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Still holding ETH? Get ready for the real ICO Selloff

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The crypto markets are under the “red” area. Most cryptocurrencies have experienced greater than 10% decline, and ETH tops the list with a whopping 29% decline in the last week, as reported by CoinGecko.

 

 

Many crypto pundits believe that Bitcoin Cash Hash War led to the entire crypto market decline and it is a nightmare for ICOs that hold a majority part of ETH.

 

DigixDAO, Golem, Polkadot, Status, Filecoin and more

DigixDAO still holds about 400,000 ETH, Golem about 370,000 ETH, Polkadot holds 306,000 ETH, Status holds about 250,000 ETH, Filecoin holds 240,000 ETH, and many more ICO holds a significant stake of ETH.

It is evident that ICO projects will dump their holdings to liquidate to USD to run their projectsplans, the question is when? We saw a major ICO selloff in the previous months, and it is believed that the current ICO selloff (when it happens) will be ten times more powerful, ultimately bringing ETH to a value less $50.

Check out this public google doc that gives detailed information about all ICO holdings: ICO Holdings Doc

 

3,744,651 ETH is on stake for a MAJOR Selloff

Looking at the google doc for ICO holdings, the top 58 ICOs alone hold 3,744,651 ETH today. A selloff is expected soon from these projects. The steep losses are visible in the daily chart of ETH/USD.

 

Ethereum price is trading in a bear breakout pattern and what we have seen in the last two days might only be a glimpse of what is coming soon.

 

Major Trend: Strong Bearish

Support Areas: $130, $98, $53

 

If you have more information on ETH selloff or a different opinion, comment below.

#Ethereum Price Analysis

Ethereum Price Analysis: ETH strong enough for $200?

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Ethereum price is picking up strength after breaking the major resistance. ETH could soon move towards $145 in the short term.

Technical Indicators

Support Level – $130

Resistance Level – $140

  • Ethereum price picked up strength over the $125 and $130 resistance levels against the US Dollar.
  • There was an appropriate close over the $130 resistance level and the 100 hourly SMA.
  • There is a bullish pattern line formed with support around $129 on the hourly chart of ETH/USD.
  • Ethereum price is probably going to proceed higher towards $140 and $145.

Ethereum price is picking up strength after breaking the major resistance against the US Dollar and bitcoin. ETH is trading above $130 support level and it could soon move towards $145 in the short term.

 

Ethereum Price Analysis

Ethereum price picked up strength and broke numerous resistances between $125 and $130. There was a legitimate close over the $130 resistance level and the 100 hourly SMA. There was a little bearish response from the $130 resistance, yet the $124 level went about as strong support. The price revived and broke the $130 and $132 resistances.

Ethereum price tested the $135 resistance, and later there was a minor drawback adjustment. ETH plunged underneath the $133 level, yet the $132 level went about as good support. There appears to be a lot of supports shaping around $130. There is a key bullish pattern line formed with support at $129 on the hourly chart of ETH/USD.

ETHUSD Price Chart

ETHUSD Price Chart

Taking a look at the chart, Ethereum price is picking up strength over the $132 resistance levels. It will in all probability break the $135 level and expand gains in the coming sessions towards $140 and $145 levels. The major support is around $130, beneath which the price may test the $125 support zone.

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#Ethereum Price Analysis

Ethereum Price Analysis: ETH ready to fall down?

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Technical Indicators

Support Level – $117

Resistance Level – $125

  • Ethereum price faced a lot of pressure being above the $121 and $119 support levels against the US Dollar.
  • Yesterday’s bullish pattern line was broken with support at $121 on the hourly chart of ETH/USD.
  • Now there is an interfacing bearish pattern line formed with resistance around $121.
  • Ethereum price might test the $121-122 resistance zone, where most sellers are placed.

Ethereum price chart is forecasting bearish trend against the US Dollar and bitcoin. ETH is currently at danger of falling towards the $117 or $114 support level in the short term.

 

Ethereum Price Analysis

EThereum price was unable to break the resistance around $125 and declined beneath the $121 and $119 support levels. The decrease led to the price falling beneath the $117 level and the 100 hourly SMA. Yesterday’s bullish pattern line was broken with support around $121 on the hourly chart of ETH/USD. Ethereum fell up to $115 support and later corrected back upwards towards $117.

The previous support levels around $121 and $122 have now turned out as obstacles. There is another interfacing bearish pattern line formed with resistance around $121. In the current situation, it appears that Ethereum price might bounce over the $121 level, but the sellers will most probably push the price downwards.ETHUSD Price Chart

Taking a look at the chart, Ethereum price is battling beneath the $122-123 resistance zone. ETH price needs to move above the last high around $125 to proceed higher in the short term. If not, there is a danger of more declines beneath $119 and $117 in the short term.

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#Ethereum Price Analysis

Ethereum Price Analysis: ETH ready for a bull run?

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Ethereum price is in a bullish trend. ETH is probably going to break the current resistance around $125 and test the next resistance levels $128 and $130.

Technical Indicators

Current Support Level – $120

Current Resistance Level – $125

  • Ethereum price is supported by the $120 support level against the US Dollar.
  • The key bullish pattern line which was formed yesterday still remains in position with support around $120 on the hourly chart.
  • The momentum is currently bullish and Ethereum price is expected to move higher above $125 resistance level in short term.

Ethereum price is in a bullish trend against the US Dollar as well as bitcoin. ETH is probably going to break the current resistance around $125 and test the next resistance levels which are $128 and $130.

 

Ethereum Price Analysis

Presvously, The ETH fell down towards the $118 and $120 supports a couple of time, but the buyers were able to stop the price from falling further downwards which resulted in a bullish momentum. There was a decent upward move and the price spiked over the $125 resistance where sellers appeared and moved the price downwards again. Ethereum price reached up to $125.41 and later fell lower. It fell underneath the $124 and $122 levels.

ETHUSD Price Chart

ETHUSD Price Chart

Ethereum found a good support around $120. Yesterday’s key bullish pattern line is still formed with support around $120 on the hourly chart of ETH/USD. Ethereum price is trading pleasantly over the $120 support and the 100 hourly SMA. If there is a downward break beneath $120 and the 100 hourly SMA, this could result in further declines which can result in ETH falling to around $115.

Taking a look at the chart, Ethereum price is currently well situated over the $120 support. Buyers need to break the $125 resistance in order to make ETH rise further. If the resistance between $125 and $126 is broken, ETH will most probably test the next support around $130.

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