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

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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.

The post Ethereum Price Analysis: ETH/USD Solid, adds $3.39 Billion in Three Days appeared first on Ethereum World News.

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Ethereum Blockchain (ETHLend) Partners With Kyber Network

In a bid to enhance better lending service, ETHLend, a network built with Ethereum blockchain with the aim of offering secured loan to user has partnered with Kyber Network, a decentralized Ethereum-based protocol that grants “instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity.”

The head of business at Kyber Network, TN Lee in a statement said, “We are proud to announce that our exchange will integrate with ETHLend to provide instant asset liquidation and token pairing in the first ever decentralized lending marketplace.”

The partnership, which is a great addendum for ETHLend was stemmed by the altcoin’s recent update.

The collaboration will now make the loan network an exchange medium, granting users more preference to “zero fee lending” service of ETHLend. The Kyber platform will now enhance effective and frictionless lend pairs for each ERC20 token in ETHLend DApp.

While acknowledging the partnership, the founder of Kyber, Loi Luu said, “ETHLend provides an exciting financial use-case for blockchain technology. Our partnership embodies our vision to become a solution to empower businesses. With Kyber on the platform, the lender can finance a loan in one token type, while the borrower receive the loan in another. This interaction could bring about greater innovation that could spur the development of the entire blockchain sector.”

On the other side, Stani Kulechov, founder of ETHLend also believes the collaboration will create new and great dimensions for the growth of both firms.

“Kyber provides the decentralized technology to convert LEND to Ethereum or ERC-20 tokens. With Kyber, ETHLend becomes an even stronger participant in the cryptolending market. This strategic partnership is an opportunity for both of us to show how decentralized project interoperability is creating the future of financial applications.”

The wedding of the two platforms will make it possible for holders of LEND/KNC token to use their coin for transaction on the new affiliate’s platform.

Kyber Network

Kyber Network is a decentralized exchange platform for cryptocurrency. It is a trustless exchange system that grants instant conversation of digital currencies. Kyber protocol enhances the liquidating of crypto-assets in blockchain ecosystem.

 (LEND) is a decentralized lending platform built on Ethereum Blockchain that allows everyone to lend in a free market with fair interest rate. Without loss of capital, users can borrow Ether using LEND.

The network development team is striving to create a universal market place where users can borrow at a minimum interest rate.