Connect with us

Cryptocurrencies

Ethereum Prices Stabilize After Bullish Breakout

Published

on

Ethereum stabilized against the dollar Friday, after a bullish advance took the world’s No. 2 digital currency back toward the $300 price range.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Bulls Stop Short at Psychological Level

A bullish breakout on Thursday sent ether prices surging toward the all-important $300 level. The ETH/USD maxed out around $287 on Thursday before falling $30 in subsequent hours. In the process, ether fell through the 50% Fibonacci retracement level of the Sept. 18 breakout.

The ETH/USD is up more than 2% during Asian trade, with prices hovering around $264. The latest pullback pushed ether into oversold territory, according to the Relative Strength Index. In the process, prices have moved below the 100-day simple moving average (SMA).

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Ethereum briefly fell below $200 last week after China moved forward with its ban on ICOs. Chinese authorities are now ordering bitcoin exchanges in the capital to close as its attack on cryptocurrency widened. All bitcoin exchanges in Beijing and Shanghai have submitted plans to wind down their operations.

China is taking a knife to cryptocurrency as part of a plan to reduce the country’s exposure to financial risk. Savvy mainland investors have used digital currency to reduce their exposure to the yuan, a volatile currency that has been systemically devalued since mid-2015.

As it turns out, bitcoin traders are moving to Japan for more favorable regulations. The Japanese government has decided to recognize the blockchain, setting the stage for large uptake in the world’s third-largest economy.

Coindash Hacker Returns $3 Million Worth of Ether

In a surprise twist, a Coindash hacker has reportedly returned $3 million USD worth of stolen ether funds to his victim. The attack was carried out two months ago when hackers hijacked Coindash and redirected more than $7 million worth of ether into their private coffers.

Ether rose sharply through the latter half of summer, making the pot of stolen funds about $3 million more valuable at today’s prices.

The $3 million return transaction is listed on the blockchain and has been publicly announced by Coindash.

The Coindash platform combines cryptocurrency trading with social network capability for investors. This puts it in the same realm as eToro, a leading online financial broker that has pioneered social trading. It too has moved into the cryptocurrency sphere after starting off as a forex broker.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Cryptocurrencies

Trade Recommendation: Stellar

Published

on

The price bounces from SMA50 which is a support line for the market. MACD lines support upward movement. Also we can draw a pennant chart pattern which also confirms further upward movement. If the price breaks the resistance line of the pennant, this pattern will be realized as a continuation pattern. It will give us an additional confirmation of the upward movement. Pending orders for buy should be placed at 0.035000 level with stop orders at 0.028000 level. The main profit target should be at 0.048000 level. The part of trade volume can be left for the higher target at 0.070000 level. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Market: STRUSD
Buy: 0.035000
Stop: 0.028000
Profit Targets: 0.048000

The trading signal is based on Poloniex chart.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Cryptocurrencies

Trade Recommendation: Lisk

Published

on

A new attempt to catch a trend reversal. The price diverges with MACD and it gives us a buy signal on the falling market. DMI allows to open long trades. We should place pending orders for buy above the previous high at 0.000840 level. Stop orders must be placed below the support at 0.000680 level. Profit targets are 0.001200 and 0.001400 levels. The part of trade volume can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Market: LSKBTC
Buy: 0.000840
Stop: 0.000680
Profit Targets: 0.001200 and 0.001400

The trading signal is based on Bittrex chart.  

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Cryptocurrencies

Ether Prices Fall Below $300 Amid Technical Breakdown

Published

on

Ether declined against the dollar this weekend, and is now approaching a critical support level as the market corrected lower following last week’s failed rally.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

$350 Proves Elusive

ETH/USD was last seen trading around $293, down more than 1% from the previous close. Technical headwinds are limiting ether’s momentum, according to the MACD and Relative Strength Index (RSI).

Ether’s rally last week stopped short at $350 on two occasions, as the bulls disavowed their long positions. The subsequent breakdown through the weekend erased 16% from Ethereum’s value.

At present levels, the Ethereum blockchain is capitalized at nearly $28 billion, according to CoinMarketCap.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

The world’s second-largest digital currency by market cap faces immediate support near $290. On the opposite side of the spectrum, resistance is likely found in the $305-$310 region.

Upgrade Still Not Stable

Ether underwent a successful hard fork last week, but the blockchain has yet to be deemed stable by its chief developer Vitalik Buterin. Ethereum’s chief architect has already informed the market that up to two months of further testing may be needed to fully secure the blockchain.

The first leg of the Metropolis hard fork occurred last Monday after block 4,370,000 was mined. The blockchain successfully avoided a chain split even after Geth developers addressed a last-minute denial-of-service (DoS) vulnerability. Geth is the most popular software on the Ethereum network.

The Metropolis protocol will require a second update, called Constantinople, before it is function. No timeline for the Constantinople upgrade has been provided.

Ethereum has been one of the main participants of this year’s cryptocurrency rally. It has also emerged as the platform of choice for startups to launch their initial coin offerings (ICOs). The vast majority of ICOs covered by Hacked.com have been developed on the Ethereum blockchain. This weekend, the author conducted an in-depth review of Spectre, a broker-less trading platform powered by ether.

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Trending