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Ethereum

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

ETH to USD: Ethereum Price Analysis, Turning Bullish?

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Ethereum price recently tested the $160 support level. However, ETH was able to gain momentum and move above $165 resistance level.

Technical Indicators:

Support Levels: $165, $160

Resistance Levels: $170, $175

 

Key Points:

  • Ethereum price moved downwards recently to test the support around $160.
  • The buyers around the support were able to push the price upwards and ETH corrected above $165 resistance level.
  • Ethereum price is currently getting stronger above $165 resistance level and 100 hourly SMA.

 

Ethereum Price Analysis:

Summary: Ethereum price recently tested the $160 support level. However, ETH was able to gain momentum and move above $165 resistance level.

 

Last week, Ethereum price traded in a bearish momentum falling below $170 support level. ETH even moved below $165 support which later turned into a resistance level. However, the buyers around $160 support were able to stop further losses and ETH was able to break through $165 resistance level and settle above the 100 hourly SMA.

 

Currently, Ethereum is trying to break above $170 resistance with nice support at $165. If the buyers are able to gain momentum, Ethereum price might soon move above $170 in order to test the $175 resistance level. The current momentum is bullish, however, ETH might test the $165 support level again before starting to rise upwards. If the support is broken, Ethereum will move towards $160 below which it might turn bearish. On the upside, there is a strong resistance around $170 and $175 levels which might be difficult to break.

 

ETHUSD Price Chart 15 April

ETH/USD Price Chart 15 April

 

The chart whos that Ethereum price is currently trading in a bullish momentum, however, the momentum might turn bearish if ETH moves below $165 support and 100 hourly SMA. On the upside, Ethereum might test the $170 resistance again in order to move towards $175 level. The resistance around these levels is very strong and ETH might crash downwards again.

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#TRON

TRON To Collaborate with Ethereum, Other TRON Updates: Justin Sun

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During an interview with Crypto Chick, Justin Sun, the founder of TRON (TRX), he thinks that TRON might officially partner with Ethereum this year.

During an interview with Crypto Chick, Justin Sun, the founder of TRON (TRX), he thinks that TRON might officially partner with Ethereum this year.

 

TRON to collaborate with Ethereum:

TRON has been quite ahead in terms of partnership all across the globe and this time Justin Sun mentioned that this year, the TRON blockchain will even collaborate with Ethereum. He said that in the future they are collaborating with a lot of Ethereum developers and also the Ethereum enterprises that are built on the Ethereum blockchain which would make the overall industry even better.

 

TRON Updates:

Justin Sun also mentioned about TRON’s second layer scalability solution that would be out in the 2nd Quarter this year and would help in increasing the transactional throughput more than hundred times and eventually lead to decreasing the overall fees on the TRON network. The founder had also tweeted about the same recently which is also known as the Sun Network. However, Sun did not announce the exact date of the launch.

 


 

According to Sun, a privacy feature will also be added to the TRON network in the 2nd quarter this year which shall be based on the Zk Snark’s technology which is currently used by ZCash.

 

USDT on TRON:

Justin Sun also mentioned about the upcoming USDT stablecoin on the TRON blockchain which is going to be launched tomorrow i.e. on the 9th of April this year. According to Sun, USDT stablecoin on the TRON blockchain will allow cheaper and rapid transactions than the current USDT stablecoin that is based on the Bitcoin Omni protocol.

 

Two prominent exchanges Houbi and Okex have already made an announcement about their support for the USDT that will be based on the TRON blockchain.

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#Ethereum Price Analysis

ETH to USD: Ethereum Price Analysis, Can ETH rise?

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Technical Indicators:

Support Level: $155

Resistance Level: $180

Key Points:

  • Ethereum price started to rise again breaking through $160 resistance level.
  • After rising up to $180, ETH started a downward correction.
  • A bullish pattern is being formed on the hourly chart with support around $153.
  • Ethereum price will remain bullish if it breaks through $180 resistance level.

 

Ethereum Price Analysis:

Summary: Ethereum price is currently trading in bullish momentum. ETH might break through $180 resistance level towards $200 if buyers remain in action.

ETH price momentum became quite bullish this week after breaking through $140 resistance level. Ethereum price settled well above $155 resistance level and the 100 hourly SMA. The upward move was quite strong and even broke through $170 resistance level. Ethereum went up to $182 to test the resistance between $180 and $185 before correcting downwards. However, the support around $155 stopped further losses.

Ethereum soon recovered upwards and moved over $165 resistance level. However, currently, ETH is facing a lot of selling pressure around $170 which could push the price back downwards. It Ethereum moves below $155 support level, it could turn bearish and fall towards $140 range, however, if the buyers remain in action and move the price above $180, it could result in ETH testing $200 range. There is a bullish pattern formed on the hourly chart with support around $153. Also, a breakout triangle is placed with resistance around $170.

ETHUSD Price Chart 7 April

ETH/USD Price Chart 7 April

The chart shows that Ethereum is currently bullish and well placed over $150 support level. However, if the price falls below $155, it could become bearish and fall back to $140 range.

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