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Ethereum Market Report: Slightly Bullish

December 30 2018 17:51 UTC   Ethereum has gained 1.91% or 2.54 USDT in twenty-four hours. In this Weekend Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.   Price Action The price of $ETH has risen over twenty-four hours. The last price at press time […]

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December 30 2018 17:51 UTC

 

Ethereum has gained 1.91% or 2.54 USDT in twenty-four hours. In this Weekend Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.

 

Price Action

The price of $ETH has risen over twenty-four hours. The last price at press time is 135.68 USDT. In Binance moderate to heavy volume trading the daily change is 1.91%, or 2.54 USDT:
$ETH Price Change
period % USDT
24 hours 1.91 2.54
7 days 5.15 6.65
1 month 19.32 21.97

News

Trend

trend is UP

The Ethereum three day trend is up. After a nine day Christmas Rally which started on December 15 2018 $BTC nosed downwards – and ether slid with it on December 24 2018. Ether dipped again on the 26th but the three days since has shown upwards price movement.

[Trend is "up" when the three day price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is strongly bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

eth-usdt-binance-four-hour-candles-2018-12-30

 

Remarks

The latest $ETH leg shows some promise of upwards lift.

Ether showed strong upwards moves during five 4 hour sessions late on the evening of the 27th. A later spike pushed a session high to $145.42 at noon on the 29th for a four hour session scope of $13.42. The high did not hold and the candlestick pattern shows bulls testing $ETH resistance as ether climbs higher.

The up trend scenario of today and ether (report generation) last price of $135.68 contrasts starkly against this month’s – and this year’s – December 15 2018 low of $81.79.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bullish. The last thirteen 4 hour sessions have all been bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 134.28
25 day 130.05
99 day 118.54

The short term EMA(7) is above both the medium EMA(25) and long term EMA(99). The four hour chart shows the EMA(7) gently sloping up. This is a bullish state.

The one hour chart shows EMA(7) leveling out with a slightly nosing down angle. This one hour look is neutral to very slightly bearish.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the four hour chart is 59.2. This is a neutral state.

There’s room to move either way.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is -0.19%. This may exert a neutral influence on Ethereum today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Ethereum $ETH Price Outlook

slightly bullish

  • the Ethereum $ETH price outlook is slightly bullish
  • if the price finds acceptance at higher levels the major resistance prints at 137
  • if the price finds acceptance at lower levels the major support prints at 113
Resistance levels: 137 145

Support levels: 113 127 131

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

 

Analysis Duration: four hours

This report is for a short term duration of four hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 30 2018 17:51 UTC.]

 

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Ethereum $ETH
Time Period: 5 Hours
Summary: strong buy
Moving Averages: buy
Technical Indicators: strong buy

 

Disclosure

The author does not hold Ethereum $ETH at the time of writing.

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Source: http://allcoinsnews.com/2018/12/30/ethereum-market-report-slightly-bullish/

Blockchain

Hacked? Crypto Lending Platform Cred Suspends Deposits And Withdrawals While Cooperating With Authorities

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The popular cryptocurrency lending service Cred has announced that it has temporarily suspended all funds inflows and outflows. Without disclosing many details, the platform said it’s cooperating with law enforcement authorities to investigate an incident.

Cred Suspends Deposits And Withdrawals

The United States-based crypto lending platform, which recently announced joining Visa’s fast track program, updated its customers on Twitter regarding the latest troubling developments with a brief message.

“Unfortunately, we are unable to comment further at this time, but we will undertake to provide an update within the next two weeks. During this period, all inflows and outflows of funds will be suspended.” – read the statement.

Staying true to its fashion, the cryptocurrency community lashed out at Cred and its lack of details about what’s going on. This reaction prompted the lending protocol to comment once again. Firstly, Cred apologized for the concerns and inconveniences it has caused while it’s assessing the “business impact connected with a recent fraudulent incident.”

Furthermore, the post explained that Cred is currently cooperating with law enforcement authorities. However, it provided some reassurances claiming that “no client personal data or account information was compromised.”

It’s worth noting that Cred’s website reads that the platform works with “trusted security and insurance providers Fireblocks and Lockton to ensure that our customers’ digital assets have enterprise-grade security.” Nevertheless, several community members have questioned the state of their holdings on the platform, as they weren’t satisfied with Cred’s brief updates.

A Dissolved Partnership Saw This Coming?

Although it’s still unconfirmed if the so-called “incident” is indeed a hack, it seems that the issues have been transpiring for a while now. Days before Cred suspended deposits and withdrawals, one of its partners ended its relationship with the lending protocol.

The cryptocurrency wallet and trading platform, Uphold, announced on Sunday that users could no longer link their Uphold wallets to the third-party crypto lending provider Cred.

At the time of this writing, neither Uphold nor Cred have disclosed why their partnership agreement ended.

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Source: https://cryptopotato.com/hacked-crypto-lending-platform-cred-suspends-deposits-and-withdrawals-while-cooperating-with-authorities/

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Renowned Indian-American Author Deepak Chopra May Buy Bitcoin

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Deepak Chopra’s name is synonymous with meditation, mindfulness, and healing through healthy living. And according to the latest update, the world-renowned author and thought-leader is considering buying bitcoin. Mr. Chopra is also about to launch ‘Love in Action,’ his own blockchain-based token.

Deepak Chopra Officially Enters The Blockchain Space

It is important to note that Mr.Chopra had already stoked the ire of Ethereum bigwigs more than 2 years ago for being announced as a speaker at the Ethereal conference in New York in 2018. Vitalik Buterin himself blasted him as a ‘fraud’ publicly on Twitter. Nonetheless, the talk went well, as per Mr. Chopra.

Fast forward to 2020, the globally revered public speaker has announced his plans to officially launch his own token. Termed ‘Love in Action,’ its launch will coincide with Suicide Prevention Week. In the words of the Chopra Foundation, the token is a “worldwide campaign to heal the world.”

deepak_chopra_cover
Deepak Chopra. Image: CNBC

When the ex-United States (FDIC) regulator turned blockchain regulation commentator Jason Bretts tapped Chopra for technical details about the token, the latter said:

We are currently working on our strategic roadmap for the ‘Love In Action’ token. Our goal is to leverage the ‘proof of state/work’ on the Hedera platform to incentivize healthy behaviors and promote wellbeing via the token. We will initially leverage hbar as the currency and convert to our own coin in the latter part of 2021.

Mr.Chopra Also Considers Buying Bitcoin

Taking cues from Mr.Chopra’s famous interview with Oprah Winfrey, Jason marveled at the idea of Deepak sending some bitcoin to the popular celebrity talk show host. He contemplated mass adoption being sparked by that one event alone, recalling his prime goal to convince the meditation guru to buy BTC.

When the Value Technology Foundation President finally asked Mr. Chopra about his bitcoin holdings, the latter replied:

I have not bought any Bitcoin to date, but have been keen on cryptocurrency and how it can be used.

The mind-body healing practitioner also said that he doesn’t own any hbars, the native token of the blockchain protocol, which will power his own DLT project.

Brett, in his article, notes that it is not necessarily for everyone to buy bitcoin or any other cryptocurrency for that matter. It can also be just about leveraging the underlying technology for social good, which in Mr. Chopra’s case, involves improving people’s mental well-being.

Lastly, the ex-ConsenSys Policy Ambassador appreciated Mr. Chopra’s efforts at utilizing blockchain to help people live better. He said:

To the degree blockchain can be used by mental health professionals – or any professional – to help validate the truth of a person’s certification or to validate a person’s well-being seems like an excellent use of it.

Featured image courtesy of CNBC

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Source: https://cryptopotato.com/renowned-indian-american-author-deepak-chopra-may-buy-bitcoin/

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Ripple Price Analysis: XRP Sees 3-Year Lows Against Bitcoin, More Downside Ahead?

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XRP/USD – Bulls Battling To Defend 100-days EMA

Key Support Levels: $0.24, $0.23, $0.228.
Key Resistance Levels: $0.251, $0.261, $0.271.

XRP struggled to break a falling resistance trend line at the start of the week – close to $0.26. As a result, the coin started to decline in the past few days. Although it has spiked lower, the buyers have defended the 100-days EMA at the closing price every day this week.

The previous triangle has been re-adjusted for the continued sideways movement and XRP is still trading within the boundaries. A break beneath this triangle is likely to send XRP back toward the September lows at $0.22.

xrpusd-oct29
XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, if the sellers push beneath the 100-days EMA and the lower boundary of the triangle, the first level of support lies at $0.24 (200-days EMA). Beneath this, support lies at $0.23, $0.228 (.618 Fib), and $0.22 (September lows).

On the other side, the first level of resistance lies at $0.251 (bearish .382 Fib). Above this, resistance lies at the upper boundary of the triangle, $0.261 (bearish .5 Fib), and $0.271 (bearish .618 Fib).

The RSI has now dipped beneath the mid-line to indicate that the sellers have taken charge of the market momentum. If it continues to fall, the selling momentum will increase and push XRP beneath the 100-days EMA.

XRP/BTC – XRP Hits 34-Month Low Against Bitcoin

Key Support Levels: 1800 SAT, 1780 SAT, 1755 SAT.
Key Resistance Levels: 1865 SAT, 1900 SAT, 1950 SAT.

The situation for XRP against BTC is in a totally different scenario. The coin dropped beneath the support at 1950 SAT a couple of days ago and headed toward the 1810 SAT level today. In doing so, XRP has now reached lows that have not been seen since December 2017.

With the coin looking so bearish, it is unlikely that the downtrend will stop here, and we are likely to see it heading toward 1700 SAT over the coming days.

xrpbtc-oct29
XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Looking ahead, once the sellers push past 1810 SAT and break beneath 1800 SAT, the first level of support lies at 1780 SAT. Beneath this, added support lies at 1755 SAT, 1730 SAT, and 1700 SAT.

On the other side, the first level of resistance lies at 1865 SAT. This is followed by resistance at 1900 SAT (July 20’ Low), 1950 SAT, and 2000 SAT.

Both the RSI and Stochastic RSI are incredibly oversold. A bullish crossover on the Stochastic RSI would be the first signal that the coin is ready to rebound.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/ripple-price-analysis-xrp-sees-3-year-lows-against-bitcoin-more-downside-ahead/

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