Ethereum News and Price Overview: Uncertainties with ETH Market Trend, Small Green Light After Week Of Reds. Monday, June 26
Important Ethereum News
No Certainty for Market Trend for Ethereum
The fluctuating coin market in the past week has once more proven that this is an uncertain market. With falling prices, (ETH/USD) pair has entered a descending channel indicative that prices will continue to dip this week unless strong market signal initiates bullishness. Today, we are seeing the first signs of potential upcoming price increase, with some coins getting +1% in value in last 24 hours.
On two occasions in the past weeks, prices have turned southwards from the 20 day EMA. It is expected that the bearish trend breaks around the $450, if this happens, the next support level is located at $358.
Analysts have predicted a higher buy level than the coin is currently experiencing. It is likely that the bear market will be sustained this week unless some positive news breaks and investor confidence gets higher.
Ethereum’s 7 Percent Fall Deleted $17 Billion from the Coin Market
The coin market lost $17 billion of its volume following the plunge of most of the major cryptocurrencies. In the past couple of days all the digital currencies such as Bitcoin, Ethereum, Ripple and EOS lost value, with EOS losing the most with 10 percent loss. Ethereum, Litecoin, Stellar and Dash came in second with 7 percent drop in value each.
There are various reasons offered by analysts on why the coin market lost some $17 billion in 48 hours. The crypto market had experienced a sort of stability in mid June in what most analysts termed a correction, but the recent hack of Bithumb, the South Korean exchange initiated the recent plunge in the market.
CoinBase Adds Ethereum Support
Coinbase had earlier stated that it would support the ICO enabling ERC20 after their new Ethereum based decentralized server Toshi integrated with Ethereum Classic (ETC). In its official statement, the company said, “We have previously announced our intention to support the ERC20 technical standard and Bitcoin forks. We will announce the intention to add specific assets within those categories prior to final engineering integration. This is consistent with our public process for adding new assets.”
ETH/USD Price Chart, Monday June 25th:
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