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Ethereum [ETH/USD] Technical Analysis: Bull-bear clash will decide fate of the coin

Priya

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Ethereum [ETH/USD] Technical Analysis: Bull-bear clash will decide fate of the coin
Source: Unsplash

The whole cryptocurrency market seems on the brighter side of the field as a majority of the cryptocurrencies are dawned in green. This includes all the top currencies such as Bitcoin, Litecoin, Ethereum, XRP, and Bitcoin Cash ABC, taking the lead.

According to CoinMarketCap, at press time, Ethereum was trading at $119.06 billion, with a market cap of $12.44 billion. The coin registered a trading volume of $2.47 billion and has seen a hike of over 1% in the past one-day.

1-hour

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: Trading View

In the one-hour chart, the coin pictures downtrends from $129.38 to $124.89 and $124.65 to $118.69. The uptrend is recorded from $114.98 to $118.39. The immediate resistance for the coin is set its ground at $118.72 and the strong resistance at $124.91. The support system for the cryptocurrency is operating at $114.95 and $114.31 levels.

Parabolic SAR is forecasting a bullish trend as the dots are aligned below the candlesticks.

Chaikin Money Flow is also seen enjoying the market’s current status as it is indicating that the money has started to flow into the market.

Bollinger Bands are pictured parting from each other, making room for more price actions to take place.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

The one-day chart demonstrates a downtrend from $478.79 to $155.91 for the coin. The uptrend is outlined from $83.74 to $115.86. The immediate resistance for the coin is set at $156.04 and the strong resistance is at $218.82. However, the support grounds are pictured at $114.31 and $82.81.

RSI is showing that the buying pressure and the selling pressure are being evened out by each other.

Klinger Oscillator is currently showing a bearish trend for the coin. However, the lines are drawn closer to each other, showing signs of another crossover soon.

MACD is also on the same page as Klinger Oscillator. In addition, the histogram’s red is seen fading away, opening doors for the bright color to re-enter the market.

Conclusion

The coin has started to show its preference to the bull’s regime. Klinger Oscillator and MCD from the one-day chart continue to be stuck up in the bear’s market. Whereas, Parabolic SAR and Chaikin Money Flow have already jumped to the other side.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

News

GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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