Ethereum price unable to break past $185: Analyst predict break-out

The queen of cryptocurrency Ethereum price is suffering like all the cryptocurrencies as the king Bitcoin (BTC) stand indecisive on the price charts.

The queen of cryptocurrency Ethereum price is suffering like all the cryptocurrencies as the king Bitcoin (BTC) stand indecisive on the price charts.

It appears that the head and shoulder pattern played out and despite trying hard, Ethereum (ETH) price has been unable to break past the one hundred and eighty-five dollars ($185) mark in the past twenty-four hours (24hrs).

Ethereum price unable to break past $185: Analyst predict break-out 1Ethereum price chart by Trading View

On the one hand, ETH price has hit the one hundred and eighty-four dollars ($184) mark thrice in the past five (5) days; however, it failed to sustain the position.

While, on the other, the ETH price has been trading below the one hundred and eighty dollars ($180) mark for the better part of the week. Whereas, Ethereum price saw the lowest point on the 11th of September at one hundred and seventy-five ($175) dollars as predicted by Cryptopolitan.com.

When would Ethereum price break-out?

Ethereum price analyst on Trading View Faibik believes that the queen of cryptocurrency is “silent before a storm.”

Faibik predicts that the price action reveals an upward movement in the days to come, and Ethereum price can hit the two hundred and seventy dollars ($270) mark.

Ethereum price unable to break past $185: Analyst predict break-out 2Ethereum price chart by Trading View

Faibik analysis finds the support levels at one hundred and fifty-one ($151) and the lowest support level at the one hundred and forty-six dollars ($146) marks.

The analysis furthers that following the dip ETH price would take a heavy charge towards the three hundred and mark and is very likely to get past two hundred and seventy-five dollars ($275) mark.

Faibik suggested that the followers must wait until the one hundred and forty dollars to one hundred and fifty dollars ($140 – $150) range to start buying Ethereum. Possible potential for profit when selling after the surge stands at a whopping eighty-eight percent (88%).

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How to master your cryptocurrency wallet: Pro tips to handling thousands of tokens with ease

You’ll never buy a Lambo if you lose all your cryptocurrency to some sneaky hacker, which is why in 2019 it is more important than ever to ensure the …

You’ll never buy a Lambo if you lose all your cryptocurrency to some sneaky hacker, which is why in 2019 it is more important than ever to ensure the wallet you choose is top of the line. The ways that we store crypto have changed drastically throughout the past decade, but for every new security measure there is also some new, and wrong, way to store it as well (if you are storing any significant amount on an exchange, please, for the love of the HODL gods, stop).

Storing on paper used to be the most secure method, but times have changed and we can now have that same security without the extreme inconvenience of paper management. There are thousands of cryptocurrencies out there, and finding a wallet that can accommodate all of them in a secure, user-friendly way should be every crypto user’s goal. We’ll set you on the right path with this article, but as always, be sure to do your own research before trusting anyone on the Internet.

Comparing the competition

We’ll be covering five different wallets in this article, none of which are the most convenient and dangerous option of storing on an exchange (seriously, if you’re storing on an exchange you’re asking for trouble). These wallets will all be compared on five components: seed phrase options, history of hacks, user reviews, diverse cryptocurrency support, and how they handle fees.

Our wallets today include MyEtherWallet (because it’s a household name), Exodus (a well-known alternative wallet), Jaxx (since it has over 1 million users), Freewallet (a prime example of why you shouldn’t trust someone on the Internet without doing your research), and Coin Wallet (which has over 20 million user-generated wallets). Without further ado, let’s get down to the nitty gritty.

1. Seeds

The seed phrase, which is a list of words storing all the information needed to recover a wallet, traces its roots to the early days of Bitcoin. Although it’s absurdly secure from online hacks, it’s extremely vulnerable to human stupidity. House fires, in-person theft, and simply losing the piece of paper with your seed on it can make it null. When used correctly, it offers a way to recover a cryptocurrency wallet after computer/wallet failure, since the seed you generated can be put back into another copy of the wallet to access your funds. Of our five chosen wallets, all have the option to use Seed Phrases – if they didn’t they wouldn’t be on this list. But not all seeds are made equal. Coin Wallet and Exodus, for instance, encrypt their wallets with a high level of security and allow users to set a PIN number as well, while a wallet like Freewallet does neither of these things, because it’s a custodial service and you don’t have access to your private keys.

2. Hacks

These come in all shapes and forms. MyEtherWallet’s chosen DNS servers were compromised in 2018 when thieves managed to resolve users to a phishing site, thus intercepting data between users and MyEtherWallet. Exodus has a bad history with malware and script hacks, and various user accounts claim they’ve lost funds when using this wallet. Jaxx reportedly lost around $400K in 2017 after hackers were able to connect to users’ computers and extract private keys easily from Jaxx’s software. Freewallet randomly moved almost 8 million in user funds to a cold storage account, which spurred a lot of whistleblowing about exit scams; the funds were still available to users, but after Mt. Gox’s incident years ago, do we really want to trust a company and their “cold storage” options? Coin Wallet, which has been operating for over four years, has never been hacked. It uses AES-256 encryption in conjunction with BIP 39 passphrase encryption, which has been enough to prevent any hacks as of yet.

3. Reviews

It is easiest to use a third-party website here, so we’ll defer to cryptocompare.com for reviews.

Source: cryptocompare.com/wallets

Only two of these wallets have perfect scores, but users should be aware that Freewallet is a custodial service. This can lead to problems when participating in ICOs since the private keys aren’t yours, especially when dealing with a smart contract that returns coins or tokens to the sending address. Being able to export your private keys is extremely important. This is something offered by Coin Wallet, Jaxx, Exodus, and MyEtherWallet, but NOT by Freewallet.

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4. Token Support

Being able to have all your crypto in one place is super handy, especially if you’re participating in dozens of ICOs and investing in more than the top 10 currencies. Here is a breakdown of the currencies each wallet supports:

Coin Wallet

BTC, LTC, BCH, XRP, ETH, and all ERC20 and ERC223 tokens (20,000+)

Jaxx

BTC, ETH, DASH, ETC, BCH, REP, LTC, ZEC, RSK, DGE, ICN, GNT, GNO, DGD, BCAP, CVC, STX, POE, MCI, QTUM, CFI, ART, PAY, and 55+ more

MyEtherWallet

ETH (obviously), ERC20, ETC, Testnet ETH, UBQ, EXP, POA, TOMO, ELLA, ETSC, EGEM, CLO, GO, EOSC, AKA, ESN, PIRL, ETHO, ATH, ILT, WEB, and MUSICOIN

Freewallet

BTC, BCH, ARDR, BCN, BNT, BTG, DASH, DCT, DOGE, EOS, ETH, FCN, GNO, GUP, IGNIS, LSK, LTC, NEO, NXT, PTOY, TRX, USDT, VEN, XDN, XEM, XMO, XMR, ZEC, XYO

Exodus

BTC, BCH, ETH, LTC, XRP, and 99 more

Coin Wallet’s support of all ERC20 and ERC223 tokens is crucial and opens up the ICO world to you, while Exodus’s extensive list of more popular currencies will ensure you have your standard basis covered. It really depends on what you are looking for, and if ERC20 and ERC223 tokens are something you see yourself needing to store then an option like Coin Wallet would be a great choice for you, especially since they cover such a wide range of currencies to make both ICO investors and Bitcoin maximalists happy. On the flip side, if you don’t need ERC20 then picking a wallet with extensive standard options may be a better choice.

5. Custom Transaction Fee

A lot of crypto wallets handle network fees as a blanket charge, as in, they tell you what you’re going to pay and you have to pay it if you want to transfer through them. These fees go to network miners, but users should have some say in the process depending on the type of transaction they’re sending. Most of these wallets have standard fee options, but Coin Wallet lets you choose between three different types: default, fastest, and minimum. Default will push your transaction through in 30-60 minutes, fastest will put you on the next block, and minimum can take upwards of 90 minutes.

Finding a fantastic wallet for PRO users

Picking the best wallet is circumstantial, but if you’re searching for a wallet that best fulfills the criteria set out at the start of this article then you will probably want to go with Coin Wallet, since it hits every category and then some. Their motto is all about putting the security in your hands, which is, of course, a double-edged sword. On one hand, you have complete control and anonymity when it comes to your cryptocurrencies (which is ideal for pro users), but that comes with the tradeoff of being completely responsible for your crypto. If you lose your passphrase and private key without backing it up, you’re out of luck – no one at Coin Wallet will be able to help you.

Source: steemit.com/@hilarski

As always, be sure to do your own research before trusting any company (or this article) with your crypto. It doesn’t have to be a scary world if you make an effort to do your homework, and if you take anything away from this article take away the fact that you should never store your crypto on an exchange. Seriously, don’t.

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What is Best Way to Conduct an ICO? Ethereum Founder Vitalik Buterin Weighs In

In a Twitter feud that started a whole week ago about the various issues with the Ethereum infrastructure, the debate quickly devolved to discussing …

In a Twitter feud that started a whole week ago about the various issues with the Ethereum infrastructure, the debate quickly devolved to discussing poor wealth distribution within cryptocurrency communities and how ICO’s or Initial Coin Offerings contribute to that.

Whenever a cryptocurrency is introduced, it hosts an ICO for funding and development purposes where it sells tokens of its cryptocurrency to investors to get the currency up-and-running. The mechanism of this ICO may vary and many ICO’s have been subject to their fair share of controversy due to scams and securities law violations.

The debate which has emerged on Twitter is whether Ethereum’s ICO paved the way for the skewed and unequal distribution of ETH tokens among the community. Andrew, or @cyber_hokie, argued that when Ethereum was being launched, the 11 million Ethereum tokens were distributed with “transparency and understanding amongst founders and initial developers”, while 60 million of those tokens were purchased by presale participants using their fiat money, accruing risk but investing in a technology they believed in. This mechanism was pitted against traditional blockchain mining, such as seen in Bitcoin, where initial coins are mined “for a year with no competition [thus] accruing 5% of the total supply forever“.

Vitalik Buterin, the co-founder and Chief Scientist at Ethereum retweeted this argument, therefore showing that he, on some level, agreed with the argument that a publicised and open token sale is fairer than issuing mining rights.

On the other hand, popular Twitter user and cryptocurrency expert, Matt Odell, argued that 71 million of the total 107 million total ETH were premined and then sold to the public. The Bitcoin system, he argues, is a permissionless distribution system, where every Bitcoin holder has worked for their Bitcoin by mining or using their fiat money to hold Bitcoin. This is more fair, in Odell’s opinion, as it is a “voluntary and permissionless” system.

This can be argued the other way, arguing that in the Ethereum launch, people who purchased ETH tokens used their fiat money to buy Ether. These tokens were not “premined”, according to Buterin, who states:

The genesis block was literally generated by scanning the bitcoin blockchain for transactions that represented purchases of ETH. There was even a python and JS script to do it, and that was initially how people would get the genesis

About Post Author

Tulika Jain

Bibliophile, crazy cat lady and passionate about financial and economic journalism. I don’t trade in cryptocurrency but am fascinated by the market.

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Ethereum Blockchain Network Crosses More Than 200000 ERC20 Tokens Benchmark

These tokens are issued based on a smart contract. These contracts do not have to be ‘smart’ or super practical, therefore, it is a slightly unfortunate …

Regardless of what you think of Ethereum (and altcoins in general), it is a fact that this network has had and had a great impact on the entire industry. While bitcoin is considered primarily as a means of payment, during the huge increases in 2017, the ether was the driving force and the means of payment in many cases.

The Ethereum network was really forced to assume that role: the tokens in the network shot up like mushrooms. Suddenly, everyone wanted to issue the so-called ERC-20 token. Since the launch of the network, more than 200,000 Tokens have been issued on the Ethereum network according to EtherScan.

ERC-20 is a technical standard for implementing tokens in the Ethereum chain. Almost all the coins or tokens issued on this platform belong to this category. The most important example is the ether. That is the fuel of the Ethereum network and it is also an ERC-20 token. With ether, it pays to make transactions, but also to execute smart contracts, for example.

These tokens are issued based on a smart contract. These contracts do not have to be ‘smart’ or super practical, therefore, it is a slightly unfortunate name. However, these smart contracts ensure that the network and tokens must comply with certain rules. Therefore, you can program your tokens in a certain way and give it certain properties.

In 2017, the initial coin supply trend began. Everything and everyone had to have their own record. Often that was only possible with ETH. Which resulted in prices well above $ 1,000 per ether. Current hodlers can only dream of that. Millions could be collected. And if you could make a good marketing talk, you could charge wonderfully. Because investors were ready to push their ETH earned so hard to another new company.

Billions in investments in projects, most of which have never added anything to the crypto space. On the other hand, there are some outliers. If you look at the top 100, most remain an ERC-20 token. The largest token, after ETH, is currently Binance Coin (BNB). But that currency will eventually move to its own chain. But also other currencies that are popular this year, such as Chainlink (LINK) and Basic Attention Token (BAT) have been issued on the Ethereum network.

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Walter Schulze

Walter Schulze brings all the breaking news stories in the tech and startup world and to ensure that Startup Fortune offers a timely reporting on the trends happen in the industry. He now works on a part time basis for Startup Fortune specializing in covering tech and startup news and he also sheds light on investment opportunities and trends.

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Ethereum Dumps Over 40 Percent But Uptrend Remains Intact

The sentiment around Ethereum has shifted from ultra bullish to bearish in less than a month. On June 26, investors were extremely bullish as the No.

The sentiment around Ethereum has shifted from ultra bullish to bearish in less than a month.

On June 26, investors were extremely bullish as the No. 2 cryptocurrency as its price rose from a 2018-bottom of $83 to the 2019-high of $363.30. That’s a massive gain of over 337 percent in six months. Since then, Ethereum has been plunging and media outlets have been overwhelmingly bearish on this altcoin.

Bearish SentimentBearish Sentiment
Close to nine out of ten news articles have been bearish on Ethereum | Source: Coinwatch

Nevertheless, a 40 percent-plus nosedive from the yearly high as the crypto token is trading close to $200 can be healthy for the long-term outlook of the market. We looked at the charts and two things are clear. First, an Ethereum bounce could be on the horizon. Second, the long-term uptrend of the coin remains intact due to robust fundamentals.

Ethereum Bulls Look Ready to Strike Back Hard

Ethereum looks like it may have more downside potential. However, a close examination of the daily chart shows that bears are overextended and bulls are exploiting the situation.

First, we see the cryptocurrency barely touch our range support of $188. On July 16, the market dropped to $191 and buyers quickly responded by buying the dip. Bears even attempted to drive the price back down on July 17 but bulls pushed back hard and sent the cryptocurrency to as high as $219.47 on the same day.

Ethereum daily chartEthereum daily chart
Ethereum daily chart showing multiple bullish signs | Source: TradingView

We attribute the recent bounce to oversold conditions on the daily RSI. We are seeing selling relief as market participants appear to lose interest in dumping the coin at current levels. With supply drying up, buyers appear to front-run each other once again. The slight volume surges over the last few days validate this assumption.

Market participants are doing this because they can see that Ethereum is being buoyed

by three supports around $188. The first one is the horizontal support or our range support. The second is the diagonal support which tells us that the uptrend remains intact. Lastly, we have the 200-day moving average acting as an additional cushion.

With these three key supports being respected, it is possible that the cryptocurrency will resume its uptrend and bounce to our range midpoint of $244 at the very least. Above that, the next target is $300.

We have trader Scrembo Paul providing an in-depth analysis on Ethereum that matches our target price:

Ethereum Fundamentals Remain Strong Despite the Correction

If you’re still doubtful of the cryptocurrency’s ability to reassert its bullish steam, then perhaps you should consider its strengthening fundamentals.

Ethereum leads all cryptocurrencies in terms of the number of active developers per month by a huge margin. An Electric Capital report reveals that the No. 2 cryptocurrency has 216 active developers per month. That figure is more than four times the number of active Bitcoin core developers per month.

ETH Active DevsETH Active Devs
Ethereum has the highest number of active devs amongst all cryptocurrencies | Source: TrustNodes

With more active developers, Ethereum is in a great position to lead all cryptocurrencies in innovation and rate of development.

In terms of demand, Ethereum is also flexing its muscles.

Etherscan reveals that the number of transactions per day is on the up and up. The crypto token is hovering close to 1 million transactions per day, which is a steep rise from the below 500,000 daily transactions number at the start of the year.

Demand for EthereumDemand for Ethereum
Demand for Ethereum is rising as the number of daily transactions soars this year | Source: Etherscan

Bottom Line

Ethereum may have dumped but it looks like the worst is over. As this round of correction concludes, it’s possible the cryptocurrency will resume its uptrend due to technical analysis and strengthening fundamentals.

Disclaimer: This article is intended for informational purposes only and should not be taken as investment advice.

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