• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Another Hack Coincides with Ethereum (ETH) Price Drop, Back to $100?

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in
Reading Time: 2min read
technical analysis ethereum
Advertisement
  • Ethereum prices bearish and likely to sink below $135
  • Hackers wreak havoc at Dragon EX, steal user funds
  • Transaction volumes low but could surge as bears retest key support levels

Another exchange, Dragon EX, has been breached and user fund stolen demonstrating why it is imperative for assets to be stored at cold wallets away from exchanges. Meanwhile, Ethereum (ETH) is bearish and dropping towards $135.

Ethereum Price Analysis

Fundamentals

Unfortunately, Dragon EX, an established Singaporean cryptocurrency exchange, is the latest hack victim after an undisclosed amount of ETH was stolen on Sunday, according to a recent announcement from the exchange’s Telegram channel. The breach was first noted on Mar 24 forcing the exchange to pull down their services under the guise of system maintenance:

“Dragon Ex is still working on system maintenance due to data exception during which all trading and deposit and withdrawal will be temporally delayed to open until March 25th 18:00.”

However, it took them an extra day before finally admitting of the reputation damaging breach. The team is working with authorities in four countries including Thailand and Hong Kong and has managed to recover some of the stolen funds:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“We’re assisting policemen to do investigation. All platform services will be closed, and the accurate assets loss recovery situation will be announced in a week. For the loss caused to our users, Dragon Ex will take responsibility no matter what.”

Candlestick Arrangement

Ethereum

At the time of press, Ethereum (ETH) is down 3.5 percent from last week’s close and likely to break below $135, invalidating our trade plan. Although there is limited support for bulls, our bullish overview will hold as long as prices are trending above $130 or Mar 5 lows.

If not and prices melt-down in a trend continuation phase confirming losses of Feb 24, the projection of our previous ETH/USD trade plan will hold. In that case, bears may drive prices below $100 towards Dec 2018 lows of $70.

Losses will be magnified if the current BB squeeze is a bear breakout resulting in ETH bear bars banding along the lower BB, away from the middle BB signaling bears and mid-Nov 2018 resumption of sellers.

On the reverse side, if ETH bulls find support anywhere between $130-35 with decent volumes, prices may snap back to bullish catalyzing participation that may drive prices back to $150 and even Dec 2018 highs of $170.

Technical Indicators

Like Bitcoin, ETH prices are sliding lower. Regardless, bears have successfully reversed gains of Mar 15-16 albeit with low volumes averaging 180k or above. For trend continuation, a bull bar with high volumes above 180k must print in line with gains of Mar 15-16. If not and a bear bar prints driving prices below $135, ETH may end up sliding to $100 or worse $70.

Chart courtesy of Trading View

Tags: Dragon ExETHethereum
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Binance Coin Price

Charted: Binance Coin (BNB) Gains Momentum, Why Dips Are Attractive

1 hour ago
Upside Potential in NFTs is Massive Says Gary Vaynerchuk

Upside Potential in NFTs is Massive Says Gary Vaynerchuk

2 hours ago
Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

3 hours ago
Ethereum

TA: Why Ethereum Close above $1,600 Could Stage A Strong Rally

3 hours ago
Bitcoin

TA: Bitcoin Revisits $50K, Why BTC Could Still Struggle Near $51K

5 hours ago
bitcoin miner btc bullish

Bullish Bitcoin Miners Cease Selling For The First Time Since 2020

7 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Easyfi Network introduces Staked Derivative Assets Money Markets on Layer 2 DeFi

March 1, 2021

Seascape Network Officially Debuts on Binance Smart Chain

March 1, 2021

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.