Ethereum Price Technical Analysis – ETH/USD Sell on Rallies

Key Highlights

  • ETH price extended declines and traded below the $828 support level against the US Dollar.
  • There is a major bearish trend line forming with resistance at $818 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is currently correcting higher, but it is likely to face sellers near the $815 and $818 levels.

Ethereum price is under renewed selling pressure against the US Dollar and Bitcoin. ETH/USD is likely to remain in a bearish zone as it turned sell on rallies.

Ethereum Price Decline

There was no major upside move above $830 in ETH price against the US Dollar. On the contrary, there was an increase in selling pressure and the price moved below a major support at $828. It ignited further losses and the price even moved below the $810 level. At the moment, the price is trading well below the $828 pivot level and the 100 hourly simple moving average.

The recent low formed was $792 before the price started an upside correction. It has moved above the 23.6% Fib retracement level of the last drop from the $839 high to $792 low. However, there are many hurdles on the upside around the $820 level. There is also a major bearish trend line forming with resistance at $818 on the hourly chart of ETH/USD. Moreover, the 50% Fib retracement level of the last drop from the $839 high to $792 low is around the $816 level. Therefore, it seems like the $816-818 levels are important barriers for buyers.

Ethereum Price Technical Analysis ETH USD

The chances of ETH failing to move above the $818 level are high. On the downside, the recent low of $792 is a short term support. Below the mentioned $792, the price may move back towards the $775 level.

Hourly MACD – The MACD is solid in the bearish zone.

Hourly RSI – The RSI is recovering, but it is well below the 50 level.

Major Support Level – $792

Major Resistance Level – $818


Charts courtesy – SimpleFX

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The video game industry has rapidly grown in the past decade. In 2017 revenue figures reached close to $120 Billion, which was a 10% increase from the previous year, and the industry is projected to reach $200 Billion by the year 2020.

777.BINGO, the world’s first pan entertainment platform for decentralized blockchain that uses technology of blockchain and its social features such as user agglutinant, frequent communications and communities, is set to cause the next revolution in the video game- and entertainment industry.

777.BINGO is an application store, just like the IOS or android store, with a crypto currency-based wallet. This enables publishers to publish their games freely as it is connected to the BINGO wallet. BINGO’s core business is in cryptocurrency exchange and content publishing.


BINGO is being developed in partnership with the entire core team at Mob Arts and other third parties that provide their technical expertise. The problem in the current video games environment is that the fairness of the game cannot be guaranteed. Due to various levels of Black Case Work in the online games, the functional gameplay modes cannot be identified by users as fair outcomes.

Users are unable to recognize whether Black Case Work exists or whether multiple human interventions are required as part of the games developing systems. It is therefore realistically impossible to create a game that is “open, transparent and just.” This not only affects the users experience but also leads to a loss of users.

BINGO’s pan entertainment platform combines the advantages of blockchain such as decentralized, distributed and fair games, paired with traditional games. This solves issues such as Black Case Work and unfair competition that users encounter in traditional game setting. This not only strengthens the trust the user has in a game but also increases the willingness of the user to play the game.

777.BINGO brings such an advanced decentralized platform where publishers can publish games for free with minimal restrictions, and players get rewarded for their performance.  The content can be rated by everyone, which impacts the publishers rating within the platform.   Age restricted content will only be accessible after a comprehensive security review.

The platform has a P2P network layer, which defines the P2P contract, a blockchain and data storage layer that operates the blockchain actions, such as consensus and data access, a smart contract layer that executes key platform contracts and records essential platform data.  A Verifiable Random system creates random calculations by distributing random numbers that are then recorded into the memory blockchain via smart contracts that guarantee fair gameplay.  An event processing layer provides smart contracts and copositive sealed SDK for higher level logic systems. The platform application system provides a logical guarantee for application layers by repeatedly calculating and expanding to meet the requirements of players, developers and publishers.

BINGO’s technical partners Mob Arts, who have over seven years of experience in the gaming Industry, are all set to launch Qtum Heroes game in collaboration with QTUM. Patrick Dai, the co-founder of Qtum, said, “I would like to illustrate my confidence in BINGO, and I’m willing to wait and see how blockchain can bring innovative technology to BINGO.”

The launch will be followed by the release of an unique advertising and monetization system based off the Traffic Exchange Technology. The blockchain technology will be used for better data visualization. The asynchronous fairness verifying modules enable special demands from users and publishers to be satisfied.

A blockchain traceable game rating and reviewing system provides parents with reassurance about the games content. In the future, BINGO plans on setting up community functionality and transaction services, while the BINGO foundation will take an active role in investing in the creation of more games making BINGO the ultimate pan entertainment system and closing the loop within the industry chain. BINGO will finally let gamers decide and enjoy the content they find most appealing and allow users and not regulations define the quality of content.

A total of 10 billion 777 (BINGO) tokens will be released. The number will be limited by BINGO smart contract disabling further 777 (BINGO) token generation. Bitcoin, Ethereum and Qtum cryptocurrency can be used to participate in the private placement.  BINGO plans to put up only 25% of their 777(BINGO) tokens for private placement, 25% will be held by the BINGO team and the remaining 50% will be split equally between the BINGO Foundation and Bingo’s internal capital turnovers.

By Abhibroto Roy

Bitcoin Price Key Highlights

  • Bitcoin price seems to be running out of steam on its recent climb as it tests resistance around $11,500.
  • Another drop to the nearby support at $9,500-10,000 could create a double top pattern.
  • If price breaks below the neckline, bitcoin price could fall by the same height as the chart formation.

Bitcoin price could be due for a selloff as it formed a double top pattern on its 1-hour time frame.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This suggests that the uptrend still has a chance of resuming.

Stochastic is also climbing to indicate that buyers have the upper hand and could allow bitcoin price to revisit the highs close to the $12,000 major psychological level. RSI is just pulling up from oversold conditions, also indicating a pickup in buying pressure.

A break below the neckline, on the other hand, could lead to a drop of around $2,000, which is the same height as the double top. A bounce off support could lead to a test of the highs or creation of new ones.

Market Factors

Fears of a trade war seemed to be abating as more U.S. government officials started reassuring the general public. However, the announcement of economic adviser Gary Cohn’s resignation brought these jitters back to financial markets, weighing on higher-yielding assets.

As it is, opposing factors seem to be in play for bitcoin price, which explains the hesitation to follow through on the inverse head and shoulders upside break. On the one hand, shifting risk sentiment has allowed the cryptocurrency to regain some of its safe-haven status, but traders are still understandably on edge.

One factor that could revive the stronger rally might be more updates on launching an ETF or its Index Fund. Of course it is pending regulatory approval, so any signs of being denied could lead to more bitcoin weakness.

Key Points

  • Bitcoin cash price continued to trade down and it moved below the $1,200 support against the US Dollar.
  • There was a break below a major bullish trend line with support at $1,228 on the hourly chart of BCH/USD (data feed from SimpleFX).
  • The pair is currently correcting higher, but it could face sellers on the upside near $1,200-10.

Bitcoin cash price is showing bearish signs below $1,220 against the US Dollar. BCH/USD is likely to remains in a bearish zone as long as below $1,250.

Bitcoin Cash Price Resistance

There was a minor recovery yesterday above $1,240 in bitcoin cash price against the US Dollar. However, the price could not retain the momentum and moved down below $1,220. The downside move was substantial since there was a break below the $1,200 support level. The price is now trading well below the $1,240 pivot and the 100 hourly simple moving average.

During the downside move, there was a break below a major bullish trend line with support at $1,228 on the hourly chart of BCH/USD. The pair even broke the $1,180 support and traded as low as $1,159. At the moment, the pair is correcting higher above $1,180. It moved above the 23.6% Fib retracement level of the last drop from the $1,272 high to $1,159 low. However, there are many resistances on the upside near $1,200 and $1,225. An intermediate resistance is around $1,215 and the 50% Fib retracement level of the last drop from the $1,272 high to $1,159 low.

Bitcoin Cash Price Technical Analysis BCH USD

Therefore, any major upside move could face a strong selling interest near $1,220. On the downside, the $1,160 level is a decent support. A break below $1,160 may push the price towards $1,120.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is placed strongly in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is struggling to recover and is currently below 50.

Major Support Level – $1,160

Major Resistance Level – $1,220


Charts courtesy – SimpleFX

FOMO Moments

Mid-week and markets have turned red once again as Asia leads the selloff. Bitcoin is leading the rout by sliding 4% on the day, and we are returning to the patterns witnessed in the second half of last year when all altcoins simply follow the lead of their big brother. The entire top 25 is in the red with just one cryptocurrency showing green during the morning trading session in Asia, and that is VeChain.

According to Coinmarketcap VEN is trading 3.5% higher on the day when all other altcoins have lost value. From $4.56 this time yesterday the token is up to $4.75 today, not a great deal but significant in that it is the only one higher than yesterday at the moment. VeChain has had a very good month climbing over 28% with a high of $7 on Feb 20. The three month chart looks even better as it has made an impressive 850% gain from $0.50 back in early December.

The cryptocurrency was hit with a wave of FUD a few days ago when rumours spread about large orders of VEN being put out to keep prices low. The resultant dip took prices down to $4.30 before VeChain CEO Sunny Lu stated that the VeChain Foundation did not sell any VENs to the open market and had no intention of doing so. This has caused the price rebound and is why VEN is the only token performing well today.

Binance leads the way with VEN trading at over 60% of the total volume which stands at $118 million over the past 24 hours. Market capacity is $2.2 billion which ranks this altcoin at 16th. There are 873 million in total supply with 475 million of those circulating.

There are no other altcoins in the top 25 climbing this morning in Asia, all have fallen between 3% and 8%. Outside the top 25 Waltonchain deserves a mention as it is up 18% today.

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.

Back in 2015, an Oregon man goaded the Federal Government to come and arrest him over a donation made to Edward Snowden’s Legal Defense Fund. Almost three years later, Kristopher Ives has finally got his wish.

People in Glass Houses…

Ives grabbed the attention of the media back in April 2015. He had taken to Reddit to protest Obama’s legislation targeting those supporting overseas cybercriminals. Edward Snowden, the infamous whistle-blower and general “thorn in the side” of the US authorities, had been accepting Bitcoin as part of his Legal Defense Fund. Ives, an anarchist, Bitcoin proponent, and self-proclaimed computer nerd, felt that this was a direct attack on Snowden’s fund.

To protest this, he sent Snowden 33 cents worth of Bitcoin before demanding that he be arrested for it. His post read:

“It’s not much but it’s the principle of the matter. Please come arrest me. I live in Oregon and my name is Kristopher Ives and you can reach me at 503-383-1047. This isn’t a release of personal information as these are my business credentials publicly listed on my Github page, which I consistently link to projects I work on. I ask moderators don’t remove my information.”

He also listed the proof of his 33 cent transaction taken from a popular Bitcoin blockchain explorer. In addition, Ives Tweeted directly to the then-President Obama to protest what he felt was an unconstitutional act by the premier:

Despite several people following Ives’ lead in donating funds to Snowden and news sources picking up on the story, the Feds did not act on his goading.

However, seemingly emboldened by his flouting of the law, it has later emerged that the very next month after the Reddit incident, he attempted to blackmail an undisclosed victim of a hack attack. The Daily Beast reports that Ives threatened to “impair the confidentiality of information” obtained in the hack, demanding money “and other things of value” for said data to be kept secret.

In addition to the charges of blackmail, Ives’ has also been indicted for seventeen counts of credit card fraud. It’s thought that these were used to commit criminal acts some twelve months after the blackmail and Reddit event. More detailed information about the charges are not yet known and the prosecutor in the case was not available for comment. We do know that Ives’ five-day trial is scheduled for May 1st, however.

Of course, the current indictment has nothing at all to do with his earlier pleas for his own arrest. It does, however, feel somewhat amusing that Ives has finally been indicted. Thankfully, it is for crimes that sought his own personal enrichment, rather than his altruistic act of self-martyrdom for the cause of Snowden, a genuine freedom fighter.


Image: Flickr


The Bank of Lithuania announced today, March 6th, that it plans to issue the world’s first digital collector coin to mark this year’s centenary of the Baltic state’s independence from the Soviet Union. To design and develop the underlying blockchain technology, the Bank of Lithuania will be organizing a “hackathon,” bringing together tech companies and IT professionals from around the world. The R&D event is set to take place in May of this year.

Final decisions on the mintage, denomination, price, the date of issue of the coin, and the mode of distribution will be made after the hackathon comes to a close. According to the central bank, more information on the hackathon will be available in early-April.

“It should be some kind of visualisation on a smartphone or computer, but exact details should be clearer after the hackathon,” central bank spokesman Rimantas Pilibaitis told AFP.

According to Marius Jurgilas of the Board of the Bank of Lithuania, the central bank has been making intensive preparations for the issuance of the digital coin: “Many challenges are upon us, yet we hope that, having overcome any hurdles that may come our way, we will make our plans a reality before the end of the year.”

“This would be the perfect way to mark the centenary of the restoration of Lithuania’s statehood, which we are celebrating this year, as well as show the world that it is a progressive and innovation-fostering country, always open to new ideas. Introducing a digital collector coin, Lithuania would be the first to break new ground in numismatics,” Jurgilas added.

Whatever eventual form the country’s collector coin takes, the Bank of Lithuania says it will be intended for collection and will not be issued with a view to be circulated. That said, the digital collector coins may be exchanged with the Bank of Lithuania at nominal value. This is in contrast to similar moves made by countries like Venezuela, who unveiled their cryptocurrency the “Petro” earlier this year. The Petro’s value is pegged to the price of a barrel of oil.


The issuance of the digital collector coin is yet another step towards implementing one of the Bank of Lithuania’s strategic directions in the field of innovation and financial technology. At the start of the year the central bank announced its intention to create a blockchain platform called LBChain.

LBChain aims to help Lithuanian and international companies garner knowledge on cryptocurrencies and carry out blockchain research, with plans to adapt and test blockchain-based services in the country’s financial sector.

The project is expected to be launched in 2019, accelerating the development of FinTech businesses and reinforcing the country’s eagerness to become a northern European hub for financial technology firms and blockchain-based start-ups.