by Penny Angeles-Tan | Oct 10, 2024 | Business
Today, Ethereum price is increasing while the crypto market is in the red zone. Is this condition proof that Ethereum can reach the level of $ 2,600?
Since Iran’s attack on Israel, Ethereum price has been affected and experienced a decline as the crypto market has been very volatile this week. However, surprisingly today the price of Ethereum has increased, even leaving Bitcoin which has fallen in price.
Will Ethereum break through $2,600 as holders of this token hope? Read the complete analysis in this article until the end.
Will Ethereum (ETH) Price Break $2,600
Long-term holders (LTHs) of Ethereum often determine how the ETH token will be priced in the future. There are indicators of LTH behavior. Currently, Ethereum LTH is showing an accumulation mode which is providing a positive signal to the Ethereum price.
The more long-term holders who HODL will also make the price of ETH increase because it means there is long-term trust in this token.
However, investor sentiment towards Ethereum also varies. Although many investors HODL, there is a negative sentiment from investors regarding Ethereum’s ability to reach $2,600. This is because the price of Ethereum decreased by 7.3% from October 1 to 8.
The Impact of an HBO Documentary and the Price of Ethereum
This article was written on October 9, 2024, just when HBO scheduled its newest documentary entitled “Money Electric: The Bitcoin Mystery” to be broadcast.
The film is said to reveal who Satoshi Nakamoto is. The figures believed to be Satoshi Nakamoto are Len Sassaman, Hal Finney, and Adam Back.
This HBO film created a riot among crypto fans. It was stated that the documentary could influence Bitcoin price to Ethereum. Will the prices of BTC, ETH, and other crypto tokens drop when the film is finally shown by HBO?
Ethereum Price Chart Today
When this article was written, Ethereum experienced a price increase of +0.42% so that it was trading at $2,434. Even though the increase did not reach 1%, this can be said to be good news because the majority of crypto tokens today experienced a price decline, including BTC, SOL, and USDT.
However, the increase in Ethereum prices has not been calm. Because, if you look at the ETH price chart above, the RSI and MACD indicators actually show unpleasant signs.
Ethereum’s RSI is 41.9 points lower than 50, which means there is a large selling trend, more dominant than the buying trend. The MACD line is also declining. If this continues to happen, Ethereum will face a bearish trend.
Ethereum Versus Bitcoin
Ethereum has become the leading altcoin and is predicted to be an alternative coin that can beat Bitcoin. And as expected, the two tokens are always compared regarding their price ups and downs.
In terms of average price increases, the price of Bitcoin has increased by 128% from year to year, while Ethereum is only 53%.
Since it was first launched in July 2015, Ethereum has been able to reach the $1,300 level in 2.5 years since it was first launched. Ethereum reached the level of $4,891 in November 2021 but had to be willing to drop drastically to $900 in 2022 due to unstable world economic conditions.
Conclusion
That is an explanation of the price of Ethereum which has increased today and predictions of reaching the $2,600 level. You can do more in-depth research about Ethereum, from checking prices in real time to finding out about the latest ETH projects only on the Bitrue website.
Bitrue also provides a price conversion feature ETH to USD so you don’t need to change websites to check it. Understand more details about how to buy Ethereum before investing in this token.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 9, 2024 | Business
The crypto market is currently not doing well. However, the price of SUI has been steadily increasing in the past month. What is the reason for this increase in the price of the token?
Amid the crypto market, which is currently red, a piece of good news came from SUI. SUI Price experienced a significant increase of up to 20% in the last 24 hours when BTC, ETH, BNB, SOL, and USDT experienced a price decline.
What is the reason behind this spike in token prices? Read the explanation in this article until the end.
Why are SUI prices increasing?
In terms of market capitalization, SUI is ranked 18th. Even though it has not yet entered the top ten, in the last month, SUI’s performance is considered very good. This is because SUI experienced an increase of up to 124% during that time.
There are several reasons why SUI prices have increased, one of which is the news that the USDC Circle stablecoin will be launched on the Sui Network. The announcement of this launch was made on September 17 and since then, the price of SUI tokens has experienced a steady increase until now.
The launch of USDC is considered important because it is classified as the second largest token in the world as a currency that is used significantly in on-chain transactions besides USDT. SUI, which has experienced a smart contract network, makes investors optimistic about the innovations that will occur in the future.
Apart from the news of the launch of USDC on the SUI network, support from one of the global crypto exchanges also makes SUI even more prominent among investors.
Current SUI Price Chart
At the time of writing, SUI was trading at $2.0134 with an increase of +3.79%. The highest price was $2.1646 in the last 24 hours.
It can be seen from the capture above taken from Market Bitrue, SUI currently has a positive outlook price chart. The RSI indicator is at 59, which means the buying trend dominates positively compared to the selling trend.
The MACD SUI indicator also appears to be climbing upwards. SUI token holders must get ready because a bullish SUI trend will occur.
Current Crypto Market Conditions
As mentioned at the beginning, currently the crypto market is red. Large tokens, such as BTC, ETH, and SOL experienced significant price declines.
Bitcoin Price currently is $62,213 with a decline of -2.22%, Ethereum price was $2,422 with a decline of -2.54%. The decline in SOL is higher, namely -4.06%, and currently Solana is trading at $142.86.
This condition occurs due to several factors, one of which is because the conflict between Iran and Israel has continued to heat up since October 1. October is much awaited as a happy month with its #Uptober.
However, given the nature of the crypto ecosystem’s reaction to conflict between countries, will #Uptober still happen? You can follow the latest conditions in the crypto ecosystem by reading Bitrue articles.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 7, 2024 | Business
Iran’s attack on Israel dampened the #Uptober tradition in the crypto ecosystem. Most crypto prices have dropped, including Solana and XRP. How are the two crypto tokens doing now?
Uptober, a joyful tradition in the crypto ecosystem every October, seems to be faltering due to conflicts between countries. The reason is, that since Iran attacked Israel the crypto market has turned red, and so have Solana price and XRP.
Let’s take a closer look at SOL and XRP. The discussion will also include Solana pricing and XRP price now so you can find out what the condition of both of them is in real-time.
Why is October Special in the Crypto Ecosystem?
The Uptober tradition in crypto is not a traditional tradition which reflects the increase in crypto token prices. Apart from the volatile nature of crypto, various other factors can also make October a sad month for crypto token holders.
However, here are some reasons why October has been special in recent years for the crypto ecosystem.
1. Market Strengthening After Summer
June to September were indeed slow months for the crypto ecosystem. Starting from the price of Bitcoin, Solana, XRP, Ethereum, and various other crypto tokens experiencing price declines.
After the summer, conditions improved. One reason is that institutional investors return to the office after their holidays and interest in trading and investment has strengthened again.
2. October Becomes Encouragement
The end of October becomes a bridge to Q4 where investors begin to tighten their belts to welcome strong final results. Market activity also increased with crypto holders starting to strategize fully so that purchasing power becomes greater.
3. Movement of Various New Projects
Often various projects are presented in the final quarter of each year, ranging from large industries to new regulations welcoming the new year. This is why crypto prices often strengthen in October because there is new hope for the future.
Uptober Contaminated by Iran and Israel Conflict
Iran’s attack on Israel in early October shook the investment world, including the crypto ecosystem. When news of the conflict between the two countries heated up, the majority of crypto prices immediately went red, including Solana and XRP.
Uptober is widely doubted by crypto players. Coinglass data shows that more than $351 million was withdrawn from the market in the last 24 hours at the time of the reported Iran attack.
Current Solana and XRP Price Chart
Let’s analyze the current prices of XRP and Solana. These two tokens are known to be strengthening, especially XRP which is currently raising its ETF project. However, it can be seen that the price of XRP to USDT is still red.
XRP still seems to respond negatively to existing conflicts. The current price of the token is $0.5300 with a decline of -0.6%. The RSI indicator is in free fall at 36, which means that if it falls again then there is overselling and XRP bearishness will certainly occur.
However, XRP’s MACD line is struggling to rise through the boundary line. If XRP can prove its strength, the line can rise and the bearish trend will be broken, replaced by a bullish trend.
SOL to USDT was also the same as XRP, decreasing by a similar percentage, namely -0.5%. Currently, Solana is trading at $143.63, having previously reached its highest price of $144.58 in the last 24 hours.
However, Solana still shows a stable situation. The RSI indicator is still at 46, which means that even though the selling trend is more dominant than the buying trend, there is no excessive selling.
The MACD indicator is below the limit line, but looks like it is trying to return above. Solana still has a possible bullish trend.
Conclusion
That is information about Solana and XRP regarding the Iran and Israel conflict. You have to be more careful in deciding to invest in the crypto ecosystem at times like now. Research must be further deepened.
Bitrue will help you to do detailed research. Real-time price checking is available to you for free and you can even convert prices from USD to XRP, SOL, BTC, ETH, and prices of every other crypto token. That way, you can understand better how to buy SOL, XRP, and other crypto tokens.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 2, 2024 | Business
Ethereum (ETH) price today has decreased. However, the prediction of Ethereum price increase to $ 10,000 is still strong with the existing technical data. Here is the full explanation.
Amid today’s declining crypto market conditions, ETH is predicted to achieve a price increase of $10,000. However, today Ethereum price also fell like the majority of other crypto tokens.
So, how can ETH get a predicted price increase? Even though ETH’s recent performance has also underperformed compared to BTC.
Current Ethereum (ETH) Price Chart
Above is the ETH to USDT price chart taken from the Bitrue website. When this article was written on September 30, Ethereum was trading at $2,616 with a decline of 1.18% in the last 24 hours. Previously, during the same period, ETH was at $2,673 as its highest price.
The number on the ETH RSI indicator is 47.80, which means that ETH is safe, not in an over-selling condition even though there is a decrease in purchasing numbers.
Ethereum’s MACD condition is also quite safe with the graph declining but not yet touching the boundary line. Thus, ETH bearishness is technically not coming any time soon.
Are There Signals of an Ethereum Price Bullish?
Recently, Ethereum has experienced poor performance. Several times the price of ETH was in the red even though the majority of crypto tokens were rising.
However, it is predicted that global macroeconomic trends will provide benefits for Ethereum. M2 money supply growth will support Ethereum price increases.
Later, when the central bank eases monetary restrictions it will create a new surge in liquidity in Ethereum which is also in line with Bitcoin.
Beyond global macroeconomic trends, Julien Bittel, head of macro research of Global Macro Investor, stated that ETH could reach its $10,000 price target shortly by conducting a technical analysis of Ethereum.
This is because there are similarities between the current Ethereum price chart and 2023-2024 when ETH experienced a sharp increase.
However, today’s Ethereum price drop is nothing to worry about. This is because the crypto market condition is not currently good. The majority of crypto tokens experienced price declines of varying amounts.
Not only the prices of large tokens, such as BTC, ETH, SOL, USDT, and BNB but also various meme-coins also experienced price declines. GameFi tokens that have been hotly discussed recently, such as HMSTR, NOT, and DOGS, are also following this downward price trend.
Conclusion
This is information about the downward trend in the price of Ethereum (ETH), complete with a discussion of how to predict the price increase in the future.
For those of you who want to learn how to buy ETH, Bitrue has a solution for you. Many features can be used, starting from checking ETH prices in real-time, reading the latest information about Ethereum, to checking conversion prices from ETH to USD easily.
By conducting in-depth research before buying crypto tokens, you will be more secure so you can easily determine an investment budget according to your financial condition.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 1, 2024 | Business
Today, Bitcoin price is down. Is it true that Bitcoin no longer dominates the crypto ecosystem? Understand how BTC is doing to other crypto tokens by reading this article until the end.
Bitcoin Price today it’s down. Even though the decline is not too big, this decline is a sign that the crypto ecosystem is not in good condition. The reason is, not only Bitcoin, but the majority of crypto tokens are also experiencing prices plummeting today.
What is the real state of the crypto market now? Is it true that there will be a major price correction in the future and the price drop in the majority of crypto tokens today is the start of that price correction? Check out the explanation below.
Current Bitcoin Price Chart
As of today, the price of Bitcoin to USDT has decreased by 1.72%. Perhaps, this decline does seem small because the current BTC price is still above $64K. However, previously Bitcoin was for $66,076, which means the price of BTC has fallen quite a lot at this time.
Looking at the Bitcoin price graph taken from the Bitrue market above, the RSI value is quite worrying because it is at 39. This means that if the BTC RSI value falls again, then BTC will be recorded as experiencing over selling and this will make the BTC price fall further.
The BTC MACD indicator also decreased with a fairly wide distance between the two lines. This condition makes predictions of bearish BTC stronger.
Bitcoin Predicted to Rise in Q4
There is a unique curse that is widely believed among analysts and crypto observers, namely Bitcoin which always gets worse in September. This is not even just a curse that can be taken lightly because there is underlying data.
Above is data on the decline and rise in Bitcoin prices since 2013. You can see that every September, BTC experiences a price decline. If this data continues, it means that BTC token holders will be happy because it means that in October BTC will experience another price increase.
Crypto Ecosystem Will Experience Price Correction?
Currently, the majority of crypto tokens are red. Not only Bitcoin, but Ethereum, Solana, BNB, USDT, and various memecoins also experienced price declines.
You can see from the screen capture the crypto ecosystem heatmaps taken from Cryptorank above. Many crypto tokens are experiencing price declines. The price decline is not that high, but this needs to be looked at more carefully because it is not just one or two tokens that have dropped in price.
This correction prediction is supported by Fear & Greed data. Currently, the crypto ecosystem is in the greed phase, which means that there is a chance for correction in the future. This greed phase has been going on since yesterday even though in the previous week, the crypto ecosystem was in the Neutral phase.
Quoted from Trading View, Bitcoin’s role is currently quite dominant with a dominance figure of 57.17%. This Bitcoin dominance figure decreased by 0.63% in 24 hours.
Conclusion
That’s an analysis of the price of Bitcoin and how the crypto market conditions are as of today, September 30. If you are currently researching Bitcoin or other crypto tokens, you can directly visit the Bitrue website.
There are many interesting features on Bitrue that you can use to do research before investing in crypto. You can check the token price and convert it to the current USD price, for example, BTC to USD to find out the latest information on the crypto ecosystem by reading articles on the Bitrue blog.
If you are a new player in the crypto ecosystem, Bitrue is also a website that makes it easier for you to learn how to buy BTC and other crypto tokens.
This Press Release has also been published on VRITIMES
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