ETH
Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?
Published
2 weeks agoon
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adminThe second-largest crypto token by market cap, Ethereum (ETH), finally showed some form of life as it rose to $3,300 over the weekend. This move is believed to be the beginning of a trend reversal for the crypto token, which has several bullish signals on its chart.
Ethereum Has A Bullish Chart
Crypto analyst Derek revealed in an X (formerly Twitter) post that the signals on Ethereum’s Moving Average Convergence/Divergence (MACD) indicator “seem to have ended the decline and changed upward direction.” He also highlighted the Ethereum Dominance chart, which has confirmed three bottoms and gave a strong rebound.
The analyst explained that “leading a rebound after confirming the bottom three times means that further decline is unnecessary, and there is a high possibility that there is no intention to do so.” Interestingly, the analyst drew attention to the fact that Ethereum has experienced this price rebound without volume.
Source: X
This phenomenon occurs when individual investors are more active than institutional ones who are more cautious during this period. This instantly brings recent buys by Ethereum whales like Justin Sun into the picture, as they have contributed significantly to Ethereum’s recent resurgence.
NewsBTC recently reported that a wallet believed to belong to the TRON founder recently bought $405 million worth of Ethereum. This wallet and another suspected to belong to Sun have accumulated $891 million worth of ETH since February 12. Meanwhile, NewsBTC also reported about another whale, who, despite losing $4.5 million worth of longing ETH, opened another long worth over $17 million.
Other Bullish Signals For ETH
Crypto analyst Trader Tardigrade recently revealed that Ethereum experienced a decent breakout to a descending trendline on the daily chart of its Bitcoin pair. He added that Ethereum’s Relative Strength Index (RSI) also shows an associated breakout from a symmetrical triangle.
The crypto analyst claimed that the value of the RSI is also now above 50, which is considered bullish for a crypto token. Based on these signals, Trader Tardigrade stated it is “time for Ethereum.” He also suggested that other altcoins will moon once Ethereum begins its parabolic move to the upside.
Derek also predicted this, stating that the “rise of Ethereum will drive the explosive rise of altcoins that have been oppressed.” While sharing his bullish sentiment towards Ethereum, crypto analyst Crypto Prof echoed a similar sentiment, remarking that altcoins will “run even more” as Ethereum trades significantly higher in the coming months.
Before now, Crypto expert Michaël van de Poppe predicted that the narrative would shift toward Ethereum post-halving and that the crypto token and other altcoins would bounce in their Bitcoin pair once the hype around the halving was over.
At the time of writing, Ethereum is trading at around $3,170, down over 1% in the last 24 hours, according to data from CoinMarketCap.
ETH price sitting above $3,100 | Source: ETHUSD on Tradingview.com
Featured image from AMBCrypto, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,’ Says ETH Will Only Go Up if Bitcoin Does This
Bitcoin
Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,’ Says ETH Will Only Go Up if Bitcoin Does This
Published
7 days agoon
May 9, 2024By
adminThe widely followed analyst Benjamin Cowen is saying that Ethereum (ETH) is at risk of facing more downside over the coming months.
In a new video, Cowen tells his 801,000 YouTube subscribers that monetary policy is likely to negatively affect Ethereum.
“I think that ETH/USD is still facing some headwinds here, especially following the potential rejection of the spot exchange-traded fund (ETF)…
…I think the impact that people are going to feel is just from tighter monetary policy. They’re going to blame it on the spot ETF and they’re going to capitulate potentially into that.”
According to Cowen, the Ethereum could go up on one condition.
“If ETH goes up from here, it would only be due to Bitcoin going up a lot more.”
The widely followed analyst says that the Ethereum/Bitcoin (ETH/BTC) pair, on the other hand, is likely to keep falling under most circumstances based on history.
“So if Ethereum goes up, Ethereum/Bitcoin is probably going to keep going down. If Bitcoin goes sideways, Ethereum/Bitcoin is going to keep going down in my opinion. And if Bitcoin goes down, Ethereum/Bitcoin probably goes down because Bitcoin has been doing all s of things since 2022 began. In eight of 10 quarters, Ethereum/Bitcoin has gone down whether Bitcoin went up, down or sideways. Ethereum/Bitcoin generally went down.”
ETH is trading at $3,002 at time of writing.
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Altcoins
Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash
Published
1 week agoon
May 8, 2024By
adminThe hacker who looted the crypto exchange Poloniex has started moving Ethereum (ETH) to the mixing service Tornado Cash, according to the digital asset de-anonymizing platform Arkham.
Arkham notes the hacker moved 1126.1 ETH worth more than $3.4 million into Tornado Cash across a series of 20 transactions on Monday and Tuesday.
They represent the exploiter’s first moves into the controversial Ethereum-based crypto mixer, which helps users conceal their digital assets.
The hacker raided Poloniex in early November, stealing $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of Bitcoin (BTC), as well as smaller amounts of other crypto assets.
The exchange, which is owned by Tron founder Justin Sun, offered a 5% white hat bounty that went unaccepted. and the hacker still holds $181.47 million worth of crypto in their primary address, according to Arkham.
Justin Sun-affiliated projects have endured a prolific string of attacks in the past several months: In September, hackers exploited the Sun-linked exchange giant HTX for approximately 4,999 Ethereum worth $7.9 million, according to the blockchain security firm PeckShield.
Then in November, hackers hit HTX and Heco Bridge, another Sun-linked project that’s used to move funds between Ethereum and energy-saving blockchain Heco Chain, for a combined $100 million, according to cybersecurity firm Cyvers.
And in January, hackers once again struck HTX, hitting the exchange with a distributed denial of service (DDoS) attack that caused a brief outage.
A DDoS attack is a malicious attempt by bad actors to flood the target website with traffic to overwhelm the site’s infrastructure.
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coinbase
Crypto Whale Withdraws $75.8 Million in USDC From Coinbase To Invest In Ethereum’s Biggest Presale – Blockchain News, Opinion, TV and Jobs
Published
1 week agoon
May 8, 2024By
adminA crypto whale has withdrawn $75.8 million USDC from Coinbase institutional and invested a significant amount in Ethereum’s biggest presale, ETFSwap (ETFS).
An anonymous crypto whale reportedly withdrew a whopping $75.8 million in USDC from their Coinbase Institutional account on Friday night. This move follows the bull market widely predicted to happen in the coming weeks. An in-depth investigation into the event reveals that a large chunk of the money was used to acquire ETFSwap (ETFS) tokens in Ethereum’s biggest presale, making waves in the crypto community.
Crypto Whale Withdraws $75.8 Million In USDC From Coinbase Institutional
Whale Alert, an X (formerly Twitter) account notable for reporting large and exciting transactions in the crypto community, shared the news of a colossal $75.8 million USDC withdrawal from Coinbase institutional to an unknown wallet on Friday night.
The post that went viral in the crypto community has caught the attention of crypto enthusiasts, garnering several reactions. Some enthusiasts insist that the anonymous whale enacted the move to diversify their portfolios and gain big in the upcoming bull market later this year. Others believe that the whale wants to sell off the majority of their holdings and probably settle some of the debts they accrued.
However, whichever the case may be, a click on the web link to the eye-catching transaction shows that the anonymous transaction was made from a Coinbase Institutional account to a new project, ETFSwap (ETFS), firmly believed to be Ethereum’s biggest presale.
ETFSwap (ETFS) Becomes Ethereum’s Biggest Presale
Like the anonymous whale that bought a large amount of the ETFSwap (ETFS) presale tokens, thousands of crypto investors are still flooding into the presale, with over 50 million tokens already sold out in what is now believed to be Ethereum’s biggest pressale. This reiterates the fact that the crypto community believes in the viability and genuineness of the ETFSwap (ETFS) platform.
ETFSwap (ETFS) is an Ethereum-based decentralized finance (DeFi) platform that enables users and investors to buy, trade efficiently, and own a wide variety of cryptocurrencies and tokenized exchange-traded funds (ETFs) in a one-stop shop.
This innovative platform has come at a time when the tokenization of Real-World Assets (RWAs) is being embraced in the cryptocurrency world. At the forefront of this niche, ETFSwap (ETFS) users and investors enjoy the benefits provided by the innovation and flexibility of the decentralized finance realm while trading their various assets.
With the market-making and perpetual futures services available on the platform, trading is fun, seamless, liquid, and efficient on ETFSwap (ETFS). Consequently, users and investors are assured of continuous trading activities without any expiration dates.
Users can also take absolute advantage of the leverage tool on the platform. The ETFSwap (ETFS) platform enables users and investors to amplify their gains with the 10x leverage option provided. This tool is great for seasoned investors who want to maximize their gains by up to 1,000%, meaning a $1,000 gain can easily be turned into a $10,000 gain.
Another feature that has swept crypto enthusiasts off their feet is that on ETFSwap (ETFS), users and investors are not required to undergo rigorous KYC verification. They are afforded the platform to trade anonymously. This will, in return, absolve them of any third-party interference, such as banks or regulated bodies.
Additionally, CyberScope, a leading blockchain security provider, has audited ETFSwap’s (ETFS) smart contracts, and the results show their resistance to cyberattacks.
Whale’s Investment In The ETFSwap (ETFS) Presale Sends Crypto Community Into A Buying Frenzy
After the whale invested a large amount of his withdrawal from Coinbase into the ETFSwap (ETFS) presale, the platform has seen major market activity, with investors actively buying the token.
Presently, in Stage 1 of the presale, the ETFS token is priced at $0.00854 and is selling fast due to this being the lowest price the token will ever be. Therefore, there is no better time to invest in the highly esteemed ETFSwap (ETFS) project than now, especially after analysts have predicted it will go parabolic when the bull run begins.
For more information about the ETFS Presale:
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