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Analysis

Ethereum [ETH] Technical Analysis: Long-term price movement to side the bull

Namrata Shukla

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Ethereum [ETH] Technical Analysis: Long-term price movement to side the bull
Source: Pixabay

Ethereum [ETH] has welcomed the new year with open arms and has climbed one step up on the top-10 cryptocurrencies ladder. Ethereum, which was settled on the number third position, on January 2, climbed up to become the second-largest cryptocurrency in the world.

At the time of press, the coin was valued at $154.33, with a market cap of $16 billion. The coin registered a 24-hour trade volume of $3 billion, with a growth of 8.35% over the past 24 hours. The coin has been doing well since past few days, making its overall hike 21.30% over seven days. The coin is still growing gradually as it reports a rise of 0.36% over the past hour.

1-hour 

Source: Trading View

Source: Trading View

Ethereum’s one-hour chart indicates an uptrend from $120.94 to $135.15 after which it dropped. The downtrend was marked from $134.64 to $143.22. The coin, however, managed to change the trend into a growing one. The coin reported an uptrend from $132.34 to $152.85. The coin was restricted with immediate resistance at $155.20 whereas, support was provided at $132.34.

Parabolic SAR points towards a bullish market, as the markers have aligned under the candles.

Awesome Oscillator points to a weakening bearish momentum.

MACD line is under the signal line, after a bearish crossover, indicating a bear market. 

1-day

Source: Trading View

Source: Trading View

The one-day chart of the coin reports a massive downtrend from $432.36 to $153.50. The coin reported a miniscual uptrend from $83.51 to $113.31 and was restricted at $153.50. While the coin was offered support at $83.51.

Bollinger Bands appear to be converged, indicating reduced volatility in the market. The moving average line is under the candlesticks marking a bullish market.

Chaikin Money Flow is above zero, pointing towards a bullish ride for the cryptocurrency.

Relative Strength Index indicates that the buying and selling pressures are evening each other out.



Conclusion

As per the indicators Parabolic SAR, Bollinger Bands and Chaikin Money Flow a bullish market is predicted to be reigning. However, according to Awesome Oscillator and MACD, bear seems to have laid a trap and might overtake the market.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Analysis

Litecoin [LTC] smashes $100 valuation for the second time this year

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Litecoin [LTC] smashes $100 valuation; twice in the same year
Source: Pixabay

Litecoin [LTC] posted massive gains and came out as the biggest winner among altcoins as the week came to an end. The digital coin led the altcoin pack towards another bull run.

The latest pump, however, drove the crypto-asset’s price over $100-mark for the second time this year. Subsequently, the silver coin took over EOS to secure its position as the fifth largest crypto-asset by market cap.

As the crypto market started embracing green, many analysts in the space are of the opinion that the “altseason is upon us”. With the latest upswing, LTC became the fourth coin in the top ten with a three-digit valuation after Bitcoin [BTC], Ethereum [ETH], and Bitcoin Cash [BCH].

Source: TradingView

At press time, the coin was priced at $103.4 after surging by 7.93% over the last 24 hours. LTC registered a market cap of $6.40 billion and a 24-hour trading volume of $6.14 billion. Additionally, the digital coin rallied by 17.52% over the past week.

Litecoin was trading highest on Coineal via the trading pair LTC/BTC, accounting for a volume of 11.98%. The crypto-asset exchange was followed by EXX, which held 8.48% of the trading volume via LTC/USDT.



The upcoming Litecoin second halving event, scheduled for August 2019, and institutional adoption of the crypto were attributed to the series of bull domination this year.

Litecoin crashed soon after June 2018 and hit the lowest point at $30 earlier this year. The coin’s market recovery was resisted by bears as it was juggling within the range of $85-$90 before breaking the much-anticipated $100-mark.





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