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Last Ethereum [ETH] news
It is true that the market has been ruthless. Falling upwards of 85 percent means that the young nonconformist founder, Vitalik Buterin he has to deal with a $ 470 million in unrealized losses after prices peaked at $ 1,400 at the end of 2017 and dropped to a low of $ 105 at the start of this week. Well, this did not seem to upset Vitalik and while channeling his energies to improve network throughput, the 187 transactions from his accounts do not suggest that they sell panic. Given that such supporters, developers, ICOs and investors should be firm.
But even with this, some projects like Aragon that managed to draw funds from Ethereum after a successful ICO has downloaded some of their ETH deposits. Aragon that describes itself as a platform where you can "Organize and collaborate freely without borders or intermediaries"I downloaded 51,934 ETHs – about $ 5.3 million at spot prices." Other important projects that have liquidated their coins include Status-28,000 ETH and Hero-21,000 ETH.
Nevertheless, the bears continue to bite, but even today CoinBase has a specially dedicated branch to address institutional investors. With this option, participants can exchange exchanges and there would be more convenience, especially if CoinBase goes ahead and integrates deferred settlement and custody services.
OTCs are perfect for whales or investors with large amounts of coins that they wish to dispose of. These desks can easily do so without the risk of losses due to slippage, front running and other risks related to volume.
Analysis of ETH / USD prices
Weekly Chart – ETH / USD Pricing Forecast
The return to price and ETH are down 11 percent, which is better than 28 percent of Monday's losses – in the last week and up to eight percent in the past year. ;last day.
Although this is welcome and could be the much needed catalyst to stimulate expansion towards $ 130 and after $ 160 reversing losses this year, conservatives are not yet convinced since the & # 39; ETH / USD is trending within a clear breakout pattern triggered by losses at the beginning of August and confirmed at the week ending November 18 losses.
If nothing else, the only time we should recommend the type of risk-on or conservative trader to mitigate the current trend is when we have high volume breakages above $ 160 or even $ 200 at the limit. higher. Otherwise, if this is not printed and the tendency to resume confirming confirming last week's losses, we might also see the collapse of the Eth / USD below $ 100 and the freefall at $ 50 or even $ 2.
Daily chart – ETH / USD price forecast
As seen from the daily chart, yesterday's pin bar could also usher in the next wave of bulls and a recovery. But before we are content with the long ones, today we have to close a bull by ideally closing above our lower resistance at $ 130 or 24th.
Subsequently, aggressive ETH traders will begin to buy spot with the first targets at the previous support, now the resistance to $ 160 as mentioned above. It will be a daunting task and that is why if prices were to close below the November 27th low at around $ 100, ETH could run towards our not so good targets at $ 2. However, it would increase morale if prices exceeded $ 130 and then $ 160.
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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