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Analysts Expect Ethereum Price to Pop as Buying Pressure Builds

Ethereum

Ethereum and the aggregated crypto markets have incurred a decent amount of buying pressure today which coincided closely with Bitcoin’s rapid surge into the upper $11,000 price region. 

This price surge marks an extension of the choppy price action that the markets have incurred over the past several days, and analysts are now noting that Ethereum may be posed for significantly further gains in the near-term due to the aggressive buying pressure that is underlying its latest move up.

Ethereum Surges into Lower-$300 Region as Buying Pressure Mounts

At the time of writing, Ethereum is trading up over 3% at its current price of $308, up significantly from its daily lows of $293.

ETH’s latest move up has allowed it to climb to fresh weekly highs, although it is still down significantly from its one-month highs of $353 that were set in late-June when Bitcoin parabolically surged to $13,800.

Ethereum’s price surge today has been driven by an influx of buying pressure, which is reflected in its 24-hour volume, which has risen from recent lows of $7 billion to its current levels of $9.3 billion.

Importantly, although ETH has experienced some positive price action today when denominated against USD, it is currently trading down over 1% against its BTC trading pair, and one analyst believes that this could signal where it is going next.

“$ETH – ETH / BTC leading the way for the USD Pair? If Ethereum loses $300 again, I will be interested in short position to ~$270. If it does pop I will be looking to short ~$330 as well,” UB, a popular cryptocurrency analyst on Twitter, explained in a recent tweet.

Will Aggressive Buying Pressure Lead ETH Higher?

Although Ethereum’s BTC trading pair may spell trouble for its near-term price action, another popular figure within the cryptocurrency markets is quick to note that ETH has been incurring aggressive buying pressure in recent times.

Su Zhu, another popular analyst on Twitter, explained that most funds were previously underweight in Ethereum, which may be the root cause behind the recent influx of buying pressure.

“$ETH for the last week is the most aggressively upward-moving large-cap alt. I’ve seen some ppl tweet that this means there will be an alt szn, but I think most alts will continue to underperform in ETH terms. Speaking across the fund manager space, everyone is underwgt ETH,” he explained in a recent tweet.

Although it remains unclear as to which direction Ethereum is heading in the near-term, if funds are, in fact, buying into the cryptocurrency, it may soon surge back up to its recent highs around $350.

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Ethereum Price (ETH) Facing Uphill Task Vs Rising Bitcoin (BTC)

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price recovered
recently, but struggled near the 0.0282 resistance against bitcoin. ETH to BTC
is currently correcting lower and remains at a risk of more losses.

Key Talking Points

  • Ethereum price started a decent recovery against
    bitcoin, but struggled above the 0.0280 level.
  • There is a key ascending channel forming with support
    at 0.0260BTC on the 4-hours chart of the ETH/BTC pair (data feed from Poloniex).
  • The pair could either extend losses below the
    0.0260BTC support or it could climb again towards 0.0280BTC.

Ethereum Price Chart Analysis

After a strong decline, Ethereum price found support near 0.0245 against bitcoin. ETH to BTC started an upward move above the 0.0270BTC resistance, but it struggled to gain momentum above the 0.0280BTC level.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price formed a swing low near 0.0245BTC and started a decent recovery. There was a break above the 0.0260BTC resistance level to start an upward move.

Moreover, there was a break above
the 50% Fib retracement level of the last drop from the 0.0298BTC high to 0.0245BTC
swing low. The price even pierced the 0.0280BTC level, but it struggled to
continue higher.

It faced a strong resistance near
0.0282BTC and the 100 simple moving average (4-hours). Besides, the 61.8% Fib
retracement level of the last drop from the 0.0298BTC high to 0.0245BTC swing
low also acted as a resistance.

As a result, there was a fresh
decline in Ethereum price below the 0.0275BTC and 0.0270BTC level. It is
currently trading near the 0.0260BTC support area. More importantly, there is a
key ascending channel forming with support at 0.0260BTC on the 4-hours chart of
the ETH/BTC pair.

If there is a downside break
below the channel support, the price could move back in a bearish zone and it
is likely to test the 0.0250BTC or 0.0245BTC support level.

Conversely, Ethereum could bounce
back from the 0.0260BTC support. However, on the upside, there are many hurdles
for ETH near the 0.0275BTC, 0.0280BTC and 0.0282BTC levels. Only a close above
the 0.0282BTC level and the 100 SMA might accelerate gains in the near term.

 The market data is provided by TradingView.

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Ethereum Price (ETH) Taken Out In Bitcoin (BTC) Storm

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price failed to stay
above the 0.0300 support and declined heavily against bitcoin. ETH to BTC is
currently trading below 0.0280 and it could continue to slide.

Key Talking Points

  • Ethereum price declined heavily against bitcoin
    after latter once rallied above $11K and $12K.
  • There is a major declining channel forming with resistance
    at 0.0280BTC on the 4-hours chart of the ETH/BTC pair (data feed from Poloniex).
  • The pair remains in a strong downtrend and it
    might even trade towards 0.0250BTC.

Ethereum Price Chart Analysis

This week, there were strong gains in bitcoin price above $11,000, but Ethereum price failed to catch up against the US Dollar. As a result, there were bearish moves in ETH to BTC and the price declined sharply below the key 0.0300BTC support area.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price remained in a strong bearish zone below the key 0.0300BTC support level and the 100 simple moving average (4-hours).

The recent decline was such that
the price even broke the 0.0280BTC support level. It recently traded as low as 0.0263BTC
and it could continue to decline in the near term.

An initial resistance is near the
0.0275BTC level and the 23.6% Fib retracement level of the last decline from
the 0.0294BTC high to 0.0263BTC swing low. Moreover, there is a major declining
channel forming with resistance at 0.0280BTC on the 4-hours chart of the
ETH/BTC pair.

The channel resistance is near
the 50% Fib retracement level of the last decline from the 0.0294BTC high to
0.0263BTC swing low. Therefore, a close above the channel resistance and the
0.0282BTC resistance is must for a decent recovery in Ethereum in the near
term.

If Ethereum price fails to climb
above the 0.0280 level against bitcoin, there are chances of more losses. An
initial support is near the 0.0260BTC level, below which ETH could even trade
towards the 0.0250BTC level in the near term.

On the upside, a break above the
0.0280BTC resistance is likely to set the pace for a decent recovery towards
the 0.0300BTC resistance.

 The market data is provided by TradingView.

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Ethereum Price (ETH) Is Facing Uphill Task Versus Bitcoin (BTC)

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price failed to climb
above the key 0.0320 resistance against bitcoin. ETH to BTC declined heavily
below 0.0300 and it remains at a risk of more losses.

Key Talking Points

  • Ethereum price recently declined below the 0.0310
    and 0.0305 supports against bitcoin.
  • There is a major bearish trend line forming with
    resistance at 0.0297BTC on the 4-hours chart of the ETH/BTC pair (data feed
    from Poloniex).
  • The pair must break the 0.0296BTC and 0.0300BTC
    resistance levels to start a decent recovery.

Ethereum Price Chart Analysis

Earlier this week, there were bullish moves in bitcoin and Ethereum against the US Dollar, but ETH struggled vs BTC. ETH to BTC failed to climb above the key 0.0320BTc resistance, resulting in bearish moves below 0.0310BTC. 0.0315BTC.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price declined heavily below the 0.0310BTC support. There was even a break below the key 0.0302BTC support level and the 100 simple moving average (4-hours).

The price settled below the
0.0300BTC support level and recently traded as low as 0.0288BTC. It seems to be
trading in a bearish zone with a strong negative bias below 0.0300BTC.

On the upside, an immediate
resistance is near 0.0292BTC and the 23.6% Fib retracement level of the last decline
from the 0.0307BTC high to 0.0288BTC swing low. Moreover, there is a major
bearish trend line forming with resistance at 0.0297BTC on the 4-hours chart of
the ETH/BTC pair.

Above the trend line, the 50% Fib
retracement level of the last decline from the 0.0307BTC high to 0.0288BTC
swing low is near 0.0298BTC. The main resistance is near the 0.0300BTC zone.

Therefore, a close above the
trend line and the 0.0300BTC resistance is must for a decent recovery in
Ethereum in the near term.

If Ethereum price fails to move
above 0.0300 against bitcoin, there are chances of more losses. An immediate
support is near the 0.0288BTC level, below which ETH could slide towards the
0.0260BTC support level in the near term. Any further losses may take the price
towards the 0.0250BTC level.

 The market data is provided by TradingView.

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Ethereum Update: Amazon Purchases in The Radar, +60% Growth this Month, ETH 2.0 by Early 2020s

Ethereum is having a very positive week, not only in terms of prices but also in terms of usability and technological evolution.

Ether (ETH) Loogking Good On Charts

Ether (ETH) —the blockchain’s native cryptocurrency— is having a phenomenal performance so far in June. An increase of 63% following the trend established by Bitcoin (BTC) has caused the token to reach 270$.

Ethereum has shown a +60% gain this month
Courtesy: Coinlib

The token’s behavior follows the bullish trend that began last May after a correction experienced at the beginnings of June due to the sharp fall of Bitcoin (BTC) prices attributed by several analysts to a practice of price manipulation.

However, after approaching $226,
ETH managed to recover, starting again a strong escalation replicated by other
cryptocurrencies.

The Heikin Ashi candles allow reducing the “noise” in the graphs, showing a clear bullish trend after having reached the minimums of the month. This trend is confirmed by nice MACD that shows a possible end of the correction and an optimistic future for the Ethereum Market.

Ethereum 2.0 to be Launched on
the 3rd of January 2020

According to information by Trust Nodes, the Ethereum development team has already set a date for the release of the long-awaited Ethereum 2.0: January 3, 2020.

Vitalik Buterin Speaking about Ethereum 2.0 at San Francisco

Justin Drake –one of the developers– said they chose that date for several reasons, one of which was that they wanted to honor the launch of the Bitcoin (BTC) genesis block on January 3, 2009.

The evolution of Ethereum has several characteristics, however the most important is the migration from a PoW algorithm to a brand new Proof of Stake alg. With this, the blockchain would be more effective, resource efficient and more resistant to possible 51% attacks — at least theoretically.

The “transition” process could start between October 8th and 11th of this year at Devcon, although there are already some Ethereum 2.0 clients running testnet.

As reported by Crypto Crimson, it is expected that once implemented -and with all parallel developments fully operational- Ethereum will be able to support about 1 million transactions per second.

Using Ethereum (ETH) for Amazon Purchases Will be Possible Thanks to a Partnership Between CLIC Technology and Opporty

An official press release shared by CLIC Technology revealed that they partnered with Opporty to work on the development of a browser extension “which will revolutionize the e-commerce industry, allowing consumers to make everyday purchases on Amazon using the open source, public, blockchain-based distributed computing platform Ethereum.

Roman Bond, CEO at CLIC
Technology shared his enthusiasm at the possibility of promoting the e-commerce
marketplace and the adoption of cryptocurrencies:

“Bringing cryptocurrency to the e-commerce marketplace is the merging of two next-generation industries … We’re excited to be working on this project with Opporty, and to move forward on a number of other ambitious projects with them as well.

As reported by Ethereum World News; last month, the tech startup Moon announced the development of an extension that allows payments on Amazon with Bitcoin (BTC) through Lightning Network.

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Ethereum Price (ETH) Could Continue Higher Versus Bitcoin (BTC)

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price started a strong
upward move from the 0.0300 support against bitcoin. ETH to BTC is currently gaining
pace and it could continue higher towards the 0.0330BTC level.

Key Talking Points

  • Ethereum price is currently placed nicely above the
    0.0300 and 0.0315 supports against bitcoin.
  • There was a break above a major bearish trend
    line with resistance at 0.0315BTC on the 4-hours chart of the ETH/BTC pair
    (data feed from Poloniex).
  • The pair is currently trading near 0.0320BTC and
    it remains supported for more gains in the near term.

Ethereum Price Chart Analysis

Recently, there was a strong rally in Ethereum above 0.0305 and 0.0310 against bitcoin. ETH to BTC gained bullish momentum and broke many important resistances near 0.0315BTC. It even gained pace against the USD, similar to EOS, ripple, litecoin and bitcoin cash.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price formed a strong support base near the 0.0300BTC level. As a result, there was a fresh increase above the 0.0310BTC resistance level and the 100 simple moving average (4-hours).

During the rise, the price broke
the 61.8% Fib retracement level of the last decline from the 0.0320BTC high to
0.0300BTC swing low. Moreover, there was a break above a major bearish trend
line with resistance at 0.0315BTC on the 4-hours chart of the ETH/BTC pair.

The pair is now trading nicely
above the 0.0315BTC and it recently tested the last swing high near 0.0320BTC. At
the moment, the price is consolidating gains near 0.0320BTC.

On the downside, an initial support
is near the 0.0315BTC level or near the broken trend line. If there are more
losses, the price could test the 0.0310BTC support area.

Conversely, if there is an upside
break above 0.0320BTC and 0.0322BTC, the price could accelerate higher towards
the 0.0330BTC level.

An intermediate resistance for
Ethereum price is near 0.0325BTC or the 1.236 Fib extension level of the last decline
from the 0.0320BTC high to 0.0300BTC swing low. Overall, ETH is trading with a
positive bias above 0.0315 and it could continue higher towards 0.0330BTC.

 The market data is provided by TradingView.

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Ethereum Price (ETH) Preparing For Fresh Increase Versus Bitcoin (BTC)

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price rallied
significantly above the 0.0300 resistance against bitcoin. ETH to BTC is
currently correcting lower, but dips remain well supported near 0.0305BTC and
0.0300BTC.

Key Talking Points

  • Ethereum price surged higher above the 0.0300
    and 0.0320 barriers against bitcoin.
  • There is a major declining channel in place with
    resistance at 0.0322BTC on the 4-hours chart of the ETH/BTC pair (data feed
    from Poloniex).
  • The pair is moving lower and it seems like the
    price could test the 0.0306BTC support before climbing higher.

Ethereum Price Chart Analysis

Recently, there was a strong rally in Ethereum above 0.0280 against bitcoin. ETH to BTC surged and broke the main hurdles near the 0.0305BTC and 0.0320BTC levels. The price rallied to 0.0348BTC and recently started a downside correction, similar to EOS, ripple, litecoin and bitcoin cash.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price surged above 0.0320BTC, traded as high as 0.0348BTC and settled above the 100 simple moving average (4-hours).

Recently, there was a pullback
below the 0.0340BTC level and the 23.6% Fib retracement level of the last wave
from the 0.0244BTC low to 0.0348BTC high.  More importantly, there is a major declining
channel in place with resistance at 0.0322BTC on the 4-hours chart of the ETH/BTC
pair.

The pair seems to be heading towards
the key support near the 0.0310BTC and 0.0306BTC levels. The channel support is
also close to the 0.0306BTC level, below which the price may test 0.0300BTC.

The 50% Fib retracement level of
the last wave from the 0.0244BTC low to 0.0348BTC high is also near the
0.0296BTC level to provide support.

The price is currently declining,
but there are many strong supports near the 0.0310BTC and 0.0306BTC levels. Therefore,
there are chances of a strong bounce above 0.0320BTC. An initial resistance is
at 0.0322BTC, above which Ethereum price could surge above 0.0330BTC.

The overall price action is very
positive and the recent pullback in ETH/BTC could be considered as a solid
buying opportunity near 0.0310BTC or 0.0300BTC. On the upside, targets could be
0.0335BTC or 0.0350BTC.

 The market data is provided by TradingView.

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Ethereum Golden Cross Could Spell Greater Gains

Ethereum has been on a rip recently. Just over the past
seven days ETH prices have surged
20 percent
from just over $200 this time last Tuesday to $250 today. The
fabled golden cross could signal greater upwards movement as the uptrend has
now been confirmed.

Ethereum Remains Bullish

Many had expected crypto
markets to tumble
following a negative announcement from the US SEC
yesterday regarding the VanEck ETF proposal. The most likely outcome actually
materialized, which was a further delay by the lethargic regulators who
continue to drag their feet with anything crypto related.

During Asian trading today ETH has fallen below $250 after touching
an intraday high of $254 a few hours ago. It is currently in a bullish pennant
as noted by several traders on twitter. One has also observed the golden cross
with the 50 day exponential moving average crossing above the slower 200 day
EMA;

This is a bullish trend reversal signal which would signal
further gains in the longer term. In terms of Bitcoin the charts there show
continued support at the downtrend line which has just been broken.

Ethereum is also currently having record trading volumes
according to Coinmarketcap.
During its 2019 peak last Thursday ETH volume was just below $20 billion, the
highest it has ever been. The price hit resistance at $275 before pulling back
to around $240 where it has been for the past few days.

Volume at the moment is around $10 billion which is four
times what it was in early February. Using different metrics from Coinbase,
Coindesk reported that ETH volumes were the highest they have been since December
2017 when it surged from $450 to over $800. Including the exchanges new ETH
pairs in addition to the most popular two – ETH/BTC and ETH/USD – activity was
worth over $1 billion during the seven day period.

In terms of market capitalization Ethereum has powered away
from XRP, which once held second place albeit very briefly. A $10 billion gap
now exists between ETH on $26 billion and the Ripple token at $16 billion. BitMEX
data
has indicated that there could be a pullback for Ethereum but all
other signals are bullish.

From a technical standpoint, big things are in store for the network as the Serenity phased upgrade to ETH 2.0 approaches. This will silence its critics which are largely from rival dApp networks. Major improvements to scalability and a switch to proof of stake will be the torch that lights up the Ether flames again.

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Ethereum (ETH) Independence from Bitcoin BTC: Stellar XLM and NEM Follow

Ethereum

Per time of writing, the second largest cryptocurrency by market capitalization is continuing to grow further away the distance from the third and first-seat follower Ripple’s XRP as ETH has performed majorly positive for the last two days. The pair ETH/USD is changing hands at $261.10 with 9.15% increase in the past 24-hours which marks a trading ground not touched since end of October 2018.

Source: coinmarketcap

Clearing the resistance trend tanking since beginning of January opened gates for more increase and a positive sentiment created and seen overall in the Ethereum-community everywhere in social media platforms or news aggregators reflecting the possible summer outcome which ETH experienced in 2017.

Just a few hours ago – Darryn Pollock from EWN covered:

Ethereum’s Decentralization in Question with 376 Wallets Holding One-Third of All ETH

Latest News – The world’s fifth largest electrical company has announced a partnership with Ethereum app iExec that will involve the company utilizing the decentralized application (DApp) in a project test. EDF, which operates a $33 billion market capitalization, has launched GPUSH on iExec, a visual simulator software that is now available through the DApp operator. EDF reports that launching there program through a DApp gives them access to the Ethereum Mainnet, which, among other things, will allow them to test the software in the context of a blockchain.

Similarly, Stellar Lumens XLM is welcoming 8.81% in the green for the last 24-hours against the US Dollar leaving behind Cardano ADA by market capitalization for $400 million. However, the only double digit gain out of the top 20 ranked coins in coinmarketcap is NEM with 29.50% upward movement reaching a price of $0.0941.

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Ethereum Price (ETH) Starts Crucial Uptrend Versus Bitcoin (BTC)

Ethereum Price Chart Analysis ETH BTC Chart

Ethereum price finally found
support near the 0.0245 level against bitcoin, and rebounded nicely. ETH to BTC
likely started a decent uptrend above 0.0300BTC and it could even hit 0.0380BTC.

Key Talking Points

  • Ethereum price started a strong upward move
    after trading as low as 0.0245 against bitcoin.
  • There was a break above a major bearish trend
    line with resistance at 0.0288 on the 4-hours chart of the ETH/BTC pair (data
    feed from Poloniex).
  • The pair is surging higher and it could soon
    break the 0.0330BTC and 0.0350BTC resistances.

Ethereum Price Chart Analysis

In the past three days, there was a strong rally in bitcoin, litecoin, Ethereum, EOS, bitcoin cash, ripple, and others against the US Dollar. More importantly, ETH to BTC also started a decent recovery after trading as low as 0.0245BTC.

Ethereum Price Chart Analysis ETH BTC Chart

Looking at the chart, the price gained bullish momentum after it broke the 0.0278BTC resistance and the 100 simple moving average (4-hours). There was a proper close above the 0.0280BTC level to start a decent uptrend.

More importantly, there was a
break above a major bearish trend line with resistance at 0.0288 on the 4-hours
chart of the ETH/BTC pair. The pair even cleared the 76.4% Fib retracement
level of the last decline from the 0.0314BTC high to 0.0245BTC low.

It opened the doors for more
gains and the price rallied above the 0.0314BTC swing high. It is now
approaching the next resistance near the 0.03305BTC.

Besides, the price is likely to
test the 1.236 Fib extension level of the last decline from the 0.0314BTC high
to 0.0245BTC low at 0.03307BTC. If there are further gains, the price is likely
to surge towards the 0.0350BTC resistance.

The next stop could be 0.0370BTC
or the 1.618 Fib extension level of the last decline from the 0.0314BTC high to
0.0245BTC low.  Conversely, if there is a
downside correction in Ethereum price, the 0.0314BTC level is likely to act as
a support in the near term.

The overall price action is very
positive and suggests more gains in ETH to BTC above the 0.0330BTC and
0.0350BTC levels in the coming sessions.

 The market data is provided by TradingView.

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