HomeTradingEthereum current price needs an extra boost

Ethereum current price needs an extra boost

On Coinmarketcap, this morning there are only 2 positive signs among the top 20 cryptocurrencies per capitalization: Dash, which rises 2% from yesterday’s levels, and Tezos with over 7% probably thanks to the launch of its mainnet.

After more than two months of testing, the team of the Tezos Foundation has officially announced the migration to their proprietary blockchain.

Total capitalisation continues to fluctuate around 200 billion dollars: bitcoin falls below 56% of its market share, two points down from the annual highs reached last week.

Ethereum recovers some ground after reaching its lowest point in the last 18 months, reaching more than 11% of the total market cap.

Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

During last week’s bearish storm, bitcoin once again proved, as it has done several times in recent months, to be the best cryptocurrency to find refuge.

After one week the balance turns out to be positive, just below the percentage point. For the bears, it remains difficult to break the 6,000 dollars threshold, while for the bulls the wall of 6,550 dollars is insurmountable, a level which has been resisting since the beginning of the month.

The volumes and volatility decreasing below the average of the last month are symptoms of a market waiting for the next move, with prices getting closer and closer to the final part of the descending triangle.

Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

Ethereum current price from the low of Wednesday, September 12th, rebounded by more than 34% and managed to rise above the psychological threshold of 200 dollars. This movement is accompanied by high volumes, highlighting important coverings of downward positions.

This movement was preceded by a bearish trend that has been present for about 2 months and which marks a loss in value of more than 65%: technically the intense upward movement of recent days is justified.

The next few days will clarify whether this is the classic technical-pullback bounce, or the beginning of the recovery long awaited and hoped for by Vitalik’s fans.

Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".