Price Analysis ETH BTC Chart

Looking at the chart,
the price traded as high as 0.0360BTC and later traded below the 0.0355BTC and
0.0350BTC support levels. There was a close below the 0.0350BTC support and the
100 simple moving average (4-hours).

Besides, there was a break below
the 61.8% Fib retracement level of the last wave from the 0.0334BTC low to
0.0360BTC high. More importantly, it seems like there is a key declining channel
in place with resistance at 0.0344BTC on the hourly chart of the ETH/BTC pair.

The pair recently spiked below
the 76.4% Fib retracement level of the last wave from the 0.0334BTC low to
0.0360BTC high. Therefore, there is a risk of a downside move towards the
0.0334BTC swing low before the price could climb higher.

On the upside, a break above the channel
resistance and 0.0345BTC is needed for buyers to gain traction. The next key
resistance is at 0.0350BTC and the 100 SMA, above which the price is likely to
climb towards the 0.0360BTC resistance area.

Overall, Ethereum price may decline further, but downsides
could be contained near 0.0334BTC against bitcoin. Finally, there are high
chances of an upside break in ETH above the 0.0345BTC and 0.0350BTC resistance
levels in the coming sessions.

 The market data is provided by TradingView.

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Ethereum (ETH) Price Analysis: Major Reversal Pattern?

Ethereum could be in for more declines as it forms a double top on its 4-hour chart. Price is just halfway through its move back down to the neckline, but a break below that support level could spur a drop that’s the same height as the formation.

The 100 SMA is still above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, there’s still a chance for support levels to hold. However, the gap between the indicators has narrowed to reflect weakening bullish momentum and a potential bearish crossover. Ethereum is also moving below the 100 SMA as an early indicator of bearish pressure and might also be poised to fall below the 200 SMA dynamic inflection point.

RSI is already indicating oversold conditions, though, so sellers could take a break and allow buyers to take over from here. In that case, a bounce off these current levels could take ethereum back to the tops around $170 or higher. Stochastic is also turning up from the oversold region to signal that buyers are ready to return. A break below the $100 neckline, on the other hand, could lead to a selloff that’s around $70 in size.

Ethereum appears to have successfully completed its Constantinople and St. Petersburg upgrades without much of a hitch, but this outcome didn’t spur an immediate bullish reaction from price. This suggests that the positive sentiment from the previous month may have already run out of steam, and traders are hoping to get actual developments before reviving their long positions.

There is a lot riding on the Fidelity institutional platform launch said to push through this month, so progress might be enough to encourage bulls to return. Then again, the increased volumes could weigh on volatility for the time being.

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Ethereum (ETH), Cardano (ADA) and NEO Showcasing Resistance towards the Bears

With the speedy up and downs throughout the market, it has a reached a difficult state to predict what could take place or happen next. But, for the time being the one that is standing out heavily is Ethereum – the third largest by market capitalization.

Ethereum ETH

Without a doubt, the talk of the week is Ethereum and how its performance is closing-in dangerously towards Ripple”s XRP just-gained second place right below Bitcoin (BTC). Roughly two weeks after the fateful BCH civil war took the crypto market by surprise and threw it off a cliff, Ethereum and most coins took heavy blows by the bears. However, XRP appeared to stand ground and reach $4 bln more market capitalization just in a few days compared to the previous-second place holder.

Returning to the present, the very popular Ethereum is standing in the spotlight for the past week and so it is only half a billion far from Ripple’s XRP. Per time of writing the pair ETH/USD is one of the only in the green with 2.70% gain in the last 24-hours.

source: coinmarketcap

As XRP experienced heavy grinding throughout the year, many thought that Ethereum is history and now the real game is between the crypto-pioneer Bitcoin BTC and the speedy XRP.

However, the next weeks and months could counter-reply the ETH-bearish ideas spread in the crypto community. Case in point, the project’s Constantinople upgrade, the next step in Ethereum’s multi-year plan to integrate Serenity (Proof of Stake, sharding, etc.), is slated to activate over the next three weeks.

Constantinople, which will cut Ether’s issuance rate by 33% and activate short-term scaling solutions, will activate (via a hard fork) at the processing of the 7,080,000 blocks.

Read in details:

Ethereum (ETH) Closes In On XRP After 15% Gain

Showcasing good numbers are also Cardano ADA and NEO against the US Dollar. The pair ADA/USD has reached the level of $0.043 with 3.23% increase in the last 24-hours expanding the market cap gap between it and IOTA (MIOTA). Also, NEO is battling sellers to re-test the major $10.00 mark is it is counting 4.35% in the last day.

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Ethereum [ETH] Back on Recovery Track: TRON TRX Following

As the recovery road commenced, the third largest coin by market capitalization Ethereum [ETH] lead the pack with its speedy value increase against the US Dollar.

After climbing back above the major $100.00, the pair ETH/USD reached a level of $140.00 with a market capitalization of $14.454 bln.

Source: coinmarketcap – monthly ETH price movement against the US Dollar.

Sellers had the upper hand against buyers per/reaching $150.00 level which support previously was cleared during one of the fast downward plunges of the last month. So, the week for one of the most promising coins ended on the happy side with almost 50% upward movement.

Through a recent Ethereum core developer bi-weekly call, it has been confirmed that Constantinople, the project’s next pertinent protocol, will activate on the processing of block 7,080,000, which is slated to arrive around January 14th, per CoinTelegraph and statistics from Etherscan.

Coin Price

Weekly Performances – top 10 by market cap

Being known for strongly highlighting the characteristic of following the larger-leading coin, TRON [TRX] is experiencing a welcomed 48.63% rise reaching the above-seen level of $0.02100. The recovery should not come as a surprise as TRON and the behind the virtual coin made many advancements and announcements even during the great market downfwall after Bitcoin Cash’s much debated Hard Fork. As predicted by our team at EWN – it will not go long before TRX stands firmly above $0.021.

Recommended to read:

TRON [TRX] Second Attempt for the $0.021: Standing Out Among XRP, LTC and ETH

Justin Sun Urges ConsenSys Staff Facing Lay Offs, To Send their Resumes to the Tron (TRX) Foundation

The creator of the platform that wants to change the internet how we know it today – Justin Sun, during an interview Inc. Magazine added on how the team designed the testing route which the network could take via purchasing BitTorrent.

“One of the reasons we purchased BitTorrent, besides its great team, is that we’ll be able to test scalability like no one else, with 100 million monthly active users getting exposure next year to blockchain …
TRON and BitTorrent will continue to work on separate projects while orbiting each other and collaborating on that goal of decentralizing the internet.”

He continued..

We think we stand out with our accelerator program because it’s stable, more efficient and has lower fees associated with it … The biggest issue really is educating developers globally–first on ‘why blockchain?’ and second on ‘why TRON?’ That’s why we recently launched the $1 million (USD) TRON Accelerator DApp competition. By giving prizes totaling that $1 million, the developer community gets to… execute their ideas or projects on TRON.

 

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Ethereum Price Analysis: ETH/USD Solid, adds $3.39 Billion in Three Days

Latest Ethereum News

The crypto winter might be coming to an end and after 11 months of deep frost, it’s a scramble for honors. And it’s not about individual coins recouping their losses and realigning as they post massive gains in the last 24 hours, exchanges are doing their best to improve user experience. CoinBase, one of the world’s largest and conservative crypto exchange is rolling out goodies for users. As a “crypto first” exchange, the platform is releasing a new feature, Convert.

Read: Cryptocurrency Regulations: Hong Kong Considers Stricter Laws for the Industry

This tool allows platform users to convert from one coin to another without using third party applications as ShapeShift or Changelly. Support is available for Bitcoin, Ethereum and four other coins. But as a for-profit company, CoinBase will charge one percent for every conversion. However, depending on prevailing market conditions, fees can vary.

Meanwhile, data from Santiment indicate that more than 400,000 ETHs flew from ICO wallets in the last 30 days. Even though data was inconclusive on whether these coins found their way to exchanges, we can only speculate that this activity meant liquidation.

Also Read: CoinBase Opens Up To Altcoins, Launches Crypto-To-Crypto Trading

Kyber Network spent 67,290 ETHs from mid-November but their wallets still hold 5,560 ETHs after raising $50 during their successful ICO. Other noteworthy sellers during this bear freeze include Aragon, SingularDTV as well as Status.

ETH/USD Price Analysis

ETH/USD Price Analysis

At spot prices, ETH is up 4.4 percent against the USD and $7 away from the all-important resistance level. From previous ETH/USD trade plan, sellers are technically in charge unless there are solid breaks above $100. This is a round number and a psychological level that could propel ETH above $130 and even $160 cancelling the bear breakout pattern of Dec 6.

Trend and Candlestick Formation: Bearish, Breakout Pattern

The path of least resistance is southwards and the perpendicular falls from $160 cement our trend preview. But there is hope for bulls if and only if there are high-volume close above $100. As reiterated above, this expansion would cancel the minor bear breakout pattern of Dec 6 as bulls find the necessary momentum to rally towards $160. This is another important resistance level and previous support of Oct-Nov 2018.

Volumes: Increasing, Bullish

Though ETH/USD is range bound and oscillating within a tight $17 range with floors at $83, gains above $100 could ignite buyers aiming at $160. But this is subject to the level of market participation. Ideally, the breakout above $100 should be accompanied by above-average volumes exceeding Dec 7, 1900 HRs bar—321k versus 179k.

If that is the case and recent lower lows act as a catapult for the next wave of higher highs, then our ETH/USD trade plan will be as follows:

Buy: $100, $130

Stop: $90, $110

Targets: $130, $160, $250

All Charts Courtesy of Trading View

This is not Investment Advice. Do your own Research.

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Ethereum (ETH) Price Analysis: Downside Triangle Breakout

Ethereum was previously consolidating inside a symmetrical triangle pattern and has broken below support to signal that further declines are in the works. Price could be due for a quick pullback to support before heading further south.

The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is more likely to resume than to reverse. However, RSI is turning higher after recently hitting the oversold region, indicating that buyers could return from here. Stochastic is also starting to pull up and head north so price could follow suit while bulls are in control.

Ethereum might hit resistance at the broken triangle bottom around $90 that lines up with the 100 SMA dynamic inflection point. If so, more sellers could jump in at these level and push for a move below the swing low. A larger bounce could hit a ceiling at the triangle top close to the 200 SMA dynamic resistance.

The CFTC is reportedly looking closer into ethereum, issuing an RFI or request for input from the public to respond to its questions on the nature of this digital asset. In its press release, the regulator stated:

“The CFTC expects the comments and information received will benefit LabCFTC, the CFTC’s FinTech initiative, and help to inform the Commission’s understanding of these emerging technologies.”

The request lists around 25 questions on ethereum and its network, also asking about the differences and risks compared to bitcoin. It went on to state:

“The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives markets as well as monitoring and reducing systemic risk by enhancing legal certainty in the markets. The RFI seeks to understand similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”

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Daily Altcoin Review: ETH/USD, LTC/USD Ranging, Fundamentals Supportive

Latest Ethereum News

In a milestone case— Copytrack Pte Ltd v Wall–noted by the University of Oxford Faculty of Law and published by the Business Law Blog, it is likely that relevant laws shall apply regarding claims of lost or stolen cryptocurrencies. The ruling made against the defendant, Brian Wall, mandates that the plaintiff and coin issuer Singapore’s based Copytrack Pte, shall trace and recover coins from “whatsoever hands the coins might be held at”.

Read: Ethereum (ETH) Futures Rumors Mount, As CBOE’s Bitcoin Foray Turns One

The defendant mistakenly received 580 ETHs from Copytrack instead of 580 PTY tokens after participating in an ICOs.

This is an important ruling that could help protect businesses or individuals who wire funds to the wrong addresses going on to demonstrate how blockchain technology is not only governed by codes and smart contracts but by applicable rules set by a given jurisdiction.

At the moment specialist companies are developing. However, in the future, it will become easy for the rightful owners to track and recover funds once they appear on supporting wallets.

ETH/USD Price Analysis

With a market cap of $9.25 billion, ETH is the third most valuable coin in the space. But it could reclaim its spot if prices surge above $100 and later $160. From candlestick arrangement, prospects of ETH/USD expanding above $100 is a tall order and largely depends on the resuscitation of BTC prices.

As it is, ETH is in range mode oscillating within a $17 range with limits at $100 and $83—Dec 7 lows. As mentioned in previous analysis, bears are in control but for trend shift and invalidation of the bear breakout pattern than saw ETH sink below $100 on Dec 6, then buyers must gain momentum and rally above $100.

This shall jolt buyers into action buying on dips with stops at $90 and first targets at $130 and later $160—the main resistance previous support line.

Our ETH/USD Trade plan is as follows:

Buy: $100

Stop: $90

Targets: $130, $160

 

Latest Litecoin News

In an audio interview with Helio Executive John O’Shea, the lending firm said it will issue loans backed with cryptocurrencies including Litecoin (LTC), XRP, BTC and ETH shortly after receiving a credit license from the regulator.

Also Read: 7 Major Exchanges Join Forces to Enhance the Crypto Ecosystem in South Korea

Meanwhile, HTC’s Exodus 1 was featured at the Slush Conference in Helsinki, Finland. The blockchain tailored smart phone which will ship pre-loaded with the Brave Browser will retail for 19.74 LTCs and the company has Litecoin’s founder as its consultant.

LTC/USD Price Analysis

LTC/USD Price Analysis

On a weekly basis, LTC/USD is down 18 percent but quite stable in lower time frames. Despite hints of higher highs and absorption of sell pressure without price swings, bears are technically in charge and could get worse if prices sink below our minor support at $20 or Dec 7 lows.

From simple candlestick arrangement, we shall recommend patience until after there are convincing breaks above the $5 range marked by Dec 8 highs at $25 and floors at $20. Before then, sellers have a real chance of driving prices lower in a trend continuation move that could see LTC print $2 by end year.

Of course, that is undesirable but the only time buyers would be in control is when there are solid moves above $25. That could thrust prices towards $40 and later $50 re-invigorating the market in the process.

This is our LTC/USD Trade Plan assuming bulls take charge:

Buy: $25

Stop: $20

Targets: $40, $50

All Charts Courtesy of Trading View

This is not Investment Advice. Do you Own Research.

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