Crypto Analyst Who Nailed Ether’s Climb To $3400 Says $10,000 Is Next

Of these 72 million, 60 million were allocated to the initial contributors to the 2014 crowd sale that funded the project, and 12 million were given to the development fund. Looking at the chart, the price is under a lot of bearish pressure below $410. The next supports are at $395 and $384, followed by the all-important $375. There is a major declining channel in place with resistance at $410 on the hourly chart of ETH/USD . However, the major cryptocurrency hit the wall at 395 USD, leaving 400 USD unchallenged. Currently, ETH/USD is wavering around 383 USD in the midst of a continuing retreat. Mobile App Buy, sell, earn and exchange crypto anywhere and anytime.

After the price action completes 5 waves in wave 4 , the uptrend should break the pattern and move north . For some reason, Ethereum began a downswing till the end of February and closed the month at $1325. The good news is the bulls can be hopeful because the start of March is recording a gradual upswing that could see ETH break above $1500. The bulls on the other hand are afraid ETH could continue its downward trend after a slight drop from $1487 to $1469 on the 1-day chart. On the reverse side, the bull breakout bar should be at the back of strong volumes exceeding the last 10-day average of 130k. Before Sep 5 breakout bar, average volumes stood at around 200k.

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This CryptoPunk #6965 sold on the 19th of February 2021 for 800 ETH currently worth about $1,608,032 valued at $2,010 per ETH. The next support zone is the 38.2% Fib or 50% Fibonacci levels. These Fibs are expected to act as support and should create some bounce to the upside. Waves 4 are usually choppy, corrective, and shallow retracements. The 23.6% Fibonacci level already acted as support but price action broke below it.

This Hashmask #9939, with the name ‘sex,’ sold on the 3rd of February 2021 for 420 ETH, currently worth about $844,216 valued at $2,010 per ETH. This CryptoPunk #6487 sold on the 21st of February 2021 for 550 ETH currently worth about $1,105,500 valued at $2,010 per ETH. This CryptoPunk #2890 sold on the 24th of January 2021 for 605 ETH currently worth about $1,216,074 valued at $2,010 per ETH. This CryptoPunk #4156 sold on the 18th of February 2021 for 650 ETH currently worth about $1,306,526 valued at $2,010 per ETH.
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On the upside, price actions are limited by the 50 SMA in the 4-hour range. The trendline resistance has remained intact from the time Ether traded a new yearly high around $447. The chart shows an upward trend since the end of 2018, when the ETH price dropped to an almost two-year low, around USD 80. Even the severe fall in prices in March this year, when the cryptocurrency fell below 100 USD, did not shake their confidence. According to the on-chain data platform Santiment, Ethereum’s bullish divergence has been positive for seven out of the past eight months.
Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Ethereum token standards are the blueprints for creating tokens that are compatible with the broader Ethereum network. These include tokens that can be traded for one another as well as tokens that are inherently unique and cannot be mutually exchanged . Ethereum token standards were invented by Ethereum developers to help users create new digital currencies more easily, faster and cheaper than starting from scratch. According to the project’s official website, the annual inflation rate of ether is about 4.5%. Block rewards have been reduced two times since the first ever Ethereum block was mined. The reductions in block rewards aren’t programmed into Ethereum’s code like Bitcoin’s halving events are. Smart contracts are code-based programs that are stored on the Ethereum blockchain and automatically carry out certain functions when predetermined conditions are met. That can be anything from sending a transaction when a certain event takes place or loaning funds once collateral is deposited into a designated wallet.
Pantera Capital CEO Dan Morehead expressed a similar level of confidence for bitcoin’s upside with his $115,000 price target by August, citing his model that tracks bitcoin like a commodity. After the network changes are implemented, Kaspar also believes a greener ethereum will begin to attract more institutional attention relative to bitcoin. Miners in China account for well over half of all the mining power on the network and investors like Kevin O’Leary of «Shark Tank» have increasingly taken issue with that connection. Kaspar says as more investors take note in the years to come, institutional dollars could propel ethereum to $100,000.
It’s free to open an account, and there is no obligation to fund or trade. You can also press $ or € on your keyboard, or start typing a currency name, currency code or country name to change currency. CurrencyConverterr will not be responsible for any trading decisions. Please be advised that LiteSpeed Technologies Inc. is not a web hosting company and, as such, has no control over content found on this site. ETH/USD is currently under consolidation, waiting for the next direction for the market movement. Price action should be able to reach the 38.2% Fibonacci level where support support is expected. If a triangle pattern does emerge, then there should be multiple ABC patterns visible in each leg. If this chart pattern emerges, then it indicates the end of the retracement. That should give a green light to the uptrend to continue for a new higher high. Price moved from $400-$500 to the $2,000 resistance level in just 3 months.

The bullish momentum is similar or even stronger than Bitcoin’s recent surge above $50k. However, the market should anticipate further weaknesses before ETH/USD finds its way above the $1600 resistance. Ethereum’s next resistance lies at $1,600 and it extended its price to $1,625 yesterday. It seems that the ETH/USD price is again on the path of development but we can only confirm this if it stays above $400. At the back of this is the need to address scalability and of course deal with centralization possibilities via ProgPow. Ethereum 2.0 or Serenity is where the platform is trudging to as network users defer on how best to progress. Axie Infinity price appears ready for a 27% bounce toward $121 if it manages to slice above the resistance line of the governing chart pattern. However, AXS may face ample challenges ahead before the bullish target could be reached.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. The price charts like the one you see on this page are convenient for use whenever you want to check the crypto values. The visual representation of the market data allows you to understand certain trends as well as assess the upcoming events and see how they can impact the activity on the markets. As you can see, the information updates in real-time so this way you can be sure that you’re moving together with the present situation and not missing out on the shifts. If you want to know whether you should or shouldn’t buy the token right now, check out its price history as well as today’s price movements on the chart. For example, the price of Ether means the correlation of 1 ETH to USD. In other words, how many US dollars you would pay to get one ETH token. Same works if you need to make an exchange from ETH to dollars. The prices may go up or down, and depending on your plans, both situations can turn out to be favorable for you. Currency World delivers instant currency conversion and fresh exchange rates in a user-friendly interface.
The author has not received compensation for writing this article, other than from FXStreet. Ava Labs, the developer of Avalanche , has been selected to join Mastercard Start Path Crypto, a startup engagement program dedicated to exploring blockchain technology. Ava Labs will connect with Mastercard’s ecosystem of partners and digital players across the globe to expand and accelerate blockchain technology innovation, they said. Programmable liquidity mining protocol izumi announced it has closed its Series A fundraising round of USD 3.5m. The funds are going to facilitate izumi’s native token launch, which will happen on December 20th, and will be followed by the launch of the izumi “LiquidBox” platform on December 21, they said. Over the long term, there’s been no better way to grow your wealth than investing in the stock market. But using the wrong broker could make a big dent in your investing returns.

A reversal is underway at the time of writing but buyers are keen on keeping the price above $400. Ethereum is one of the fastest growing cryptocurrencies on the market today. Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. Like other blockchains, Ethereum has a native cryptocurrency called Ether .ETH is digital money.
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After Ether reached 395 USD, where the cryptocurrency encountered resistance at the bearish 0.5 Fib level, the price has slightly decreased and is now around 375 USD. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Since hitting a 2-year high at $450 last week, Ethereum has been in a steady decline as it dropped by over 10% to current levels, below the $400 mark. Over the weekend, ETH found support at the $380 – $382 support area and rebounded.
In May 2021, the average transaction fee of the network peaked at $71.72. Ethereum has a total of eight co-founders — an unusually large number for a crypto project. Hourly RSI – The RSI is currently well below the 40 level and is signaling more losses. Hourly MACD – The MACD is gaining traction in the bearish zone.

A month later, Buterin asked Israeli-American Amir Chetrit to join his project. The two had worked together on a separate project called “Colored Coins” – which subsequently laid the foundations for the NFT market. In the next major phase of development, Ethereum’s Beacon chain will be bridged to the main Ethereum network and will replace the current, energy-intensive proof-of-work system with proof-of-stake. Network stakeholders known as “validators” will begin producing blocks, verifying transactions and managing the security of the blockchain in place of miners after Ethereum and Eth 2.0 are merged.

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You can see the order book and many other parameters you might need all on the same page for your convenience. You can also mark the pairs that you choose to monitor as Favorites and have easy access to them anytime you need. Our money converter uses the average data from International Currency Rates. Present, ETH/USD price is playing along two support channels, $1560 and $1460. Most market traders are short selling within this price range, a situation that wards off the bears. On Tradeview’s 24-hour chart, Ethereum already set a new monthly high for March against the US dollar at $1655. The chart started at $1580 but struggled to maintain an upward correction above the $1600 key resistance. While we’re 5 days off from an early start of March, Ethereum hit its lowest price on the 5-day trading chart today. This was a sharp drop that saw ETH/USD record $1447 and slightly recover towards $1487. It however turns out the coin is struggling to hit the $1500 mark.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money before trading CFDs. Now let’s talk about how the CEX.IO price chart might be useful for your daily trading and long-term holding. Say, you’ve decided to enter the crypto markets and after a thorough analysis, you found that it would be good to buy Ethereum. By the way, you can use ETH as a means of exchange for the already wide variety of decentralized apps, but we will talk about them in a moment. Right now, it’s important to understand what do you do in your first few steps after you’ve decided to engage in the crypto economy. Bulls should remain hopeful of a stable ETH/USD since it’s still trading well above the 100 hourly Simple moving average. Notwithstanding, technicals indicate a +2.63% increase on the 5-days moving average and a +285.87% change on the 100-days moving average.

• The 23.6% Fibonacci level already acted as support but price action broke below it.
• Bulls should remain hopeful of a stable ETH/USD since it’s still trading well above the 100 hourly Simple moving average.
• These Fibs are expected to act as support and should create some bounce to the upside.
• Then, the only step that’s left to do is to find a reliable place where you can exchange ETH to USD with the most favorable conditions.

Read more about Sell Litecoin here. That period goes back to March 2020, when the cryptocurrency traded at around $134. The Ethereum protocol officially launched in 2015 and quickly rose to become the world’s second-largest cryptocurrency by market value behind bitcoin. These contracts then have to be converted from high-level languages to low-level languages . That’s because a computer environment called the “Ethereum Virtual Machine,” or EVM, is where all smart contracts are deployed and executed. This EVM is built into every full Ethereum node and can carry out more than 140 different operation codes . These are essentially machine instructions that can be strung together to perform virtually any task, which is what the term “Turing-complete” refers to. Block rewards are new ether coins that are created when each new block is discovered and are given to the successful miner for their efforts. Once a block is added, the rest of the mining network verifies it to make sure the balances are correct and the transaction isn’t a “double-spend,” i.e., someone isn’t trying to spend money they don’t have.
It was launched in July 2015 and first traded on August 7 for $2.77. It’s always fun to play the «what if?» game with investments, especially when top cryptocurrencies have soared in value since being launched. If that’s something that intrigues you, keep reading to see how much you would have made if you’d invested in Ethereum from day one. According to other technical levels highlighted by indicators such as the RSI, Ethereum is likely to extend the bearish leg under $400. The RSI is pointing sharply downwards and a slide below the average and towards the oversold is expected in the short term. Against Bitcoin, Ethereum attempted to break the 0.035 BTC resistance today but got was rejected and now facing a huge support zone. In November 2013, he released the Ethereum white paper – a technical document that outlined the vision and technology behind the proposed project.

ETH/USD Possibly forming a big head and shoulders pattern with some divergences on 4hr timeframe. Risky to long without confirmations at the moment but can be a good long setup forming here. The news came from a Saturday afternoon press release from the Washington Senate Republican Caucus. There are plans, however, to transition the network to a proof-of-stake algorithm tied to the major Ethereum 2.0 update, which launched in late 2020. Interestingly, less than two months after the London upgrade was implemented, the network had burned over $1 billion worth of Ether. A part of every transaction fee is burned and removed out of circulation. This is intended to lower the circulating supply of Ether and potentially increase the value of the token over time. In addition to the high cost of transactions, the leading altcoin also suffers from scalability issues. The Ethereum network has been plagued with high transaction fees, often buckling at seasons of high demand.
Our experts have ranked and reviewed thetop online stock brokers- simplyclick hereto see the results and learn how to take advantage of the free trades and cash bonuses that our top-rated brokers are offering. This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the «Website» or «Service»). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah – Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates. The cryptocurrency community expects one of the most important events in Ethereum’s history to take place in the coming months – the launch of ETH 2.0. Upgrading marks the transition from the current Proof of Work consensus algorithm to Proof of Stake . Keep updated with our round the clock and in-depth cryptocurrency news.