• 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
    • What is Bitcoin?
    • 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
  • Play GamesTry
  • BUY BITCOINTry
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
    • What is Bitcoin?
    • 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
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Ethereum (ETH) Price Analysis: Ethereum Futures a Bad Idea Advises Fundstrat Global Head of Research

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 2min read
Ethereum
Advertisement
Nexo Logo
Listen to Article

Prospects of ETH Futures might weight negatively on price but it won’t matter. The CFTC would after all have the final say and should they bin it then capital might end up on CME’s BTC futures. Nevertheless, Crypto Facilities of the UK are already offering similar services. All in all, ETH remains stable and accumulating/distributing (depends on how you view it) but should there be a blast in either direction, we might see prices recovering positively to $400 or to the dungeons at $150.

From the News

Perhaps it because of the bad memories associated with Bitcoin Futures. By all measures, this was a product which was touted to “revolutionize” if not propel Bitcoin prices towards $100,000–further pushing prices to mega valuation in a then super charged rally that saw prices of Bitcoin rise from $1,000 to $20,000 within months.

Though it had the backing of traditional exchanges as the Chicago Mercantile Exchange (CME) and the CBoE, it flopped terribly because for one, the markets were now accessible to speculators keen on turning a profit. Secondly, those who were not confident on the rally—and who could see through the smokescreen of Tether induced pump—could hold shorts and longs at the same time.

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

Seeing this play out last year, Tom Lee the head of Research at Fundstrat Global Advisors say the introduction of Ethereum Futures would trigger an inevitable price collapse this time round in an already deep bear trend.  Though sources conversant are confident that the product will launch as early as end of Q4 2018, the CFTC is yet to give the confirming nod. Once they do, these CME Ethereum Contract futures would depend on the Gemini’s underlying market relieving the pressure off BTC.  As highlighted in our last Bitcoin analysis, BTC is grappling with short positions and sellers hungry to see it drop to $3,000 or worse.

Ethereum (ETH) Technical Analysis

Weekly Chart

Ethereum (ETH) Technical Analysis
Ethereum Weekly Chart by Trading View

In the midst of strong ETH sellers, bulls are nevertheless closing higher. At current prices, ETH is up four percent but still trending within week ending Aug 19 high low with week ending Aug 12 candlestick obviously overshadowing any bullish attempts.

Because of technical candlestick formations, we shall hold a negative stance on ETH and unlike BTC, there might be an undervaluation in ETH considering their positive correlation and the general effect of BTC as a leading market.

However, while most expect higher highs all thanks to last week tight ranged bull candlestick, traders should trend with caution initiating longs only when prices breach above $330 or week ending Aug 19 highs. Before then, holding a neutral position might turn out to be prudent.

Daily Chart

Ethereum (ETH) Technical Analysis
Ethereum Daily Chart by Trading View

Of all coins, ETH might after all be the most undervalued digital asset in the top 10. Fact is, the rate of expansion is lower than those with deeper liquidity and traditionally slow as LTC for example. Nonetheless, the recovery in BTC might provide the necessary impetus for the $330 to be broken. If not and as emphasized above, taking a neutral stand with eyes on $150 could sync well with the general market trend.

Disclaimer: This is not investment advice and views represent that of the author. Do your own research before making an investment decision.

Tags: Ethereum (ETH) Technical AnalysisEthereum futuresEthereum Technical Charts
TweetShare
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

Ethereum

Ethereum is On the Brink of Setting Fresh All-Time Highs as Bulls Take Control

3 hours ago
router

Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

11 hours ago

Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop

20 hours ago
bitcoin altcoins caution

Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

24 hours ago
XRP Likely to Plunge towards $0.20 as SEC Woes Rattle Investors

Bitcoin’s Bear Case Suggests Move to $28,000 is a Possibility in the Near-Term

1 day ago
bitcoin bubble crypto google search altcoin

Could Mt Gox Be The End Of Yet Another Epic Bitcoin Rally?

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

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
CryptoSlots

CryptoSlots

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

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 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
    • What is Bitcoin?
    • 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 +
  • Play Games
  • BUY BITCOIN

© 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.