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.

Coinbase Wallet to Make It Easier to Earn Interest via DeFi Platforms

Michael LaVere
  • Coinbase Wallet has added support for users to lend and earn interest on crypto via DeFi applications.
  • The new update allows users to access the features through one dashboard. 

Coinbase has announced support for decentralized finance (DeFi) applications through its proprietary wallet platform. 

According to the official blog post published Mar. 25, Coinbase has added support for clients to lend out and earn interest on their crypto via DeFi apps using the Coinbase Wallet dashboard. 

Users were previously able to deposit crypto on popular DeFi apps like Compound and dYdX through the wallet’s built-in decentralized application browser. The new update will allow users access to their DeFi accounts through direct integration with the Coinbase Wallet. 

According to the announcement, the update allows users to compare different rates from providers, deposit crypto and view balances through a single dashboard. Clients can also lend out their crypto and earn interest directly through the Coinbase Wallet app. 

DeFi borrowing relies upon smart contracts generated on ethereum’s blockchain in order to secure the funds for the duration of the loan. Users can lend out ethereum and ethereum-based tokens, including USDC, DAI and BAT, with interest rates varying between 0.03 percent and 4.17 percent depending upon the coin. 

Coinbase says the new features will be available for iOS users this week, with Android to follow in the coming weeks. 

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