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Latest news on Ethereum
Despite the deep losses, 2018 marks an important milestone for blockchain and cryptocurrencies. It is the year of institutional experimentation, with many remaining explicit about their intention to try out different blockchain solutions while some venture into digital goods custody services.
Of course, the entrance of Fidelity Investment is a turning point, but still others compete and declare their intention to be part of a larger infrastructure that will see Ethereum and other encrypted companies absorbed by investment companies because of their depth and low volatility. In addition to the NYDFS's application and approval of CoinBase, Binance is expanding and wants to have global reach before providing specific solutions from professional and institutional investors.
Already, their trading interface is intuitive and complex enough to satisfy professional traders. Apart from their high levels of security and deep liquidity, it is the largest exchange by trade volume, the exchange is running their operations on a proven and proven platform over time.
Now they plan to introduce sub-accounts and a multi-level exchange program with a maker / take model that fits large amounts of institutional exchanges. To this end, the exchange is now increasing support for business account management processes while taking advantage of their flexible API systems where limits, deposits and withdrawals can be set.
Price analysis of Ethereum (ETH)
Weekly chart ETH / USD
However, ETH / USD records marginal gains in shorter periods of time, while movements in higher time frames are constrained within narrow intervals.
In reality, earnings over the last seven days are less than 1% and relatively flat on the last day. Considering the lack of movement, our latest ETH / USD trade plan is valid now that the bulls have not created enough momentum to reverse losses at the beginning of August.
Later, the high-volume bear bar triggered a surge in selling pressure and in a classic bear bar breakout, prices have not yet been recovered and ETH / USD is traded within a range of $ 110 with supports at $ 160 or Sep lows.
Unless otherwise, sellers are in charge and each high should theoretically be another sales opportunity, but as prices are down 80 percent from the highs of 2017, a conservative business plan requires patience in the market. commercial execution only when bears drive prices under $ 200 and after $ 160.
Daily ETH / USD chart
Too, bears are in charge and as such, two bars are important in our analysis: September 5 brings the breakout bar and confirms the October 11 bar. Everything else is constant, it is clear that the sellers are responsible from the point of view of the effort with respect to the results and the way the bars are arranged.
Therefore, because of this, the aggressive and risky type of traders can perform on-site operations with a stop at $ 225 or 7 November with a first target at $ 190 and then $ 160.
On the back side conservative traders should take a neutral position until prices rise above $ 250 or fall below $ 160 in a trend that confirms the move that ETH / USD could see testing $ 75.
* 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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