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📈 Price Predictions
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Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

  • Thomas Hughes
    📈 Price Predictions

    After establishing a bottom at $83 and then moving sideways for an entire month (27 Feb. 2019 – 25 Mar. 2019) Ethereum bulls stepped in and drove ETH/USD to a high of 182.88

Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
Cover image via u.today

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.

The Ethereum platform went live in July 2015 and has been experiencing growing pains ever since. The original blockchain was split into Ethereum and Ethereum Classic in 2016, due to lack of consensus regarding The DAO. Since then it has undergone several forks and upgrades, most recently Constantinople. 

Constantinople was an upgrade of Ethereum’s features, had consensus and did not result in a split blockchain and two separate coins. The Constantinople upgrade occurred at block 7,280,000, on the 28th of February 2019 and was highly anticipated, mostly because it was postponed twice before. The bad news is that it didn't include all it was supposed to, there are more upgrades and forks on the way. 

The native crypto asset is Ether. Ether can be used to run applications and to monetize work but can also be traded on any cryptocurrency exchange. The token has been moving up along with the broader cryptocurrency market but is a laggard with gains less than 80% since the low of the year. 

Ethereum (ETH) Price Analysis – The Big Picture

Ethereum is ranked number 2 on CoinMarketCap with a circulating supply valued at $17,716,774,261 It is trailing Bitcoin by a large margin but more than $3 billion ahead of number 3 Ripple so firmly established at this time. 

ETH/USD chart by TradingView

ETH/USD chart by TradingView

After establishing a bottom at $83 and then moving sideways for an entire month (27 Feb. 2019 – 25 Mar. 2019) Ethereum bulls stepped in and drove ETH/USD to a high of 182.88. The bullish price action was milder than what we’ve seen on other cryptocurrencies and has since begun to correct. Bitcoin, for example, climbed from roughly $4,000 to almost $5,400 during the latest market push and many other coins in the top 20 posted massive gains above 100% before entering the current market correction.  

This begs the question: is Ethereum undervalued? If the answer is Yes, then we will probably see a climb after the pullback is completed. The weekly MACD is crossed bullish and the histogram is increasing but the move is weak and paints a blurry picture. If the lines move above the histogram and the pair surpasses $250, the likelihood of a climb into $375 in 3 to 6 months will increase.

ETH/USD chart by TradingView

ETH/USD chart by TradingView

On the Daily chart, we can clearly see that strong resistance at 165 was broken. This is a strong bullish sign because resistance was marked y two previous selloffs. Usually, a break of such a chart pattern triggers a sustained climb as more buyers join the action. Often times price re-tests the recently broken level of resistance turned to support before heading higher and that is what looks like is happening. 

If we are indeed dealing with a normal re-test, then the price is likely to shoot higher from the vicinity of $165 - $160 or possibly to bounce at the 100 days Exponential Moving Average. A clear break below $165 and below the 100 days EMA would indicate that the break of the double top at $165 was false.

Daily Chart Support: $165 (not confirmed support - currently tested), 100 EMA, $134
Weekly Chart Support: $100 (psychological), $80 - $83 (zone) and all-round numbers below
Daily Chart Resistance: previous top at $182 followed by $200 (psychological) and $250 (technical)
Weekly Chart Resistance: $250, 100 weeks EMA, $375
Most likely scenario: If the pair finds support at $160 or at the 100 days EMA, it will probably make a run for the next target, which is $200, followed by an extended run into $250. If this scenario comes true, we may see $375 in 6 months’ time.
Alternate scenario: The break of $165 proves false and ETH drops back into $100 area.
 

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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