Connect with us

#Ethereum

Ethereum Price Analysis: No support level before $53, ETH expected to crash between $40 and $60

Published

on

$200 could have been a good support for ethereum, if it had stayed there, but it broke down. The next support level can be $150. The next level is $53

Market Bias: Strong Bearish
Strong Resistance Levels: $115, $120
Strong Support Levels: $53, $40

 

In the worst hit since 14 Months, the entire cryptocurrency industry got wiped out of $50+ Billion in a single week, bringing the total market cap to 120 Billion.

ETH is down 38.6% in the last 7 days according to CoinGecko, and currently trading at $107.99


 

Taking a look at the historic charts for ETH, it seems there is no historic support level between $120 and $53 for ETH, which might bring ETH back to its levels between $40 and $60.

In January 2017, ETH was trading around $10, which is a fact most ETH holders are not aware of. ETH rallied from $40-$60 range to $120 in less than 2 days in April 2017 with no resistance in between.


 

Next Support Level: $53

Further Support Level: $40

Worst Case Support Level: $15

 

As cryptocurrency markets are crashing, ETH might experience its worst hit and Top 50 ICO still hold a considerable amount of ETH and will have to sell their holdings in order to run their daily operations.

What do you think about ETH price? Are you a HOLDer :D? Comment below.

Continue Reading
Advertisement Cryptocurrency & Blockchain Domain Names
12 Comments

12 Comments

  1. Pingback: Ethereum Price Analysis: No support level before $53, ETH expected to crash between $40 and $60 | Coin Crypto Rama

  2. Pingback: Ethereum Price Analysis: No support level before $53, ETH expected to crash between $40 and $60 – Coins News Update

  3. Pingback: Faucet Into The Concealed Future Of Website Promotion and promoting – The Love proctor73johns Blog 283

  4. Pingback: If you are look for a few web site selling techniques that rear end ameliorate your income, you English hawthorn get get murder to the correct place. The C. H. Best techniques of website marketing fire sometimes, spay by chance. You give to be pedagogy yo

  5. Pingback: Improve Your World wide web Advertising and marketing Possible With These Alternatives – The Love johns86hirsch Blog 204

  6. Pingback: Earth wide world-wide-web Promoting Is Enormous! Leran Further About It Right here – The Blogging fournier89proctor Blog 777

  7. Pingback: Vital Entire world-vast-website Marketing and advertising and marketing Understanding That Will Raise Your Model – The Love johns86hirsch Blog 204

  8. Pingback: Reckoning KO’d how to use of goods and services explore recommendations is an extremely salutary expertise for cyberspace marketers. Lettered how to settle on the dot what you would similar in the virtually quick and rich potential elbow room could

  9. Pingback: Generating use of Responsible Pointers To Establish A Constant Stream Of Revenue – The Blogging sandoval23hirsch Blog 988

  10. Pingback: Web Marketing and advertising and marketing Thoughts And Methods You Can Use Ideal now – The Journaling hirsch87hutchison Blog 209

  11. Pingback: If you are look for many internet site selling methods that could increment your product gross revenue, you might experience seem slay to the decent point. The outdo techniques of website selling testament often, modify without admonitory. You get to be d

  12. Pingback: Shh, You should not Permit The Thriller Out! Uncover out About Internet Marketing and marketing Beneath – The Journaling hirsch87hutchison Blog 209

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

#Ethereum

Ethereum is not a Security: SEC Chairman confirms Commission Staff Analysis

Published

on

Jay Clayton, the Chairman of the SEC and an American attorney gave confirmation on the Commission Staff’s Analysis that said that cryptocurrencies such as Ethereum are not securities.

 

Ethereum like tokens are not securities:

The SEC chairman has responded to a letter signed which was signed by Tedd Budd and several other colleagues after asking that whether the policy that would put forward last year by William Hinman, the director of the Divison of Corporate Finance should be regarded as the policy of the SEC or just a judgment of the Securities and Exchange Commission’s staff.

Jay Clayton responded to the letter by stating that he agrees to the statements of William Hinman that was made during the June 2018 speech that concern the digital tokens or cryptocurrencies. He said that he agrees that if a digital token is offered as security is not fixed (static). It might be offered first as security as it might meet the definition of an instrument contract, however, the position might change over time if the digital token is offered in a manner that does not represent that definition anymore. He agreed with William Hinman’s clarification about how the digital token might not represent the definition of an instrument contract.

 

The response letter by SEC Chairman Jay Clayton:

jay-clayton-response-1

jay-clayton-response-2

 

jay-clayton-response-3

 

Continue Reading

#Ethereum

2100 Ethereum accidentally sent as fee: Mining Pool returns half

Published

on

A user had accidentally sent 2100 Ethereum as a transaction fee which was verified by Sparkpool. Sparkpool asked the user to verify himself.

A user had accidentally sent 2100 Ethereum as a transaction fee which was verified by Sparkpool. According to Sparkpool, they on 25th February, they received an email claiming that the user had mistakenly sent 2100 Ethereum as mining fee on 19th February which was more than $300,000.

 

What happened next?

Sparkpool was generous enough to reply to the email asking the user to verify himself as the owner of the ethereum account from which the transaction was made. Sparkpool asked the user to send 0.022517 ETH on the mining pool’s ethereum address from the same address (0x587ecf600d304f831201c30ea0845118dd57516e) from which the transaction was made.

According to what Sparkpool asked him to do, the user sent the same amount of ETH (0.022517) to Sparkpool’s address on the same day to confirm his identity as the owner of the address. After confirmation, Sparkpool negotiated on the term that they are going to keep half of the amount of ETH i.e. 1050 ETH for the pool miners and the rest half they are going to return to the user.

The user sent another transaction to Sparkpool’s address to confirm the negotiation made by Sparkpool. This transaction was worth 0.666 ETH and also contained a coded paragraph in which the user thanked Sparkpool and their miners for helping them and that they are willing to share 1050 ETH with the miners after which Sparkpool returned 1050 ETH to the user.

Continue Reading

#Ethereum

Fall of Ethereum Mining Rewards: What has Constantinople hard fork changed?

Published

on

Ethereum went through the long-awaited Constantinople Hard Fork which increased the energy efficiency and reduced the Ethereum mining reward.

After continuous delays, Ethereum, at last, went through the long-awaited Constantinople Hard Fork which apart from increasing the energy efficiency of Ethereum mining, also reduced the Ethereum mining reward from 3 ETH to 2 ETH.

Ethereum Difficulty Bomb:

Ethereum network currently runs by Ethereum mining which involves a lot of miners approving the transactions on the blockchain. However, the future motive of Ethereum is to shift from the current Proof-of-work model to a Proof-of-stake model which does not involve mining. In order to stop the miners from backing out in case of a fork, Ethereum has included a ‘difficulty bomb’ which is a tool that will allow the ethereum mining difficulty to rise massively and discourage the miners so that they automatically shift over to the new Proof-of-stake model.

 

Are Miners interested in Proof-of-stake model?

It is quite obvious that ethereum miners are not interested in the proof-of-stake. However, the investors have been patiently waiting for ethereum to turn into a Proof-of-stake model from a long time as this would lead to the reduction in the inflation rate of Ethereum and eventually the price might rise.

Let’s look at the charts and see how the difficulty, block time and hashrate has been affected by Ethereum’s Constantinople hard fork:

 

Average Ethereum Mining Difficulty:

Ethereum-Difficulty-Chart-and-Difficulty-History-Chart-CoinWarz

Source: Coinwarz.com

The average Ethereum mining difficulty chart shows that due to the hardfork that happened on the 1st of March, the difficulty has tremendously decreased which indicates that the decrease in ethereum mining rewards is in relation to the ethereum mining difficulty.

 

Average Block Time of the Ethereum Network:

Average-block-time

Source: Etherscan.io

After the Constantinople hard fork, the block time of the ethereum network was also reduced from more than 19 seconds before the hard fork to around 13 seconds after the hard fork which is around 30% decrease. The chart shows that the reduction in the ethereum mining rewards also lowered down the block time apart from lowering the ethereum mining difficulty. As both the ethereum mining rewards as well as the block time has decreased, the Constantinople hard fork has not affected the ethereum miners much because as the ethereum mining rewards have decreased so the miners are paid less per block, however, the block time has also decreased which means that the miners can now mine more blocks in less time which compensates their mining rewards.

 

Average Hashrate of the Ethereum Network:

average-hash-rate

Source: Etherscan.io

The chart shows that after the Constantinople hard fork, The Ethereum Network hashrate hasn’t changed. However, this is not what was being expected by everyone. As the mining difficulty and block time would drop after the hard fork, it was expected that the hashrate would increase drastically as because the performance should be more in case the ethereum mining difficulty is less.

 

Why the Hashrate remained unchanged?

One of the reasons for the unchanged hashrate could be the increase in the price of Ethereum after the Constantinople hard fork. This led to the miners having bullish predictions about the price of ethereum although the mining rewards decreased.

Continue Reading

Keep up with Bitcoin & Blockchain Technology Trends

Simply enter your email address in the box below and sign up for emails from Coinnounce regarding trending cryptocurrency, bitcoin & blockchain topics and offers.

This information will never be shared with third parties.