Connect with us

Coinpedia

ETH Price Forecast : 8 Signs that Ethereum entered a New Bull Market

Bears followed the Ethereum price bring the price below $500 for some moments. But fortunately, the ETH price gained……

Published

on

It’s Good to HODL ETH now?

Bears followed the Ethereum price bring the price below $500 for some moments. But fortunately, the ETH price gained momentum and rebounded above $510 within no time. However, an analyst predicts still more bear divergence is approaching the ETH price which may take the price as low as $450.

Ethereum Price today

The above image was tweeted by crypto analysts Michael van de Poppe. As per his analysis, ETH price may revisit $450 levels by the mid of 2021 and further surge towards its all-time high.

He further says that ETH may cross $1000 by the beginning of the last quarter of 2021.

Therefore, the current decline may be an opportunity to stack more at the dip opportunity and hence accumulating and HODLing might come out as a better option.

Also Read: Ethereum Price Prediction: Will ETH Price Hit $1000 in 2021

Ethereum’s Bull Market to Continue

The crypto space appeared to have recovered slightly as most of the crypto assets including Bitcoin, Ethereum, XRP rebound with decent gains. One of the crypto analysts and influencer who names himself of Spencer Noon has listed 8 signs that point out towards a bull market ahead for ETH.

  • Increase in Daily Active Address
  • Ethereum has reached close to 500k daily addresses on a 90-day MA, which has doubled in the past year.

  • ETH-Most useful network in the world
  • Ethereum dominates the crypto space in terms of ‘fees paid’. It has outperformed Bitcoin in terms of a single day fee collection.

  • High Demand for Ethereum Block space
  • Despite the current gas fees are very high, more than 80 billion gas is now being used on daily basis.

  • More Stablecoins issued on ETH
  • The stablecoins issued on Ethereum have just gone parabolic since the start of the year 2020. At present more than $16 billion stablecoins have been issued on ETH.

  • Growth in DeFi users
  • The boom in the DeFi space has led to a drastic increase in DeFi users. There are now nearly 1M DeFi users which have grown 10 times since the beginning of the year.

  • Increased TVL in DeFi
  • The total value locked in DeFi space is now more than $14B. In fact, 5 different projects alone have TVL more than $1 billion each.

  • ETH becoming an Economic Vaccum for all Assets
  • As many as 150k BTC worth more than $2 billion has been ported from Bitcoin to Ethereum. Hence becoming an economic vacuum for other assets initiated by Bitcoin.

  • DEX compete with CEX
  • The DEX or decentalized exchange record nearly $20 billion daily trade volume in the last 30 days bringing the combined yearly total of $86 billion. Therefore giving a tough competition for any CEX or centralized exchanges.

    Collectively, a small phase of dump or rather can be termed as a correction phase lived a short phase and most of the assets rebounded pretty well. In fact, in the coming days, all the major assets are expected not only to recover from losses but to surge to great highs.

    Therefore, the current decline may be an opportunity to stack more at the dip opportunity and hence accumulating and HODLing might come out as a better option.

    Source: https://coinpedia.org/news/eth-price-ethereum-entered-a-new-bull-market/

    eth-price-forecast-:-8-signs-that-ethereum-entered-a-new-bull-market

    Coinpedia

    Solana Price in Discovery Mode, SOL Price to Hit $150 Soon!!

    Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge

    Published

    on

    Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.

    SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.

    SOL Price Analysis

    The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.

    The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.

    The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.

    The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

    $150 for Solana?

    Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.

    A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.

    “This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”

    The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

    Source: https://coinpedia.org/price-analysis/solana-price-in-discovery-mode-sol-price-to-hit-150-soon/

    solana-price-in-discovery-mode,-sol-price-to-hit-$150-soon!!

    Continue Reading

    Coinpedia

    Bitcoin Price Facing Vital Resistance As Golden Cross Expected On 13th August!

    Bitcoin(BTC) price after rallying above $46500, it consolidation again around the strong support levels in order to head close to $50,000

    Published

    on

    Bitcoin price rallied remarkably and successfully added yet another $2000 with a nearly 6.1% jump. Moreover, the price also achieved the important resistance levels around the 200-day MA at $44,864. The rally marked a bullish re-establishment but with the beginning of the fresh day trade, BTC price initiated with consolidation. Whereas most of the altcoins appear extremely bullish.

    The past weekend turns out to be a pivotal period that dragged the crypto space out of the reach of the bears. BTC price currently is reattempting to surge above $46000, keeping the bullish momentum well in place. On the other hand, the ETH price comfortably resides above $3100 after the occurrence of the Golden Cross.

    Also Read: Bitcoin Price Analysis: Is Short Term Correction Evident Before the Golden Cross? Popular Analyst Says YES!

    However, the Golden Cross on Bitcoin is expected to occur in a coming couple of days on 13th August 2021 as predicted by analysts.

    Currently, the exchange outflow ratio has fallen to the lowest point since June 2019. Therefore a sense of confidence among the holders is withnessed as large exchange sell-offs are less common when less supply is at risk on exchanges.

    Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

    Also Read: Ethereum Price Flips Before Hitting Crucial Support Zones, Bull Market Resumes!

    Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

    Source: https://coinpedia.org/bitcoin/bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13-august/

    bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13th-august!

    Continue Reading

    Coinpedia

    Polygon (MATIC) Price Retraces Well, Is It A Dead Cat Bounce Or A Recovery?

    The Polygon price struggling to sustain the uptrend, the possibility of a fake breakout haunts the Matic Price Rally

    Published

    on

    Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels.

    The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs.

    matic deadcat

    As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1.

    AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

    Is It Safe To Enter The Matic Price Trade?

    The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

    However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

    $MATIC: Nice dip to the demand zone again w. a good reaction. Would like to see it flip this current level before buying. Decent buy volume from yesterday; we’ll see if this can test higher. #MATIC pic.twitter.com/LDCPEowSh8

    — Altcoin Sherpa (@AltcoinSherpa) June 23, 2021

    Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

    The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

    Source: https://coinpedia.org/price-analysis/polygon-matic-price-recovers-well/

    polygon-(matic)-price-retraces-well,-is-it-a-dead-cat-bounce-or-a-recovery?

    Continue Reading

    Title

    CNBC3 days ago

    Stitch Fix shares surge as online styling service reports surprise profit

    Stitch Fix shares jumped after the online shopping and styling service reported a surprise profit for its fiscal fourth quarter.

    Techcrunch2 weeks ago

    South Korean antitrust regulator fines Google $177M for abusing market dominance – TechCrunch

    The Korea Fair Trade Commission (KFTC) said on Tuesday it fined Google $177 million for abusing its market dominance in...

    Cointelegraph2 weeks ago

    El Salvador’s Bitcoin detractors: Opposition groups gather as crypto law rolls out

    While President Bukele enjoys widespread popularity, his law that makes Bitcoin legal tender does not.

    Ventureburn2 weeks ago

    Startup partners with Telkom to launch translation platform for SA languages

    Telkom has partnered with SA startup Enlabeler to launch an AI platform that translates speech into text and provides transcription...

    Entrepreneur3 weeks ago

    Why You Should Make Twitter Spaces Part of Your Business Strategy

    Twitter's latest feature can help businesses grow their presence on the platform.

    Bioengineer3 weeks ago

    What factors put Philippine birds at risk of extinction?

    Credit: Ça?an ?ekercio?lu The lush forests and more than 7,000 islands of the Philippines hold a rich diversity of life,

    Reuters4 weeks ago

    Chinese social media platforms to “rectify” financial self-media accounts

    China's top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular...

    Ventureburn4 weeks ago

    South African startups helping to solve the global challenges

    A new generation of entrepreneurs are not only incubating solid startups but are contributing to help solve some of the...

    Techcrunch1 month ago

    The SEC and the DOJ just charged this startup founder with fraud, saying he lied to Tiger and others – TechCrunch

    Today, both the U.S. Department of Justice and the Securities and Exchange Commission charged Manish Lachwani, cofounder of a mobile...

    Techcrunch1 month ago

    Blockchain startup XREX gets $17M to make cross-border trade faster – TechCrunch

    A substantial portion of the world’s trade is done in United States dollars, creating problems for businesses in countries with a...

    Review

      Select language

      Trending