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Latest news on Ethereum
The winter crypto could end and after 11 months of deep frosts, it's a run for honors. And these are not single coins that recover their losses and realign as they post massive gains in the last 24 hours, exchanges are doing their best to improve the user experience. CoinBase, one of the world's largest and most conservative cryptographic exchanges, is launching gadgets for users. As a "crypto first" exchange, the platform is releasing a new function, Convert.
To read: Cryptocurrency Regulations: Hong Kong considers the most stringent laws for industry
This tool allows users of the platform to convert from one currency to another without using third-party applications such as ShapeShift or Changelly. Support is available for Bitcoin, Ethereum and four other coins. But as a for-profit company, CoinBase will charge 1% for each conversion. However, depending on the prevailing market conditions, rates may vary.
Starting today, you can convert one encryption to another on Coinbase. Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) or Bitcoin Cash (BCH).
It is day 8 of 12 days of Coinbase. Further information: https://t.co/VshJf7FOMZ pic.twitter.com/wLyJPfkKcA– Coinbase (@coinbase) December 17, 2018
Meanwhile, Santiment's data indicate that over 400,000 ETHs have flown from ICO portfolios in the last 30 days. Even if the data were inconclusive on the fact that these coins found their way to trade, we can only assume that this activity meant liquidation.
Read also: CoinBase opens up to Altcoins, launches Crypto-To-Crypto Trading
Kyber Network has spent 67,290 ETHs since mid-November, but their portfolios still hold 5,560 ETHs after raising $ 50 during their successful ICO. Other notable sellers during this bear freeze include Aragon, SingularDTV and Status.
Analysis of ETH / USD prices
At spot prices, ETH rose 4.4% against the USD and $ 7 compared to the impressive level of resistance. From the previous ETH / USD trading plan, sellers are technically responsible unless there are solid breakages above $ 100. This is a round number and a psychological level that could push ETH above $ 130 and even $ 160 by canceling the bear breakout model of December 6th.
Trend training and candlestick: bearish, break pattern
The path of least resistance is south and the perpendicular drops from $ 160 cementing our trend preview. But there is hope for the bulls if and only if there are high-volume closures above $ 100. As stated above, this expansion would nullify the breakout pattern of the minor bears on December 6th as the bulls find the momentum needed rallying towards $ 160. This is another important level of resistance and support from October-November 2018.
Volumes: growing, bullish
Although ETH / USD has a range range and fluctuates within a narrow range of $ 17 with a floor at $ 83, earnings above $ 100 could ignite buyers who aim for $ 160. But this is subject to the level of participation in the market. Ideally, the breakout above $ 100 should be accompanied by volumes above the average of December 7, 1900 bar at 321k versus 179k.
If this is the case and the recent lower lows act as a catapult for the next wave of higher highs, our ETH / USD trade plan will be as follows:
Buy: $ 100, $ 130
Stop: $ 90, $ 110
Objectives: $ 130, $ 160, $ 250
All graphics courtesy of Trading View
This is not an investment tip. Do your research.
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