Ethereum (ETH) Exhibits 7% Downtrend in 7-days Run

Ethereum price has reflected a tremendous fall in the price over the week. The price slipped from $189 to $185. The overall drop has registered 7% decline in the price of the ETH coin. The same is due to the current market scenario which not impressive. However, the loyal traders are still hopeful for an uptrend to embark soon. In the last seven days, Ethereum was seen touching a high at $189.33 and a low at $175.20.

Ethereum Price Analysis

Ethereum started the week at $189 on November 14, 2019. The intraday price movement marked a fall of 2.02% as the counter touched $185. The fall continued November 15 too. The price slipped to $180 by 2.78%. The escalation embarked on ETH on November 16 and took the price to $182 by 1.46%. The escalated remained intact on November 17. The price moved to $184 by 0.61%. On November 18, the ETH price slipped to $178 by 3.01%. Yesterday, the downtrend brought the price of Ethereum to $176 by 1.44%. Today, the opening hours took the price to $177 by 0.94%. However, the recent movement in price of Ethereum brought it down to $175.

Ethereum Price

The currency isn’t likely to be fruitful for the intraday traders. The current price of Ethereum is $175. The immediate support level at $174 is anticipated to be breached in the coming hours. There is a slight possibility for the currency to violate the next support level too. ETH is a result yielding coin. The same is recommended to opt for long term investors as it would bring the best result in the long run.

Resistance Level Price Support Level Price
R1 $181.59 S1 $174.26
R2 $185.73 S2 $171.07
R3 $188.92 S3 $166.93

Ethereum (ETH) Targeting Further Growth

$170.46 was Ethereum’s price on October 18, 2019; then it went up by 3.73% as of October 21, 2019. The lowest at which it got circulated is $158.23 two days later. The bulls managed to get their hold on ETH coin since October 25, 2019 due to rises. In between, the end of last month and first week of this month, Ethereum price has been in the range of $186.78 to $193.63.

Ethereum Price Analysis

As per the price comparison of November 13, 2019, with the present price, ETH coin is showing a down run by 6.17%. But, if we look the momentum of past few days, it can rise upwards and reach to next resistance $184.92 soon.

It is completely your discretion to invest further in ETH or take away a few coins. The trend since October 19, 2019 has been bearish until October 25, 2019, post which, it has managed to maintain consistency. Ethereum, being one of the top-notch currencies, will yield better returns in the long run.

Ethereum (ETH) Forecast

Will Ethereum (ETH) Gain Upward Momentum?

Ethereum was priced $174.71 on October 19, 2019, with bears dominating the coin. The lowest price at which it got traded over the last month was $158.10, dated October 23, 2019. Despite the drop, ETH coin managed to rise and show a growth of 23.55% the very next day. For the consecutive three days, Ethereum recorded a rise of 9.20% which happened on October 29, 2019. On November 6, 2019, the upside movement continued with price reaching $193.53. Currently, the coin exhibits an upward trend.

Ethereum Price Analysis

The ETH price comparison since November 15, 2019 shows that it is moving upwards by 2.21% today. The same movement likely to remain with ETH reaching its next resistance $187.

This is a decent time to sell a few coins in hand as per the present movement. The trend for the coin from October 18 until October 25 was bearish post, which Ethereum has managed to maintain its bullish stand. Trading from the long-term will prove to be profitable.

Ethereum Price

Ethereum (ETH) is Heading for Profitable Closing

Ethereum price was seen battling with the bear from the past couple of days. The traders who have dealt with ETH coin in the past must be aware of the momentum. The coin has the potential to turn the current slight improvement into heavy upsurge.

Yesterday, the currency touched a high of $186.25 and a low at $179.38. The volume marked by Ethereum was $8,815,678,477. Let’s have a look at the intraday chart of Ethereum.

ETH/USD Price Chart:

Ethereum Price Chart

Yesterday, Ethereum started dealing at $185. The price fell to $181 by 1.71% in the next few hours. Further, the price escalated to $186 by 2.57%. The ETH coin couldn’t hold at the level and took a tremendous fall of 3.88%. The price counter shifted to $179. The rest of the day was spent around $180. The intraday movement of the Ethereum reflected 2.63% regression. Today, the currency opened the day at $180. The price counters jumped to $181 by 0.85%.

Ethereum Price Prediction:

The traders dealing with cryptocurrencies are experiencing confusion. The currencies are inconsistent on the price chart, and thus the traders are waiting for stability. Well, the only coin reflecting consistent move among them is Ethereum. The coin is trading around $180 and thus spiking hope of upsurge among the traders.

The intraday trading in ETH coin is speculated to a profitable turn. The price is seen moving towards the immediate support level at $184. The next resistance level could be achieved in the coming hours.

Resistance Level Price
R1 $184.72
R2 $188.92
R3 $191.59
Support Level Price
S1 $177.85
S2 $175.18
S3 $170.98

The traders interested in Ethereum are recommended to opt for long-term investment. The specified period would give the desired result to the investors.

Ethereum’s Volatile Fluctuations of the Week Cost it 3.46%

Ethereum has shown volatility over the last seven days. There have been three major price fluctuations in these days, and it has made an overall 3.46% loss in the price against the US Dollar.

Ethereum Price Analysis

ETH coin opened the week at 188.05 USD, and in the next 13 hours and 15 minutes of November 08, it lost 6.55 USD to touch 181.50 USD. At 14:40 UTC, Ethereum price started gaining and with a 5.30% increment, it added 9.62 USD to touch 191.12 USD by November 10. The last variation happened between 16:25 UTC of November 10 and 19:50 UTC of November 14, and in these 4 days, Ethereum made a loss of 4.20%, and the price got down to 183.09 USD from 191.12 USD.

Ethereum Price

However, the market cap has shown a marginal hike in these seven days. The market cap of ETH coin on November 08 was 19.983 billion USD, and it has been increased to 20.033 billion USD in these last seven days.

Ethereum’s 20 days average is at 183.24 USD, and it’s 50 days average stands at 183.97 USD. Ethereum may find the next resistance around 188.09 USD.

Ethereum (ETH) Resistance and Support Levels
1st Resistance $188.09
2nd Resistance $190.18
3rd Resistance $191.73
1st Support $184.45
2nd Support $182.9
3rd Support $180.81

Ethereum (ETH) Weekly Growth Gets Hampered by Recent Price Crash

Ethereum price movement has been marking an improvement from the beginning of the month. The same was quite a relief for the traders who are planning for a long-term investment. However, the current price drop has changed the dynamics, but we are still hopeful that the coin might improve.

Yesterday, ETH price was spotted dealing at a high of $189.33 and a low at $185.94. During the entire week, Ethereum is spotted recovering. Let’s have a look at the ETH chart:

Ethereum (ETH) Forecast

Ethereum Price Prediction

On November 08, the ETH price started dealing at $186.45. The coin slipped to $183.72 by the end of the day by 1.46%. On November 09, the price shifted to $184.93 by 0.66%. Ethereum price jumped to $189.64 by 2.64% on November 10. On the next day, the currency shifted to $185 by 2.14%. On November 12, the price escalated to $186.81 by 1.01%. On the next day, the escalation continued and took the ETH price to $189.22 by 1.29%. Today, Ethereum is falling since the opening hour. The counter slipped to $184.89 by 2.29%.

Ethereum is currently dealing at $185. The price has breached the immediate resistance level at $186.36. There is a strong possibility for ETH to drop below the major support level at $182.

Resistance Level Price Support Level Price
R1 $189.75 S1 $186.36
R2 $191.23 S2 $184.45
R3 $193.14 S3 $182.97

Ethereum holds a high possibility of improvement. The currency is recommended for long-term traders. The specified period is anticipated to give a colossal profit.

Ethereum (ETH) Faces Extreme Volatility in the Last Week

  • Ethereum loses 1.79% value in the last week
  • It may find the next resistance at 188.46 USD

ETH coin has been through immense volatility over the last 7 days, like all its other peers. It has made an overall loss of 1.79% in these last 7 days and shown three huge price shifts.

Ethereum Price Analysis

Ethereum opened the week at 189.03 USD. Its first major variation started on November 06, at 07:15 UTC, and on the next day, at 13:25 UTC, ETH price reached 181.11 USD, the lowest for the week. It was followed by a hike of 5.88% over the next 2 days, and it pushed the value to 191.75 USD by 16:25 UTC on November 10. At 16:25 UTC, Ethereum started weakening and reached 182.07 USD by 15:20 UTC on November 12.

Ethereum Price

The Market Cap of ETH coin has also shown a slump in the last 7 days. It was roaming around 20.778 billion USD on 06th November, and today is at 20.217 billion USD.

Ethereum’s 20 days average is now at 184.98 USD, and it’s 50 days average stands at 179.72 USD. The current price at 185.64 USD is 3.29% and 0.35% more than the 50 days and 20 days moving averages, respectively.

Ethereum (ETH) Resistance and Support Levels
1st Resistance $188.4633333
2nd Resistance $190.0866667
3rd Resistance $192.2233333
1st Support Level $184.7033333
2nd Support Level $182.5666667
3rd Support Level $180.9433333

Libra’s Future Plan Has Made PayPal Cautious of Its Competition

Libra is a blockchain tech-based digital currency, backed by the US social media giant, Facebook. The company has already revealed its plan for Libra cryptocurrency in June and it is set to launch soon in 2020.

Reports have been suggesting that this new cryptocurrency might make its first appearance in the market by partnering with the pioneer digital payments firm. This has made other companies, especially PayPal, cautious about the future of Libra.

Although, the company is said to be backed by the basket of currency assets and US Treasury securities in an attempt to avoid volatility caused by the other virtual currencies in the market. Still, things not seem to be perfectly fine for the Libra, as central banks, governments, and regulators all are coming together and asking Facebook what are their plans on making it regulated.

Gabrielle Rabinovitch, PayPal investor relations vice president showing his concern said, “It’s a non-binding commitment,” referring to the plans of Facebook on how they will oversee the blockchain coins.

He continued, “And obviously, I think there’s a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.”

With Libra, Facebook is trying to develop a new global cryptocurrency. That will be stored in our smartphones and most importantly they are planning to make it a stable virtual cryptocurrency. This will help many people who are not using banks to become part of the financial system.

If one can point, they’ll see that Libra’s plans are quite similar to PayPal’s long term plans. There are hundreds of billion funds get transferred by the people to their families in the other country through digital payment. PayPal is the king when it comes to this digital fund transfer. However, the coinciding plans of Libra cryptocurrency have made PayPal cautious of its competition.

Bitcoin millionaire narrowly escapes armed attack by a robber

Crypto holders nowadays should exercise caution with regard to not only their funds but also their personal security, a recent incident of attempted burglary in Norway on a bitcoin millionaires’ home affirms this. Earlier this year a local high profile bitcoin investor in his early forties had barely managed to escape from a robbery at his house when an armed man tried to get inside forcibly. This time it was a businessman who had been working in the crypto industry for almost ten years, and the incident took place at his apartment in Oslo. In this case, too, an armed man showed up at his door and asked him to get down on the floor. The incident was reported by the Norwegian broadcaster TV2 and thereby acted a reminder to all crypto investors to be careful.

Interestingly, in this case, when the intruder armed with a shotgun aimed at the victim, the latter refused to comply and give away the money and escaped by jumping off his balcony on the second floor. Whether the victim has suffered any major or minor injuries is still not known with certainty. TV2 has also reported that the businessman owned a company in the crypto industry and available financial statements show that his wealth is worth almost 11 million USD. The details of the robbery have been made public only recently although the incident had occurred in May this year. The case is scheduled for a trial on October 17 and 18 in Oslo; however, the victim’s attorney and defense lawyer of the perpetrator refrained from commenting.

The victim has thus pulled a brave act as the indictment drafted by the Attorney General’s Office alleged that the suspect had threatened the victim with “Lie down, or I’ll shoot.” However, no shot was fired before the victim barely escaped, who had come in the spotlight in recent times for the significant fortune that he had made with his decade long engagement in the cryptocurrency sector. Norway had also seen similar incidents earlier like the brutal murder of a 24-year-old bitcoin investor in Oslo after he had sold his bitcoins for cash. Although there is some doubt on the possible link of the murder to the bitcoin sale, yet the incident had managed to disturb the crypto community.

Since crimes related to cryptocurrency holders are on the rise, a few simple steps may be undertaken as precaution, besides getting an arms license or installation of a state of the art security system at home. One such step is non-disclosure of one’s earnings, which simply means one need not talk about or show off the wealth that he has made with the bitcoins he has bought. There is a very high chance of such news getting spread by word of mouth or social media, and thus one needs to be cautious. One should also never post his wallet addresses online as this gives access to criminals to see how much cryptocurrency their targets own. In case one needs to post his wallet address online, they should not store much wealth in it and use it only for the specific purpose. One can also use an anonymous cryptocurrency or a coin mixer so that criminals cannot trace the transactions as these can be publicly viewed otherwise. One should also have a wallet that can be used as a bait that has a small amount as compared to overall crypto wealth, in case of armed assault the funds can be transferred to that wallet which the assailants can take away.

Such parallel incidents have also taken place in Kerala, in India this month, and also with a Russian cryptocurrency investor. Therefore such precautions have become extremely significant in the light of a rising number of cases of wealthy cryptocurrency holders becoming victims of robbery and kidnapping at gunpoint.

SNB’s Jordan Expressed Threat From Foreign Stablecoins To Switzerland’s Monetary Policy

Thomas Jordan, Chairman of Swiss National Bank, disclosed his worries regarding the stablecoins. He said that Switzerland’s monetary policy could be affected due to the stablecoins like Facebook led Libra cryptocurrency as they are linked with a group of stable currencies.

He said, “the Swiss franc would not create any risk; however if the stablecoins pegged to foreign currencies were to establish themselves in Switzerland, the effectiveness of our monetary policy could be impaired.”

While speaking at the University of Basel, he further expressed his concern that” cryptocurrencies are meant to have limited use as payment instruments, units of account and stores of value and thus are subjected to have major fluctuations.”

“We don’t see this as an immediate threat to our financial stability, but the open-access of central bank-issued virtual forex to the common public could create hindrance to the national monetary policy as it multiplies a chance of a financial institution run.”

Facebook’s plans to launch a stablecoin Libra is causing turmoil among the bankers and financial regulators across the globe. Moreover, it has chosen Switzerland for launching its Libra project.

Switzerland has blockchain-friendly policies along with stringent federal laws about data privacy and data protection. Owing to this approach, Facebook has launched a company called “Network Libra” in Geneva in May. This has created an atmosphere of ambiguity in the financial sector of Switzerland.

The Libra project is facing a growing chorus of resistance across the borders, including Trump administration.

It also has created chaos among European officials that Libra could harm sovereign currencies and could undermine European banks which could lead to the financial crisis.

The recent statements of Thomas Jordan resonances similar concerns. However, David Marcus, The head of the Libra project had assured in July that it wouldn’t compete with sovereign currencies or won’t interfere in monetary policies.