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Cardano is currently trading at $2.24 following a magnificent 17.63% bounce from its weekly low of $1.91.

The polarising cryptocurrency, which is the third largest in terms of market cap, recently launched its highly-anticipated smart contracts platform that will pave the way for DeFi development.

However, the positive sentiment surrounding the upgrade rapidly subsided as traders capitalised on the “buy the rumour, sell the news” thesis, with price subsequently plunging by more than 30%.

This typically happens with most major news events as hype builds into the event before deleveraging punishes those that bought at the top. A good example of this was when Coinbase went live on Nasdaq the day of Bitcoin’s all-time high at $65,000.

ADAUSD chart by TradingView

In Cardano’s case, whilst this week’s recovery has shown signs of strength, it remains stuck at a number of road blocks from a technical perspective.

The daily 50 exponential moving average became a key point of support since it surged above it on August 1. The most recent sell-off saw Cardano slump below that key moving average, with it now beginning to act as a bitter level of support.

If ADA can close a daily candle above the 50EMA at $2.28, it will likely float back to the top of the range at around $2.65.

A rejection from this level would signal a clear downtrend with downside price targets beginning to emerge as low as $1.55 and $1.39.

Cardano pricing

Current live ADA pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Cardano price. Pricing is also available in a range of different currency equivalents:

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Russian Rouble – ADAtoRUB

Bitcoin – ADAtoBTC

About Cardano

Cardano claims to have tried to change the way cryptocurrencies are designed and developed, balancing the best of the functionality of several cryptocurrencies into one coin. The project began in 2015, the work of a global team of scientists and academics. ADA was released in September 2017.

Cardano is one of the largest cryptocurrencies and is one of The Top 10 Cryptocurrencies by market capitalisation.

More Cardano news & information

If you want to find out more information about Cardano or cryptocurrencies in general, then use the search box at the top of this page. Here’s the latest Cardano article to get you started:

Cardano 1.4 update unveiled By Paul Hindle – September 23, 2021

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Key Support Levels: $2770, $2720, $2600. Key Resistance Levels: $3000, $3200, $3290.

Ethereum is now down a steep 15% on the week as it plummeted beneath $3000. The coin started the week off by falling beneath a rising trend line and the 50-day MA. The trend line also formed the neck of a head and shoulders pattern that could send it as low as $2400.

Since breaking the 50-day MA, ETH continued to decrease until it hit yesterday’s low at $2656. From there, the bulls regrouped to close the candle at $2770, which is support provided by a .786 Fib. It bounced from there today as it battles to stay above $2900.

ETH-USD Short Term Price Prediction

Looking ahead, the first strong support lies at $2770 (.786 Fib). This is followed by $2720 (100-day MA), $2600 (200-day MA), and $2420 (downside 1.618 Fib Extension).

On the other side, the first resistance lies at $3000. This is followed by $3200, $3290 (50-day MA), $3350, and $3400 (20-day MA).

The RSI is beneath the midline, indicating the bears are in control of the market momentum.

ETH/BTC – ETH Falls Into July Highs

Key Support Levels: 0.068 BTC, 0.0667 BTC, 0.066 BTC. Key Resistance Levels: 0.07 BTC, 0.071 BTC, 0.0733 BTC.

ETH also continues to decrease against BTC. On Sunday, the coin fell beneath support at 0.0711 BTC (.382 Fib) to meet 0.07 BTC (50-day MA). It continued below the 50-day MA on Monday to hit 0.0691 BTC.

Yesterday, ETH plummeted beneath 0.069 BTC to reach as low as 0.067 BTC. By the end of the day, the bulls managed to close the daily candle at 0.068 BTC. Today, ETH rebounded and is now above 0.069 BTC.

ETH-BTC Short Term Price Prediction

Moving forward, the first strong resistance lies at 0.07 BTC. This is followed by 0.071 BTC (50-day MA), 0.0733 BTC (August highs), and 0.0765 BTC (bearish .786 Fib).

On the other side, the first support lies at 0.068 BTC (rising trend line). This is followed by 0.0667 BTC (downside 1.272 Fib Extension), 0.066 BTC (.618 Fib), and 0.064 BTC.

The RSI is also beneath the midline here, indicating bearish momentum is control.

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Bitcoin’s (BTC) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels. 

By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines.

On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike McGlone has maintained his target of $100,000 for Bitcoin. McGlone said that a number of different charts underline the bullish potential for Bitcoin.

Along with Bitcoin, Ether (ETH) is also showing signs of accumulation. Crypto analytics provider IntoTheBlock said $1.2 billion worth of Ether was withdrawn within a 24-hour period from centralized exchanges on Sept. 16. After a similar occurrence in April, Ether had rallied about 60% in 30 days.

Could the top two cryptocurrencies live up to their bullish projections or will crypto markets surprise to the downside? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

The bulls are attempting to sustain Bitcoin above the 20-day exponential moving average (EMA) ($47,291) while bears are trying to pull the price below it. The 20-day EMA has flattened out and the relative strength index (RSI) is close to the midpoint, suggesting a range-bound action in the short term.

If bears sink the price below the moving averages, the BTC/USDT pair could drop to the critical support at $42,451.67. A rebound off this level will indicate that bulls are accumulating on dips. That may extend the consolidation between $42,451.67 and $52,920 for a few more days.

On the contrary, if the price rebounds off the current level or the 50-day simple moving average (SMA)  ($46,256), the bulls will try to push the pair to $50,500 and then to $52,920. The bears are likely to defend this resistance zone aggressively.

The next major trending move is likely to begin after bulls drive the price above $52,920 or if bears pull the price below $42,451.67.

ETH/USDT

Ether’s (ETH) recovery is facing stiff resistance at the 61.8% Fibonacci retracement level at $3,637.14, indicating selling at higher levels. The bears are attempting to sink the price back below the support at $3,377.89.

If they succeed, the ETH/USDT could drop to the 50-day SMA ($3,238) and then to the critical support at $3,000. Such a move may result in the formation of a head and shoulder pattern, which will complete on a break and close below $3,000.

This negative view will invalidate if the price rebounds off the support at $3,377.89 or the 50-day SMA and breaks above $3,676.28. The pair could then retest the local high at $4,027.88.

The flattish 20-day EMA and the RSI just above the midpoint do not indicate a clear advantage either to the bulls or the bears.

ADA/USDT

Cardano (ADA) turned down from the 20-day EMA ($2.52) on Sept. 16, suggesting that bears are selling on rallies to this resistance. The bears are currently attempting to pull the price to the 50-day SMA ($2.25).

The downsloping 20-day EMA and the RSI in the negative zone suggest that bears are in command. If the price sustains below the 50-day SMA, the ADA/USDT pair could drop to the next support at $1.94.

Such a deep correction will suggest that a short-term top has been made. If bulls want to salvage the uptrend, they will have to push and sustain the price above the 20-day EMA. If they do that, the pair could once again rally to $2.80 and then to $2.97.

BNB/USDT

The bulls failed to push Binance Coin (BNB) above the 20-day EMA ($432) in the past two days, indicating that buying dries up at higher levels. This may have attracted profit-booking from short-term traders who bought at lower levels, anticipating a resumption of the up-move.

The 20-day EMA is sloping down and the RSI turned down from the midpoint, suggesting advantage to the sellers. If the price sustains below the 50-day SMA, the BNB/USDT pair could drop to the next major support at $340.

This negative view will be invalidated if the bulls push and sustain the price above the 20-day EMA. Such a move will suggest that the bulls have absorbed the supply. The pair could then rise to the overhead resistance at $518.90.

XRP/USDT

Ripple (XRP) turned down from the 20-day EMA ($1.12) on Sept. 16, indicating that bears are defending this level aggressively. The downsloping 20-day EMA and the RSI in the negative zone suggest that the path of least resistance is to the downside.

If bears sustain the price below the 50-day SMA, the XRP/USDT pair could retest the Sept. 7 intraday low at $0.95. A break and close below this support will open the doors for a deeper correction to $0.75.

If the price rebounds off the current level or from $0.95, the bulls will again try to push the price above the 20-day EMA. If they succeed, it will suggest that the correction could be over. The pair may then start its northward march toward $1.35.

SOL/USDT

Solana’s (SOL) bounce off the 20-day EMA ($145) on Sept. 14 fizzled out at $166.50 as bears continued to pounce on relief rallies. The price has slipped below the 20-day EMA today, indicating weakness.

The flattening 20-day EMA and the RSI just above the midpoint suggest that bulls have lost their grip. If bears sustain the price below the 20-day EMA, the SOL/USDT pair could decline to the 61.8% Fibonacci retracement level at $123.42.

This is an important support to watch out for because if it cracks, the pair could plunge to psychological support at $100.

Conversely, if the price turns up from the current level or rebounds off $123.42, the bulls will try to resume the uptrend. The up-move could face stiff resistance near $170 and then at $200.

DOT/USDT

Polkadot (DOT) turned down from the resistance line on Sept. 15 and dropped close to the 20-day EMA ($32.04) on Sept.. This is an important level for the bulls to defend because a break below it could pull the price down to the 50-day SMA ($26.36).

Although the moving averages are sloping up, the negative divergence on the RSI warns that the bullish momentum could be slowing down. A break and close below the 50-day SMA could suggest the start of a deeper correction.

Contrary to this assumption, if the price rebounds off the 20-day EMA, the bulls will again try to propel the DOT/USDT pair above the resistance line. If they manage to do that, the pair could pick up momentum and rally to $41.40 and then retest the all-time high at $49.78.

Related: Next stop $85K for Bitcoin as analysts predict ‘explosive’ Q4 for BTC price action

DOGE/USDT

Although Dogecoin (DOGE) has been trading below the moving averages for the past few days, the bears have not been able to sink the price to the immediate support at $0.21. This suggests a lack of sellers at lower levels.

The bulls attempted to push the price above the moving averages today but the bears are in no mood to relent. The downsloping 20-day EMA ($0.26) and the RSI below 42 indicate that sellers have the upper hand.

If bears sink the price below $0.21, the DOGE/USDT pair could extend the decline to $0.15. Alternatively, if bulls drive the price above the moving averages, the pair could rise to the downtrend line.

A break and close above this resistance will be the first sign that the correction may be over. The pair could then start its journey toward the overhead resistance at $0.45.

UNI/USDT

Uniswap (UNI) surged above the moving averages on Sept. 15 but the bulls could not push the price above the downtrend line, which may have attracted profit-booking by the short-term bulls and shorting by the aggressive bears.

The flat 20-day EMA ($25.72) and the RSI just below 50 indicate a marginal advantage to the bears. If the price sustains below $25, the bears will try to pull the UNI/USDT pair to $23.50 and then to $21. If this support cracks, it will indicate the start of a deeper correction.

On the contrary, if the price rebounds off the current level or $23.50, the bulls will again try to drive the price above the downtrend line. If they succeed, the pair could move up to the overhead resistance at $31.41.

LUNA/USDT

Terra protocol’s LUNA token rose to $39.77 on Sept. 16 but could not sustain the higher levels as seen from the long wick on the day’s candlestick. This suggests that traders may be closing their long positions on rallies.

The bears will now try to seize the opportunity and sink the price below the 20-day exponential moving average ($33.97). If they manage to do that, the LUNA/USDT pair could decline to the 50-day SMA ($26.26).

Alternatively, if the price again rebounds off the 20-day EMA, the pair could rise to $40 and remain range-bound between these two levels for a few more days. A breakout and close above $40 could open the doors for a retest of the all-time high at $45.01.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

The crypto markets and the U.S. equity markets sold off on Sept. 20 on fears that the collapse of Chinese property giant Evergrande could not only hurt China but also have wider implications in other markets.

When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safe-haven trades. This could be one of the reasons for the sharp fall in Bitcoin (BTC) and most major altcoins on Sept. 20.

Data from Bybt shows that Bitcoin held in Binance wallets has surged by 29,717 Bitcoin in the past 30 days. History suggests that an increase in the Bitcoin balance on Binance has resulted in a drop in Bitcoin’s price.

The Bitcoin balance on Binance rose from 99,700 BTC on April 20 to 347,590 BTC on June 26. During this period, Bitcoin’s price plunged from about $57,000 to roughly $30,000.

Now the question is, could the sell-off deepen or will lower levels attract aggressive buying from traders? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin’s selling exacerbated after bears pulled the price below the moving averages. The price action of the past few days has formed a head and shoulders pattern that will complete on a breakdown and close below the neckline.

The moving averages are on the verge of a bearish crossover and the relative strength index (RSI) has dropped below 41, indicating that bears are in control. If the price sustains below the neckline, the BTC/USDT pair could drop to $37,332.70 and then to the pattern target of $32,423.05.

Contrary to this assumption, if the price rebounds off the neckline, the bulls will again try to push the price toward $50,000. However, the bears are likely to defend the 20-day exponential moving average (EMA) ($47,014) aggressively.

If the price turns down from this resistance, it will indicate that sentiment has turned negative and traders are selling on rallies. The first sign of strength will be a break and close above $48,843.20.

ETH/USDT

Ether (ETH) bounced off the support at $3,377.89 on Sept. 18, but the bulls could not sustain the price above the 20-day EMA ($3,402). This indicates that traders closed positions at higher levels.

If the price breaks and closes below $3,000, the ETH/USDT pair will complete a bearish head and shoulders pattern. The target objective of this setup is $1,972.12.

The 20-day EMA has started to turn down and the RSI is below 42, indicating that the path of least resistance is to the downside.

On the contrary, if bulls defend the $3,000 level aggressively, the pair could again rise toward the overhead resistance at $3,377.89. The bears are likely to defend this level but if bulls overcome this resistance, it will signal that the correction may be over.

ADA/USDT

The bulls defended the 50-day simple moving average (SMA) ($2.31) on Sept. 18 but could not build on the rebound. Sustained selling pulled Cardano (ADA) below the 50-day SMA on Sept. 19.

The selling escalated on Sept. 20 and the ADA/USDT pair plunged to critical support at $1.94. The strong rebound off this level suggests that bulls are accumulating on dips.

If buyers sustain the bounce, the pair could gradually move up toward the overhead resistance at $2.47. The bears are likely to sell on relief rallies to the 20-day EMA ($2.45). If the price turns down from this resistance, the pair could again drop to $1.94.

A break and close above the 20-day EMA will be the first sign that the sellers may be losing their grip.

BNB/USDT

Binance Coin (BNB) broke below the 50-day SMA ($422) on Sept. 17 and subsequent attempts by the bulls to reclaim the level failed. This suggests that bears are selling on every minor rally.

The selling picked up momentum on Sept. 20 and the BNB/USDT pair dropped close to the critical support at $340. This is an important level for the bulls to defend because a break below it could open the doors for a decline to $300 and then $250.

The moving averages have completed a bearish crossover and the RSI is in the negative zone, indicating that bears have the upper hand.

If the price rebounds off $340, the pair could rise to the 20-day EMA. This level is likely to act as a stiff resistance. The bulls will have to push and sustain the price above $422.80 to indicate that the correction may be over.

XRP/USDT

Ripple (XRP) had been trading near the breakout level at $1.07 for the past few days, but the failure of the bulls to push the price above the 20-day EMA ($1.09) showed that bears were selling on rallies.

The selling intensified after the bears pulled and closed the price below the 50-day SMA ($1.08) on Sept. 19. The moving averages are on the verge of a bearish crossover and the RSI has dropped into the negative zone, indicating that bears are in command.

If the price sustains below $0.95, the XRP/USDT pair could drop to $0.75. Any relief rally from the current level is likely to face stiff resistance at the 20-day EMA. A breakout and close above $1.13 will signal that bulls are attempting a comeback.

SOL/USDT

The long tail on the Sept. 17 candlestick shows that bulls aggressively bought the dip below the 20-day EMA ($148). That was followed by a strong bounce of Sept. 18 but the bulls could not sustain Solana (SOL) above the first resistance at $170.

This may have attracted profit-booking from bulls and shorting from aggressive bears. The 20-day EMA has flattened out and the RSI is close to the midpoint, indicating that bulls are losing their grip.

If the price sustains below the 20-day EMA, the SOL/USDT pair could drop to the 61.8% Fibonacci retracement level at $123.42. A break and close below this support will suggest that the uptrend could be over.

The bulls will have to push and sustain the price above $171.47 to signal the end of the corrective phase.

DOT/USDT

Polkadot’s (DOT) rebound off the 20-day EMA ($32.12) on Sept. 18 was followed by an inside-day candlestick pattern on Sept. 19. This showed indecision among the bulls and the bears.

This uncertainty resolved to the downside on Sept. 20 with a break below the 20-day EMA. The selling picked up momentum and dropped to critical support at the 50-day SMA ($27.29). This is an important support for the bulls because they had successfully defended it on Sept. 7.

If the DOT/USDT pair rebounds off the current level, the bears are likely to sell on rallies to the 20-day EMA. If the price turns down from this level, it will suggest that the sentiment has turned negative and that will increase the prospects of a break below the 50-day SMA. This negative view will invalidate if the price turns up and rises above $34.

Related: Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears

DOGE/USDT

Dogecoin’s (DOGE) tight range trading of the past few days resolved to the downside on Sept. 20 as bears pulled the price to the strong support at $0.21.

The falling 20-day EMA ($0.25) and the RSI near the oversold territory indicate that bears are in control. If they can sink and sustain the price below the $0.21 support, the DOGE/USDT pair could slide to $0.15.

If the price rebounds off the current level, the bulls will again try to push the pair above the 20-day EMA. If they manage to do that, the pair could rise to the downtrend line. Alternatively, if the price turns down from the 20-day EMA, it will increase the prospects of a break below $0.21.

UNI/USDT

The bulls attempted a recovery on Sept. 18 but could not push Uniswap (UNI) above the 20-day EMA ($25.09). This showed that bears are aggressively defending the 20-day EMA.

The UNI/USDT pair continued lower and the bears pulled the price below the critical support at $21 today. If the price sustains below this support, the pair could witness panic selling and decline to the next support at $18.

The downsloping 20-day EMA and the RSI in the negative zone indicate an advantage to bears. This negative view will invalidate if the price turns up from the current level and rises above the downtrend line. Such a move will indicate strong accumulation at lower levels.

AVAX/USDT

The long wick on the Sept. 18 and 19 candlestick showed that traders were booking profits at higher levels. The selling intensified today and Avalanche (AVAX) dropped to the 20-day EMA ($55.16).

The strong rebound off the 20-day EMA suggests that sentiment remains positive and traders are accumulating on dips. If the price sustains above $60.04, the bulls will again attempt to push the AVAX/USDT pair toward the all-time high at $76.27.

On the contrary, if the price turns down from the current level and breaks below the 20-day EMA, the bearish momentum could pick up as traders may rush to the exit. That could pull the price down to $48 and then to the 50-day SMA ($38.56) where buyers may step in to arrest the decline.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

The crypto market’s recovery was rocked on Sept. 24 after news that China's government is adopting a new set of measures that includes stronger inter-departmental coordination to “cut off payment channels, dispose of relevant websites and mobile applications” to crack down on illegal cryptocurrency transactions efficiently.

Although the news has caused a selloff, long-term investors are unlikely to be perturbed because, apart from announcing additional measures to enforce the existing ban effectively, there is nothing else that has changed.

China first announced a ban on cryptocurrencies back in September 2017 and that news had also resulted in a sharp correction in Bitcoin (BTC) price. However, that dip proved to be a good buying opportunity because the price recovered within a few weeks and went on to hit a new all-time high close to $20,000 in less than three months.

Is the current correction in Bitcoin and most major altcoins a good buying opportunity or could the crypto markets tumble further? Let’s analyze the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin bounced off the 100-day simple moving average ($40,874) and rose above the neckline of the head and shoulders pattern on Sept. 22. That showed strong demand at lower levels but the recovery could not clear the hurdle at the 20-day exponential moving average ($45,596).

The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone indicate that bears have the upper hand. If bears sink and sustain the price below the 100-day SMA, the BTC/USDT pair could decline to $37,332.70.

This level may act as a strong support but if it cracks, the next stop could be at the pattern target at $32,423.05.

Contrary to this assumption, if the price turns up from the current level or the 100-day SMA, the bulls will again try to drive the pair above the moving averages. A close above the 50-day SMA ($46,816) will suggest that the correction may be over.

ETH/USDT

Ether (ETH) rebounded off the 100-day SMA ($2,734) on Sept. 22 and rose above the breakdown level at $3,000. This shows that bulls bought the dip and tried to trap the aggressive bears.

However, the recovery stalled at $3,174.50 on Sept. 23 and the bears are attempting to establish their supremacy. The downsloping 20-day EMA ($3,255) and the RSI below 41 indicate that bears are in command.

If the index breaks and closes below the 100-day SMA, the ETH/USDT pair could witness aggressive selling. The pair could then drop towards the pattern target at $1,972.12. This negative view will invalidate if bulls drive and sustain the price above the moving averages.

ADA/USDT

Cardano’s (ADA) strong rebound off the $1.94 level hit a roadblock at the 20-day EMA ($2.36). This suggests that sentiment remains negative and traders are selling on rallies to the 20-day EMA.

The bears will now try to sink the price below the critical support zone at $1.94 and the 100-day SMA ($1.83). If they succeed, the ADA/USDT pair could plummet to $1.60 and then to $1.40.

Alternatively, if the price rises from the current level or rebounds off $1.94, the bulls will again attempt to clear the overhead hurdle. A break and close above the 20-day EMA will be the first sign that the correction may be over. The pair could then rally to $2.60 and then $2.80.

BNB/USDT

Binance Coin’s (BNB) rebound off the strong support at $340 turned down from $385.30 today, indicating strong selling by traders at higher levels.

The downsloping 20-day EMA ($402) and the RSI below 37 indicate that bears are in control. If the $340 support cracks, the selling could intensify and the BNB/USDT pair could extend its decline to $300 and then to $250.

Contrary to this assumption, if the price rebounds off the current level, the bulls will make one more attempt to push the price above the moving averages. A break and close above $433 will signal that the correction may have ended.

XRP/USDT

XRP bounced off the 100-day SMA ($0.87) on Sept. 22 but the bulls could not extend the recovery. The altcoin formed a Doji candlestick pattern on Sept. 23, indicating indecision among the bulls and the bears.

The uncertainty resolved to the downside today as bears have pulled the price down to the 100-day SMA. If this support gives way, the selling could pick up momentum and the XRP/USDT pair could slide to $0. 70.

This level may act as a strong support but if bears sink the price below it, the next stop could be $0.50. This negative view will be negated if the price rebounds off the 100-day SMA and rises above the $1.07 to $1.13 resistance zone.

SOL/USDT

Solana (SOL) bounced and rose above the 20-day EMA ($145) on Sept. 22 but the bulls could not push the price above the downtrend line. This suggests that bears are selling on rallies.

The bears have pulled the price back below the 20-day EMA today and the SOL/USDT pair could now drop to the 50-day SMA ($108). This level is likely to act as a strong support.

If the price rebounds off it, the bulls will again try to thrust and sustain the price above the downtrend line. If they can pull it off, the pair could rise to $170 and then to $200.

Conversely, if the 50-day SMA cracks, the pair could witness panic selling and the price could then drop to the 78.6% Fibonacci retracement level at $98.26.

DOT/USDT

Polkadot’s (DOT) rebound off $25.50 stalled at $33.60. This suggests that bears are selling at higher levels. The bears are attempting to pull the price below the breakout level at $28.60. If they manage to do that, a retest of $25.50 is likely.

A break and close below $25.50 will complete a bearish head and shoulders pattern. The DOT/USDT pair could then start its decline to the 100-day SMA ($21.87) and then to the pattern target at $12.23.

Contrary to this assumption, if the price rebounds off the current level or the neckline, the bulls will make one more attempt to resume the up-move. A break and close above $33.60 could open the doors for a retest at $38.77.

Related: Bitcoin hits $45K, TWTR stock price rises 3.8% after BTC tipping comes to Twitter

DOGE/USDT

The bulls pushed Dogecoin (DOGE) above $0.21 on Sept. 22 but the recovery failed to attract buyers at higher levels. After forming an inside-day candlestick pattern on Sept. 23, the price has dropped below $0.21 today.

The downsloping 20-day EMA ($0.23) and the RSI near 36 suggest that sellers have the upper hand. If bears sink the price below the $0.19 support, the DOGE/USDT pair could extend its decline to the critical support at $0.15.

This level has held on three previous occasions, hence the bulls will again try to defend it. On the other hand, if bears sink the price below $0.15, the selling may intensify and the pair could plummet to $0.10.

AVAX/USDT

Avalanche (AVAX) rebounded off the 20-day EMA ($60.15) on Sept. 21 and rose to a new all-time high on Sept. 23. However, the bulls could not thrust the price above the resistance line of the ascending channel, which may have resulted in profit-booking by short-term traders.

The AVAX/USDT pair has turned down today and the first stop could be the support line of the channel. A strong rebound off this support will indicate that the uptrend remains intact and traders are accumulating on dips. The pair could then rise to $94.

On the other hand, a break and close below the channel will be the first sign that the bulls may be losing their grip. If bears pull the price below the 20-day EMA, the pair could plummet to $48 and then to the 50-day SMA ($43.06).

LUNA/USDT

The bulls successfully defended the retest of the breakout level in Terra protocol’s LUNA token on Sept. 21. This suggested that sentiment remained positive and traders viewed the dips as a buying opportunity.

The buyers pushed the price above the 20-day EMA ($33.06) on Sept. 22 and followed that up with another up-move on Sept. 23. Although the 20-day EMA has started to turn up, the RSI is showing a negative divergence, indicating that the bullish momentum may be weakening.

If bears pull and sustain the price below the 20-day EMA, the LUNA/USDT pair could again drop to the critical support at $22.40. This is an important level to watch out for because if it cracks, the selling could intensify and the pair may drop to $18.

On the upside, if bulls drive the price above $40, the pair could retest the all-time high at $45.01. A breakout and close above this level could signal the resumption of the uptrend.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

The crypto markets and United States equity markets are attempting recovery on Sept. 22 as fears of a widespread contagion due to Chinese developer Evergrande defaulting on its debt recede. Bridgewater Associates co-chairman and co-chief investment office Ray Dalio said on Sept. 22 that Evergrande’s debt was “manageable.”

Ming Tan, a director at the credit rating agency Standard & Poor’s, said that the Chinese government may step in and restructure Evergrande.

The Crypto Fear & Greed Index had plunged to 21 levels, indicating extreme fear among investors. However, while speaking on CNBC, Galaxy Digital CEO Mike Novogratz said that the crypto markets remain in good shape as long as Bitcoin (BTC) sustains above $40,000 and Ether (ETH) stays above $2,800.

Traders may now shift their focus to the Federal Reserve’s policy statement with economic and interest rate forecasts on Sept. 22, which will be followed by a press conference by Fed Chair Jerome Powell.

Could Bitcoin and altcoins sustain the rebound or will higher levels attract selling by the bears? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin plunged below the neckline on Sept. 21, which completed the bearish head and shoulders pattern. However, a positive was that the bulls have pushed the price back above the neckline on Sept. 22. This suggests strong buying at lower levels.

If buyers sustain the price above the neckline, it could trap several aggressive bears, resulting in a short squeeze. The BTC/USDT pair could then rally to the 20-day exponential moving average (EMA) ($46,038) where bears may pose a stiff challenge.

The moving averages have completed a bearish crossover and the relative strength index (RSI) is in the negative zone, indicating that bears are in command.

If the price fails to sustain above the neckline, the bears will attempt to resume the downtrend. The first support on the downside is $37,332.70 and then the pattern target at $32,423.05.

A break and close above the moving averages will be the first indication that the correction may be over.

ETH/USDT

Ether plummeted and closed below $3,000 on Sept. 20, which completed the bearish head and shoulders pattern. Usually, the breakdown from the neckline is retested and that is what happened on Sept. 22.

The moving averages have completed a bearish crossover and the RSI is in the negative zone, indicating advantage to bears. If the price turns down from the current level, the bears will attempt to resume the down move toward the pattern target at $1,972.12.

Conversely, if bulls sustain a price above $3,000, it will indicate an accumulation on dips. The ETH/USDT pair could then rally to the 20-day EMA ($3,303), which may again act as a stiff resistance. A breakout and close above this level could signal that bulls are back in the game.

ADA/USDT

Cardano (ADA) is in a strong corrective phase but the bulls are attempting to arrest the decline at the strong support at $1.94, where they are likely to run into a wall at the 20-day EMA ($2.38).

The moving averages are close to completing a bearish crossover and the RSI is in the negative territory, suggesting that bears have the upper hand. If the price turns down from the 20-day EMA, the bears may again challenge the $1.94 support.

A break and close below this level could open the doors for a further fall to $1.60. The bulls will have to push and sustain the price above the 20-day EMA to indicate the start of a sustained recovery. The ADA/USDT pair could then rise to $2.60 and later to $2.80.

BNB/USDT

Binance Coin (BNB) broke below the Sept. 7 low at $369 on Sept. 20 and reached strong support at $340 on Sept. 21. The bulls are currently attempting to defend this level.

The moving averages have completed a bearish crossover and the RSI is below 41, indicating that bears are at an advantage. Any pullback is likely to be met with strong selling near the 20-day EMA ($410).

If bears sink the price below $340, the BNB/USDT pair could drop to the psychological support at $300 and then to $250. This negative view will be negated if bulls propel and sustain the price above the overhead resistance at $433.

XRP/USDT

Ripple (XRP) plunged and closed below the Sept. 7 intraday low at $0.95 on Sept. 20, suggesting that supply exceeds demand. The moving averages have completed a bearish crossover and the RSI is in the negative zone, indicating that bears have the upper hand.

The current relief rally is likely to hit a hurdle at the 20-day EMA ($1.06). If the price turns down from this resistance, it will indicate that traders continue to sell on rallies. The bears will then attempt to resume the down move.

If the price slips below $0.85, the XRP/USDT pair could drop to the next support at $0.75. The bulls will have to push and sustain the price above the overhead resistance zone at $1.07 to $1.13 to indicate strength.

SOL/USDT

Solana (SOL) broke and closed below the 20-day EMA ($144) on Sept. 20, which is the first sign that the bullish momentum may be weakening. The bulls attempted to push the price back above the 20-day EMA on Sept. 21 but failed, indicating that bears are attempting a comeback.

The SOL/USDT pair rebounded off the 61.8% Fibonacci retracement level at $123.42 and has reached the 20-day EMA.

If bulls push the price above the 20-day EMA and the downtrend line, the pair could rise to $171.47. This level may again act as a resistance but a break above it could result in a move to $200 and then to $216.

On the contrary, if the price turns down from the current level or the downtrend line, it will suggest selling at higher levels. The bears will then try to sink the price below $123.42 and extend the decline to the 50-day simple moving average ($104).

DOT/USDT

Polkadot (DOT) broke below the 50-day SMA ($27.71) on Sept. 21 but bulls bought the dip aggressively and reclaimed the level on Sept. 22. That seems to have trapped the bears, resulting in a short squeeze.

The DOT/USDT pair has reached the 20-day EMA ($31.42) which is an important level to watch out for. If buyers drive the price above this resistance, the pair could rise to $35 and then retest $38.77.

Conversely, if the price turns down from the 20-day EMA, it will suggest that traders are selling on rallies. The bears will then make one more attempt to pull the price to the Sept. 7 intraday low at $22.66.

Related: Bitcoin bounces again after briefly losing $40K support — Watch these BTC price levels

DOGE/USDT

Dogecoin (DOGE) broke and closed below the $0.21 support on Sept. 20, but the bears could not crack the next support at $0.19. This suggests demand at lower levels.

The bulls are attempting to sustain the price above $0.21 on Sept. 22. If that happens, the DOGE/USDT pair could rise to the 20-day EMA ($0.24). The bears are likely to defend this level aggressively.

If the price turns down from the 20-day EMA, the bears will make one more attempt to sink the price below the $0.21 to $0.19 support zone. If they manage to do that, the pair could drop to the critical support at $0.15.

The bulls will have to push and sustain the price above the downtrend line to indicate that the correction could be over.

AVAX/USDT

Avalanche (AVAX) bounced back sharply from the 20-day EMA ($56.34) on Sept. 22, suggesting that the sentiment remains positive and traders are buying on dips.

The buyers have pushed the price above the overhead resistance at $66.24, increasing the possibility of a retest of the all-time high at $76.27. A breakout and close above this resistance will signal the resumption of the uptrend.

Contrary to this assumption, if the price turns down from the current level or the overhead resistance, it will indicate that higher levels are attracting profit-booking. The bears will then make one more attempt to sink the price below the 20-day EMA.

If they succeed, the AVAX/USDT pair could start a deeper correction to $48 and then to the 50-day SMA ($40.49).

UNI/USDT

Uniswap (UNI) broke and closed below the Sept. 7 intraday low at $21, suggesting that traders are rushing to the exit. The price is presently correcting inside a descending channel pattern.

The 20-day EMA ($24.10) is sloping down and the RSI is below 41, indicating that bears have the upper hand. Any rebound from the current level is likely to face stiff resistance at the 20-day EMA.

If the price turns down from this resistance, the UNI/USDT pair could drop to the support line of the channel. A break below $18 could open the doors for a possible decline to $13.

This negative view will invalidate if the price breaks and closes above the descending channel. The pair could then gradually move up to $27.62.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Ethereum is down a sharp 21% this week as the coin sits beneath $3000. The sell-off started on Monday when ETH slipped beneath the neckline of a head & shoulders pattern and the 50-day MA. Initially, the market found support at $3000 but would continue to fall beneath it on Tuesday to find support at $2770 (.786 Fib Retracement).

ETH did rebound on Wednesday and Thursday as it climbed back above $3000. However, it lost another sharp 9% today, causing it to break back beneath $3000 and reach the support at the 100-day MA at around $2730.

Looking ahead, if the sellers push lower, the first support lies between $2770 (.786 Fib) and $2730 (100-day MA). This is followed by $2600 (200-day MA), $2500, $2420 (downside 1.618 Fib Extension), and $2200 (.786 Fib).

On the other side, the first resistance lies at $2890. This is followed by $3000, $3200, $3350 (50-day MA & 20-day MA), and $3500.

ETH is also struggling against BTC this week as it dropped as low as 0.0667 BTC (downside 1.272 Fib Extension) today. The cryptocurrency fell beneath the 50-day MA and 0.07 BTC on Monday as it continued to slide until support was met at 0.068 BTC. The level there was bolstered by a rising trend line that allowed ETH to rebound on Wednesday.

Unfortunately, ETH was unable to overcome the resistance at the 50-day MA and fell from there today to reach as low as 0.0667 BTC. It has since bounced and is trading above the rising trend line.

Looking ahead, if the sellers break the trend line and fall beneath 0.068 BTC, the first solid support lies at 0.0667 BTC. This is followed by 0.066 BTC (.618 Fib & 100-day MA), 0.065 BTC, 0.064 BTC, and 0.0632 BTC (downside 1.618 Fib Extension).

On the other side, the first resistance lies at 0.0691 BTC. This is followed by 0.07 BTC (50-day MA), 0.0711 BTC, and 0.072 BTC.

Ripple

XRP dropped by a steep 17% this week as it falls back beneath $1. XRP dropped below the 50-day MA on Sunday and continued on Monday as it lost the 200-day MA until it found support at $0.875 (.618 Fib & 100-day MA).

XRP held $0.875 on Tuesday and rebounded from there on Wednesday to return to $1. Unfortunately, the buyers could not break this level and fell from there today to return to the 100-day MA support.

Looking ahead, if the bears push beneath the 100-day MA, the first support lies at $0.8282 (2020 highs). This is followed by $0.8 (downside 1.272 Fib Extension), $0.732 (downside 1.414 Fib Extension), $0.7, and $0.65.

On the other side, the first resistance lies at $0.95 (200-day MA). This is followed by $1, $1.05, and $1.10 (50-day MA).

XRP is also in a bearish battle against BTC as it sits above 2200 SAT. On Monday, XRP fell beneath 2225 SAT (.5 Fib) and spiked as low as 2050 SAT (.618 Fib). More specifically, the coin found support at a rising trend line and rebounded from there on Wednesday.

It managed to reach as high as 2300 SAT and reversed from there yesterday. Today, XRP fell beneath 2200 SAT but found support at the rising trend line. It is still above the weekly low, which is a very promising sign.

Looking ahead, if the bears push beneath the rising trend line, the first support lies at 2100 SAT (200-day MA & 100-day MA). This is followed by 2075 SAT (.618 Fib), 2000 SAT, 1900 SAT (July 2020 low), and 1735 SAT (.886 Fib).

On the other side, resistance is first expected at 2300 SAT. This is followed by 2350 SAT (50-day MA), 2400 SAT, and 2500 SAT.

Cardano

ADA fell by a small 11% this week as the coin currently sits at $2.18. It also dropped beneath the 50-day MA on Monday and continued to slip until support was found at $1.88 (downside 1.414 Fib Extension) on Tuesday.

More specifically, ADA found support at $2.00 (.618 Fib Retracement) and rebounded from there on Wednesday.

Yesterday, ADA briefly crossed a falling trend line to reach the resistance at the 50-day MA. It continued to spike as high as $2.50 earlier today but has since dropped back beneath $2.20.

Looking ahead, the first strong support lies at $2.00 (.618 Fib). This is followed by $1.88 (downside 1.414 Fib Extension), $1.80 (100-day MA), and $1.66 (.786 Fib).

On the other side, the first resistance lies at $2.40 (bearish .382 Fib & 50-day MA). This is followed by $2.53 (bearish .5 Fib), $2.68 (.bearish .618 Fib), and $2.80.

ADA is attempting to recover against BTC as it sits above 5200 SAT. The coin found solid support at 4800 SAT on Monday and managed to hold it during the entire week.

On Wednesday, ADA finally surged back above the 50-day MA and continued higher above 5000 SAT. It broke the 20-day MA at 5200 SAT today and reached above 5500 SAT.

Looking ahead, the first support lies at 5000 SAT (50-day MA). This is followed by 4800 SAT, 4715 SAT (.5 Fib), 4600 SAT, and 4400 SAT (100-day MA).

On the other side, the first resistance lies at 5600 SAT. This is followed by 5800 SAT, 6000 SAT, and 6200 SAT.

Solana

SOL is down a steep 13% this week as the coin currently trades around $135. The cryptocurrency has been trading inside a descending price channel since the first week of September and must break the boundary to end the current negative trend.

SOL dropped beneath $140 on Monday and continued lower until support was found at $123 (downside 1.272 Fib Extension) on Tuesday. It rebounded from there on Wednesday but rolled over today after meeting resistance at the upper angle of the price channel.

Looking ahead, the first support lies at $123 (downside 1.272 Fib Extension). This is followed by $119 (.5 Fib Retracement), $112 (downside 1.414 Fib Extension), $110 (50-day MA), and $100.

On the other side, the first resistance lies at $150 (upper angle of the price channel). This is followed by $160 (20-day MA), $180, and $200.

SOL is currently in a phase of consolidation against BTC as it trades sideways between 0.0035 BTC and 0.003 BTC. The coin found support at 0.003 BTC on Tuesday and bounced higher on Wednesday to meet the resistance at the 20-day MA, beneath 0.0035 BTC.

It ended up rolling over from there yesterday to find the support at 0.00315 BTC (.382 Fib) today.

Looking ahead, the first solid support lies at 0.003 BTC. This is followed by 0.00288 BTC (downside 1.414 Fib Extension), 0.00267 BTC (.5 Fib Retracement), 0.0025 BTC, and 0.00233 BTC (50-day MA).

On the other side, the first resistance lies at 0.0035 BTC (20-day MA). This is followed by 0.00367 BTC (1.272 Fib Extension), 0.004 BTC (1.414 Fib Extension), and 0.0043 BTC (1.618 Fib Extension).

Avalanche

AVAX is up by a small 3% this week as the coin sits around $70. The cryptocurrency actually managed to set a new ATH price at $80 this week after finding support at the 20-day MA (around $55) on Monday.

It held the $55 support on Tuesday and exploded on Wednesday to hit $75. The new ATH was set on Thursday, but AVAX has since rolled over to fall to $70 today.

Looking ahead, the first support lies at $68.55 (.236 Fib). This is followed by $65, $61.67 (.372 Fib), $60 (20-day MA), and $56.10 (.5 Fib).

On the other side, the first resistance lies at $75. This is followed by $80, $85.45 (1.618 Fib Extension), $90 (1.618 Fib Extension – orange), $92.30 (1.414 Fib Extension – blue), and $100.

AVAX is also performing well against BTC after setting a new ATH on Thursday at 0.0018 BTC. The coin fell beneath support at 0.0014 BTC on Monday but managed to hold support at 0.0013 BTC on Tuesday.

It rebounded from there and ended up breaking the previous 0.0016 BTC ATH on Wednesday. Yesterday, it spiked higher to reach the new ATH at 0.0018 BTC but has since dropped back to 0.0017 BTC.

Looking ahead, the first resistance lies at 0.0018 BTC. This is followed by 0.00185 BTC (1.272 Fib Extension), 0.0019 BTC, 0.00197 BTC (1.414 Fib Exnteison), 0.002 BTC, and 0.0021 BTC.

On the other side, the first support lies at 0.0016 BTC. This is followed by 0.00155 BTC (.236 Fib), 0.00138 BTC (.382 Fib), 0.0013 BTC (20-day MA), and 0.00125 BTC (.5 Fib).

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Cryptocurrency has been making headlines in recent years as a viable means of earning and investment. Most people in the crypto community are either traders or investors. This means that they buy coins or tokens at a lower price and wait for their value to increase before they can make a profit.

However, you can earn cryptocurrencies without having to put money down for it. If you don’t have large funds to trade or invest in cryptos, you should consider mining. On this page, you’ll discover a list of the best cryptocurrencies to mine in 2021.

Before you go ahead, you should check out CoinList, where you have access to the most cutting-edge crypto innovations while also assisting the most significant crypto projects to grow and thrive.

RavenCoin is one of the most profitable coins to mine in 2021. Bram Cohem invented this coin and launched it on January 3rd, 2018. It was created to handle the efficient creation and transfer of assets from one party to another. Thanks to its KAWPOW protocol and X16R algorithm, you can easily mine RVN on your mobile device or personal computer. It also operates with the same asset transmission system as Ethereum and Bitcoin blockchain.

To start mining RVN, you need to create a wallet and generate a wallet address where you can deposit your RVN. Then proceed to select a mining pool. Blocksmith, Bsod, and Cruxpool are excellent platforms to begin your RVN mining.  

Monero has attracted a lot of attention from investors and miners because of its exceeding takeoff. Its value escalated from $10 in January 2017 to $494 in January 2018. This coin operates on the CryptoNote system, which emphasizes the importance of equity in crypto mining.

With a market capitalization of more than $3 billion, Monero is regarded as one of the most profitable cryptocurrencies to mine in 2021. It has an unlimited supply and uses the RandomX hash algorithm as its hash function. That’s why it has an impressive unique block time of 2 minutes.

3. LiteCoin (LTC)

Litecoin is a peer-to-peer cryptocurrency project that is distributed under the MIT/X11 protocol. The developers of this coin adapted the programming from Bitcoin’s system. But he improved the transaction speed, thus reducing its gas fee.

Litecoin is one of the older names in the crypto community. Mining it for profit is never a bad idea since it’s globally accepted as a seamless means of payment. LTC employs SCRYPT protocol, which eliminates the need for ASIC devices for mining.

Cardano is a formidable cryptocurrency with a bright potential ahead of it. This coin has a flexible network and executes transactions at the speed of light, ensuring a smooth user experience. Cardano mining is a little different from the common practice. Instead of using hardware to generate the assets, Cardano blockchain uses the Proof-of-Stake system to validate blockchain transactions.

The good news is that this programmable blockchain has the potential to outperform Ethereum and Litecoin. Additionally, Cardano can also be used as a platform for other digital currencies and applications.

5. Ethereum Classic (ETC)

Ethereum Classic is popular in the crypto world. This digital asset aims to keep the Ethereum blockchain intact. It was launched in July 2016, but its performance in the past two years has made it an excellent option for mining.

Mining ETC is relatively easy. All you need to do is get efficient mining hardware and software, create a wallet address, and start mining. GPU mining machines are the best hardware for this purpose. GMiner and NBMiner are popular softwares to try. The unique thing about ETC is that it has a shorter block time compared to other altcoins. Its block time is roughly 13 seconds.

Dogecoin is a popular cryptocurrency with the dog logo. Billy Markus and Jackson Palmer created this coin in 2013 as a meme-inspired joke, but five years later, Dogecoin has gone far ahead of most altcoins. It has broken numerous records and shows no signs of slowing down.

It employs the Scrypt algorithm, which is comparable to Litecoin in that it does not allow users to add Doge to their portfolio by purchasing expensive devices. Meanwhile, you can use a GPU/CPU to ensure its efficient performance and make mining seamless.

7. Monacoin (MONA)

Just like Dogecoin, Monacoin is a meme coin with a seemingly active community in Japan. The cryptocurrency was developed in 2013 by an anonymous individual under the alias Mr. Watanabe. However, this project that started as a joke has become a serious commodity offering reasonable earning potential for miners and investors.

The good thing about this cryptocurrency is that miners do not need ASIC devices to earn. Unlike other coins, mining MONA requires very little capital. Mining a block and qualifying for a reward usually takes less than 2 minutes.

When mining cryptocurrencies, you must consider your mining device’s hash rate, electricity costs, and network range in your location. Mining profitability is highly dependent on these factors.

Meanwhile, if you are looking for where to access the best new tokens before they get listed on other exchanges, Coinlist is the ideal place to check. It’s a reliable platform for new cryptocurrency offerings.

Despite a weakening dollar, the top altcoin was unable to clear above the $3,300 resistance. The price of ether needs to remain above $3,140 in the near future to prevent further downsides.

In response to Jerome Powell’s announcement that the Federal Reserve would hike rates slower than expected, the dollar stagnated around multi-week lows.

There will be U.S. jobs numbers on Friday, which could provide insights as to when the Fed will start tapering. Ethereum faces strong resistance near $3,280 and $3,300. In the hourly simple moving average, the price currently sits below $3,200 at the time of writing this report.

The cryptocurrency once again tried to break above $3,260 and $3,280. In comparison to bitcoin, ether’s price failed to move higher above $3,280 and started declining.

Ether could continue declining if it does not gain traction above $3,220 and $3,200 resistance levels. Immediately below $3,150, there is a support.

In the near future, a major support zone will form around $3,140. Below $3,140, the downside break could accelerate losses. According to the scenario, ether prices might return to $3,060

The network upgrade, which will cause ETH transaction fees to be destroyed instead of being handed to miners, has cost just over $400 million in burned ETH so far. There is a burning of approximately 200 ETH every hour.

By Sunday, over 124k ETH had been drawn from circulation by the Ethereum blockchain.

The EIP-1559 update, which burns ETH, became effective on August 5. Ethereum 2.0 is envisioned as an evolution of Ethereum that stabilizes transaction fees and speeds up the switch to Ethereum 2.0 from Ethereum 1.0.

This article was originally posted on FX Empire

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All eyes should have been on Bitcoin as the king coin leapt past $51,000 and marked its highest price since mid-May. Yet, behavior analysis platform Santiment showed the Bitcoin discussion rate had dropped. The reason? Short-term traders were busy watching the trending alt coins.

— Santiment (@santimentfeed) September 6, 2021

Solana’s dazzling rally as it crossed $100 and kept rising, mesmerized many traders. On the other hand, Bitcoin was struggling to break out and cross the $50,000 resistance.

Santiment also noted that Polygon [MATIC] and Cardano [ADA] were leading in the “rising topics” metric. Matic was the talk of town thanks to its 31% price rally in four days. Meanwhile, Ada was in the news due to the FUD after Cardano’s alleged testnet “failure.”

📌 $MATIC: a major surge in price, up 31% in the last four days 📌 $ADA: crowd #FUD about the capability of its integration with smart contractshttps://t.co/lnloXAkAat pic.twitter.com/rKeMu2zw5J

— Santiment (@santimentfeed) September 5, 2021

Fighting Human Nature

Fear of missing out (FOMO) can provoke investors to make dangerous financial choices or fall prey to pump-and-dump scammers. In this case, FOMO could have prompted traders to watch alt coins emerging in the space, after Santiment’s Bitcoin Weighted Sentiment value dropped below zero.

Another reason for the fresh eyes on alt coins could be influencers like Charles Hoskinson. Cardano’s founder has a strong social media presence and vocally responds to those he calls “FUDsters.” Coming to Matic, the Indian film studio Zee Studios launched its first NFT on Polygon. Such events also could have the potential to trigger crypto FOMO and attract short-term traders.

Seeing Bitcoin in Perspective

On 6 September, on-chain analyst Willy Woo tweeted the growth trajectory of Bitcoin and compared it to the growth of gold and stocks [M2 money]. When graphed on the same scale, the effect was stunning.

— Willy Woo (@woonomic) September 6, 2021

Woo’s analysis helped many put Bitcoin’s seemingly lethargic growth into perspective. Another analysis by him, using the supply shock valuation model, put the current price of Bitcoin above $55,000. Furthermore, Bitcoin stock-to-flow creator Plan B confirmed that his estimate of “$100K by Christmas” was still valid.

At press time, the price of Bitcoin was $51,838.52. The last update from the Bitcoin Fear and Greed Index recorded a value of 73, signaling “Greed.” As Bitcoin hodlers wait out the fall season, Santiment’s metrics suggested that more traders might be focusing on the alt coin market.

The z0Miner cryptojacker is now weaponizing a new Confluence vulnerability to mine for cryptocurrency on vulnerable machines. 

© Image via PIRO4D

Trend Micro researchers said on Tuesday that the cryptocurrency mining malware is now exploiting a recently-disclosed Atlassian Confluence remote code execution (RCE) vulnerability, which was only made public in August this year. 

Tracked as CVE-2021-26084, the vulnerability impacts Confluence server versions 6.6.0, 6.13.0, 7.4.0, and 7.12.0. 

Issued a CVSS severity score of 9.8, the critical security flaw is an Object-Graph Navigation Language (ONGL) injection vulnerability that can be exploited to trigger RCE -- and is known to be actively exploited in the wild. 

The vulnerability was reported by Benny Jacob through Atlassian's bug bounty program.

z0Miner, a Trojan and cryptocurrency mining bundle, has been updated to exploit the RCE, as well as Oracle's WebLogic Server RCE (CVE-2020-14882) an ElasticSearch RCE (CVE-2015-1427), Jenkins, and other code execution bugs in popular server software.  

Once a vulnerable server has been found and the vulnerability has been used to obtain remote access, the malware will deploy a set of webshells to install and execute malicious files, including a .dll file disguised as a Hyper-V integration service, as well as a scheduled task that pretends to be a legitimate .NET Framework NGEN task. 

The task will attempt to download and execute malicious scripts from a repository on Pastebin, but as of now, the URL has been pulled. 

These initial actions are aimed at maintaining persistence on an infected machine. In its second-stage payload deployment, z0Miner will then scan and destroy any competing cryptocurrency miners installed on the server, before launching its own -- a miner that steals computing resources to generate Monero (XMR).

A patch has been released to resolve CVE-2021-26084, and as threat actors will always seek to exploit new bugs for their own ends -- the Microsoft Exchange Server attacks being a prime example -- vulnerable systems should always be updated with new security fixes as quickly as possible by IT administrators.

Previous and related coverage

170 Android cryptocurrency mining scam apps steal $350 000 from users

Does cybercrime impact cryptocurrency prices? Researchers find out

Thousands of PS4s seized in Ukraine in illegal cryptocurrency mining sting

Have a tip? Get in touch securely via WhatsApp | Signal at +447713 025 499, or over at Keybase: charlie0

The billionaire-backed crypto exchange, Bullish, faces scrutiny after new reports reveal an alleged ‘price pump’ scheme. 

In 2019 Block.one received an SEC fine as a consequence for not registering an ICO for EOS. Initial sales for EOS over the first 11 months raised over $4 billion, which made it one of the largest to date. A sale this large naturally raised many eyebrows in the crypto community.

Block.one is a software developing firm. A slew of billionaires and big names in the industry are the funders of the company. This includes the likes of Peter Thiel, hedge fund moguls Alan Howard and Louis Bacon, and entrepreneur Christian Angermayer.  Its mission as a company was initially for the development of innovative tools for blockchain adoption. 

Block.one reexamined

However, it soon fell into steamy controversy. Following the SEC fine, users sued Block.one, calling the sales a “fraudulent scheme” that didn’t follow through on its mission. 

Now, recently published reports reveal new information on those previously raised concerns regarding the situation. The report comes from Integra FEC, a forensic financial analysis firm, led by the University of Texas at Austin McCombs School of Business finance professor John Griffin.

The paper highlights a series of questionable trades during the EOS ICO. According to Griffin, the patterns between two potentially connected persons appeared to “pump” the price of EOS. 

“The seemingly artificial demand from the suspicious accounts had two effects,” he wrote. “It directly manipulated EOS’s offering price upward through the extra buying and inflated the market value of the token. Second, it created the false impression of the value of the token, which enticed others to want to purchase the ICO token.”

The information comes as Block.one prepares for the launch of its new exchange dubbed Bullish. Allegedly, Bullish will receive funds stemming from the ICO sale, which now is under scrutiny once again. 

Identifying the holes

Griffin’s report targets 21 accounts over the course of the ICO. All the accounts appeared consistent with massive purchases of EOS. Additionally, all of those accounts then sold the currency to exchanges all within an hour. In the crypto industry, the name for this is “recycling.” The total of these trades equaled almost $815 million. 

In defense of his research, Griffin explained how the fixed supply of tokens for purchase “buoyed” the price. “Selling through the exchange could have minimal impact on the price, especially since it can be sold slowly and in a liquid market,” Griffin explained. “Market makers make a spread and make money on the spread,” he said. “These traders consistently lost money on their trades. Why would one engage in a losing strategy unless making money somewhere else?”

In a comment to Bloomberg, Cornell Law School Professor Robert Hockett called the analysis “impeccable.” Hockett specialties in corporate law and financial regulation. 

“There’s enough smoke here to suggest there’s a fire. This is what the SEC would call classic fraud and pump and dump. This is taking advantage of retail investors who don’t know what’s going on underneath and could be easily fooled.” Hockett believes that the SEC should definitely be investigating. 

According to the Cornell professor, if the findings are true this could mean big consequences. It would violate the Securities Act of 1933 and the Exchange Act of 1934.

This comes at a time of heightened attention to the crypto space from the SEC. However, the SEC reportedly had no comment on this case at the moment. 

This story was seen first on BeInCrypto

Bitcoin prices have had a tumultuous couple of days, plunging to their lowest in almost a month yesterday before recovering, and then dropping again today.

The cryptocurrency fell to $44,457.11 close to 4 a.m. EST, before bouncing back and approaching $46,800 around 7 a.m. EST, CoinDesk figures show.

The digital asset experienced these price fluctuations after suffering a flash crash yesterday where it declined below $43,000, additional CoinDesk data reveals.

The price of bitcoin experienced the aforementioned crash the same day that El Salvador embraced bitcoin as legal tender.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Following these sharp price movements, several market observers offered technical analysis, shedding some light on the key levels of support and resistance that bitcoin might encounter next.

Jake Wujastyk, chief market analyst of TrendSpider, weighed in.

“The first thing to note is that while price has been very volatile the last few days, the pullback was to a known level - the Anchored VWAP from the All Time High,” he stated.

Wujastyk offered some clarity on the Anchored VWAP, noting that “it shows a Volume Weighted Average Price from a particular starting point (the anchor point.)”

“It is almost uncanny how accurate the Anchored VWAP has been for Bitcoin,” he stated.

“Price pulled back directly to it, and then stopped declining. It may break through it and that would be bearish, but for now, bulls should find this to be encouraging.”

“Note that price also struggled very hard with the $50-52K range. This is resistance (selling pressure).”

“But there is also support in the $40-42K range. It is possible that price will oscillate in this range for some time before really making a move.”

He summarized his input, offering an optimistic take.

“Taking this analysis together, I would say the winds are still at the back of Bitcoin bulls, for now.”

“If price fails to stay above $42K~ (where the All Time High anchored VWAP is located) or Anchored OBV goes red, then I would start to get nervous. Until then, I'm bullish.”

Jon Pearlstone, publisher of the newsletter CryptoPatterns, also chimed in.

“Bitcoin has key support at the $42,500 level, as long as that holds, the bulls have the edge,” he stated.

“If yesterday's drop was the start of a steeper correction, traders should watch for a fast drop down to test support levels of $37,500 and even below $35,000 if $42,500 does not hold.”

“The bullish case here would see consolidation between $42,500 and $47,500 then a convincing break of $50,000 on the way to a retest of all time highs at $65,000.”

Nick Spanos, cofounder of Zap Protocol, offered a more cautious take.

“Bitcoin’s fall to $42,483 on Tuesday and its subsequent bounce to over $47,000 confirmed the $43,900 region as a key support level,” he stated.

“However, despite this bounce and Bitcoin’s longer-term outlook still looking positive, it should be noted that further falls could be on the way, as the RSI has fallen below 50 and the moving average convergence divergence (MACD) is almost negative.”

“The latter indicates that the 12-day EMA is below the 26-day EMA, suggesting that bearish momentum is building.”

“The significance of the RSI falling below 50 cannot be understated, as the RSI’s crossing above 50 in July was the beginning of Bitcoin and the broader crypto market’s recent bull run.”

He added that “near-term BTC resistance lies at $47,000; if this level is breached, Bitcoin will re-test the $50,000 barrier.”

Collin Plume, CEO and founder of My Digital Money, described bitcoin’s recent price movements as being ordinary volatility.

“Bitcoin has a 20-day moving average North of $47K and a 200-day moving average North of $42K. That tells me that Bitcoin breaking the $50K to drop at $43K is still within what I would consider an ‘average price movement’ as it still lands within my tolerance level.”

“A double-digit drop is fatal for many traditional investors but it is important to understand that Bitcoin is not a traditional asset.”

“A $5000 gap between a short-term and long-term is solid proof that Bitcoin's swings, although drastic to many, is the nature of the beast.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

…

New research has shed more light on the crypto industry’s largest-ever token sale, alleging that foul play may have been afoot during EOS’ initial coin offering (ICO) four years ago.

Researchers from the University of Texas have raised fresh concerns regarding Block.one’s record $4.362-billion ICO for the EOS blockchain in 2017 and 2018. The highly-anticipated project was backed by industry heavyweights, including PayPal co-founder Peter Thiel, alongside billionaire hedge fund managers Alan Howard and Louis Bacon. The research does not accuse Block.one itself of any wrongdoing, and the company has cited a report stating there was no evidence it was involved.

On Tuesday, professor John Griffin of the Austin McCombs School of Business and financial analysis firm Integra FEC published their findings in a paper titled “Were ETH and EOS Repeatedly Recycled during the EOS Initial Coin Offering?” — alleging that wash-trading played a key role in EOS’ price discovery.

According to the paper and outlined in an investigation by Bloomberg, EOS was allegedly wash-traded on the Binance and Bitfinex cryptocurrency exchanges in an effort to artificially inflate the prices. Wash-trading describes the process where an entity simultaneously acts as the buyer and seller for the same asset to artificially bolster volume or manipulate prices.

Griffin wrote that artificial demand from suspect accounts created the illusion of demand for the token and pushed prices up:

“First, it directly manipulated EOS’s offering price upward through the extra buying and inflated the market value of the token. Second, it created the false impression of value of the token which enticed others to want to purchase the ICO token.”

The research allegedly identified 21 accounts that recycled EOS tokens during the ICO. Funds identified as suspect amounted to 1.2 million Ether (ETH) worth around $815 million at the time. Ether was the sole cryptocurrency used to buy EOS during the year-long ICO.

The analysis claims that Ethereum accounts were created in order to repeatedly purchase EOS over time. It claims that a “significant portion” of the Ether raised during the token sale appears to have been “recycled by transferring the ICO contributions through a series of obfuscating intermediary accounts and finally arriving at Bitfinex.”

“2.895 million Ether ($1.721 billion USD), or 39% of the Ether raised in the crowdsale, are also traced from the ICO crowdsale wallet back to Bitfinex.”

Griffin did not identify the owners of the accounts or point the finger at Block.one regarding the alleged wash-trading but noted, “These suspicious accounts accounted for almost a quarter of EOS purchases by the end of the crowdsale.”

Robert C. Hockett, professor of law at Cornell Law School, said that he worked for more than one month on the story alongside media outlet Bloomberg, which published its findings on Thursday.

According to Bloomberg, Block.one responded to the paper by referencing a July document authored by law firm Clifford Chance LLP that asserted there was “no evidence that Block.one purchased tokens on the primary up Darling EOS Cashes In Millions Of ETH As ICO Scorn Continues

The same John Griffin published a paper in October 2019 titled “Is Bitcoin Really Un-Tethered?” that claimed the leading stablecoin Tether (USDT) was wash-traded to influence Bitcoin (BTC) prices during the 2017 bull market. Speaking to Cointelegraph in February 2020, the firm behind Tether, iFinex, labeled the claims “reckless and false.”

Manipulation or otherwise, EOS has largely fallen out of favor with crypto traders and investors. Since ranking among the top five crypto assets by market capitalization in mid-2018, EOS has since tumbled to rank 35th.

The token is currently trading for $5, down 77% from its April 2018 all-time high of $22.70.

The reversal in the market sentiment towards cryptocurrencies has powered a surge in Cardano (ADA), sending it back to the third position based on market capitalization, after it slipped down to the fourth rank earlier this week. At the time of writing, ADA/USD is trading at around $2.23.

Rising Adoption, Upcoming Cardano Summit Support

While the bullish reversal was triggered by an uptick in risk sentiment across global financial markets, Cardano’s surge received enough support from numerous fundamental developments as well. One of the most notable is the blockchain’s SundaeSwap reciving funding from Double Peak Group which joins other players like Alameda Research, cFund.vc and Darrenlautf in raising $1.3 million in seed funding for Cardano’s first decentralized token exchange.

The ADA token turns even more attractive as an investment over news reports about Cardano’s first DeFi ecosystem P2P Finance entering a strategic partnership with Charli3 – the blockchain’s first decentralized oracle network. This agreement will enable P2P Finance to provide data from real world price feeds in a secure and scalable manner without worrying about market volatility affecting data accuracy anymore.

Meanwhile, buzz around the upcoming Cardano Summit could also keep ADA supported in the coming sessions as investors eagerly look forward to announcements about new collaborations and projects the Cardano Foundation could announce at the event. The summit will also serve to heighten engagement among the blockchain’s community of users through various promotional events, news announcements, exclusive content and even limited edition NFTs up for grabs.

Institutional interest in Cardano could also be driven higher by news of 21Shares – a global leader in cryptocurrency ETPs, announcing a new Cardano ETP being listed on Deutsche Bourse XETRA. The Cardano ETP (ADA) is slated to be Europe’s only traded Cardano ETP and should increase investor confidence in the cryptocurrency in the coming sessions.

Key Levels to Watch

Technical analysis of the 4-hour price chart of ADA/USD reveals a bullish bias among the smaller moving averages and leading technical indicators MACD and momentum. However, the larger MAs as well as the Stochastic are showing some interest among sellers at the moment too.

Cardano’s price is sitting above the support at $2.16 but has some catching up to do to get to the pivot point at $2.37. If the buying pressure increases, we could see the price surge past this level, following which the focus will shift to the immediate resistance at $2.49.

Moving average in the field of finance — including cryptocurrencies — is a stock indicator commonly used by investors for technical analysis. Among the most important reasons for the calculation of a moving average is to mitigate the impact of sometimes random or short-term fluctuations in the prices of any stock — and cryptocurrencies are especially prone to extremes. The other reason, of course, is to constantly update the average price of a stock for a selected period of time. It is also referred to as a lagging indicator as it is based on the past prices of a given stock. 

And just like it is used for any other stock, moving average also helps an investor analyse the trend of a cryptocurrency not just in the present but also the future by making use of the past prices. In simple words, it gives investors have a better picture of what they are going to make on their investments should they invest in a particular digital currency. 

How to calculate a moving average for cryptocurrencies? 

The method is fairly simple. It's the application that's more important. For example, if you want to calculate the five-day moving average for Dogecoin, this is how you do it: 

The closing prices of Dogecoin in the last five days, let's say, were 10, 13, 14, 11, and 12, respectively. Now, add the prices for the last five days and divide the total by 5. 

10+13+14+11+12 = 60/5. The answer is 12, which is the moving average of Dogecoin relative to the last five days. 

Dogecoin price in India stood at Rs. 22.7 as of 3:30pm IST on September 3.

Importance of moving average in cryptocurrency investments 

Experts say that when the prices of a stock are below a moving average, it's an indication to traders of a bearish trend, which means both price and sentiments are trending down. On the contrary, if the prices are above the moving average, it's a sign of a bullish trend. However, other indicators, including the relative strength index, should also back the moving averages. 

Among other important functions, a moving average can also help gauge the momentum, which basically measures the rise or fall in the prices of a cryptocurrency. With the help of a moving average, one can attempt to forecast, if not accurately pick and predict, the trajectory of a cryptocurrency in the days to come. This helps an investor better decide if they are making a safe and sound investment. 

As we explained before, the greater the number of days the bigger is the lag. The traders actually use these figures based on the number of days to decide on whether or not they should invest in a digital asset or a cryptocurrency token.  

The other advantage, of course, for traders in terms of calculating a moving average is that they can customise the time period to check the average prices according to their own needs. Moving average for a smaller period is naturally more price-sensitive compared to an average calculated for a longer period of time. 

Remember, the moving average is only an indication of the trend and not a tool that sets the trend. You only get a picture of how a cryptocurrency token has performed relative to the number of days you pick to find the moving average. Cryptocurrency is deemed to be a relatively riskier asset class and the golden rule, as experts say, is to not invest more than you can afford to lose. 

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A widely followed crypto strategist and trader says Solana and two other altcoins are poised to print new all-time highs while predicting the bottom for two other crypto assets.

Pseudonymous trader Smart Contracter predicts that smart contract platform Solana is gearing up for another explosive price surge en route to a new all-time high.

“SOL all-time high (ATH) baby let’s go. $300 coming up.”

Smart Contracter’s prediction is based on his analysis that Solana will follow the footsteps of Binance Coin when it rallied from about $50 at the start of the year to an all-time high of $691.

“If SOL follows the run BNB had, it can go to $900.”

Another coin on the trader’s radar is Ethereum competitor Avalanche (AVAX), which he says is poised for a big move after ending its corrective phase.

“This should be the run to ATH, as enough longs are shaken out and all focus is back on SOL. I suspect $100 or 130% from here should be fairly easy.”

Next up is Synthetix Network Token (SNX), a cryptocurrency that powers the trading of synthetic assets. According to Smart Contracter, SNX is nearly done with its accumulation phase and is ready to launch its uptrend.

“I also think SNX bottomed and going to ATH from here clean ABC down on daily from March highs. Clear 1-2 basing/accumulation structure might need more time to accumulate but decentralized finance (DeFi) should catch a bid in the next few weeks.”

The crypto analyst relies on the Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology that manifests in waves. According to the theory, a bull cycle goes through five distinct waves. Based on Smart Contracter’s five-wave count, SNX can soar to as high as $35, representing an upside potential of over 230% from its current price of $10.50.

As for the crypto strategist’s bottom picks, Smart Contracter is keeping an eye on Curve (CRV), the governance token of stablecoin decentralized exchange Curve Finance. According to the crypto analyst, CRV is showing signs that is ready double its value against the US dollar, Bitcoin and Ethereum.

“A lot of hate for DeFi right now because it has underperformed, but major weekly SFP (swing failure pattern)/reversals forming on the BTC and ETH pairs for CRV.”

The last coin on the trader’s list is blockchain scaling solution Polygon (MATIC), which he says is primed to reverse its bearish trend and climb as high as $2.50.

“Need lower timeframes to confirm but probably, more than likely, that was the bottom.”

The general mood across the cryptocurrency market is one of anticipation on Sept. 17 as the price of Bitcoin has traded in an increasingly tighter range over the past couple of days and looks to be coiling in preparation for a move one way or another. 

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has oscillated between $47,150 and $48,150 in trading on Friday as the lack of any major developments or headline-grabbing stories has led to a relatively flat day in the markets.

A recent report from Delphi Digital suggested that last week’s sudden drop in Bitcoin price caught the market off-guard and led to a significant drop in market sentiment from greed to fear, and BTC's price performance over the past week has been been a response to that as traders cautiously re-engage the markets. 

Here’s what analysts and traders are saying about the recent price action from BTC and what to keep an eye on as the market heads into the weekend.

Bull flag forms on the 4-hour chart

A positive take on Bitcoin’s price action was provided by the pseudonymous Twitter user 'Pentoshi', who posted the following tweet highlighting the formation of a bull flag on the 4-hour chart and a subsequent retest of a major support and resistance level at $46,800.

— Pent◎shi Wont DM You (@Pentosh1) September 17, 2021

As mentioned by Pentoshi, there are several upcoming developments that could lead to further bullish momentum in the market, chief of which is the growing list of Bitcoin ETF applications that must be ruled on by the United States Securities and Exchange Commission (SEC).

Pentoshi also suggested that should a breakout occur that manages to recapture the point of balance (PoB) at $49,380, that could be a signal that the market is about to go on a run, making it an important level to keep an eye on.

Bitcoin is "playing mind games" with the market

Further insight into Bitcoin’s price action on lower time-frame charts was provided by crypto Twitter trader 'Crypto_Ed_NL', who described the recent moves from Bitcoin as “playing mind games” with the market.

As highlighted in the chart provided, the price of BTC is consolidating below $48,000 now and has yet to provide signs of continuation, indicating caution for traders as a breakout higher is not a guarantee.

That being said, Crypto_Ed_NL doesn’t think that this latest price pullback is “how we start a bigger move down,” hinting at the possibility of a potential move higher in the near future.

Related: Next stop $85K for Bitcoin as analysts predict ‘explosive’ Q4 for BTC price action

Bitcoin on track to close at a higher weekly low

Analysis of Bitcoin’s price action on the higher weekly time-frame chart was provided by cryptocurrency analyst and pseudonymous Twitter user 'Rekt Capital', who indicated that Bitcoin is on track to having a favorable weekly close with a new weekly higher low if can manage to stay above $46,300.

There is a well-defined support and resistance level near $48,930 that was the source of the current struggle to break out higher, and for now, BTC looks as though it will continue to consolidate in its current range.

The overall cryptocurrency market cap now stands at $2.129 trillion and Bitcoin’s dominance rate is 42.1%.

Ethereum (ETH) has been one of the most reliable performing cryptocurrencies of 2021. This article, Ethereum price prediction 2021, is about its technical analysis.

Being one of the most grown players in the crypto field, Ethereum has developed trusted credibility among enterprise businesses. Its protocol’s real-world applications have also covered 11 significant categories that enterprise businesses could be interested in. And Ethereum’s massive community of developers, which works on the blockchain’s protocol developments, could be considered by enterprise businesses as a technological advantage.

As the second-largest crypto behind Bitcoin, Ethereum has set itself in the crypto market over the past couple of years. With extraordinary blockchain technology and powerful community backing, the future looks incredibly glorious for Ethereum.

In this article, we will review Ethereum Price Prediction in detail. Ethereum forecasts for the future will be divided down in-depth, with some additional analysis.

Let’s start with knowing it and how Ethereum came into being?

What is Ethereum (ETH)?

 Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform. Amongst cryptocurrencies, it is second only to Bitcoin in market capitalization. Ethereum was conceptualized in 2013 by programmer Vitalik Buterin and the platform being formally launched in 2015,

The platform enables anyone to use permanent and immutable decentralized applications onto it, with which users can interact. Decentralized finance (DeFi) applications give a broad array of financial services without the requirement for typical financial intermediaries like brokerages, exchanges, or banks, such as allowing cryptocurrency users to borrow against their holdings or lend them out for interest.

Ethereum also provides for creating and exchanging NFTs, which are non-interchangeable tokens connected to digital works of art or other real-world items and sold as unique digital property.

What’s the Ethereum price in September 2021?

After falling to $2835 in the last 24 hours, Ether is once again making profits. And it is continuously gaining its exchange price. As of September 24, 2021, the price of Ethereum (ETH) is currently sitting at $3,084 – up by more than 5% over the past 24 hours, according to CoinMarketCap.

The reason behind the rise In Ethereum price

The main reason behind the increase of Ether is the announcement by Robinhood Markets Inc. Robinhood said that it allows buying, selling, and holding specific cryptocurrencies like Bitcoin, Ethereum.

Added to it, Brazilian bank BTG Pactual approved investing in BTC and Ethereum. The bank launched a new platform called Mynt that allows BTG Pactual Digital and BTG + clients to trade directly with the cryptocurrencies Bitcoin and Ethereum.

It was down 26% since its all-time high of $4,168.70 on May 10, 2021.

However, it’s up by $775 on January 1, suggesting it has rocketed by around 300% since the beginning of the year.

But there’s no assurance the price of Ethereum will increase this much again – or even that it will rise at all as cryptocurrencies are highly volatile.

Before Ethereum started rising this year, its previous all-time high was on January 14 in 2018, when it hit $1,291.92.

History of Ethereum Price in 2021

If you are looking to buy Ethereum, it’s a good idea to understand the digital currency and how the price has come at the current point. Researching these factors is known as doing your ‘due diligence and is crucial in the investment process.

Firstly, we will explore what Ethereum is to give a comprehensive overview, after which we will jump into the current Ethereum price for further analysis.

The first thing to see is that Ethereum (ETH) is not the real ‘currency’ per se – in fact, Ethereum is the blockchain platform in which the currency Ether can be utilized. This may seem not very clear, but most of the time, the terms are used interchangeably.

People choose to invest in Ethereum rather than buy Bitcoin because of Ethereum’s practical uses. The platform allows decentralized applications (dApps) to be run, which provide safer and more strange ways of conducting various services. These dApps have become increasingly popular in decentralized finance (DeFi) projects, which have helped remove the need for intermediaries such as banks and brokers.

Over the years, Ethereum has developed immensely as more and more people recognize the platform’s potential. However, ETH price only began taking off at the beginning of 2021, when the hype around crypto reached a fever pitch. Between the start of the year and mid-February 2021, Ethereum’s price grew by an exceptional 166%

However, the Ethereum price live then took a tumble and consolidated until late-March 2021, when a bull run commenced that saw Ethereum rally 180% to reach all-time highs of $4381. This described an increase of 496% since the start of 2021. At this point, market critics were optimistic that Ethereum could go as far as it wanted, however, this was not to be.

Ethereum’s price fell by around 60% in May 2021, which was not actually due to situations directly linked to them. China’s crypto regulation drastically impacted the crypto market, which banned financial and payment companies from providing crypto services.

This was a huge shock to the crypto ecosystem and prompted most major altcoins to drop significantly.

This fall lasted until July 2021, when Ethereum started showing some bullish momentum over the short term. Price has increased by around 86% during July and August, highlighting the incredible positive speed that this crypto asset has revealed.

Ethereum’s price is showing no signs of staying at the time of writing, inspiring many to believe that all-time highs may be met once again.

Experts Take on ETH Price Prediction

The more, the happier, and so the more the experts’ crypto rating, the more the opinions for the Ethereum price predictions:

According to our ETH price prediction, the coin might cross $2700 price mark by the end of 2021. The maximum price might be around $2777 and the minimum around $1900. The average price of Ethereum for December 2021 might be about $2750.

Trading Beasts

Based on our Ethereum price predictions, a long-term increase is expected, the price prognosis for 2026 is $11200.20. With a 5-year investment, the revenue is expected to be around +331.37%.

Wallet Investor

By the time 2024 approaches, we can see ETH resting at the mark of $6481 as per our ETH price prediction.

Digital Coin Forecast

By the end of 2021, the ETH price might be $2467. Maximum price $3062, minimum price $2467. The average for December 2021 will be around $2715. Ethereum price forecast at the end of the month $2862, change for month 16.0%.

Long Forecast ETH Price Prediction from 2021 to 2025

In the last year, Ethereum has brought past investors well over 450% returns before the onset of a new year. As per Ethereum price predictions, ETH is an especially great asset for investment compared to Bitcoin and for traders who can take advantage of these price swings for the short and long term and let us know what industry experts forecast for the investment of the next five years:

Ethereum Price Prediction 2021

As per the current price momentum, Ethereum might reach much higher levels by the end of 2021 as it has already crossed the all-time high on May 12, 2021, at $4,362.35.

Having witnessed a huge dapp adoption that made the price action of ETH crypto. Also, an update called ETH 2.0 having been launched in phases, which is a further extension to ETH.

As per our calculations, this will push the network’s scalability to 1,00,000 transactions per second, moving the blockchain from energy-intensive POW to POS. The network is super successful, with numerous projects built on it.

Ethereum Price Prediction 2022

With Partnerships and alliances and community funding, the market looks back at ETH crypto to perform, reaching a level of $3400, which is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Ethereum Price Prediction 2023

With any changes in policies and regulations, Ethereum may too have its share of hazy days. IfEther crypto holds the support level around a long-term moving average of 200 days firmly. In that case, buyers will then have ample time and stability to forge the next attack mission on the vital level at $4100, making it not plummet but play consistently.

Ethereum Price Prediction 2024

As per the latest news updates, technical upgrades, ETH price prediction, and new project forecasts of the platform, we expect many partnerships and integrations around 2024. This might boost the price of ETH in the crypto market, and it will be the best investment as the price can reach around $5200. However, if the ETH price face reversal, it might trade around its crucial support of $4900.

Ethereum Price Prediction 2025

Over the next four years’ price predictions, racing up to climax will not be difficult for ETH as an additional short-term, medium, and long-term price targets can be found to buy or sell orders. Starting with a minimum price of $5200 in the long term, that means ETH price may record a new all-time high of $5600 over the next five years as per our forecast, and so the bull will bang soon.

NOTE:  

Interested investors should be well informed that it’s not assured to make money; you can lose all the cash you put in.

In other words, it is advised, don’t invest more than you can afford to lose or into something you don’t understand.

Cryptocurrencies are also especially volatile, and their values can drop at little to no notice.

Final Verdict

As you will now be informed, Ethereum’s platform has huge potential going forward – and if the developers can capitalize on this great chance, we will surely see some unbelievable price moves in the months and years to come.

With Ethereum showing so much sign, it has support from all the industry crypto connoisseurs who firmly believe that backed by a fundamental strong algorithmic science and a steady performance, Ethereum can be an excellent investment opposed to Bitcoin but only if invested at the appropriate time with the correct price gauge as per ETH price prediction.

Ether prices have enjoyed some compelling gains lately, breaking through the $3,500 level earlier today and approaching $3,800 this afternoon.

The world’s second-most valuable digital currency by market value reached $3,789.00 around 12:45 p.m. EDT, CoinDesk figures show.

At this point, it was trading at its most elevated value since May 16, additional CoinDesk data reveals.

Further, it was up more than 100% after falling to nearly $1,700 in late June.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Several analysts weighed in on the digital asset’s recent strength, speaking to the various factors helping drive it higher.

“Ether has continued to rise for a number of reasons, creating the perfect storm for price appreciation,” said Scott Melker, a crypto investor and analyst who is the host of The Wolf Of All Streets Podcast.

“Investors and believers continue to stake their coins in advance of Ethereum 2.0, and on countless CeFi platforms for yield, dramatically reducing the supply,” he noted.

“The enactment of the London Hard Fork and EIP-1559 have created a supply side shock, with the burning of 500M in coins in the first few weeks. Eth inflation is actually less than that of BTC at the moment.”

“Further, supply is being locked in DeFi and being traded for NFTs, which are in a massive boom cycle,” he said.

Jesse Proudman, co-founder and CTO of crypto hedge fund Strix Leviathan, also weighed in, commenting on how the growing visibility of NFTs and the increasing usage of DeFi have helped fuel gains.

“Today’s ETH surge is a perfect storm of both the explosion of interest in the NFT space, and the rising usage of DeFi protocols as people look to put their crypto to work in markets that have largely been range bound for several weeks.”

Sean Rooney, head of research at Valkyrie Investments, offered a similar take.

“The explosive growth of the DeFi ecosystem is the main factor for recent price strength in ether. NFTs have taken center stage in recent months as the market begins to better understand real world use cases.”

“What started as a discussion about digital art has transformed into communities and a new economy for artists and creators using programmable tokens,” he added.

“The trajectory for DeFi and NFTs is up, along with the price of ether.”

Institutional Involvement

One factor several experts cited as helping drive ether’s upside was the growing interest of institutions.

“Ether is by far the most attractive asset for Institutional investors who are putting more and more cash into digital assets,” said Charlie Silver, CEO & Chairman of Permission.io.

“With regulatory clarity being signaled you are seeing these big moves driven by smart professional money.”

William Noble, the chief technical analyst of research platform Token Metrics, also chimed in.

“Institutional involvement in DeFi is dramatically above year-ago levels,” he stated.

“ETH is telling you that the dawn of DeFi as a mainstream tool for institutional investors is here,” said Noble.

John Iadeluca, founder & CEO of multi-strategy fund Banz Capital, also offered some perspective on this subject.

“Institutions are further embracing Ether as a long-term investment, many of which are recently now opening their eyes to staking and passive validator rewards. Ethereum 2.0 staking provides institutional investors with an uncorrelated return stream, which blends perfectly with many institutional investment portfolios.”

Technical Analysis

Some of the market experts who contributed for this article also offered technical analysis.

Jake Wujastyk, chief market analyst of TrendSpider, described today’s price increase as probably being “a simple technical breakout as the chart has been setting up for a larger move over the last several weeks.”

“On the weekly candle, there was a large volume shelf shown by using TrendSpider's volume by price tool forming. These ‘shelves’ can create a base for the price to move up off of, which is exactly what happened.”

Other market observers pointed out crucial technical levels that traders should monitor.

“Observers should watch out for the key resistance level at $4,000, as well as rising selling pressure close to Ethereum's previously attained all-time high in the $4,150-$4,200 areas,” said Iadeluca.

Melker weighed in, offering a different point of view.

“From a technical perspective, it is effectively clear skies until the previous all time high around $4,400, as long as Ethereum holds the $3,600 and $3,300 areas as support.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

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