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Ethereum Price Falls by 13% to $2,393 – Where to Buy the ETH Dip

The ethereum price is weakening sharply today. The past few weeks have been bad for the broader crypto market and the selling has started again […]

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The ethereum price is weakening sharply today. The past few weeks have been bad for the broader crypto market and the selling has started again in earnest. While the greatest slump has been felt by bitcoin, altcoins have also not been spared. Ethereum has been losing, and it is barely recovering from the May meltdown.

Last week, ethereum managed to scale some key levels as it reached around $2,500. The largest altcoin in terms of market cap touched $2,800 yesterday, but bears have interrupted the upward price movement, causing another market dilemma. ETH has lost $400 in the past 24 hours to trade, at around $2400. As of writing, ETH’s value was slightly above $2400.

Ethereum Price: bears in charge

Ethereum’s near-term support is at $2,400, and if the coin can maintain above that level it may prevent the decline from deepening further. The Moving Average Convergence Divergence (MACD) metric shows that the coin could be headed into a bearish market.

ethereum price

The chart above also shows that the Relative Strength Index (RSI) may be dropping towards the negative area. However, this is not all bad news because there is still a high chance that the bulls may pick up again, especially after new investors start buying the coin because of the lower prices.

However, a move above the 100 SMA is required for ethereum to show signs of recovery. Further analysis also states that the largest altcoin will only show its full bullish intent when it pushes to above $3,000.

Ethereum has been classified as a better and superior token compared to bitcoin, a factor that may be causing rising prices. Goldman Sachs, one of the leading banks on Wall Street, published a report after the May market crash. The report stated that ethereum had a high chance of overtaking bitcoin as a store of value, and this revelation boosted ethereum’s value towards the end of April.

Ethereum has great fundamentals says Goldman Sachs

According to Goldman Sachs, the Ethereum network had many real-world applications because it offers support to smart contracts, which has created a great space for the proliferation of DeFi applications. Besides, the Ethereum network is also a hub for developing non-fungible tokens (NFTs) that are gaining popularity. These projects increase ether transactions, and it is reducing the volatility of the coin.

Ethereum’s value, just like the value of the broader crypto market, has been affected following the crypto regulations in the market. However, 27-year old founder of Ethereum, Vitalik Buterin, recently interviewed at a Fridman podcast where he said that “I don’t think governments have the ability to ban crypto to the extent of just completely preventing blockchains from existing. But they definitely have the ability to really marginalize it.”

Ethereum’s price is not just slated to be a short-term thing. Towards the end of this year, the Ethereum network plans to launch a layer two upgrade to make the platform even more attractive to DeFi developers. When this happens, the demand for ether will skyrocket, and it may even reach above the $4000 ATH.

Where to buy Ethereum

The dominance of the Ethereum network in DeFi development shows that the token is a great buy because its demand is not as volatile as the other cryptocurrencies. The anticipated layer two upgrades is also expected to push for the token’s value. One can buy ether in the current dip at:

eToro

One of the most recommended exchanges where you can buy ether tokens is eToro. The exchange is popular for crypto trading, and it even has features that allow new traders to learn how to go about the market. Through copy-trading, inexperienced traders can gain insights from crypto experts on the exchange.

Once you sign up on eToro, go to the order section and place an order for the number of ether tokens you want to purchase. You can also sell the token on the exchange.

Looking to buy or trade Ethereum (ETH) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

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Source: https://insidebitcoins.com/news/ethereum-price-falls-by-13-to-2393-where-to-buy-the-eth-dip

Blockchain

QNT Technical Analysis: Price Below the Fibonacci Pivot Point of $72.67

QNT price has tested and fallen below the 23.6% FIB retracement level of $72.18. The price may soon fall below the 23.6% FIB extension level of $69.82 as well. Thus, as of now, the bearish forces are strong. Therefore, we can expect the price downtrend to continue today as well as tomorrow.

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The Quant Network is the first blockchain network to develop the Overledger DLT gateway – an enterprise-grade DLT (Distributed Ledger Technology) gateway. This gateway ensures enterprises achieve interoperability across multiple blockchains systems and DLTs. It also aids in cross-chain interconnectivity. It is a speedy, straightforward, and secure ecosystem. QNT is the native token of this network. Technical Analysis of QNT is as follows.

Past Performance

On Jun 12, 2021, QNT opened at $51.71. On Jun 18, 2021, QNT closed at $71.01. Thus, in the past week, the QNT price has increased by roughly 37%. In the last 24 hours, QNT has traded between $71 – $76.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/qnt-technical-analysis-price-below-the-fibonacci-pivot-point-of-72-67.png

https://zephyrnet.com/wp-content/uploads/2021/06/qnt-technical-analysis-price-below-the-fibonacci-pivot-point-of-72-67.png

Day-Ahead and Tomorrow

Currently, QNT is trading at $75. The price has increased from the day’s opening price of $71.01. Thus, the market seems bullish.

READ  Will Ethereum undergo a 27% surge or a 16% drop?

The MACD line has turned negative while the signal line is still positive.  In other words, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum has turned bearish.  Hence, we can expect the price to start falling.

Currently, the RSI indicator is at 25% – deep into the ‘oversold’ region. It faced rejection at 60% and fell to the current level. Hence, selling pressures are very high. Heavy offloading of crypto will push its price further down. It is a good time for traders to go long.

Besides, the OBV indicator has also fallen steeply. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the QNT price. In short, all three indicators have shown bearish signals.

READ  Miller Value Funds to Invest in Bitcoin via Grayscale Bitcoin Trust

QNT Technical Analysis

Currently, the price is below the Fibonacci pivot point of $72.67. It may soon fall below the first Fibonacci pivot support level of $70.76. If the bears remain strong till day end, then the price may fall below the subsequent support levels of $69.58 and $67.67, respectively.

The price has tested and fallen below the 23.6% FIB retracement level of $72.18. The price may soon fall below the 23.6% FIB extension level of $69.82 as well. Thus, as of now, the bearish forces are strong. Therefore, we can expect the price downtrend to continue today as well as tomorrow.

#QNT #The Quant Network

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Source: https://www.cryptoknowmics.com/news/qnt-technical-analysis-price-below-the-fibonacci-pivot-point-of-72-67

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Blockchain

Coinbase Co-Founder Talks DeFi, NFTs, and Crypto Regulation

Fred Ehrsam, the co-founder of Coinbase cryptocurrency exchange talked about state of cryptocurrencies and the era of NFT in his latest interview.

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Fred Ehrsam, the co-founder of Coinbase cryptocurrency exchange talked about the state of cryptocurrencies and the era of NFT in his latest interview with Bloomberg TV.

NFTs Will Have No Value in Three to Five Years

In an interview on Bloomberg TV on June 17th, Coinbase co-founder Fred Ehrsam drew parallels between the rise of cryptocurrencies and the dotcom boom of the 1990s in relation to the state of NFTs in three to five years:

“I go so far as to say that 90% of NFTs produced, they probably will have little to no value in three to five years. You could say the same thing about early internet companies in the late ’90s.”

READ  S&P 500 SPY IWM QQ XLF XLV XBI VIX Oil NatGas Technical Analysis Chart 6/13/2019 by ChartGuys.com

According to him, it’s inevitable that people will “try a bunch of stuff” and that most of it won’t work in the beginning:

“People are going to try all sorts of things. There’ll be millions and millions of cryptocurrencies and crypto-assets, just like there were millions and millions of websites. Most of them won’t work,”

“The technology itself is really important and really valuable over the long run, and there will be a few things that end up being fundamental building blocks that really do matter,” he adds.

At the same time, Ehrsam says said that people shouldn’t be so quick to dismiss meme-based cryptocurrency Dogecoin, saying:

“If crypto has taught us anything, it’s never to dismiss a good meme that could later manifest into more concrete progress.”

READ  New York Stock Exchange to Launch “First Trade” NFTs

In the same interview, the Coinbase co-founder calls DeFi as the “bleeding edge” of the blockchain world.

Ehrsam founded Coinbase with Brian Armstrong in 2012

Furthermore, the Coinbase co-founder believes China could beat the United States in terms of crypto adoption adding that the U.S. and other countries can still close the gap with China, following their recent clampdown on cryptocurrency trading and mining.

He also stated that cryptocurrency is the next big thing and has the potential to create as many more jobs as the internet has done.

Ehrsam founded Coinbase with Brian Armstrong in 2012 and left the company in 2017 to found his own crypto investment firm Paradigm.

#Coinbase #Fred Ehrsam

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Source: https://www.cryptoknowmics.com/news/coinbase-co-founder-talks-defi-nfts-and-crypto-regulation

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Blockchain

Dogecoin Price On Discount, Will The Bulls Jump In To Make Profit?

dogeslash

The post Dogecoin Price On Discount, Will The Bulls Jump In To Make Profit? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The Bitcoin price nowadays is undergoing a phase of extreme uncertainty as the surge appears to be a fake breakout. And hence it has badly impacted the other crypto assets as well, which may include Dogecoin price too. DOGE price which maintains a stagnant trend in the past couple of months had showcased a slight …

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The Bitcoin price nowadays is undergoing a phase of extreme uncertainty as the surge appears to be a fake breakout. And hence it has badly impacted the other crypto assets as well, which may include Dogecoin price too. DOGE price which maintains a stagnant trend in the past couple of months had showcased a slight uptrend, yet failed again.

The recent price movement suggests the continued downtrend as the dogecoin bulls did not showcase their power after the false breakout. And hence the price is struggling to surge above $0.3 levels. The depleting volume also points out towards the lessened activity on the platform as many may have snubbed DOGE after recently speculated manipulation.

Also Read: Hoskinson Disses Dogecoin! Questions its Relevance

dogechart

Now, considering the present scenario, two possible price movements can be overseen. One, the bulls remain passive and allow the price to tank to the lower levels. In such case, the price may fail to rebound above $0.3. And the revisit the next support levels around $0.22 to $0.21. And after this plunge, the price may take quite a long time to regain the lost positions above $0.3. However, reaching towards ATH levels may appear a milestone which may not occur in near future. 

On the other hand, if the bulls get accelerated, which is mandatory at the press time, the price may successfully clear $0.3 support levels. And later move upwards to attain the next target around $0.38 to $0.4. However, the ATH or $1 target still remains off the beaten track.

Collectively, the dogecoin price appears to trade within a decisive phase as the bulls need to get aggregated. Else a major slump for the DOGE price is on the way which may take a long time to retrace.

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Source: https://coinpedia.org/price-analysis/dogecoin-price-on-discount-will-bulls-invest/

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Blockchain

KLAY Technical Analysis: Will Remain Low Between $1.01 and $0.99

KLAY price has tested and fallen below the 38.2% FIB retracement level of $1.06. The price may soon fall below the 61.8% and 76.4% FIB retracement levels of $1 and $0.99 respectively, as well. If by day end, the price retests and breaks out of these levels, then probably a price uptrend has set in. In that case, the price upswing may continue tomorrow as well.

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Klaytn is a user-friendly, enterprise-level, and service-oriented public blockchain network. It is a decentralized ecosystem based on DLT (Distributed Ledger Technology) with high scalability and low latency. The Klaytn community includes many renowned brands spread across the world. KLAY is the governance token of this network. Below is the technical analysis for KLAY.

Past Performance

On Jun 12, 2021, KLAY opened at $1.01. On Jun 18, 2021, KLAY closed at $1.10. Thus, in the past week, the KLAY price has increased by roughly 9%. In the last 24 hours, KLAY has traded between $0.97 – $1.055.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/klay-technical-analysis-will-remain-low-between-1-01-and-0-99.png

https://zephyrnet.com/wp-content/uploads/2021/06/klay-technical-analysis-will-remain-low-between-1-01-and-0-99.png

Day-Ahead and Tomorrow

Currently, KLAY is trading at $1.02. The price has decreased slightly from the day’s opening price of $1.10. Thus, the market seems bearish.

READ  Trading Bitcoin – Looks Like FOMO is Here $10k Left in Dust

The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price rise amidst an overall declining trend.

Currently, the RSI indicator is at 43%. It faced rejection at 54% and fell to the current level. Hence, selling pressures are high. Heavy offloading of crypto will push its price further down.

Besides, the OBV indicator has gradually started falling. Thus, selling volumes are slowly overtaking buying volumes. High selling activity will exert downward pressure on the KLAY price.

In a nutshell, when we look at all three oscillators together, the downtrend seems strong. However, we can expect temporary price increases as corrective action amidst a bearish trend.

READ  Telegram Withdraws Appeal Over TON Blockchain Project

KLAY Technical Analysis

Currently, the price is below the first Fibonacci pivot point of $1.04. It may soon fall below the first Fibonacci pivot support level of $1.01. If the bears remain strong till day close, then we can expect the price to fall below the subsequent support levels of $0.99 and $0.96, respectively.

The price has tested and fallen below the 38.2% FIB retracement level of $1.06. The price may soon fall below the 61.8% and 76.4% FIB retracement levels of $1 and $0.99, respectively, as well. If by day end, the price retests and breaks out of these levels, then probably a price uptrend has set in. In that case, the price upswing may continue tomorrow as well.

#KLAY #Klaytn

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Source: https://www.cryptoknowmics.com/news/klay-technical-analysis-will-remain-low-between-1-01-and-0-99

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