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Ethereum Price Analysis: ETH Ready To Keep Growing

Ethereum Price Analysis: ETH Ready To Keep Growing

This analysis brought to you by RoboForex.

On Friday, November 20th, the ETH, a leading altcoin, is growing well, trading at 491.55 USD.

On D1, ETH/USD has broken through the upper border of the ascending channel. We may currently expect the quotations, after a minor correction, will keep on towards 38.2% Fibo. The MACD histogram is above zero, which is another signal for growth. The aim of the growth is the nearest resistance level of 550.00 USD.

On H4, the picture is more or less similar to that on D1: the quotations have broken through the upper border of the ascending channel. After a minor correction, the coin will have all chances for the development of the uptrend. The Stochastic has formed another Black Cross near the overbought area, increasing the probability of the correction before further development of the ascending dynamics with the aim at 550.00 USD.

Very soon, Ethereum will launch the zero phase of the Ethereum 2.0 network (according to preliminary announcement). Waiting for the start, the head of the company Vitalik Buterin in an interview to Reddit explained several issues connected to the activation of this most important update. For example, the PoS algorithm, not connected to mining, might be introduced much earlier than scheduled. In such a case, Buterin is expecting payments to speed up to 100,000 transactions per second. Also, updates in the Eth2 network must be installed quicker and more efficiently than now in Eth1.

Users can be sure that their finance will remain safe during the transition to Ethereum 2.0. Buterin guaranteed support in case something goes wrong — by a hardfork and adding an opportunity of money withdrawal via the depositary contract.

Some market watchers still think that on December 1st Ethereum 2.0 will not be launched because the depositary contract will not gather the money, necessary for the zero phase. On November 9th, the contract had only 10% of the sum; now it has 20%, but at such a speed, the sum is unlikely to be gathered by the beginning of December. However, we might still expect that by November 24th, stacking will speed up because the market is craving for the new network.

 

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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ETH/USD Bulls Eyeing 668.87 as Upside Target: Sally Ho's Technical Analysis 4 December 2020 ETH

ETH/USD Bulls Eyeing 668.87 as Upside Target: Sally Ho's Technical Analysis 4 December 2020 ETH

Ethereum (ETH/USD) extended its recent strong price activity as traders continue to eye the psychologically-important 650 level following the pair’s ongoing gains.  Notably, ETH/USD has appreciated approximately 77% since the beginning of October, and has appreciated approximately 64% since the beginning of November.  The pair has recently traded around its recently-established multi-year high around at the 636.53 level, an area that was reached after Stops were elected above another recent relative multi-year high around the 623.22 area.  This recent multi-year high also represented a test of the 637.79 level, an upside price objective related to buying pressure that emerged earlier this year around the 135.12 area.  Additional upside price objectives include the 668.87, 679.78, and 698.88 areas, levels that relate to buying pressure that emerged earlier this year around the 125.52, 122.15, and 116.25 areas.

Following the move to a recent multi-year high, traders are paying close attention to recent areas of upside buying pressure, including the 370.50, 423.00, 439.77, and 480.08 areas.  Some important retracement levels related to these ranges include 561.37, 534.91, 514.93, 503.52, and 472.12Below current price activity, additional areas of technical support include the 507.55, 474.77, 406.48, and 395.87 levels. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bullishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 567.55 and the 50-bar MA (Hourly) at 596.14.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 637.79/ 668.87/ 679.78 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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Joseph Lubin of ConsenSys discusses Ethereum 2.0 stating it will “Devour“ the network

Joseph Lubin of ConsenSys discusses Ethereum 2.0 stating it will “Devour“ the network

Quick take

1 minute read

  • Joseph Lubin contributor to Ethereum and founder of ConsenSys recently spoke during the Ethereum in the enterprise Asia-Pacific 2020 conference this week. 
  • During the conference, he predicted that Ethereum 2.0 is going to “devour“ the network in the short term.

Joseph Lubin contributor to Ethereum and founder of ConsenSys recently spoke during the Ethereum in the enterprise Asia-Pacific 2020 conference this week. During the conference, he predicted that Ethereum 2.0 is going to “devour“ the network in the short term.

He said:

“People in the know around the ecosystem are very optimistic about how fast things could unfold, as the really complicated work has been done in launching Phase 0.”

Joseph went on to say that the rollout of Ethereum 2.0 is “proceeding in parallel”. Essentially, this means that upgrades to the network could come quicker than many people are predicting.

He added:

“It is very likely will get a tremendous amount of data availability in the form of shards, as well as move lots of the important functionality from Ethereum 1 to Ethereum 2.0, and essentially see Ethereum 2.0 absorb Ethereum 1 in the not too distant future.”

Furthermore, he went on to predict that the next phase for 2.0 will become live in up to 12 months from now adding that the coming increasing amount of data availability will give way for layer two networks which will help them massively increase the amount of transactions per second that can be offered.

“Essentially Ethereum 2.0 represents a massive increase in scalability, so we’re already achieving tremendous scalability with layer-two networks.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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ETH/USD Holding 583.59 After Rebound Higher: Sally Ho's Technical Analysis 3 December 2020 ETH

ETH/USD Holding 583.59 After Rebound Higher:  Sally Ho's Technical Analysis 3 December 2020 ETH

Ethereum (ETH/USD) gained ground in today’s North American session as the pair appreciated to the 615.95 area after trading as low as the 586.11 area in the European session.  Notably, ETH/USD has appreciated approximately 77% since the beginning of October, and has appreciated approximately 64% since the beginning of November.  The pair has recently traded around its recently-established multi-year high around at the 636.53 level, an area that was reached after Stops were elected above another recent relative multi-year high around the 623.22 area.  This recent multi-year high also represented a test of the 637.79 level, an upside price objective related to buying pressure that emerged earlier this year around the 135.12 area.  Additional upside price objectives include the 668.87, 679.78, and 698.88 areas, levels that relate to buying pressure that emerged earlier this year around the 125.52, 122.15, and 116.25 areas.

Following the move to a recent multi-year high, traders are paying close attention to recent areas of upside buying pressure, including the 370.50, 423.00, 439.77, and 480.08 areas.  Some important retracement levels related to these ranges include 561.37, 534.91, 514.93, 503.52, and 472.12Below current price activity, additional areas of technical support include the 507.55, 474.77, 406.48, and 395.87 levels. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bullishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 567.55 and the 50-bar MA (Hourly) at 596.14.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 637.79/ 668.87/ 679.78 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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ETH/USD Orbiting 600.00: Sally Ho's Technical Analysis 2 December 2020 ETH

ETH/USD Orbiting 600.00: Sally Ho's Technical Analysis 2 December 2020 ETH

Ethereum (ETH/USD) rallied in today’s North American session as the pair appreciated to the 600.63 area after trading as low as the 575.08 area in the Asian session. The pair peaked around the 604.96 area in the European session before settling back to the 583.80 area. The pair spiked to the 636.53 level this week, a fresh multi-year high, after Stops were elected above the 623.22 area, a recent relative multi-year highStops were also triggered above the 627.83 area, an upside price objective related to historical buying pressure around the 80.60 area.  Chartists are carefully monitoring retracement levels following the climb to the recent multi-year high, and these include the 599.61 and 576.77 areas, below which Stops were recently elected.  Additional retracement levels include 558.31, 539.84, and 517.00 and Additional upside price objectives include the 638.28 and 652.36 levels.  The pair’s recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22, and price activity was recently buoyed above this area.

 Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   Stops were also recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bullishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 567.84 and the 50-bar MA (Hourly) at 598.79.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 637.79/ 668.87/ 679.78 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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