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Tokenized Equities Will Boost Market Confidence For Both Issuers and Investors

Small to medium-sized businesses play an important role in the economic development of a country. Their role in terms of production, employment generation, contribution to exports and facilitating equitable distribution of income is very critical. They also supply essential products for mass consumption and exports. Banks hardly give loans Despite the importance of this sector … Continue reading Tokenized Equities Will Boost Market Confidence For Both Issuers and Investors

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Small to medium-sized businesses play an important role in the economic development of a country. Their role in terms of production, employment generation, contribution to exports and facilitating equitable distribution of income is very critical. They also supply essential products for mass consumption and exports.

Banks hardly give loans

Despite the importance of this sector to the economic life of any given nation, the universal norm remains that it is difficult for them to have access to much-needed funds for proper development and establishment. Most banks are reluctant to issue loans to small businesses due to the high-risk level associated with emerging businesses. This might be because of the absence of collateral, or as a result of the fact that such businesses hold no proven track records in most cases in order to meet up with the standards set by the banks.

The ICO escape

The advent of the decentralized and unregulated crowdfunding system known as Initial Coin Offering (ICO) happens to provide a huge bailout opportunity for both emerging and existing businesses who may find it difficult to meet up with the standards of the banks and other financial institutions. This ICO model enables a crowdfunding process that cuts through geographical boundaries on a global level. This system makes it possible for different classes of individuals from across the globe to be able to contribute towards a project without much difficulties.

Apparently, the ICO model spreads the risk across numerous contributors who are left with independent tokens that do not necessarily retain any equity from the parent business or company. The token’s values are only determined by general economic forces in the token marketplace. This phenomenon largely exempts the token vendors from any responsibility and is suspected to be one of the major reasons why inconsistencies exist in the ICO ecosystem, and why examples of fraud and dishonesty are rampant.

In essence, traditional pathways leave the entire business environment shortchanged with inefficient and unsustainable financing procedures, while implementing the ICO model opens up a huge potential for the market, but comes with associated loopholes that form a setback to the entire ICO ecosystem.

The balance point

Finding the balance by introducing a system where the shackles of difficulty in fundraising are broken, while investors are protected by retaining tokenized equities of their businesses of interest is the ultimate objective of Stamps Platform.

The Stamps platform is an alternative to the traditional ICO model; Stamps will provide a safe, inexpensive and transparent path for businesses to issue equity in the form of tradable tokens that represent an ownership share of their company. This medium allows businesses to reach a growing community of STAMP enthusiasts interested in emerging technologies and innovative business ideas.

When a business chooses to issue equity tokens through the Stamps platform, they will retain a portion of them, while the rest are gifted to STAMP coin holders, similar to the ever so popular “AirDrop” model. Once a market has formed, the business can then liquidate a portion of their retained equity tokens on the open market to fund their operations as needed. If the market fails to form in an agreed timeframe, the equity will be returned to the issuer.

As you can see there is a very little risk to the issuing business, but this is not a one-sided affair, there are also many benefits for the equity token holders. Just by holding the equity tokens one will be receiving legal ownership rights of the issuing business. There are also Bitcoin Dividend Payments, Voting Privileges, Merger/Acquisition Payouts, and all of the legal privileges that come along with holding equity shares.

The STAMP Coin distribution is planned in an ICO with a Soft Cap Raise of $1 mln and a Hard Cap Raise of $89 mln.

The Stamps Platform is designed to achieve the ultimate balance where every participant will be adequately protected, be it the equity token issuer or the holder. A confidence filled market is indeed a potentially robust market.

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CRYCASH Announces Its Token Sale and Partners With Crytek Immediately Bringing Cryptocurrency to Millions of Gamers

СRYCASH, an independent decentralized ecosystem of products for gamers fueled by its CRYCASH token, announces its crowdsale will start December 12. In preparation for this token sale, CRYCASH has already established its first partnership with Crytek, the videogame developer and publisher of the legendary original FarCry and Crysis franchise. Within this cooperation Crytek will use … Continue reading CRYCASH Announces Its Token Sale and Partners With Crytek Immediately Bringing Cryptocurrency to Millions of Gamers

The post CRYCASH Announces Its Token Sale and Partners With Crytek Immediately Bringing Cryptocurrency to Millions of Gamers appeared first on NEWSBTC.

СRYCASH, an independent decentralized ecosystem of products for gamers fueled by its CRYCASH token, announces its crowdsale will start December 12. In preparation for this token sale, CRYCASH has already established its first partnership with Crytek, the videogame developer and publisher of the legendary original FarCry and Crysis franchise. Within this cooperation Crytek will use the CRYCASH platform as an advertising service to attract new players to its current and future products and implement CRYCASH as one of the payment methods in the CRYENGINE Marketplace. Also, Crytek will integrate the CRYCASH token into its online games where suitable, starting with Warface Turkey.

Wachtang Budagaschwili, CRYCASH CEO, said: “The gaming industry lacks effective tools for players to monetize their game time, collaborate and communicate. On the other side, game developers are also challenged by high customer acquisition costs and comparatively long time to market. CRYCASH solves these problems by introducing revolutionary custom-tailored products for players and developers. We’re proud to start our token sale having Crytek as our first partner which will allow us to immediately bring CRYCASH to millions of players”.

Crytek Managing Director Faruk Yerli said: “Already several times Crytek has revolutionized video gaming industry with its award-winning products such as the original FarCry, Warface, Crysis Franchise, and Ryse: Son of Rome and that have been enjoyed by more than 50 million players around the world. Being a trendsetter in gaming, our strategy is to introduce the benefits of new technologies before they become mainstream. We’ve been looking into blockchain for a while now and, having reviewed various cooperation proposals, we finally chose CRYCASH as a technological partner. We were impressed by the team’s innovative approach to creating products that can add great value to players, and for Crytek it’s a new business opportunity to attract additional gamers.”

The CRYCASH Ecosystem will offer four major components:

1)   Plink – the first application for gamers designed for collaboration and communication among players and receiving CRYCASH tokens for completing tasks from game developers and advertisers. Plink will also be used as a wallet for CRYCASH holders;
2)   Marketplace for CRYENGINE community with built-in SDK of the blockchain-based CRYCASH platform where CRYCASH token holders can pay for in-game assets and services;.
3)    Advertising platform for game developers;
4)   CyberSports platform for gaming tournaments, eSports betting, and events.

The CRYCASH ecosystem will utilize its own CRYCASH token. To ensure its seamless flow within the ecosystem and secure its stability, CRYCASH will apply its BuyBack model which implies spending up to 80% of profits for buying the CRC token at exchanges to reward users for completing tasks set by game developers.

CRYCASH (CRC) will start its token sale on December 12, 2017, 19:00 UTC, and run it through January, 15, 2018, 18:59 UTC. Early birds will receive a 15% bonus within the first 120 hours of the token sale. Then the bonus amount melt by 1% each 24 hours until 18:59 UTC on December 31, 2017. The initial price is set 0.001 ETH per 1 CRC. There’s a 20% ‘big fish’ bonus throughout the whole token sale for those willing to contribute 200+ ETH. Currencies accepted: BTC, ETH, BCH, LTC, DASH. All contributors will receive a chance to be the first to test Plink – the revolutionary application for gamers.

Register at http://crycash.io/ to buy CRYCASH, follow us on https://twitter.com/cry_cash

About CRYCASH Ecosystem

CRYCASH is a decentralized ecosystem of custom-tailored products for gamers consisting of Plink, a dedicated mobile application for players’ communication and collaboration and a wallet for CRYCASH earned for completing game tasks; a marketplace for virtual items trading; Cyber Sports platform for eSports betting and events; and an advertising platform for game developers. The CRYCASH ecosystem utilizes its own CRYCASH token with already confirmed partnership with game developer and publisher Crytek, whose games are enjoyed by millions of players around the world. Visit CRYCASH to learn more.

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Bitcoin Cash Price Weekly Analysis – BCH/USD Struggling Above $1500

Key Points Bitcoin cash price is following a decreasing slope and is facing sellers near $1480-1500 against the US Dollar. There are two major bearish trend lines forming with resistance at $1410 and $1440 on the 4-hours chart of BCH/USD (data feed from Kraken). The pair is currently moving down and is approaching the $1150-1100 … Continue reading Bitcoin Cash Price Weekly Analysis – BCH/USD Struggling Above $1500

The post Bitcoin Cash Price Weekly Analysis – BCH/USD Struggling Above $1500 appeared first on NEWSBTC.

Key Points

  • Bitcoin cash price is following a decreasing slope and is facing sellers near $1480-1500 against the US Dollar.
  • There are two major bearish trend lines forming with resistance at $1410 and $1440 on the 4-hours chart of BCH/USD (data feed from Kraken).
  • The pair is currently moving down and is approaching the $1150-1100 support area.

Bitcoin cash price is struggling to gain traction above $1500 against the US Dollar. BCH/USD has to stay above $1100 to avoid any further declines.

Bitcoin Cash Price Upside Hurdle

There were a couple of swing moves in bitcoin cash price above the $1400 level against the US Dollar. However, the price failed to gain momentum every time above $1500. It also failed to move above the $1600 once and is currently facing sellers near the 100 simple moving average (4-hours). Recently, the price traded higher from the $1140 low. It moved above the 50% Fib retracement level of the last decline from the $1610 high to $1140 low.

However, the price was rejected from $1480 and the price moved below the $1350 support area. Moreover, the 61.8% Fib retracement level of the last decline from the $1610 high to $1140 low acted as a hurdle. More importantly, there are two major bearish trend lines forming with resistance at $1410 and $1440 on the 4-hours chart of BCH/USD. These trend lines around $1450 and the 100 simple moving average (4-hours) are acting as major upside hurdles for buyers.

Bitcoin Cash Price Weekly Analysis BCH USD

The price is now moving lower once again towards the $1200 level. On the downside, the most important support is around the $1140-1100 zone. The pair has to stay above the mentioned $1100 support in order to avoid more declines in the near term.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is now in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is heading lower towards the 35 level.

Major Support Level – $1100

Major Resistance Level – $1450

 

Charts courtesy – Trading View, Kraken

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SophiaTX TGE – Successful Round One

After 48 hour delay caused by CryptoKittens clogging ethereum network, SophiaTX successfully launched its Token Generation Event yesterday (Dec. 7th). The first round’s milestone (30 Million SPHTX tokens) of SophiaTX TGE has been achieved in just over 24 hours. The TGE will last a total of 5 rounds (approx 10 days) and will distribute 150 … Continue reading SophiaTX TGE – Successful Round One

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After 48 hour delay caused by CryptoKittens clogging ethereum network, SophiaTX successfully launched its Token Generation Event yesterday (Dec. 7th). The first round’s milestone (30 Million SPHTX tokens) of SophiaTX TGE has been achieved in just over 24 hours. The TGE will last a total of 5 rounds (approx 10 days) and will distribute 150 Million tokens to participants by the end.

Currently, this is one of the most successful Token Generation Events in December, despite the volatility in the crypto market right now with Bitcoin hitting another all time high above 18K today (according to coinmarketcap.com charts), but then plummeted nearly 3K in just a matter of hours taking most of the alt coins down with it! In the midst of this rapid value drop-off, SophiaTX has been able to raise more than $7.3 Million in only the first day of their TGE. This gives testament to the projects solid foundation, making it one of the most interesting and promising projects to come out this year.

SophiaTX was created by Equidato Technologies AG, a Swiss joint venture company combining the blockchain expertise of DECENT with the business experience of Venaco Group. They have developed their own proprietary blockchain, based on DECENT’s technology, tailored for integrating enterprise applications, such as SAP, to businesses of all sizes.

“The SophiaTX project is premised on an in-depth analysis of the technological capabilities of existing blockchains, to ensure a strategy and a platform which can add value and provide businesses with not only suitability, but also superior functionality and features.” explains  Jaroslav Kacina, CEO of SophiaTX. “The resulting platform and its focus on adoption in real business, is one of the most innovative advancements of blockchain into the way in which the businesses and their customers interact and how ecosystems are continuously re-defined by digital technology.”

The project has extensive media coverage and is gaining traction in both business and blockchain communities. They are preparing to launch an early adoption program for businesses and technology professionals to explore the capabilities and possibilities of the platform, catered specifically to their companies needs.

If you want to partake in one of the most successful TGE’s of December, you can find all the information, including guides for how to register and participate, on the SophiaTX website.

About SophiaTX:

SophiaTX is a blockchain platform and marketplace for businesses of all sizes, and the first open source platform to primarily integrate blockchain technology with enterprise applications such as SAP, Oracle, and others. 74% of transaction revenue worldwide touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B collaboration and communication.

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Litecoin takes off as Bitcoin corrects

Bitcoin has had a wild ride this week, starting out at $11,000 and surging to over $18,200 seven days later. The market has now started to correct and BTC has fallen back to around $13,500 at the time of writing. The massive rush in demand has highlighted a number of inherent flaws in the system. … Continue reading Litecoin takes off as Bitcoin corrects

The post Litecoin takes off as Bitcoin corrects appeared first on NEWSBTC.

Bitcoin has had a wild ride this week, starting out at $11,000 and surging to over $18,200 seven days later. The market has now started to correct and BTC has fallen back to around $13,500 at the time of writing. The massive rush in demand has highlighted a number of inherent flaws in the system. Major exchanges such as Coinbase were overwhelmed with traffic and transactions which brought the site to a grinding halt once again. At the peak of the trading frenzy there were over 250,000 transactions pending.

Quick to point this out was the Litecoin Foundation who tweeted There are 223K unconfirmed bitcoin transactions right now… use Litecoin!” As Bitcoin fell back from its dizzy heights funds started to pour back into altcoins which have taken a beating this week. The current front runner in the altcoin race is Litecoin which is up around 50% at the time of writing.

Often referred to as sliver to Bitcoin’s gold, Litecoin has been far more stable in previous months trading slowly upwards from $40 to $60 over the past six months. In mid to late November things started to move a bit quicker for Litecoin which jumped up to $80 and beyond reaching stable ground at around $100 where it has stayed for the last fortnight.

On Saturday however it has exploded and jumped a massive 65% to just over $160. The Asian trading session had been dominated by Litecoin which is traded heavily in South Korea. There have been a couple of conflicting stories coming out of South Korea in recent days regarding the government’s stance on crypto currencies and ICOs.

CoinTelegraph reported that there would be a complete ICO ban in South Korea while other sources, including Korean news publication Chosun, reported that the government would soon allow ICOs for institutional investors. According to the report a task force has been formed by the South Korean Ministry of Strategy and Finance, Financial Services Commission, Ministry of Justice, Fair Trade Commission, and Financial Supervisory Commission. Its purpose is to prepare various regulatory frameworks for businesses and investors to operate within the crypto currency industry.

It is clear that while South Korea remains open and accepting of crypto currencies it is striving for more regulation to prevent fraudulent ICOs and scams. “The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments. While there certainly exists a negative reputation attached to the cryptocurrencies, the government’s stance is to allow what has to be allowed, for the benefit of the South Korean market.”

The recognition of cryptos and ICOs is likely to have caused the surge in Litecoin which is a dominant asset on Korean exchanges such as Bithumb. Currently the market has corrected a little and LTC is trading at around $135, still around 33% up on two days ago.

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How to get rich off bitcoin — or lose it all while trying – Chicago Tribune

Chicago TribuneHow to get rich off bitcoin — or lose it all while tryingChicago TribuneThere is no asset value attached to it except what the market gives it. It has no central bank supporting it. What it does have is a faithful following, which has it…


Chicago Tribune

How to get rich off bitcoin — or lose it all while trying
Chicago Tribune
There is no asset value attached to it except what the market gives it. It has no central bank supporting it. What it does have is a faithful following, which has its own value, just as gold has had for thousands of years. Bitcoins have value because a ...

and more »

Bitcoin Price Weekly Analysis – BTC/USD Correction Underway

Key Points Bitcoin price after a nasty upside ride above the $17,000 level found sellers against the US Dollar. There is a key bullish trend line forming with support at $13,000 on the 4-hours chart of BTC/USD (data feed from SimpleFX). The pair is currently correcting lower and it might extend decline towards the $12,000 … Continue reading Bitcoin Price Weekly Analysis – BTC/USD Correction Underway

The post Bitcoin Price Weekly Analysis – BTC/USD Correction Underway appeared first on NEWSBTC.

Key Points

  • Bitcoin price after a nasty upside ride above the $17,000 level found sellers against the US Dollar.
  • There is a key bullish trend line forming with support at $13,000 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
  • The pair is currently correcting lower and it might extend decline towards the $12,000 level in the near term.

Bitcoin price surged above $17,000 against the US Dollar. BTC/USD is currently under a correction mode and it might test the $12,000 level.

Bitcoin Price Supports

It was a super bullish week for bitcoin price as it moved surged above the $15,000 level against the US Dollar. The upside move was such that the price moved above the $17,000 level and formed a high at $17,095. Later, the price faced a strong resistance and started a downside correction from $17,000. It has moved below the 38.2% Fib retracement level of the last wave from the $8968 low to $17,095 high.

At the moment, the price is testing a major support at $13,000. There is a key bullish trend line forming with support at $13,000 on the 4-hours chart of BTC/USD. The trend line support is around the 50% Fib retracement level of the last wave from the $8968 low to $17,095 high. There are chances of more losses in the near term below $13,000. Once there is a break below the trend line support, there can be an extension towards $12,000. The mentioned level is around the 61.8% Fib retracement level of the last wave from the $8968 low to $17,095 high.

Bitcoin Price Weekly Analysis BTC USD

The overall trend is positive above the $12,000 level. Once the current correction is over, the price will most likely resume its uptrend above $15,000.

Looking at the technical indicators:              

4-hours MACD – The MACD is currently reducing its bullish slope.

4-hours RSI (Relative Strength Index) – The RSI is currently below the 50 level and is moving lower.

Major Support Level – $12,000

Major Resistance Level – $15,000

 

Charts courtesy – SimpleFX

The post Bitcoin Price Weekly Analysis – BTC/USD Correction Underway appeared first on NEWSBTC.

Bitcoin Drops to $13k in Red Day for Crypto Markets – CoinDesk


CoinDesk

Bitcoin Drops to $13k in Red Day for Crypto Markets
CoinDesk
Whatever the reason, the price of bitcoin spent much of Saturday in decline, as the world’s largest cryptocurrency saw a nine percent drop over the 24-hour span. Sunday’s session has so far seen that drop intensify, with the price down nearly 12

and more »


CoinDesk

Bitcoin Drops to $13k in Red Day for Crypto Markets
CoinDesk
Whatever the reason, the price of bitcoin spent much of Saturday in decline, as the world's largest cryptocurrency saw a nine percent drop over the 24-hour span. Sunday's session has so far seen that drop intensify, with the price down nearly 12 ...

and more »

Craigslist Enable Sellers to Accept Bitcoin, More Merchants Adopt Cryptocurrencies – Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)Craigslist Enable Sellers to Accept Bitcoin, More Merchants Adopt CryptocurrenciesCointelegraph (Bitcoin, Cryptocurrency and Blockchain News)If successful, they could roll out a full integratio…


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Craigslist Enable Sellers to Accept Bitcoin, More Merchants Adopt Cryptocurrencies
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
If successful, they could roll out a full integration of Bitcoin in the long-term, like Square. Craigslist is the 106th most popular web-based platform according to Alexa, and is significantly larger than other widely recognized web-based platforms ...
Craigslist sellers can now specify if they accept bitcoinEngadget

all 9 news articles »

Bitcoin Drops to $13k in Red Day for Crypto Markets

Days before a major futures product launch, bitcoin suffered heavy losses Saturday, a trend that so far appears to be continuing into Sunday.

Days before a major futures product launch, bitcoin suffered heavy losses Saturday, a trend that so far appears to be continuing into Sunday.

Tom Peterffy Believes Bitcoin Could Wreck Might Go to $100K Before Crashing – Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)Tom Peterffy Believes Bitcoin Could Wreck Might Go to $100K Before CrashingCointelegraph (Bitcoin, Cryptocurrency and Blockchain News)Max Keiser recently expressed his belief that the cryptocur…


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Tom Peterffy Believes Bitcoin Could Wreck Might Go to $100K Before Crashing
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Max Keiser recently expressed his belief that the cryptocurrency would hit $100,000 but would remain stable at those high points due to fundamentals. Others like Tom Lee, founder of Fundstrat, have also expressed a belief that the market would continue ...

Tom Peterffy Believes Bitcoin Could Wreck Might Go to $100K Before Crashing

The great Wall Street Divide over whether Bitcoin is a miracle or a bubble continues to grow, with Interactive Brokerage founder Tom Peterffy expressing his concerns about a bubble.

The great Wall Street Divide over whether Bitcoin is a miracle or a bubble continues to grow, with Interactive Brokerage founder Tom Peterffy expressing his concerns about a bubble.

NYSE Chairman Voices Regret for Not Launching Bitcoin Futures Trading First – Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

NYSE Chairman Voices Regret for Not Launching Bitcoin Futures Trading First
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Such massive volatility is likely caused by uncertainty over how the futures market will react once Bitcoin is added. These markets will enable big money, particularly traditionally conservative financial institutions, to bet on the price of Bitcoin
Bitcoin’s Price Has Soared. What Comes Next?New York Times
Why is bitcoin’s price so high?TechCrunch
More than $70 million stolen in bitcoin hackCNNMoney
Reuters –Business Insider –CoinDesk
all 1,521 news articles »

Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

NYSE Chairman Voices Regret for Not Launching Bitcoin Futures Trading First
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Such massive volatility is likely caused by uncertainty over how the futures market will react once Bitcoin is added. These markets will enable big money, particularly traditionally conservative financial institutions, to bet on the price of Bitcoin ...
Bitcoin's Price Has Soared. What Comes Next?New York Times
Why is bitcoin's price so high?TechCrunch
More than $70 million stolen in bitcoin hackCNNMoney
Reuters -Business Insider -CoinDesk
all 1,521 news articles »

Ethereum Price Weekly Analysis – ETH/USD Uptrend Intact

Key Highlights ETH price rushed towards the $495-500 resistance recently where it faced sellers against the US Dollar. There is a major bullish trend line forming with support near $408 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair might continue to move lower, but it remains supported on the downside near … Continue reading Ethereum Price Weekly Analysis – ETH/USD Uptrend Intact

The post Ethereum Price Weekly Analysis – ETH/USD Uptrend Intact appeared first on NEWSBTC.

Key Highlights

  • ETH price rushed towards the $495-500 resistance recently where it faced sellers against the US Dollar.
  • There is a major bullish trend line forming with support near $408 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
  • The pair might continue to move lower, but it remains supported on the downside near $418 and $408.

Ethereum price is moving nicely against the US Dollar and Bitcoin. ETH/USD is correcting lower, but dips remain supported above $408.

Ethereum Price Support

There were mostly ranging moves this past week in ETH price above the $400 handle against the US Dollar. The price tested the $400 support level on a couple of occasions and consolidated for some time. Once the consolidation is over, the price moved higher sharply and traded above $480. The upside move was strong as the price traded toward $500 before it faced sellers. A high was formed at $497.71 from where a correction wave was initiated.

ETH has already moved below the 50% Fib retracement level of the last wave from the $397.30 low to $497.71 high. It seems like the price might continue to move down towards the $428-428 support area. Moreover, there is also a major bullish trend line forming with support near $408 on the 4-hours chart of ETH/USD. An intermediate support is around the 76.4% Fib retracement level of the last wave from the $397.30 low to $497.71 high at $421.

Ethereum Price Weekly Analysis ETH USD

Therefore, there are many supports on the downside above $408 to act as a barrier for more declines. The current trend is still positive and the recent dip can be seen as a correction from $497. As long as the price is above $400, it could resume its uptrend and move above the $460-465 levels.

4-hours MACD – The MACD is slowly moving from the bullish to bearish zone.

4-hours RSI – The RSI is currently below the 50 level.

Major Support Level – $408

Major Resistance Level – $465

 

Charts courtesy – SimpleFX

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