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Ethereum

Ethereum (ETH/USD) forecast and analysis on January 1, 2019


  • Ethereum is closing in on Ripple’s XRP to reclaim its second position in the market.
  • ETH is getting ready for a new year rally ahead of the much anticipated Constantipole upgrade.

The cryptocurrency market is relatively stable on the last day of 2018; the year of reckoning in the industry. Cryptocurrencies have experienced the highest volatility in history while at the same time gone through some of the worst selloff in the recent years. Bitcoin declines from the all-time highs around $20,000 to annual lows of $3,200 in the last month of year. All the predictions that Bitcoin price will lead the recovery in the market never came to pass and it is now apparent that we will close year with BTC stuck in a bear range below $4,000.

The total market capitalization has been rising steadily from 2018 lows around $100 billion. December has experienced both upswings and downward spirals. However, cryptos have been unable to hold the market value above $140 billion. Moreover, at least $2 billion has been lost since yesterday from $130 billion to the current $128 billion.

Ethereum (ETH), for a long time held tight to the 2nd position in the market after Bitcoin (BTC). This also meant that it was the largest altcoin in the market; a position that is currently held by Ripple’s XRP. Ripple’s XRP has been able to weather down declines magnificently over last three months compared to assets like Bitcoin and Ethereum. The dwindling price of Ethereum gave XRP the energy to battle and become the world’s second largest digital asset.

However, this situation is likely to change in the first quarter of 2019. As discussed earlier, ETH/USD is getting ready for a new year rally ahead of the much anticipated Constantipole hard fork upgrade.

Read more on Ethereum’s hard fork here.

At the time of writing, Ethereum is closing in towards Ripple’s XRP in terms market cap. ETH currently stands at $14.22 billion while XRP is holding ground at $14.68. If Ethereum continues to receive the support due to the impending network upgrade, we will soon see the asset back in its second position. Besides, recently the co-founder of the network, Joseph Lubin told the community that the “sky is not falling” and the network is on the right track when it comes of development.

Source: fxstreet

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Cryptocurrency Ethereum (ETH/USD) is trading at 589. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator bars. Ethereum (ETH/USD) forecast and analysis on December 15, 2020 As part of the Ethereum forecast, a test of level 572 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 625. The conservative buying area for Ethereum is located near the lower border of the Bollinger Bands indicator bars at 528. Ethereum (ETH/USD) forecast and analysis on December 15, 2020 Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the area of ​​the lower border of the Bollinger Bands indicator bars. As well as a moving average with a period of 55 and closing of quotations of the pair below the 520 area. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency. Ethereum (ETH/USD) forecast and analysis on December 15, 2020 implies a test level of 572. Further, growth is expected to continue to the area above the level of 625. The conservative buy zone is near the area of ​​528. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 520. In this case, we should expect a continuation falling.

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