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Ethereum Market Report: Slightly Bullish

December 30 2018 17:51 UTC   Ethereum has gained 1.91% or 2.54 USDT in twenty-four hours. In this Weekend Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.   Price Action The price of $ETH has risen over twenty-four hours. The last price at press time […]

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December 30 2018 17:51 UTC

 

Ethereum has gained 1.91% or 2.54 USDT in twenty-four hours. In this Weekend Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.

 

Price Action

The price of $ETH has risen over twenty-four hours. The last price at press time is 135.68 USDT. In Binance moderate to heavy volume trading the daily change is 1.91%, or 2.54 USDT:
$ETH Price Change
period % USDT
24 hours 1.91 2.54
7 days 5.15 6.65
1 month 19.32 21.97

News

Trend

trend is UP

The Ethereum three day trend is up. After a nine day Christmas Rally which started on December 15 2018 $BTC nosed downwards – and ether slid with it on December 24 2018. Ether dipped again on the 26th but the three days since has shown upwards price movement.

[Trend is "up" when the three day price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is strongly bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

eth-usdt-binance-four-hour-candles-2018-12-30

 

Remarks

The latest $ETH leg shows some promise of upwards lift.

Ether showed strong upwards moves during five 4 hour sessions late on the evening of the 27th. A later spike pushed a session high to $145.42 at noon on the 29th for a four hour session scope of $13.42. The high did not hold and the candlestick pattern shows bulls testing $ETH resistance as ether climbs higher.

The up trend scenario of today and ether (report generation) last price of $135.68 contrasts starkly against this month’s – and this year’s – December 15 2018 low of $81.79.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bullish. The last thirteen 4 hour sessions have all been bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day 134.28
25 day 130.05
99 day 118.54

The short term EMA(7) is above both the medium EMA(25) and long term EMA(99). The four hour chart shows the EMA(7) gently sloping up. This is a bullish state.

The one hour chart shows EMA(7) leveling out with a slightly nosing down angle. This one hour look is neutral to very slightly bearish.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the four hour chart is 59.2. This is a neutral state.

There’s room to move either way.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is -0.19%. This may exert a neutral influence on Ethereum today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Ethereum $ETH Price Outlook

slightly bullish

  • the Ethereum $ETH price outlook is slightly bullish
  • if the price finds acceptance at higher levels the major resistance prints at 137
  • if the price finds acceptance at lower levels the major support prints at 113
Resistance levels: 137 145

Support levels: 113 127 131

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

 

Analysis Duration: four hours

This report is for a short term duration of four hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at December 30 2018 17:51 UTC.]

 

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Ethereum $ETH
Time Period: 5 Hours
Summary: strong buy
Moving Averages: buy
Technical Indicators: strong buy

 

Disclosure

The author does not hold Ethereum $ETH at the time of writing.

About @KittyBitcoin

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Source: http://allcoinsnews.com/2018/12/30/ethereum-market-report-slightly-bullish/

Blockchain

Crypto Market Cap Gained $10 Billion, Bitcoin Eyes $11,000? (Saturday’s Market Watch)

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The cryptocurrency market continues to rebound and has added another $10 billion to its market cap since yesterday. Bitcoin trades around $10,700, while some leading altcoins mark serious gains.

Bitcoin Price Trades Around $10,700

Following yesterday’s increase in which Bitcoin topped at $10,800, the primary cryptocurrency retraced to its intraday bottom at about $10,550. However, the bulls intercepted the price dip and drove the asset upwards once again. Just as 2020 goes so far, this Bitcoin spike followed the 1-2% gains seen on Wall Street at the Friday trading session.

The S&P 500 (1.6%), the Dow Jones Industrial Average (1.34%), and the Nasdaq Composite (2.26%) were all deep in the green.

At the time of this writing, BTC has dipped to $10,760 after getting rejected at the first major resistance at $10,790.

As per the analysis, if BTC price breaks above, it could head towards the next resistance at $11,000, followed by $11,200, $11,360, and $11,530. Alternatively, should the asset fall, it could rely on the support levels at $10,580, $10,440, and $10,390, if necessary.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Despite stocks and cryptocurrencies, gold had failed to increase: Recording an intraday high of $1,875, the precious metal dived and closed the session at $1,860.

Altcoins Gain Traction

Some alternative coins lost significant chunks of value lately, but they have been recovering in the past few days. Ethereum has continued its upward movement with another 3% increase to above $350.

Ripple has surged by 5% to $0.243. Bitcoin Cash (1%), Polkadot (3%), Binance Coin (1%), and Litecoin (3%) are also in the green from the top 10. However, Chainlink has outperformed them all by marking an 11% increase. LINK has overtaken BNB and DOT and currently occupies the 6th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

As it typically happens, the most volatile price moves come from mid and low-cap alts.

CyberVein leads with a 21% surge. Ren (20.5%), Yearn.Finance (17%), The Midas Touch Gold (14%), DFI.Money (14%), Cardano (11%), Zilliqa (11%), HedgeTrade (10.5%), and Nervos Network (10%) follow.

In total, the cryptocurrency market cap has increased by $10 billion since yesterday. On a 48-hour scale, the metric is up by 8% since its bottom at $319 billion to $344 billion.

Total Market Cap. Source; CoinMarketCap
Total Market Cap. Source; CoinMarketCap
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-market-cap-gained-10-billion-bitcoin-eyes-11000-saturdays-market-watch/

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Bitcoin Always Online In Venezuela: Launched The First Satellite Node In Collaboration With Blockstream

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Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido.

The initiative allows interacting with the Bitcoin blockchain without the need of an internet connection. A satellite antenna installed in Venezuela is in charge of the communication between the node and the blockchain.

How the Satellite Node Works

This novel solution allows the Venezuelan node to process information in real-time completely off-line. Thus, the normal functioning of the network in case of connectivity failure (something widespread in the country) is guaranteed. It also facilitates the use of cryptocurrencies in remote places where internet service is scarce, expensive, or even non-existent.

The project works as follows: Blockstream contracts a number of satellites to provide the communication service between the nodes and the blockchain. Cryptobuyer bought the necessary equipment to receive the signal and connect to the satellite, and Anibal Garrido and his team were in charge of assembling the antennas and making the required adjustments.

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For Alvaro Perez, a software programmer from Valencia City who helped set up the whole infrastructure, the node’s synchronization was an inspiring moment. In statements compiled by Cryptobuyer on an official blog post, the expert says that the operation was a “great achievement.”

“We downloaded the whole Bitcoin blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on September 23, from the city of Valencia (…) We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.”

The journey is just beginning for Bitcoiners in Venezuela

This would be the first of three antennas that Cryptobuyer plans to deploy to cover the country’s most critical areas. The remaining two will be placed in the country’s capital, Caracas, in the north of Venezuela, and Puerto Ordaz, an industrial city located south of the country.

Later on, they plan to deploy a large number of small devices that will serve as a sort of repeater antenna to create a sizeable mesh-type network that will facilitate transactions in Bitcoin even far away from the primary antenna.

Now there’s no excuse to start using some satoshis in the country. Venezuela keeps proving that it has plenty of reasons to be on the podium of the three countries with the most adoption of Bitcoin around the world.

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Source: https://cryptopotato.com/bitcoin-always-online-in-venezuela-launched-the-first-satellite-node-in-collaboration-with-blockstream/

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KuCoin’s CEO: The $150 Million Hack Is “Small” For KuCoin, Insurance Will Cover

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In a dedicated live stream, KuCoin’s CEO noted that although why he cannot reveal how much of the company’s total assets were affected during the hack, the stolen fund amount is “small for KuCoin.” The exchange will cover all the losses with its insurance fund.

  • The company first noticed the abnormalities at 2:51 AM, Sept 26, when it received an alert from its internal risk-monitoring system. More alerts followed, indicating abnormal transfers from the hot wallet.
    kucoin_ceo_lyu-min
    KuCoin’s CEO Johnny Lyu. Source: YouTube
  • At 3:01 AM, the exchange received an alert about its remaining balance from the monitoring system. Three minutes later, more alerts came in showing abnormal XRP withdrawal, which was followed by another alert that the company’s hot wallet is “running out of balance.”
  • Subsequent alerts between 3:05 AM and 3:40 AM showed abnormal BTC withdrawal alongside other tokens.
  • While the abnormal withdrawals were ongoing, the company set up an urgent task force and then shut down its wallet servers. However, the shut down did not do much to stop the hackers as the abnormal transfers continued.
  • At this point, KuCoin realized that the private keys of its hot wallet had leaked. The company then started moving the remaining balance in its hot wallet to cold storage at 4:20 AM. The process took about 30 minutes to complete.
  • Lyu said the exchange would publish the addresses used by the hackers on its official channels. An earlier report on the hack shows that the Ethereum address supposedly used for the operation contained over $150 million in ETH and ERC-20 tokens.
  • KuCoin is now in contact and working with the international police, its largest clients, and industry experts for an in-depth investigation into the incident.
  • The CEO also said they had asked most crypto exchanges, including Binance, Bitfinex, OKEx, BitMEX, and Houbi Global, to blacklist the hackers’ wallet address and assist with the investigation.
  • The crypto community was quick to swing into action to assist KuCoin in its request. Bitfinex CTO Paolo Ardoino said they have already frozen 13 million USDT on EOS that was part of the hack, while Tether froze the 20m USDT on Ethereum in the ETH address used for the hack.
  • While trading services are still available, withdrawals and deposits will remain closed until the exchange completes its wallet upgrade.
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Source: https://cryptopotato.com/kucoins-ceo-the-150-million-hack-is-small-for-kucoin-insurance-will-cover/

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