Ethereum Surges to the new ATH. The price of the ethereum coin has surged more than 15% and is being traded around 1480$. The existing CoinMarketCap rating is #2, with a $154,269,806,749 USD market cap. It has a circulating stock of ETH coins of 114,382,007 and an avg. There is no availability of supply. Ethereum is a decentralized blockchain open-source framework that features Ether, its own cryptocurrency. For various other crypto currencies, as well as for the implementation of decentralized smart contracts, ETH functions as a forum. Ethereum is a decentralized blockchain open-source framework that features Ether, its own cryptocurrency. For various other crypto currencies, as well as for the implementation of decentralized smart contracts, ETH functions as a forum.
In a 2013 whitepaper by Vitalik Buterin, Ethereum was first described. Buterin rose funding for the project in an online general audience sale along with other co-founders, secured funding for the project in an online public audience sale and formally launched the blockchain on July 30, 2015.
Fibonacci levels
It is used to predict the support and resistance levels of the market. The 0.786 level is showing good support at .0403. However, the market is looking good to go up at the moment with current price at .0425179.
RSI Indicator
Relative strength index is a great instrument to check the momentum of the market. RSI of the ETH/BTC pair is going down from 80 level .It shows market is going to take correction at the moment. There is a strong resistance at .045. Anyone looking for entry may put its buy order near the support point of .040 USD.
Bollinger bands
Bollinger bands is a volatility analytic tool used for the technical analysis, Bollinger band of ETH/BTC pair has touched the 1st line and inverted hammer is formed and the market will take some correction at this point. The next support here as per this indicator will be at the middle line of the Bollinger band indicator.
The market will may go further from the end if the market continues to decrease the potential. As the inverted hammer is indicating the market will go down to take correction.
Parabolic SAR
Parabolic SA is a great tool which used to check the momentum of the markets. The pattern is still above the candlesticks that shows strong signal of the market going down for a short time. Currently, ETH is being traded at .042btc.
ETH/BTC Upcoming levels to watch
The market potential is looking good for this pair. All the indicators RSI, Bollinger bands, and Fibonacci level all are looking bearish at the moment and market will test its support levels mentioned above. However, the resistance levels are .045 USD and next support level at .040 USD range.
Note: This is just analysis and not a financial advice
-
Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.
Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.
In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.
When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.