Ethereum (ETH) Reviews - Page 4

Notice how Ether’s price has been downtrending for 75 days, respecting a channel that currently holds $2,200 as a support level. On the other hand, a 19% price increase from the current $2,500 to the $3,000 resistance would not necessarily mean a trend reversal. Curiously, call (buy) option instruments vastly dominate Friday’s $1.1 billion expiry, but bears are better positioned after Ether price stabilized below $3,000. A broader view using the call-to-put ratio shows an 82% advantage to Ether bulls because the $680 million call (buy) instruments have a larger open interest versus the $410 million put (sell) options. However, the 1.82 call-to-put indicator is deceptive because the price drop below $3,000 caused most bullish bets to become worthless. For example, if Ether’s price remains below $2,500 at 8:00 am UTC on Jan. 28, only $57 million worth of those call (buy) options will be available. That effect happens because there is no value in the right to buy Ether at $2,500 if it is trading below this level. Data suggests bulls are set for a significative loss. Below are the three most likely scenarios based on the current price action. The number of options contracts available on Friday for bulls (call) and bear (put) instruments vary depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit: Between $2,200 and $2,400: 3,200 calls vs. 121,500 puts. The net result is $270 million favoring the put (bear) instruments. Between $2,400 and $2,700: 19,500 calls vs. 95,500 puts. The net result favors bears by $190 million. Between $2,700 and $2,900: 34,700 calls vs. 73,400 puts. The net result favors the put (bear) options by $110 million.

Ether (ETH) has continued its down move and is close to the support at $2,928.83. The bulls may attempt to defend this level and start a relief rally. If that happens, the ETH/USDT pair could rise to the 20-day EMA ($3,381). This is a key resistance to watch out for because a break above it will be the first indication that the bears may be losing steam. A break and close above the channel will signal a possible change in trend. The pair could then start its upward march toward $4,200. On the contrary, if the price turns down from the current level or the 20-day EMA, it will increase the possibility of a break below $2,928.83. If that happens, the pair could slide to the strong support at $2,652.

Ether (ETH) is correcting in a strong uptrend. Both moving averages are sloping up and the RSI is in the positive territory, indicating that bulls have the upper hand. Although bears have been attempting to pull the price below the 20-week EMA ($3,745), the long tail on the candlesticks of the past few weeks shows that bulls are buying aggressively at lower levels. The bulls will now make one more attempt to clear the overhead hurdle at the psychologically critical level at $5,000. If they succeed, the ETH/USDT pair could start the next leg of the uptrend with the first target at 100% Fibonacci extension level at $5,719.68. If the momentum carries the price above this level, the next target to watch out for is the 138.2% Fibonacci extension level at $6,566.19 and then the 161.8% extension level at $7,089.17. Contrary to this assumption, if the price turns down from the current level or the overhead resistance and breaks below the 20-week EMA, it will signal that traders are selling on rallies. That could open the doors for a possible drop to the strong support at $2,652. This is an important level to watch on the downside because a break below it could pull the pair to $1,700.

Ether’s (ETH) failure to sustain above the 20-day EMA ($4,011) could have attracted selling from short-term traders. The price turned down sharply on Dec. 28 and has dropped close to the strong support at $3,643.73. If the price rebounds off the support, the bulls will make one more attempt to push the ETH/USDT pair above the 20-day EMA. A break and close above $4,200 could signal that the corrective phase may be over. The pair could first rally to $4,488 and then challenge the all-time high at $4,868. However, the downsloping 20-day EMA and the RSI in the negative zone indicate that the path of least resistance is to the downside. If the $3,643.73 support cracks, the pair could decline to the 200-day SMA ($3,353). This level may act as a strong support but if it cracks, the pair could plummet to $2,800.

The bulls are attempting to push and sustain Ether (ETH) above the descending channel and the 20-day EMA ($4,055). If they succeed, it will suggest that the corrective phase could be over. The buyers will then attempt to propel the price to $4,488 and next to the all-time high at $4,868. A break and close above this resistance will indicate the resumption of the uptrend. The pair could then rally to $5,859. Contrary to this assumption, if the price turns down from the current level, it will suggest that the sentiment remains negative. The bears will then try to pull the price below $3,643.73. If they do that, the ETH/USDT pair could drop to the 200-day SMA ($3,302).

Ethereum transaction energy use equals 2.5 miles in a Tesla Model 3. One Ethereum transaction uses enough energy to power a house all day, but how much does the fiat financial system use? According to Cointelegraph Research’s original investigation into the most energy-efficient blockchains for nonfungible tokens (NFT), the Ethereum network is currently using more energy than Costa Rica does during an entire year. To put this into perspective, a single transaction on Ethereum uses roughly 30 kilowatt-hour, which is equivalent to powering a house in the United States for a whole day. 100 Ethereum transactions is equivalent to driving approximately 390 kilometers in a Tesla Model 3. However, Ethereum’s upcoming move to Eth2 will change all of this for the better. In contrast, a transaction on Tezos takes 0.0016 kWh or less than the energy required to charge an Apple Tablet for 10 minutes. 100 Tezos transactions is equivalent to driving 10 km in a Tesla Model 3. The energy use of the entire Tezos network is approximately equivalent to two households in the U.S. for the whole year. One question, though, is how competing blockchains such as Tezos, Polkadot and Solana will perform on the market once Ethereum transitions to Eth2. Blockchain energy consumption has been subject to intense debate. While NFTs are present on several blockchains, the new research report only compared energy consumption on two chains. Energy consumption is directly related to a blockchain’s consensus mechanism, where Ethereum represents proof-of-work (PoW) and Tezos is used as an example of proof-of-stake (PoS).

Ether (ETH) rebounded off the 50-day SMA ($4,082) on Nov. 17 but the bulls could not clear the overhead hurdle at the 20-day EMA ($4,387). This intensified selling and the price dipped below the 50-day SMA on Nov. 18. The bears could not sustain the selling pressure at lower levels, which may have attracted strong buying from the aggressive bulls. The bulls pushed the price back above the 50-day SMA on Nov. 19 and the ETH/USDT pair could now reach the 20-day EMA where the bears may again pose a stiff challenge. If the price turns down from the 20-day EMA, the bears will try to pull and sustain the pair below $3,956.44. That could clear the path for a possible decline to $3,371. Alternatively, a break and close above the 20-day EMA will signal that the corrective phase may be over. The pair could then retest the all-time high.

Ether broke below the ascending channel on Nov. 15 and that was followed by further selling on Nov. 16, which pulled the price below the 20-day EMA ($4,439). This was the first close below the 20-day EMA since Oct. 1. The long tail on Nov. 17’s candlestick suggests that bulls are attempting to defend the 50-day SMA ($4,033). The 20-day EMA has started to turn down and the relative strength index (RSI) has dropped in the negative zone, indicating that bears are making a comeback. If the price turns down from the current level or the 20-day EMA, it will suggest that sentiment has turned negative and traders are selling on rallies. The ETH/USDT pair could then breach the 50-day SMA and plummet to the next support at $3,600. This bearish view will be negated if the pair rises from the current level and breaks above the 20-day EMA.

Ether broke above the all-time high at $4,375 on Oct. 29 but the bulls could not continue the up-move. The bears pulled the price back below the breakout level on Oct. 30, indicating that sellers are active up at higher levels. The ETH/USDT pair could drop to the 20-day EMA ($4,010), which is an important support for the bulls to defend. If the price bounces off this support, the bulls will try to thrust the pair above $4,460.47. If that happens, the pair could resume its journey toward the psychological mark at $5,000. On the contrary, a break below the 20-day EMA could result in a decline to $3,888. If the price rebounds off this level, the pair may remain range-bound for a few days. The bears will have to pull and sustain the price below $3,888 to gain the upper hand. That could open the doors for a decline to the 50-day SMA ($3,564). The pair has been trading inside an ascending channel for the past few days. If the price rebounds off the 50-SMA, the bulls will attempt to push the pair above $4,460.47. The pair could then rally to the resistance line of the channel. A break and close above the channel could accelerate the uptrend. Alternatively, if the price dips below the 50-SMA, a drop to the support line of the channel is likely. A bounce off this level could keep the uptrend intact but a break below the channel will be the first sign that the bulls may be losing their grip.

ETH price is on the cusp of a new all-time high and derivatives data shows bulls may attempt to capture it ahead of Oct. 29’s $1.25 billion Ethereum options expiry. Ether (ETH) has gained 950% in 2021 and from the look of things, the altcoin has no intention of stopping. This can also be seen in the ultra-optimistic bets for October’s $1.25 billion options expiry. However, this phenomenon is not exclusive to Ether bulls. The right to acquire Ether at a fixed price in the future does not come at a cheap price. On Sep. 4, the $5,000 call option for Oct. monthly expiry was trading at ETH 0.082 which is equivalent to $320. Unfortunately, for the bulls, these options are now worthless. Gas fees on Ethereum transactions are still above $25 and this will continue to favor competitor blockchains with their own decentralized finance (DeFi) and nonfungible token (NFT) markets. Even with these high fees, the leading smart contract network still holds 80% or higher total value locked (TVL) and decentralized exchanges (DEX) volumes. The bullish trend that initiated on Sep. 21 has been driving Ether price on a path to break its $4,380 all-time high in a couple of weeks. urthermore, Ether bulls will also be pleased to know that ETH 2.0's Altair upgrade was successful, with 99% of the nodes upgraded. This is the first upgrade since the Beacon Chain went online in December 2020 and the main changes include support for lightweight nodes and increased penalties for validators being offline.

Ether dropped in value against Bitcoin by almost 25% after topping out in September at 0.07955 BTC. As the top altcoin declined, it left behind a trail of lower highs and lower lows, thus forming an ascending channel. Later, ETH/BTC broke the channel to the upside on Saturday, raising anticipations about a strong extended recovery trend. But a selloff on Sunday and the ongoing session had traders test the channel’s resistance trendline as support.

Ether (ETH) has rebounded off the 20-day EMA ($3,390) for the past three days, indicating that bulls are accumulating on dips. The bulls will now try to push the price to the neckline of the inverse head and shoulders (H&S) pattern. A breakout and close above the neckline will complete the bullish setup, which has a target objective of $4,657. The gradually rising 20-day EMA and the RSI above 55 indicate a modest advantage to the bulls. However, the rally may not be linear as the ETH/USDT pair could face stiff resistance at $4,027.88 and later at $4,372.72. Contrary to this assumption, if the price turns down from the current level or the neckline and breaks below the moving averages, the ETH/USDT pair could drop to $3,160 and later to the psychological support at $3,000.

The bulls pushed Ether (ETH) above the downtrend line and the moving averages on Oct. 1, but the bears have not thrown in the towel yet. The sellers are attempting to stall the up-move near $3,500 and pull the price back below the 50-day SMA ($3,297). If they manage to do that, the ETH/USDT pair could drop to the 20-day EMA ($3,194). This is an important support for the bulls to defend because a break below it could attract further selling. The pair may then drop to the psychological level at $3,000 and later to the 100-day SMA ($2,841). Alternatively, if the price rebounds off the moving averages, the bulls may make one more attempt to propel the price above $3,500. If the price sustains above this resistance, the pair could rise to $3,676.28 and then to $4,000.

The long tail on Ether’s candlesticks of the past three days shows that bulls are buying aggressively near the 100-day SMA ($2,756). Hence, this becomes an important level to watch out for. The 20-day EMA ($3,193) is sloping down and the RSI is just below the midpoint, indicating that bears have a slight edge. If the price turns down from the current level, the ETH/USDT pair could consolidate between the moving averages for a few more days. A break and close below the 100-day SMA could intensify selling and the pair may drop to $2,400 followed by a drop to $1,972.12. On the other hand, a break and close above the 20-day EMA will be the first sign of strength. The pair could then rise to $3,600.

The ETH price dropped 40%, from $4,020 to $2,650 in just three days last week, from September 20 to September 22. At the same time, JPMorgan bank strategist Nikolaos Panigirtzoglou believes that it should be even lower. In his opinion, the fair price for this altcoin is $1,500, based on the metrics of network activity. The opposite view is taken by cryptocurrency trader and analyst Lark Davis, who said that ETH will reach $10,000 in the coming weeks. He noted that large investors, banks and corporations continue to invest in the ethereum ecosystem. Davis cited its limited supply in the market as another factor in favor of altcoin growth. 87% of Ethereum coins have not moved for more than three months, indicating investor reluctance to sell their savings. In addition, a significant shortage is created by burning of underlying transaction fees as well as by an increase in ethereum 2.0 staking deposits.

Ether plummeted and closed below $3,000 on Sept. 20, which completed the bearish head and shoulders pattern. Usually, the breakdown from the neckline is retested and that is what happened on Sept. 22. The moving averages have completed a bearish crossover and the RSI is in the negative zone, indicating advantage to bears. If the price turns down from the current level, the bears will attempt to resume the down move toward the pattern target at $1,972.12. Conversely, if bulls sustain a price above $3,000, it will indicate an accumulation on dips. The ETH/USDT pair could then rally to the 20-day EMA ($3,303), which may again act as a stiff resistance. A breakout and close above this level could signal that bulls are back in the game.

Bitcoin and Ethereum have started the week on the back foot and the massive bullish signal that traders were focused on, the golden cross, seems to have lost its lustre. Crypto traders are certainly going to wake up to a rough day and it is likely that Bitcoin price may touch the early 40K price level now as the price has failed to keep its upward momentum. The situation is no different for Ethereum as well and it is highly likely that we may see more sell off for Ethereum today as well as bulls are not in control of the price. Having said that, investors should keep in mind that both coins at a lower price could be the best opportunity to bag some bargains as there is still plenty of evidence that large family offices and institutional traders are still buying Bitcoin.

Ether (ETH) has been sandwiched between the moving averages for the past few days. This suggests that bulls are buying on dips to the 50-day simple moving average (SMA) ($3,129) and bears are selling on rallies to the 20-day EMA ($3,413). The 20-day EMA is gradually sloping down and the RSI has dropped below 46, indicating that bears have the upper hand. If bears pull the price below the 50-day SMA, the ETH/USDT pair could witness further selling, resulting in a decline to $3,000. This is an important support for the bulls to defend because a break below it could result in panic selling. On the contrary, if the price rebounds off the 50-day SMA, the bulls will again try to push the price above the 20-day EMA. A breakout and close above $3,567.06 could tilt the advantage in favor of the bulls. The buyers will then try to push the price to $4,000.

Ether (ETH) broke above $4,000 on Sep. 3 but the bulls could not sustain the higher levels. This shows that bears are defending this level aggressively. However, a positive sign is that buyers have not given up much ground. This suggests that bulls are in no hurry to book profits because they anticipate the up-move to continue. Although the upsloping moving averages signal advantage to buyers, the negative divergence on the RSI suggests that the bullish momentum may be weakening. If bears pull the price below $3,700, the ETH/USDT pair could drop to the 20-day EMA ($3,493). A strong rebound off this support will indicate that bulls continue to accumulate on dips. The buyers will then try to push the price toward the all-time high at $4,372.72. Alternatively, a break below $3,377.89 may indicate a possible change in trend.

Amid the continued weakening of the dollar and rising risk appetite, the BTC/USD pair is trying to gain a foothold above the important psychological level of $50,000 for the second week. It broke through this resistance for the third time and reached $51.085 at the time of this writing, on Friday September 03. The Crypto Fear & Greed Index added just 1 point for the week, rising from 71 to 74. But the total crypto market capitalization has grown from $2.021 trillion to $2.275 trillion. And the core cryptocurrency accounts for only about $58bn: bitcoin's dominance continues to decline. It fell from 43.77% to 41.41% in seven days, while ethereum is improving its position step by step. So, if the share of ETH was 18.07% of the total market capitalization on August 28, it was already 20.45% on September 03. Many analysts and influencers continue to sing difirambs to ethereum, preening that it will push bitcoin back to the second line at some point. A week ago, we cited the opinion of the creator of this altcoin, Vitalik Buterin, who expects the price of ETH to reach $30,000. In this case, the capitalization of the coin will rise to $3 trillion, and exceed the capitalization of all major technology companies in the world.