Ethereum (ETH and ETC) Price Trends (Week of August 15th)
Are Ethereum developers to blame for The DAO hack? Is Ethereum’s price ready for long-term growth, or will the negative news negatively impact the ETHUSD market? Time to choose a long-term direction. Cointimes news platform has accused Ethereum developers of being partially guilty in the theft of 750 thousand ETC. The money was distributed across several exchanges. Poloniex was used to withdraw a large part of 500 thousand ETC. The rest 250 thousand were transferred to accounts on the Kraken exchange. However, the exchanges’ administrators have frozen all assets which they’ve received.....
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Bitcoin is showing weakness as BTC price trades in a tight range, the number one crypto by market cap saw a small uptick in volatility during today’s trading session. However, the price action was smothered by poor performance in traditional equities. Related Reading: CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death At the time of writing, BTC price trades at $19,00 with a 4% loss in the last 24 hours and a 3% loss over the past week. As Bitcoin trends lower into support, the momentum indicator follows suggesting there is little conviction to resume....
The Ethereum upgrade introduced a mechanism that burns ETH every minute from transactions. Moreover, the recent frenzy and interest in NFTs have also taken the issue to another level. On 15th August 2021, the network recorded the highest burn rate of about 27.9 ETH/per minute. This amount came up as Ethereum users competed desperately for […]
The price of bitcoin tested resistance at $460 over the weekend ending 15th May, but failed to break through what could prove to be a key level going forward. Overall, the digital currency’s price fluctuated close to $460, a figure which has not been surpassed since 10th May, reaching as much as $458.87 on Sunday, 15th May, according to the CoinDesk USD Bitcoin Price Index (BPI). Further, a series of near misses in attempts to build momentum above this mark suggests that $460 could become a key benchmark for the price moving forward. For instance, bitcoin's price opened at $455.75 on 15th....
The bulls prevent Ethereum’s price from falling. Their active support could provoke the bears into giving up on their positions and thus leading to Ethereum’s growth. How long will this sideway movement continue? Ethereum’s price is forming a flat between two important resistance lines. The bulls’ support is clear at $10. The volume has accumulated at exactly that level, from which Ethereum’s price has been rebounding and moving up. The same can be said about the $14 mark. A similar situation is present at that level, albeit it favors the bears. They are not allowing Ethereum to grow by....
Yesterday, bitcoin price ranged between $235.5 and $239.33. Although bitcoin has been trading between $235 and $240 throughout the past few days, it seems that we will see it break out of this range soon. By studying the 1 hour Bitfinex (BTC/USD) charts from tradingview.com, drawing a trend line between the low reached on the 10th of February ($214) and the high reached on the 15th of February ($268) and plotting the Fibonacci retracement levels accordingly (look at the below chart), we can better understand the current market trends and we can also conclude the following: As shown by the....