Ethereum (ETH) Price Analysis – February 13

  • If the bears break below the EMAs, the ETH price will resume its downward trend.
  • The crypto’s price is likely to rise but may face resistance at the $130 and $160 price levels.

Ethereum, ETHUSDEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bearish

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

The price of Ethereum is now in a bullish trend zone. From the daily chart, and on February 8, it will be the first time, the bulls will be breaking the 12-day EMA and the 26-day EMA. In retrospect, the ETH price was earlier in a bearish trend since January 10. In the other words, the bulls were unable to break the EMAs for 30 days.

Today, the bulls have not only broken the EMAs but the crypto’s price is ranging above the EMAs. On the upside, the crypto’s price is likely to rise but may face resistance at the $130 and $160 price levels. On the downside, if the bears break below the EMAs, the ETH price will resume its downward trend.

Meanwhile, the stochastic band is in the overbought region but above the 80% range which indicates that price is in a strong bullish momentum and a buy signal.

ETHUSD Short-term Trend: Ranging

Ethereum, ETHUSDEthereum Chart By Trading View

On the 4-hour chart, the price of Ethereum is in a bullish trend. On February 8, the ETH price reached a high of $122.11 and the price was resisted. The crypto's price retraced to the support of the 12-day EMA. In the last five days, the crypto’s price had been ranging above the 12-day EMA with small body candlesticks.

These Doji and Spinning tops candlesticks are describing the indecision of buyers and sellers above the $120 price level. A price breakout or a price breakdown is imminent as  the crypto’s price ranges. The stochastic is out of the overbought region but below the 60% range which indicates that the price is in a bearish momentum and sells signal.

 

The stochastic is out of the overbought region but below the 60% range which indicates that price is in a bearish momentum and sells signal.

Vitalik Buterin Explains Why He Cares About Price of Ethereum (ETH)

Siamak Masnavi

On March 20th, in New York City, Vitalik Buterin, the creator of Ethereum, talked to crypto-focused journalist Laura Shin at a live taping of her Unchained podcast (at the Columbia Graduate School of Journalism’s Pulitzer Hall), and answered questions on a wide range of topics. Here are some key highlights from this interview.

What Vitalik Thinks About Zcash (ZEC)'s 'Dev Tax'

"Zcash is interesting... Definitely, like big props to them for just doing that and being proud of that and saying like 'you know, we got a 20% dev tax, what's up man?'. I am very proud of them for doing that. So, a great job, Zucco! But on the other hand, they clearly haven't solved the problem of where to allocate the money because, right now, they just have this centralized allocation pool that goes to Zcash company, or these individuals, or these other individuals, and they have hard forks, and these hard forks can decide to reallocate the pool, but then what process do they use to decide, and so it's definitely very far from the ideals that a lot of people see cryptocurrencies as having... It's still an improvement from no funding... It would be really nice if there was some decentralized process for achieving the same thing."

Why the Price of Ether (ETH) Is Important

"I'm going to be really candid because that's the right thing... Some of the earlier rhetoric, especially veering on the more extreme side of the price not mattering at all, in part was counter signaling to distinguish ourselves from other crypto projects that just do pumping and lambo-ing way too much, but another thing is that it was about minimizing legal risk by basically trying to make the project seem more distant from something that will be covered by financial regulation... 

If people try to claim the price doesn't matter at all, they [the financial regulators] are totally going to see through that...

I can tell you... why the price being higher than lower... is good.

One of them is, obviously, security. So if the price is zero, the network can't be secure, and that's true in Proof-of-Work or Proof-of-Stake. 

Another reason is, obviously, that there's a lot of projects who in the ecosystem hold cryptocurrency... and if the price is higher, then they'll have more money to do the things they want to do...

Especially, the security concern is a totally legitimate technical argument.

There are members of the Ethereum community who just say that 'Ether is a cryptocurrency and we want it to be more of a cryptocurrency'...

The Ethereum Foundation doesn't have a monopoly on Ethereum messaging, or even a hegemony on Ethereum messaging at this point...

The thing I am absolutely opposed to is engineering pumps for the sake of pumps because that's just a short term that's fundamentally dishonest. The thing I am definitely in favor of is not doing stupid that would lead to the price going to zero. So, one example of that would be having an issuance of like 100 million ether every year. Regardless of what other consequences that has, that would clearly drop the price to zero, and that would clearly be just terrible."

Decentralized Finance (DeFi) and Smart Contract Code Risk

"I'm definitely watching the whole DeFi space with interest and fascination... 

[On Twitter] Someone was trying to say something like 'Why doesn't pretty much everyone just take their money out of their bank accounts and put it into Dai earning interesting on Compound because that pays better rates, why would you just not get a free 3%?'. And I am like 'Excuse me, free? Are you really that confident that that contract has less than a 3% chance a year of having a bug in it?'. I mean, I honestly don't know how to measure the chances of those contracts having bugs in them, but there's definitely far too many people that round those risks to zero."

If Vitalik Had a Time Machine, What Advice He Would Give Satoshi

"github.com/ethereum/eth2.0-specs"... 

When Laura asked Vitalik if he was really serious about telling Satoshi to build Ethereum 2.0, he answered: "I do think it's a good architecture!" 

He then went on to elaborate:

"First of all, Satoshi had a really hard job because he just could not have predicted which way the ecosystem would have gone... I think on a technical level, suggesting a path that opens the door to upgradeability, to proof-of-stake, to more powerful virtual machines..."

What Vitalik Thinks Will Be the First Mainstream Use Case for Cryptocurrency

"Things I am near term optimistic about include first of all, the decentralized finance space... second of all, gaming [as in videogames]... on the non-financial side, identity, credentials, key revocation, and all of those things... fourth is parametric insurance... this is insurance that [for example] says if some extreme weather event happens, then pay me $500."