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ETH Price: Next Comes $190 Target. Traders Discuss The Chance of Ethereum Uptrend

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ETH Price: Next Comes $190 Target. Traders Discuss The Chance of Ethereum Uptrend
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market is recovering from the last blood bath, and Ethereum is quickly gaining at price. Will it be able to overcome the $200 ceiling? It depends on the resistance levels, especially $190 target. Traders have diverse opinions about the Ethereum’s potential and ability to reach the new level. Let’s read the ETH price predictions from Ethereum to understand what’s happening on the Ethereum market.

Minimum target is $190

Minimum target is $190
Ethereum (ETH) price chart by TradingView

Ethereum was quite strong while BTC dumping slightly today.  Very likely, it was a fake break down (Beartrap). And now ETH drew a rising wedge in 4H time frame, but normally if rising wedge resistance line breaks out, ETH can continue growing. We should keep watching ETH price because the closest minimum target is $190.

But beware: BTC dominance can hit 70 again in the coming two weeks.

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ETH is ready to go higher

ETH gets ready to jump
Ethereum (ETH) price chart by TradingView

In many ways, the crash brought ETH to critical horizontal support between $155- 170. The overbought condition has been relieved, and ETH/USD is ready to smoke higher.

We also like the fact that ETH is breaking back above the green trend line. That is the primary downtrend line in ETH drawn off the 2017 high.

If ETH takes out the 200-day moving average at $185, a tremendous advance will follow. Bears can prove us wrong if they want to try, but our conviction is high. As the old Wall Street saying goes, bears can "come get me."

Overall trend is positive

Overall ETH trend is positive
Ethereum (ETH) price chart by TradingView

Ethereum finds itself at the beginning of a death cross, what this means is that if BTC decides to keep going down further (which it will) Ethereum will go down harder and stay under the 50MA for most of the times with maybe a spike above it once in a while. I guess that most high performing alts will try to stage a double bottom which will put Ethereum around the $80 - $100 range. But let's look at something interesting below.

Over the last week, $14 bln flew through the crypto market so far. A good portion has gone to Ethereum, which means that someone is finding it very valuable. BTC has lost dominance which reinforces that the money that came into this asset class did not go to BTC directly.

The overall trend for Ethereum is quite positive:

  • Support trendlines are green

  • Resistance trendlines are Red

  • Horizontal support lines are white, the thicker the stronger the support

  • 50 Moving Average is yellow

  • 200 Moving Average is white

Right now, it is safe to buy a little of ETH and more on the dips. ETH will go up fast once the bottom is in.

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A great setup

ETH price might skyrocket
Ethereum (ETH) price chart by TradingView

Look at this chart. Back in trend lines, previous highs might inspire a big jump but dependable 10-20% trading range. As BTC recovers, ETH might grab a brief overbought high in the $450-550 range. In October, ETH might reach $220 level, and its price could even go to $500 by the end of 2020.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability

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  • Vladislav Sopov
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    According to its Financial Stability Report of November 2019, the Board of Governors has warned about the dangers of stablecoins.

Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability
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Contents

The Board of Governors of the U.S. Federal Reserve System have issued their monthly Financial Stability Report. This special report is dedicated to the profits and risks of "global stablecoins".

Stablecoins: Global System with So Many "Ifs"

First, the Federal Reserve admits to the numerous advantages that stablecoins present as a concept. It has been highlighed that stablecoins are "faster, cheaper, and more inclusive payments could complement existing payment systems". This is in comparison to cases where traditional financial institutions are sophisticated and poorly accessible. Stablecoins can also be managed to eliminate the volatility of cryptocurrencies, which is one of the borders for them to be utilized as the medium for exchange.

Therefore, the "global stablecoin initiatives" like Facebook's Libra can rapidly achieve cross-border adoption. However, the major threat for stablecoins is apparent - the "inability to convert in national currency". The loss of confidence in "pegging" the stablecoin to traditional assets can lead to a run, in which several holders will attempt to liquidate their stablecoins at the same time.

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This dramatic scenario may be caused by "poor design and governance", and can result in severe consequences for international economic activity, asset prices, and financial stability.

Transparency First

The Federal Reserve also outlined in its report that in many cases, stablecoins can be utilized for money laundering, terrorist financing, and other financial crimes. Therefore, the Federal Reserve would require operators of such systems to conduct their Due Diligence, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to avoid any abuse. Moreover, the problems of disclosure policy and protecting investor data should be of paramount importance for stablecoin issuers:

Disclosures should clearly detail consumer and investor rights and protections, including whether the holder of the stablecoin has any rights to the underlying asset. Issuers should be transparent on how the stablecoin is tied to the underlying asset, has been said in the Report.

Last but not least, the report highlighted that the Federal Reserve, together with the Group of Seven, will closely monitor stablecoin developments as well as all the risks associated with it.

Have anyone ever invested in stablecoins? Do you prefer to use it, or to pay extra fees for fiat gateways? Tell us your story on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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