Ethereum Embarks on a “Moon Mission” as Analysts Eye a Move to $290

Ethereum is beginning to flash some signs of strength as it pushes up against the upper boundary of its long-established trading range between $230 and $250. If it can surmount the resistance it is currently facing, it is a strong possibility that it will soon set fresh post-March highs. Analysts are growing increasingly optimistic regarding the cryptocurrency’s near-term outlook. One is even going so far as to note that it is currently embarking on a “moon mission” due to it forming an incredibly bullish market structure. As for where this…

Ethereum Correcting Gains But Here’s Why $230 Could Trigger Another Rally

Ethereum rallied recently above the $235 resistance region against the US Dollar. ETH is currently correcting gains, but the $230 support might act as a strong buy zone. Ethereum is trading in a positive zone above the $230 and $232 levels. The price rallied above the $240 level and it is currently correcting gains from $244. There was a break below a connecting bullish trend line with support near $240 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest…

The Ethereum Network Activity Surged to Levels Unseen in 2 Years

The smart contracts giant kicked off the week on the right foot. Its price has surged over 4.60% since the weekly open to hit a high of $237.5. However, the Tom Demark (TD) Sequential indicator estimates that Ethereum could be bound for a small intraday correction before it continues rising towards the $239 resistance level.  Based on ETH’s 1-hour chart, the TD setup is currently presenting a sell signal in the form of a green nine candlestick. The bearish formation estimates a one to four 1-hour candlesticks correction. A red…

Ethereum Smashes Crucial Hurdle And It Could Rally To $250

Ethereum formed a strong support base above the $224 level against the US Dollar. ETH is up over 3% and it broke the key $230 and $232 resistance levels. Ethereum is gaining bullish momentum above the $230 pivot and the 100 hourly simple moving average. The price is up more than 3% and it even tested the $235 resistance level. There was a break above a major bearish trend line with resistance near $230 on the hourly chart of ETH/USD (data feed via Kraken). The pair is showing positive signs…

Ethereum Lacking Momentum, But Here’s Why 100 SMA Could Spark Fresh Rally

Ethereum is struggling to clear the $230 resistance level against the US Dollar. ETH price is showing positive signs and it seems like a close above the 100 SMA (H4) could trigger a fresh rally. ETH price is slowly moving higher towards the $230 resistance against the US Dollar. A close above the 100 simple moving average (4-hours) could spark a strong upward move. There was a break above an important bearish trend line with resistance near $225 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair…

Ethereum DeFi Broke Records in June, But Other Categories Are Suffering

Results for the second quarter of 2020 show tremendous growth for decentralized applications across all ecosystems, primarily spearheaded by Ethereum (ETH) decentralized finance, or DeFi. Decentralized exchanges were at the frontlines of the rise as Compound token mining activity trickled down to on-chain swapping solutions. According to Our Network, Curve was one of the biggest beneficiaries of yield farming as it helped users switch between different stablecoins to maximize yield. Curve is an automated money market that only supports swaps between different types of stablecoins and wrapped tokens. This limitation…

Three Important Reasons Why Ethereum Could Tumble Below $220

Ethereum failed to continue higher above $233 and declined sharply against the US Dollar. ETH is now trading below the 100 hourly SMA and it could continue to move down. Ethereum broke the key uptrend support level near $228 and the 100 hourly simple moving average. The price is likely to resume its decline unless it surpass the $228 and $230 resistance levels. The bulls failed to protect this week’s ascending channel with support near $228 on the hourly chart of ETH/USD (data feed via Kraken). The previous support at…

The Simple Reasons Why Ethereum Could Soon Explode to its $250 Local Highs

Ethereum has been struggling to recapture its long-held position within its trading range between $230 and $250. The token has traded below the lower boundary of this range for the past several days, but bulls are now trying to surmount it. It does appear that $230 has become a resistance level for the cryptocurrency, as it has tested this price on multiple occasions over the past day. Some analysts are still convinced, however, that Ethereum remains well-positioned to see further upside in the days and weeks ahead. One trader is…

Elon Musk Says He Isn’t Building Anything on Ethereum

Tesla’s eccentric CEO and co-founder, Elon Musk directly referenced Ethereum (ETH), saying he is not for or against the network.  “I’m not building anything on ethereum. Not for or against it, just don’t use it or own any,” Musk revealed in a July 2 tweet.  The tech mogul responded to a movie star’s crypto tweet Musk’s tweet came in response to a July 2 tweet from movie star William Shatner.  “Cryptonians!” Shatner said, addressing the crypto community, adding:  “My friends Vitalik Buterin and Elon Musk were trying to decide what to build…

TRX in Trouble? Binance Moves $300M Tether From Tron to Ethereum

On June 29, Tether announced a sizable swap of USDT from the Tron blockchain to the Ethereum protocol. Tether explained that the amount of USDT in circulation would remain the same, meaning that USDT (TRC-20) will be burned and the same number of tokens will be issued on Ethereum. Tether makes use of several blockchains to host the circulating supply of USDT, which allows users to bypass congestion in a certain chain if the need arises. This system also makes USDT use easier for users invested in a certain platform…