Crypto News Ethereum

Ethereum (ETH) Price Is Likely To Stop Bouncing Now, Analyst

In a tweet two days ago, Bluntz predicted that ETH is only a 10% drop away from stabilizing. The Crypto trader is famous for accurately predicting Bitcoin’s 2018 bear market. More popular as the “smart contracter,” the strategist explained that he had been closely tracking ETH price charts since August.  “Ethereum is in the final stages of its current bearish run and will swing upward soon,” he assured his 211,000 followers. Once the token corrects its course, investors can then get ready to take up long-term positions, the tweet explained. Related Reading: XRP Sluggish In Last 7 Days As Ripple Vs. SEC Case Drags On Smart Contracter’s Predictions Have Held Thus Far  Smart Contracter presented a chart based on the Elliot Wave theory as evidence of his predictions. As one of the prominent theorists of this market analysis method, Bluntz has successfully made some predictions in the past. Apart from his much-lauded 2018 Bitcoin forecast, the strategist’s recent predictions on Ethereum seem to be holding so far. Smart contracter predicted September’s $1800 rise last month using the Wave crowd psychology method.  At the time of his prognosis, the second largest crypto was trading a $1600 low. The analyst predicted that ETH would rise temporarily in a B wave before bottoming out in anticipation of another rally. He forecasts that ETH will dip to $1,200 before climbing back to $2,000. Other Predictions By Smart Contracter We’re in the final innings of this $eth correction, correcting the rise from July. Have been mapping this out step by step since August top, only 10% or so more down to go before we begin to look for long-term buys, Bluntz said. Furthermore, the Analyst’s chart indicates that Ethereum is going through another drop that will eventually transition into a Bull run. $1,300 will mark the buy signal point if the chart’s structure looks appropriate, says the pseudonymous strategist.  Notably, Ethereum is not the only crypto Smart Contracter is tracking. Last week, he expressed bearish sentiments on Bitcoin, claiming its price charts looked ugly at the time. Another famous analyst ‘Dave the Wave’ had predicted that the king Coin was gearing up for a bull run according to his MACD chart. However, Bluntz insisted that Bitcoin was still expecting several more dips. He announced that he would not buy any bitcoin unless it dropped below $17,000. Several Factors Contribute to The Crypto Market’s Current Volatility Although Smart Contracter’s predictions have remained unrefuted so far, there is still time before his predictions get proven or discounted. Several factors, including inflation, the CPI release, and Ethereum Merge, continue contributing to crypto’s volatility. Hence crypto traders and investors will do well to be circumspect in their investment decisions. Related Reading: Bitcoin Loses $20,000 Grip, Extends Consolidation For 2nd Straight Day At the time of writing, Ethereum is trading around $1,470, up over 2.50% in the last 24 hours, according to TradingView data. Featured image from Pixabay and chart from TradingView.com

Bitcoin Crypto News

Bitcoin Sets Itself Across Zero Line, Analyst

Dave the Wave, the analyst who accurately foretold the collapse of Bitcoin in 2021, is back with another market forecast. The prominent crypto trader shared some charts on a Twitter Thread this Monday. Dave claims that the world’s foremost cryptocurrency is about to flip bullish, judging from previous cycles.  The pseudonymous crypto analyst took to Twitter to share MACD charts that prove his predictions with over 100,000 followers. According to the Tweet, Bitcoin has hit its bottom and is ready to start its journey upward once again. Dave is basing his predictions on the past years’ trends depicted on the chart (2012, 2015, and 2019). Related Reading: Bitcoin Hash Rate Skyrockets Amid 55% Hike In 2 Months BTC is About To Swing Into An Upward Movement According to MACD Chart MACD is a market movement tracker that shows how two in-motion averages relate to one another. It operates based on trends and allows traders to calculate the points at which market momentum is likely to reverse. Based on Dave’s wave, Bitcoin’s MACD has swung below the zero line and is over-sold in a similar movement to 2019. Hence “there is a good chance that we will also see the first contracting Histogram on the Bitcoin monthly chart.” Judging by previous trends, the king of crypto is about to go on a bull run. Another Crypto Analyst Disagrees With Dave Interestingly, not everyone shares Dave the Wave’s bullish sentiments as regards Bitcoin. Another popular crypto analyst, Bluntz, shared his own chart describing it as ugly. He affirms that he does not desire to purchase Bitcoin anytime soon unless it drops below $17000.  Bluntz, the smart contractor on Twitter, is the analyst who successfully forecasted Bitcoin’s bearish low in 2018. If his chart is anything to go by, BTC still has a few more lows to weather before any relief arrives. This is according to a thread the crypto analyst shared on Twitter in mid-August. Bitcoin’s Current Price Movements At the time of writing, Bitcoin is trading below $21,000, down about over 8% within the last 24 hours. Although BTC price has again lost its gains of above $22K, it has gained a 10% upward swing from the foremost cryptocurrency’s $19,000 position of the previous week. However, these movements are still far from Bitcoin’s all-time high of 61,000, a 65% difference. Related Reading: FTX (FTT) Token Flashes Buy Ahead Of A Rally, Will $35 Be Reclaimed Dave the Wave believes now is the time to buy, not sell BTC, while the Smart Contractor wants to wait. Each of them has a record of making a correct prediction concerning the crypto market. It remains to be seen who is right this time as their predictions seem to clash. Featured image from Pixabay and chart from TradingView.com

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API3 to deliver first-party oracles to the Metis L2 rollup ecosystem

API3, a first-party oracle solution that makes real-world data accessible by smart contracts, has announced its latest partnership and integration with Metis, a layer-2 protocol for decentralized apps. Now, API3 will be making the API3 Alliance’sWeb3 API Catalog, the largest selection of data providers in Web 3.0, available for dApp devs to use on Metis. […]

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Texas Congressman Pushes For Bitcoin Mining To Make US ‘Energy Independent’

US Congressman Pete Sessions believes bitcoin is consistent with American ideals and will help boost the US dollar. Rep. Sessions also pointed out that cryptocurrency “is going toward becoming a more resilient alternative choice” for hedging against fiat-currency inflation. Bitcoin mining is increasing in popularity in Texas. This is largely because of the fact that prominent politicians […]