• 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
  • 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
    • 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 Price Analysis: ETH Reservation Demand Is Low Further Fueling Sell Pressure

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 3min read
Crypto
Advertisement
Listen to Article

This time last week, it was all about doom and gloom for Ethereum after a high-volume candlestick drove prices below $200 for the first time this year. Needless to say, ETH prices have since recovered. Though we need to see movements above $300, it’s safe to say that aggressive traders can ramp on longs on every dip in lower time frame with the only deterrence being Sep 5 bear candlestick. This bar continues to overshadow and would likely damp buyers’ efforts in days to come.

Latest Ethereum News

Trading at around $205, ETH is a valuable and a sought-after digital asset. Unlike traditional assets, ETH exists in the inter-web and hot wallets are therefore honey pots for hackers. According to Sagasec, a Cyber security firm that was contracted by MyEtherWallet to oversee the security of the Ether storage platform, the wallets is definitely in the hackers’ cross hairs. Their statistics indicates that they wade off as much as 40 attacks per week according to reports.

Attack vectors vary from fake MyEtherWallet websites to dubious social media advertisements or re-direction from emails targeting gullible ETH coin owners. Regardless, Sagasec has been largely successful. So far, there haven’t been any cases of account holders complaining of lost funds through malicious hacks. This pales in comparison with those of exchanges. Crypto exchanges have so far managed to print more than $550 million in losses.

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

While MEW is doing a wonderful job, the value of ETH—different from price is a subject of contention. It appears as if Jeremy Rubin did trigger an important topic in the blockchain realm. With his economic abstraction argument and projection that ETH might spiral down to zero, argument is now moving to the reservation demand of ETH. In economics, the reservation demand is how long the owner of currency is willing to hold before exchanging it for goods or service. Economists argue that the recent sell off is sparked mainly by ICO fund managers liquidating their DA fueling the selling frenzy. This means at the moment the reservation demand of ETH is low as ICO project managers aren’t willing to risk stalling their project as ETH prices tank.

Ethereum Price Predictions

Weekly Ethereum Price Charts

Ethereum Price Analysis
Weekly Ethereum Price Chart by Trading View

On a weekly basis, ETH is on a recovery path. From the level of market participation in the last week, chances are we might see confirmations. Cementing this assertion is the marked increase in trade volumes. That’s besides the long lower wick of last week signaling entry of buyers.

Though sellers have an upper hand and trading within that break out pattern of week ending Aug 12, our Ethereum price prediction depends on the speed at which ETH bulls would drive prices towards $300—our immediate highs in days to come.

After all, prices are trading within that high-volume bear candlestick and technically that means sellers are in charge.

Daily Ethereum Price Charts

Ethereum Price Analysis
Daily Ethereum Price Chart by Trading View

Following the confirmation of that morning star pattern mid last week, ETH bulls aren’t slowing down.

So far prices are up seven percent on a weekly basis but discouragingly down six percent in the last day. All in all, our previous Ethereum price analysis holds true.

While risk off traders can begin loading longs at current prices with targets at $250, conservative or risk on Ethereum bulls should wait for conclusive breaks and close above $300 before buying on dips.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tags: Ethereum Price analysisEthereum price ChartsEthereum Price PredictionsLatest Ethereum News
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

Ethereum

TA: Ethereum Lacks Momentum Above $1,350, Why ETH Could Correct To $1,180

2 hours ago
Bitcoin

TA: Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task

3 hours ago
uniswap defi crypto dex

The Age of Uniswap: DEX Volume Grows 1100x Year-Over-Year

6 hours ago
defi bitcoin crypto wheel of fortune

Millions Learn About DeFi From Wheel Of Fortune Contestant

11 hours ago
Bitcoin

Here’s the Key Level Bitcoin Needs to Reclaim for Bulls to Take Control

11 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Trouble for Bitcoin as 3 On-Chain Indicators Point to Potential Sell-Offs

18 hours 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

Coinbase Custody to Support Dvision Network (DVI)

January 26, 2021

A New Year – New Opportunities in Crypto

January 26, 2021

1xBit Introduces New Live Casino Tournament DEAL OR NO DEAL

January 26, 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 +
  • 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.