Trader Who Said Bitcoin Would Hit $3ks Isn’t Sure Ethereum Is Bullish

While all eyes have been on Bitcoin over the past 36 hours, it is Ethereum that is the best-performing top cryptocurrency of the past week. Data suggests that the asset has gained approximately 35% in the past seven days alone, an astonishing gain for a $30 billion asset. Some say that ETH has room to rally due to strong fundamentals and it being oversold against the dollar and against BTC. A cryptocurrency trader who predicted […]

Ethereum May Form “Short Pullback” After Rallying 30% in 5 Days: Analysis

Ethereum has pulled back from its local high of $322 (margin exchanges). It now trades for $312 as of this article’s writing. Some analysts argue that the cryptocurrency is preparing for another leg higher, citing the momentum trade that ETH is. On-chain metrics, though, suggest that the asset may soon be subject to a “short-term pullback.” This information comes courtesy of Santiment, a popular blockchain analytics firm. Ethereum Could Print “Short-Term Pullback,” Santiment Data Shows […]

After Surging 25% in 5 Days, Ethereum Forms Sign Last Seen Before March Dump

Ethereum has seen an extremely strong rally over the past few days. The asset reached a high of $310 on Saturday — the highest price in 2020 thus far. ETH is up approximately 25% in the past days, having benefited from an extremely strong influx of capital inflows. Some think these inflows are from altcoins devaluing against BTC and ETH. Unfortunately, the cryptocurrency may have reached a local high as Ethereum just formed a signal […]

Ethereum Has Surged 15% in 48 Hours But a Bearish Signal Just Appeared

Ethereum has finally begun to surge after a macro bear market. As of this article’s writing, the asset trades for $288, a 2020 high. The asset has achieved this high after a strong 15% surge in the past 48 hours. Unfortunately for bulls, a bearish signal just appeared that could deny further upside for ETH, at least for the time being. Ethereum may have a fundamental case that allows it to continue to rally higher […]

Bitfinex Whale Doubts Ethereum Will Ever Revisit Its All-Time High of $1,400

Ethereum has seen recent fundamental strength with an uptick in adoption and users largely due to DeFi. This recent development has led some to suggest that the cryptocurrency will eventually revisit its all-time high price. In 2018, the prominent altcoin peaked at around $1,450 on major exchanges at the peak of the 2018 boom. A top Bitfinex trader is hesitant to believe, though, that Ethereum will revisit that high. Ethereum has done rather well over […]

Ethereum Fees Are Up 500% Since April: Why That’s Bearish for ETH

It’s been a strong few weeks for Ethereum adoption. Due to growth in the decentralized finance sector, the blockchain has seen a spike in users, active addresses, and transactions. Unfortunately, this influx of usage has not come without a cost: As per data from Glassnode, a blockchain analytics firm, the daily median gas price of an Ethereum transaction passed 50 Gwei. This is a transaction cost five times higher than that of April, and the […]

Will Tezos Be the Altcoin to Unseat Ethereum on the Crypto Market

Ever since it’s record $232 million ICO (initial coin offering) back in 2017, Tezos (XTZ) has earned a justifiable amount of buzz in the crypto world. But does the Swiss-US joint venture have legs?  First off, it’s important to understand what makes Tezos stand out among the thousands of cryptocurrencies on the market. XTZ utilizes a proof-of-stake based consensus model, which, unlike Bitcoin and Ethereum’s proof-of-work models, isn’t dependent on mining for its blockchain protocol.  […]

Analyst: It’s “Hard to See” Ethereum Going Fully Bullish Without Wall Street

Despite a brutal bear market that shook out most investors, Ethereum is fundamentally stronger than ever. David Hoffman, the CCO of RealT and a podcaster in the industry, accentuated this in the tweet below. The tweet notes that a number of Ethereum’s usage metrics and use cases are at all-time highs, despite the meager price action. Almost everything is at ATH’s on Ethereum 📈 ~Assets~Stablecoins – $8BValue in DeFi – $2.2BDAI – $186MBTC – $135MTokenized […]

Researcher Says Ethereum 2.0 May Be Delayed — Increasing Risk to ETH Bulls

One of the biggest Ethereum narratives over the past few months is ETH 2.0. For those that are unaware, Ethereum 2.0 is a new version of the network that will dramatically improve usability, bandwidth, and speed. Developers intend to accomplish this by implementing technologies like Proof of Stake and sharding. At the Ethereum Asia Supermeetup in March 2019 in Hong Kong, Vitalik Buterin explained: “[It is] a way to bring technical improvements, like PoS and […]

Why Top Analyst Predicts an Altcoin Rally on Key Ethereum Breakout

Ethereum broke above a crucial short-term resistance area this Wednesday. The second-largest cryptocurrency is now eyeing a “significant breakout” towards 0.032 sats, according to analyst Peter Brandt. The veteran financial strategist also predicted an altcoin rally should Ethereum move higher. Ethereum is performing better in the bitcoin-enabled market since the “halving” on May 11, 2020. The ETH/BTC exchange rate has climbed by more than 24 percent to 0.0263 sats from its May 13 low. Gains […]

Despite Rally to $250, Ethereum Was Just Dealt This Fundamental Blow

Like most of the cryptocurrency market, Ethereum has performed well over the past few days. This strength culminated in a rally to the crucial level of $250 on Wednesday, as depicted in the chart seen below. The ongoing surge has been quick to flip cautious investors into bulls. One trader postulated that ETH is now on track to hit $300, citing the bullish break of its market structure and its outperformance of BTC. Yet some […]

XRP’s Recent Collapse Could Force Ethereum Under $200, Analyst Suggests

While Bitcoin, Ethereum, and other top cryptocurrencies are near year-to-date highs, the same cannot be said for XRP. As the chart below depicts, the leading altcoin is trading at $0.185 as of this article’s writing. This is below the start-of-2020 price ~$0.19 and more than 40% below the year-to-date highs of $0.34. For some context, Bitcoin is up around 25% while Ethereum has gained over 70%. XRP may be an outlier, but a trader recently […]

Fund Manager Explains Why Ethereum Rivals Will Significantly Outperform ETH

Ethereum has been the leading smart contract blockchain for years now. The blockchain’s native cryptocurrency, ETH, has a native market capitalization in excess of $25 billion. $25 billion is an order of magnitude higher than the market capitalization of Cardano’s ADA, $2.5 billion. Cardano, of course, is Ethereum’s primary competitor. And $25 billion is two orders of magnitude higher than the value of Zilliqa (ZIL), another competitor. Despite the asset’s dominance, analysts see Ethereum losing […]

Textbook Pattern Predicts Ethereum Will Plunge Over 20% if $220 Is Lost

Ethereum’s price action may be textbook indecision, yet an analyst said that the asset is moving ever closer to a breakdown. Ethereum Could Plunge Lower  According to a trader, Ethereum is on the verge of breaking down. He shared the chart below, noting that ETH is trading in a textbook “Chauvashov fork” pattern. The pattern implies a drop to $175 will take place if the formation is broken: “If this Chuvashov fork breaks, ~$175 is […]

As ETH Fees Remain High, Trader Reminds Community “Ethereum Hasn’t Won Yet”

If you’re one to focus on transaction fees, it’s been a tough past few weeks for Ethereum. The network has been subject to an influx of adoption over recent weeks. Santiment, for instance, has reported the highest daily active address count in over two years. Similarly, the daily number of confirmed Ethereum transactions recently surpassed one million. Ethereum transaction fees have skyrocketed as a result. According to data shared by Tradeblock, the cost of transacting on […]

Ethereum Active Address Count Hits 2-Year High, Yet ETH Is Still Bearish

Ethereum’s price is more than 80% below its all-time high above $1,400. Yet this bearish price performance on a macro scale has not stopped users from flooding to the network. Data suggests that usage of the network is starting to reach the highs seen at the peak of 2018’s bubble. ETH’s price is unlikely to follow, though, analysts say. Number of Active Ethereum Addresses Spikes The latest blockchain data shows that Ethereum users are shrugging […]

Despite Its $25B Market Cap, Ethereum Can Still Be “Dethroned”

For years, Ethereum has easily been the leading smart contract blockchain. With mass adoption by service providers, brand recognition, and a series of popular apps, it leads in its category. Yet this hasn’t stopped some from speculating that the cryptocurrency can be “dethroned” by an upstart. Ethereum Could Be Dethroned By Another Blockchain, Analyst Says Due to a rapid increase in the adoption of decentralized finance, the Ethereum user experience has arguably gone downhill in […]

This Signal Last Seen Before Ethereum’s 60% March Crash Is “Inches Away”

After days of consolidation, Bitcoin, Ethereum, and the rest of the crypto market have finally broken down. The flagship cryptocurrency tanked from the $9,100 base to a low of $8,830 for a loss of 3%. Ethereum registered similar weakness, decisively slipping under $220 for the first time since the end of May. While it is still early days for this leg lower, technical signs show the expectations of a further move lower are gaining credence. […]

Ethereum Just Printed a Macro Buy Signal Yet Not Everyone Is Convinced

If you zoom in and look at Ethereum’s price action since the March lows, it would be easy to say that ETH is doing great. But if you step back and looking at the macro view, you realize how bad things have become. Against the dollar, the leading altcoin has collapsed by around 85%. And against Bitcoin, the cryptocurrency has fallen by a similar amount. That’s to say, the cryptocurrency still seems to be caught […]

Fund Managers Double Down on Anti-Ethereum Sentiment: Here’s Why

Ethereum, the network not the cryptocurrency, has seen an eruption in adoption and usage over recent weeks. Blockchain analytics firm Santiment reported that the number of new addresses on the network is passing 100,000 per day. This is slightly shy of the 116,000 per day year-to-date high but still impressive. Santiment further explained: “Ethereum’s network growth metric has rapidly been on the rise since the beginning of 2020, creating 237% more addresses yesterday than it did […]