Ethereum Long-term Price Analysis

  • Ethereum was moving in a range-bound at a close distance to the 13-day SMA’s trend-line
  • The bears, breaking below the April 6 bearish Japanese candlestick, can drive the price towards the accumulation territory of $300.00 or a bit below.

ETHUSD Long-term Trend – Bearish

                                     

Distribution territories: $800.00, $900.00, $1,000.00.

Accumulation territories: $300.00, $200.00, $100.00.

ETHUSD, after going through a tough price over a whole week, still saw another notable price decline last week. Between June 17 and 21, the cryptocurrency was moving in a range-bound at a close distance to the 13-day SMA’s trend-line. Soon after the pair managed to touch the 13-day SMA’s trend-line, a short bearish Japanese candlestick emerged on June 22.Ethereum, ETHUSD, Cryptocompare chartSource: CryptoCompare

The bears have once again gained market advantage over the bulls’ dullish momentum. The market’s price has been fairly averaging towards the accumulation territory of $400.00.

The trend lines of both SMAs are bent southwards as the 50-day SMA is on top of the 13-day SMA. The Stochastic Oscillators have touched range 20 but are now found between the ranges of 50 and 20, now slightly pointing southward.

The bulls’ current inactivity can still come into play over the next few weeks. The bears, breaking below the April 6 bearish Japanese candlestick, can drive the price towards the accumulation territory of $300.00 or a bit below. Traders can wait for a strong price action to enter a trade along its direction by applying proper money management rules.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Decentralized Exchange Kyber Network Adds Fiat-to-Crypto Support

Michael LaVere
  • Kyber Network DEX announces support for ETH purchases using fiat.
  • Clients can use the exchange's website or iOS and Android mobile applications. 

Decentralized cryptocurrency exchange (DEX) Kyber Network has announced support for a new fiat-to-crypto gateway that will allow users to directly purchase Ethereum's ether. 

Fiat to Ether DEX Support

According to the announcement, Kyber Network has become the first DEX to support the direct purchasing of ether using fiat. The release claims that clients can use either debit or credit cards in the purchase of ETH, in addition to instituting a low minimum purchase of 15 EUR per transaction. 

Support for the new feature comes after KyberSwap’s recent partnership with Coindirect.com, a third-party service backed by MakerDAO which allows for the purchase of crypto via fiat. Kyber Network says they were prompted to implement crypto for fiat purchases as a way for new users to have easier access to ether,

“Everyone needs to first buy Ether (ETH) from somewhere, whether to trade or to use DeFi (decentralized finance) applications...Generally the first step is the hardest, but it’s even harder when it comes to buying cryptocurrency.”

The new gateway will be available through the DEX’s official website in addition to the iOS and Android mobile applications.

 

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