Ethereum (ETH) Price Analysis – January 30

  • The ETH price is in a bullish momentum in the short and medium-term trend.
  •  The crypto 's $100 price level is holding, traders should look out for buy setups to initiate long trades. 

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bearish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $100, $90, $80   

The  ETHUSD pair was trading in the sideways trend as the crypto fell to the $100 price level. On January 28, the crypto fell to the low of $107.49 to commence a range bound movement. The appearance of small body candlesticks like the Doji and spinning tops describe the indecision of buyers and sellers at the $100 price level. It is not clear how long the price will range at the $100 price level.

From the price action, the ETH price is still below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. This indicates that ETH price is in a bullish momentum and a buy signal. On the Upside, if the $100 price level is holding traders should look out for buy setups to initiate long trades. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETHUSD Short-term Trend: Bullish  

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View                

On the 4-hour chart, the price of Ethereum is in the bearish trend zone. On January 28, the crypto's price fell to the low of $105.71 and the ETH price was fluctuating above the $100 price level. A bullish candlestick is breaking the 12-day EMA. If the bulls break above the EMAs and the price is sustained above it, the crypto will reach the high of $120 but will face resistance at $ 160 price level.

Meanwhile, the stochastic indicator is out of the oversold region but above the 40% range which indicates that the ETH price is in a  bullish momentum and a buy signal.                                   

 

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

VeChain Foundation’s 'Buyback' Wallet Gets ‘Compromised’, Hacker Steals 1.1 Billion VET Tokens

Siamak Masnavi

At 17:00 UTC on Friday (December 13), the VeChain Foundation announced that their "buyback address was compromised." 

This was the tweet they sent out to announce this terrible news:

So, what is the buyback address that the VeChain Foundation is referring to?

Well, back on 30 June 2019, the VeChain Foundation announced a $25 million buyback plan:

In today's announcement, the foundation says that 1.1 billion VET tokens (worth roughly $6.5 million at current VET prices) were taken from the hot wallet they were using for the buyback plan, and that these VET tokens were transferred by the hacker to 0xD802A148f38aBa4759879c33E8d04deb00cFB92b:

They go on to say that "all the addresses associated with the said hacker’s address have been tagged on VeChainStats, the list is automatically updated as soon as the hacker sends any funds from the original hacker’s address."

VeChain Foundation "has been tracing the transfer of these VET Tokens in real-time," and here is what they have done so far to manage this situation:

  • "We have notified all exchanges to monitor, blacklist and freeze any funds coming from the hacker address and any withdraws from the corresponding exchanging wallets."
  • "We have launched an investigation into every fact around the address to determine the motive, method, and data flow behind this malicious act."
  • "We have enlisted the assistance of Hacken along with its whitehat community, and vechainstats.com teams to help with monitoring and containment of the situation."
  • "We have also started a security check immediately on the other crypto assets under the custodian of the Foundation, to make sure no further breach will occur."
  • "We have reported this incident to law enforcement in Singapore."

According to data from CryptoCompare, VET is currently trading at $0.005824, down 4.93% in the past 24-hour period:

VET-USD 24-Hour - 13 Dec 2019.png

We will update this article as more details become available...

Featured Image Credit: Photo via Pixabay.com