Ethereum (ETH) Technical Analysis Long or Short?
Here is the technical analysis (TA) of Ethereum (ETH). Ethereum is the second largest cryptocurrency by marketcap. Ethereum is now trading at $131 or 0.034 BTC. Ethereum has a market cap of $13.85 billion dollars.
A sweet symmetrical triangle if found on the 1-day timeframe. The next moves are shown by the blue arrows. Those who are willing to take a new entry can place orders around 0.033 BTC. The possibility of an upward breakout of the symmetrical triangle is high.
The resistance zone is shown by the grey box. Ethereum is rejected two times from the resistance zone that is 0.04-0.044 BTC. The final target for the midterm is 0.056 BTC. If the market will not directly break the pattern then may it test the level of 0.0355 BTC which also golden ratio of 0.32 fib.
This is a good long opportunity for leverage traders. Take trades with 5-20% profit and book the profit don’t hodl. Leverage trading is always risky, put a tight stop-loss.
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Ethereum Constantinople hardfork is successfully implemented on the Ether network. The main highlight of the hardfork is that the reward per block is reduced from 3 ETH to 2 ETH. This will reduce the daily supply of Ethereum and will fuels the price goes higher.
Here are the full details of what happened in the Constantinople hardfork. The hardfork will have many major upgrades for the Ether network.
Delphi Digital a research firm published a deep analysis report on Ethereum (ETH). The report indicates Ethereum will outperform Bitcoin in the next crypto bull run.
Tom Jessop, the head of crypto department at Fidelity said that they will love to list Ethereum the second largest cryptocurrency by marketcap but the Constantinople hardfork delays the listing. The Ethereum network is under upgrades and Fidelity wants to see how the upgrades affect the network.
Ethereum has potential to break its previous all-time high ($1500) in the long term. The Co-founder of Ethereum, Vitalik Buterin believes that Ethereum is better than Bitcoin (BTC). Vitalik compares Bitcoin with a plot key calculator, which is designed for calculations and done his work perfectly. Ethereum is more like a smartphone which includes a calculator app, music app, browser etc.
What you think about Ethereum (ETH) in short and long term? Please let us know in comments.
Tags: #Bitcoin , #Crypto #Ethereum , #Digital Assets , #Cryptocurrency , #VitalikButerin #TechnicalAnalysis
