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Ethereum Price Analysis: ETH Surging, More Upsides Likely Above $1,100

Ethereum price started a strong surge above $850 and $1,000 against the US Dollar. ETH price is currently trading well above $1,000 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near $800 on the 4-hours chart (data feed from Coinbase). The pair is likely to continue

The post Ethereum Price Analysis: ETH Surging, More Upsides Likely Above $1,100 appeared first on Live Bitcoin News.

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  • Ethereum price started a strong surge above $850 and $1,000 against the US Dollar.
  • ETH price is currently trading well above $1,000 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $800 on the 4-hours chart (data feed from Coinbase).
  • The pair is likely to continue higher towards $1,150 and $1,200 in the coming sessions.

Ethereum price is up over 30% in a few days and it broke the $1,000 level against the US Dollar. ETH/USD is consolidating gains and it is likely to continue higher above $1,100.

Ethereum Price Analysis

In the past few days, Ethereum saw a strong increase above the $800 barrier against the US Dollar. ETH price broke a couple of important hurdles near $880 and $950. There was also a clear break above the $1,000 level and a close above the 55 simple moving average (4-hours).

The price traded above the $1,100 zone and formed a new 2020 high near $1,168. Recently, it started a downside correction below the $1,000 and $950 levels. There was also a spike below the $900 level, but dips were limited.

A swing low was formed near $886 before the price started a fresh increase. It broke the $920 and $950 resistance levels. There was also a break above the 50% Fib retracement level of the downside correction from the $1,168 high to $886 low.

It is now trading above the 61.8% Fib retracement level of the downside correction from the $1,168 high to $886 low. There is also a major bullish trend line forming with support near $800 on the 4-hours chart.

On the upside, the $1,080 and $1,100 levels are important hurdles. A clear break above the $1,100 resistance zone could open the doors for more upsides. The next major resistance on the upside is near the $1,200 and $1,240 levels.

If there is another downside correction, the price might find bids near the $1,000 and $980 levels. The main support on the downside is now forming near the $850 level and the trend line at $800.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price is clearly trading well above $1,000 and the 55 simple moving average (4-hours). Overall, ether price is likely to continue higher towards $1,150 and $1,200 in the coming sessions.

Technical indicators

4 hours MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now well above the 50 level.

Key Support Levels – $1,000, followed by the $850 zone.

Key Resistance Levels – $1,100 and $1,200.

Tags: ETH, Ethereum Source: https://www.livebitcoinnews.com/ethereum-price-analysis-eth-surging-more-upsides-likely-above-1100/

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January 25, 2021& News

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Crypto Lawyer Stephen Palley Backs SEC, Says XRP Is A Security

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Ripple Would Still Prosper Even If XRP Was Declared A Security By U.S Lawmakers, Brad Garlinghouse Asserts

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A top lawyer and crypto enthusiast Stephen Palley has backed the SEC, saying that XRP is indeed a security. The company behind XRP, Ripple has been in court since late December last year following a suit by the SEC alleging that XRP was an unregistered security.

Prior to this, the XRP community had accused the Ripple management of periodically dumping the cryptocurrency on the market due to its highly centralized system. Ripple has denied this allegation severally before the SEC filed a suit against the company and its executives for selling and making a profit from XRP to the tune of $1.3 billion.

Though Ripple is ready to fight the SEC as it believes that XRP is not a security, some important personalities in the crypto space have affirmed the position of the SEC, one of which is Stephen Palley. Last week, Biden’s newly appointed head of the SEC, Gary Gensler said there may be more unregistered securities like XRP in the crypto space and there is a need to regulate them.

Although the case on XRP has not yet been concluded, the position of top cryptocurrency influencers such as Palley may give an insight into its outcome. Already, many exchanges have delisted XRP and the world’s leading digital assets manager Grayscale also removed it from its large-cap funds earlier this year.

Meanwhile, in Japan, XRP investors have taken a clear position of support for XRP as the court case proceeds. Ripple has a long-standing business relationship with one of Japan’s leading financial services company SBI Holdings. As a result, XRP has become accepted in the country and crypto investors there consider it to be a currency and not a security as the SEC alleges.

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Another country that has supported XRP and Ripple is the United Kingdom where XRP isn’t regarded as a security. Ripple CEO Brad Garlinghouse had earlier announced that the company was considering moving its headquarters to London before the SEC case began. If the court eventually rules in favor of the SEC then Ripple may have to find its place in one of these countries where it is welcomed.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/crypto-lawyer-stephen-palley-backs-sec-says-xrp-is-a-security/

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Ethereum shatters $1,448 ceiling and surges to touch new ATH

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Hot on the heels of Bitcoin, the world’s largest cryptocurrency, registering its own ATH a few weeks ago, it would seem that the world’s largest altcoin is intent on replicating BTC’s performance as well. Ether has now breached its previous ATH and registered a new high at $1476 in the early hours of 25 Jan.

Source: ETH/USD, TradingView

At the time of writing, ETH was valued at $1435, having seen a surge of close to 10 percent in the past 24 hours. This is interesting since the altcoin also surged to become one of the world’s top-100 assets by market cap at the start of the month.

ETH has been noting bullish momentum in the past few days despite Bitcoin continuing to remaining around the $33,000 price range. In fact, it breached the $1000-mark a few weeks ago and despite corrections and continued to mostly trade above the said level.

The bullishness in Ethereum’s market was recently highlighted by Paolo Ardoino, CTO of Bitfinex, in a release shared with AMBCrypto,

“The renewed interest in Ethereum isn’t a huge surprise given the strength of confidence in Bitcoin among institutional investors. Part of the profit taken on Bitcoin during this retracement may have been reinvested in Ethereum.”

Ardoino isn’t the only one to talk up Ethereum, however, with an earlier prediction stating that institutions will plan to purchase ETH this year, especially in light of the 8 February launch of ETH Futures on CME.

However, the crypto’s price gains could also be due to the release of Ethereum 2.0, among other reasons.

Previously, the original Ethereum network had attracted some negative comments. Moreover, even as DeFi’s Total Value Locked amounted to a whopping $20.5 billion on 6 January, the strain on the network had been intense for some time.

In October 2020, entities even began to look for Ethereum alternatives. For instance, SingularityNet, which complained about the slowness of the Ethereum network and the blockchain’s high gas fees, decided to migrate some of its network onto the Cardano blockchain. 

Source: CryptoCompare

Despite such issues that have for long plagued the network in 2020, the price of ETH has continued to rally. Additionally, Ether volumes have surged over the past month, according to data from CryptoCompare.

ETH’s last ATH of $1,448 was touched back in January 2018. In light of a booming DeFi economy, the phased Ethereum 2 upgrade, and the Bitcoin rally, it would seem that more ATHs may be in the future for the world’s largest altcoin. 

Source: https://ambcrypto.com/ethereum-shatters-1476-ceiling-and-surges-to-touch-new-ath

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