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A Message From Bitstamp CEO Nejc Kordic

A Message From Bitstamp CEO Nejc Kordic

Our data confirms what was beyond even our most optimistic forecasts for customer growth in the past year. Under normal circumstances this would be cause for celebration, but we are certainly far from feeling in celebratory mood. Our customers have experienced often lengthy delays, causing […]

Worlds on Blockchain – The Lix Platform

Worlds on Blockchain – The Lix Platform

The world has fallen into a frenzy over Cryptocurrencies and the blockchain technology. As mutual funds, stock options brokers and banks rush in to bank on the biggest rise to date, the beginnings of Bitcoin are being forgotten. Nowadays we can read many articles with […]

Ether Price Outlook Gloomy After Again Falling Below $1K

Ether Price Outlook Gloomy After Again Falling Below $1K

The price of ether, ethereum’s native token, is likely to head south unless the bulls can quickly pull the price back over $1,160 levels, price chart analysis indicates.

On Coinbase’s GDAX exchange, ether hit a one-week low of $905 at 11:50 UTC today. A sharp recovery from the last week’s low of $757 ran out of steam at $1,164 over the weekend. The subsequent drop to sub-$1000 levels has left a lower high (bearish action) on the charts. As of writing, the cryptocurrency is changing hands at $930 levels on GDAX exchange.

ETH has depreciated by 8 percent in the last 24 hours, according to data from OnChainFX. Further, prices are down 20 percent from the weekend high of $1164. Still, the technical charts are now showing oversold conditions.

The price charts indicate that ether will mostly likely erase the 22 percent gains made since last week’s low of $757 in a slow and steady manner over the next couple of days.

4-hour chart

The above chart (prices as per Coinbase) shows:

  • ETH left a lower high at the key 61.8 percent Fibonacci retracement level of $1,166.71 over the weekend. The decline witnessed in the following 24 hours yielded a bearish crossover between the 50-day moving average (MA) and 100-day MA (short-term average cuts long-term average from above).
  • The rejection at 61.8 percent Fibonacci level indicates the corrective rally has ended and the bears have regained control.
  • 50-day MA carries a strong bearish bias (sloping downwards), while the 100- and 200-day MAs are neutral.
  • The relative strength index (RSI) shows scope for further losses (being below 50.00) and well short of the oversold territory (below 30.00).

Ether chart

  • The daily RSI shows a triple top breakdown-like pattern, indicating potential for a sell-off back towards to last week’s low of $757.
  • The ascending trendline could offer support at $752.
  • The 50-day MA is close to being topped out (shedding bullish bias).

View

  • Ether looks set to close below $927.29 (38.2 percent Fibonacci retracement of the rally from the July low to January high) and extend losses to $775 (50 percent Fibonacci retracement) in the near-term. A violation there would expose trendline support of $752.
  • A close (as per UTC) below $752 may signal a longer-term bullish-to-bearish trend change.
  • Bullish scenario: A close (as per UTC) above $1,164.97 (Jan. 20 high) would revive the bullish view.

Umbrella image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Interested in offering your expertise or insights to our reporting? Contact us at news@coindesk.com.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Bear Grip Strengthens as Bitcoin Price Nears $10K

Bear Grip Strengthens as Bitcoin Price Nears $10K

Having closed below key long-term moving average yesterday, bitcoin (BTC) prices look set to explore sub-$10,000 levels. Prices on CoinDesk’s Bitcoin Price Index fell to a low of $10,050.79 yesterday and dipped below $10,000 soon before publishing. At press time, BTC had bounced back to […]

Ethereum Price Technical Analysis – ETH/USD Bearish Below $1030

Ethereum Price Technical Analysis – ETH/USD Bearish Below $1030

Key Highlights ETH price declined recently and traded toward the $900 level against the US Dollar. There is a key bearish trend line forming with resistance at $1030 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair has to move above the […]

Bitcoin Cash Price Technical Analysis – BCH/USD Struggling below $1800

Bitcoin Cash Price Technical Analysis – BCH/USD Struggling below $1800

Key Points

  • Bitcoin cash price made a downside move recently and traded below $1800 against the US Dollar.
  • There is a new connecting bearish trend line forming with resistance at $1650 on the hourly chart of BCH/USD (data feed from Kraken).
  • The pair has to move above the $1650 and $1700 resistance levels to gain upside traction.

Bitcoin cash price traded below the $1800 and $1700 supports against the US Dollar. BCH/USD is likely to remain in a downtrend as long as it is below $1700.

Bitcoin Cash Price Decline

There was a steady decline noted in bitcoin cash price from the $2000 swing high against the US Dollar. The price declined and moved below the $1800 and $1700 support levels. It even broke the 50% Fib retracement level of the last upside leg from the $1350 low to $2132 high. It opened the doors for more losses and the price traded toward $1500.

A low was formed at $1503 and the price is currently correcting higher. It is testing the 23.6% Fib retracement level of the last decline from the $2125 high to $1503 low. There is also a new connecting bearish trend line forming with resistance at $1650 on the hourly chart of BCH/USD. A break above the trend line resistance at $1650 is needed for buyers to gain control. Above $1650, the next major resistance is at $1800 and the 100 hourly simple moving average. It is also the 50% Fib retracement level of the last decline from the $2125 high to $1503 low.

Bitcoin Cash Price Technical Analysis BCH USD

Therefore, a break above the $1800 resistance would be a good positive signal. On the downside, the $1500 level is a major support and must hold to avoid further declines.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is struggling to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is recovering higher toward the 45 level.

Major Support Level – $1500

Major Resistance Level – $1650

Charts courtesy – Trading View, Kraken

AltcoinToday.com

Photo via Pixabay

Source: Newsbtc

Bitcoin Price Technical Analysis for 01/23/2018 – How Low Can It Go?

Bitcoin Price Technical Analysis for 01/23/2018 – How Low Can It Go?

Bitcoin Price Key Highlights Bitcoin price continues to trend lower and has barely found support after the previous retest of a broken short-term trend line. Price is still inside its longer-term descending channel and looks ready for another move towards support. Applying the Fib extension […]

Bitcoin Slides More Than 10 Percent to Near $10,000 Level

Bitcoin Slides More Than 10 Percent to Near $10,000 Level

The price of bitcoin is down more than 10% today, according to CoinDesk’s Bitcoin Price Index (BPI). At press time, the cryptocurrency’s price is trading around $10,237.28, a decline of roughly 10.92% from the day’s open of $11,522.86. As it stands, the current value is near […]

Matbea.net Wallet: Bringing More Clarity to Bitcoin Users

Matbea.net Wallet: Bringing More Clarity to Bitcoin Users


While you’re thinking about saving your Bitcoins and spending them wisely without letting anybody cheat you, the team from Great Britain created a service called Matbea.net.

This is the first, absolutely free service which lets you know who owns a particular bitcoin-address. Stop! You may be curious about the anonymity of the cryptocurrency, yes?

Matbea.net argues for the transparency of transactions, keeping the personal information of the holder of the address in secret, but allowing to find out which exchange or company owns a particular address. In case the recipient is a fraudster, Matbea.net will help to find out where the Bitcoins were sent. After that it’ll be possible to involve the police, who will find a way to reveal the identity of the fraudster and catch them.

So it turns out that the Matbea.net protects transactions from criminals who can use Bitcoin for money laundering or purchase and sell guns and drugs. The service protects users from some operations, for which governments often scold the cryptocurrency and plan its banning all over the world.

The database of Matbea.net is constantly growing and now has more than 87,000,000 addresses. There are well-known companies, trading platforms and crypto-exchange exchanges among them. For example, the service stores more than 28,810,000 Coinbase.com addresses, over 3,000,000 addresses of BitPay.com, more than 2,460,000 addresses of AlphaBay Market, more than 630,000 addresses of Localbitcoins.com and more than 530,000 addresses of Bitfinex.com.

Matbea.net is available in five languages: English, Spanish, German, Russian and Chinese. The registration in the service is simple, you just need to enter your email address and create a strong password. Attention! Only registered users can see owners (holders) of bitcoins-addresses.

However, even without registration, Matbea.net offers some useful options. Without registering on the site each user can create a bitcoin-wallet and generate a private key which isn’t stored on the site. Bitcoin-wallet’s users of Matbea.net can try one more function called double spend. It is extremely useful if the transaction has not enough commission to confirm it.

The developers of the service remind everyone that first of all Matbea.net was created to protect the bitcoin users from scammers or to help them to expose such scammers.

The specialists of Matbea.net are always ready to answer any questions. For more information or help simply email: support@matbea.net

Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green

Crypto Market Update: Coins Down Across The Board After Brief Stint Of Green

After a volatile beginning of the new year, the crypto markets are again falling across the board. Almost all of the top twenty coins on CoinMarketCap are in the red on Monday, Jan. 22, with the biggest loss around 13 percent over a 24 hour period. Bitcoin […]