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Ethereum Market Report: $ETH Falls to 2018 Low

Brief:


Ether falls to a 2018 low of $102.36 as bitcoin experiences its worst crash this year. Ethereum is down -3.23% in 24 hours, down -8.26% on the week and down -41.77% on the month on a last price of $114.68. The Ethereum marketcap is $11,871,817,867 with a circulating supply of 103,521,258 $ETH. $ETH/USDT is trading between a 24hr high of $120.26 and a 24hr low of $112.01 on a 24hr Binance volume of $51,170,520. This trading volume is moderate to heavy. The weekly price trend is mixed.

Rank #3

Ethereum is ranked #3 today by cryptocurrency market capitalization.

Last price

114.68 $ETH/USDT

$USD

last price $ 114.68
one week ago $ 125.00

Price change

Price change is the $ETH percentage change within the period:

period change
day -3.23%
week -8.26%
month -41.77%

Volume

Volume

$ETH 24 hour volume
USDT $51,170,520
all $ETH currencies $2,075,529,900

The 24 hour volume for $ETH/USDT on Binance is $51,170,520. This volume weight is moderate to heavy when compared with Binance daily trading levels for $ETH over the last month.

The total 24 hour volume for all reporting $ETH markets is $2,075,529,900.

Market Share

The Binance currency pair $ETH/USDT is 2.47% of all $ETH traded in twenty-four hours. This Binance pair (ETH/USDT) is fifth overall today.

Remarks

Ether falls to a 2018 low of $102.36 as bitcoin experiences its worst crash this year. Ethereum is down -3.23% in 24 hours, down -8.26% on the week and down -41.77% on the month on a last price of $114.68. The Ethereum marketcap is $11,871,817,867 with a circulating supply of 103,521,258 $ETH. $ETH/USDT is trading between a 24hr high of $120.26 and a 24hr low of $112.01 on a 24hr Binance volume of $51,170,520. This trading volume is moderate to heavy. The weekly price trend is mixed.

$ETH Remains Third Rank
Two weeks ago we saw $ETH slip to third in market cap to $XRP (again), and this hasn’t changed. Ripple has widened the gap and today is printing more than $2.8 billion more in market capitalization. Coinmarketcap pegs $XRP at $14.6 billion with ether weighing in at $11.8 for a difference of $2.8 billion. The flip is not irreversible but the fundamentals for $XRP appear to be much healthier than those of $ETH.

Lowest Price Since Spring 2017
The last time we saw ether at such a bargain it was May 19 of 2017, the price was $113.41, and ether was on its way up. That rally saw a peak of $410.75 (Coinmarketcap). However this time the market has been bearish since the week of May 06 2018. That’s half a year of bear market:

Bear Market Since Spring of 2018

What to Expect?
With half a year of bearish movement it might be easy to postulate more of the same. The six hour chart default MACD is showing strong buying pressure on an extended length of time:

Six Hour Chart MACD

The RSI on the one day chart is printing 41.61 which is well within the neutral zone (between 30 and 70).

The short term EMA on the four hour chart has dipped below the medium term EMA, signalling a weakening of the $ETH position.

Volume is down, although still moderate, and price is in the red over a two day period on the one day chart. There appears to be less contention over the current price, and not as much enthusiasm to send it higher or lower.

$ETH Weekly Price Trend
Tap/click to zoom:

The weekly trend is mixed. This is different from up or down. The weekly range is between $126.80 and $102.36. Within the week we’ve seen four daily candles of red, but three of green. Seven days of oscillation within a $24.44 scope is beginning to look like a sideways condition. The price is softening over the last two days, but staying within the weekly range.

The key ten day resistance line is $137. If ether can decisively break this resistance then good things could happen.

The yearly 2018 low of $102.36 was set three days ago on November 26 2018. This sits just below a critical support level at $104.53. If ether erodes below this key support then fresh price declines are likely.

View
If ether can decisively break $137 key resistance then a continuing upwards movement is possible.

If ether erodes below $104.53 key support then fresh price declines are forecast.

The technicals suggest a weakening $ETH price but within the existing narrow weekly range.

$ETH One Day Candles

One Year $ETH Chart

Browse Ethereum Collection

Learn about the unique characteristics of $ETH. Browse our collection of Ethereum Market Reports.

Friday November 30 2018 Bitcoin Background

Altcoins such as Ethereum ($ETH) may show a relationship with Bitcoin ($BTC) which changes with the alt, bitcoin and market conditions:

24 Hours of Bitcoin
24 Hours of #Bitcoin
-4.86% price $4,019.63
vol $6,001,511,297
mktcap $69,944,755,952
17.40M #XBT 20:38
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Yesterday

Highlight Chart

Tap / click to enlarge:

Ether falls to a 2018 low of $102.36 as bitcoin experiences its worst crash this year. Ethereum is down -3.23% in 24 hours, down -8.26% on the week and down -41.77% on the month on a last price of $114.68.
Ether falls to a 2018 low of $102.36 as bitcoin experiences its worst crash this year. Ethereum is down -3.23% in 24 hours, down -8.26% on the week and down -41.77% on the month on a last price of $114.68.

Data sources

Main Data Source

Binance is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Binance.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of Bitcoin are fine data products from KittyBitcoin.com

Other sources are credited where used.

Market capitalization

Market capitalization is the total $US dollar value of the Ethereum market calculated using the formula:

market cap = ( circulating supply x last price )
Market cap $ 11,871,817,867
Circulating supply 103,521,258
Last price $ 114.68

Daily High Low

daily high 120.26 USDT
daily low 112.01 USDT

Trend

The weekly trend is mixed.

trend is MIXED

Trend is "mixed" when the week contains both green and red daily price candles, price movement up or down is significant, and there is no clear weekly price direction.

Resistance

Resistance is the highest price within the period:

period resistance
day 120.26 USDT
week 126.80 USDT

Support

Support is the lowest price within the period:

period support
day 112.01 USDT
week 102.36 USDT

Market sentiment

$ETH market sentiment is neutral to bearish.

sentiment neutral

Image courtesy Pixabay.com

Summary

Ether falls to a 2018 low of $102.36 as bitcoin experiences its worst crash this year. Ethereum is down -3.23% in 24 hours, down -8.26% on the week and down -41.77% on the month on a last price of $114.68. The Ethereum marketcap is $11,871,817,867 with a circulating supply of 103,521,258 $ETH. $ETH/USDT saw weekly resistance at $126.80 USDT in a falling market, and weekly support at $102.36 USDT the year’s lowest price. Market sentiment is neutral to bearish. The weekly price trend is mixed in daily moderate to heavy volume trading.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

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