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Ethereum Wallet MEW Enables Eth 2.0 Staking Through Your Phone

MEW is one of several crypto wallet services actively helping onboard new users to the Ethereum blockchain, which has now amassed a market capitalization of over $272 billion. Kosala Hemachandra, the co-founder and CEO of My Ether Wallet (MEW), talks about MEW’s two-step solution to staking on Ethereum 2.0.

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The Chart Pattern That Takes Ethereum To $10K

In a flash, Ethereum is back to trading under $3,000 after just weeks ago reaching a high well over $4,000. The wider crypto market correction got the best of ETH and the rest of altcoins especially, and even managed to take down Bitcoin.

However, if past market cycles are any indication of future results, the crash could be the first touch of an ascending trendline that sends the top-ranked altcoin to around $10,000 per ETH.

How DeFi and NFTs Make For A Very Different Bull Run Than ICOs

During the 2017 bull market, both Bitcoin and Ethereum soared as money flowed into the market. Much of that capital trickled its way down to ICOs, which only further fueled the FOMO for ETH. Eventually, they also led to the collapse of the second-ranked cryptocurrency and the start of the Ethereum bear market.

Today things are very different. The most important altcoin in the space carries the rest of the market on its back. Sure that leads to high fees and slower transactions, but that’s because DeFi is such a big deal and so are NFTs.

Related Reading | The Bearish Signal Ethereum Bulls Need To Fear

These two transcendent technologies are also thanks to Ethereum, and while other chains could take the lead, first-mover advantage is hard to beat. Even though the altcoin collapsed in price recently, the pullback was technical and fundamentals remain plenty bullish.

This could result in the latest selloff being the bottom, and after some gyrating in an ascending pattern, a breakout to $10,000 could be next for ETH.

The ascending triangle would target $10K ETH | Source: ETHUSD on TradingView.com

Analyst: Repeating Triangle Fractal Could Send Ethereum To $10K

The pattern in reference is an ascending triangle pattern, pictured above. The pattern also matches the final consolidation phase of the last bull market, before Ethereum ran to all-time highs and the bear market started.

Related Reading | Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint

Ether has a lot more going for it this time around, but after a run from $4,000 to $10,000, the market might need a reset – much like the market needed to reset after the rise from $500 to $4,000 over the last year.

Ethereum pitchfork $10k

The path Ether could take if the fractal confirms | Source: ETHUSD on TradingView.com

According to one trader who also sees the pattern playing out, the target of the structure will be $10,000 per ETH. Adding in an ascending pitchfork channel and some bars from the last breakout projected forward, and the price action would fit.

The path Ethereum takes would only be visible in hindsight, but if accurate, the crypto market has one more leg up before the bull market is over.

Featured image from iStockPhoto, Charts from TradingView.com
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The Bearish Signal Ethereum Bulls Need To Fear

Ethereum is above $4,000 and has hit a price level that’s nearly three full times the altcoin’s previous all-time high set years earlier. But could a full year’s worth of incredible profits and ROI be potentially leading bulls right off a cliff?

Several potentially bearish signals have appeared on Ethereum price charts that could suggest the bull market is nearing its conclusion, and that a deep retracement could follow.

Ethereum Reaches $4K Resolution As Bitcoin Goes Static

Just like Bitcoin, crypto investors have almost no interest in selling their ETH – only buying it. The recent “spot driven rally” as analysts are calling it, has taken the trending altcoin to as much as $4,200 per ETH at the high.

Gas fees broke records for revenue on that day, proving to the world that the Ethereum blockchain is financial powerhouse. DeFi is still booming, with billions worth of ETH locked, and the NFT trend has only really just taken hold.

Related Reading | Bitcoin And Ethereum Bleed 10% In Violent Crypto Market Shakeout

ETH 2.0 is in progress, and a scarcity improvement – EIP-1559 – will make the asset even more valuable to hold in the long term. It, and the recent recovery on the BTC trading pair, has prompted the return of “flippening” discussion.

What could possibly go wrong for the second-ranked crypto asset encroaching on Bitcoin’s throne?

ethereum bearish peak top cycle

This bearish divergence and Pi cycle "top" signal doesn't look good | Source: ETHUSD on TradingView.com

The Bearish Signals That Could Surprise Crypto Bulls, End Current Cycle

Unfortunately for bulls, Ethereum is exhibiting signs that resulted in the last bear market across crypto. On weekly timeframes, there’s a massive hidden bearish divergence, just as Ethereum brushes up against diagonal resistance.

Prior to the most recent push, Philip Swift’s “Pi Cycle Top” indicator used for Bitcoin peaks triggered – just as it did during the last bull market as it came to its conclusion.

Related Reading | Here’s Where The Ethereum Rally Could Pause, According To Bitcoin Blueprint

Bitcoin reversed first, and capital flowed into altcoins boosting the BTC trading pair ratio and beginning the talk of flippening. Now, the same sort of talk is back, and once again it is alt season and the top crypto by market cap has paused its rally.

ethereum td

A TD "sell" setup has marked the peak of most major rallies in Ether | Source: ETHUSD on TradingView.com

Making matters worse, there’s also a TD sell setup on the weekly timeframe, which yet again was a near-flawless top sign both in 2018 and again in mid-2019.

If Bitcoin takes a dive here, and sends the ETHBTC trading pair back to former highs, the coincidences could be too many to ignore. Bulls might have had their final push in both Bitcoin and Ethereum, and what comes next is a bear phase no one is expecting

Featured image from iStockPhoto, Charts from TradingView.com
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Lucky Number 7: Bitcoin, Ethereum Break Total Crypto Monthly Record

Bitcoin is back well above $50,000 and Ethereum is now over $3,000 per token. The two top crypto titans have been in full bull mode for the better part of a year now, and it has helped propel the entire crypto market cap to unprecedented heights.

Now at well over $2 trillion and counting, this most recent monthly close in the total crypto market cap marked a historic seven consecutive green monthly candles in a row. Here’s a closer look at what the long string of success could mean for the market in the days ahead.

Crypto Reaches Mass Acceptance, More Than $2 Trillion Market Cap

Sentiment changes quickly in speculative assets like crypto. It was only around two years ago that executives were calling Ethereum a double-digit “shitcoin,” and major media outlets pronounced Bitcoin dead yet again (and again).

Today, the story is very different. Nearly every powerhouse in finance is now taking a “if you can’t beat ’em, join ’em” stance with crypto and are offering exposure to Bitcoin, Ethereum, Litecoin, and others in some way.

Related Reading | Bitcoin Dominance Dives To Lowest In Years, Altcoin Season Is Finally Here

Few assets aside from Dogecoin and the rare moonshot have done as well as top assets Bitcoin and Ethereum, which have soaked up most of the limelight this cycle.

Their sheer size alone is what has pushed the total crypto market cap to more than $2 trillion and climbing. And they’ve now helped the total crypto market close a record-breaking seven monthly candles in a row – the most ever.

bitcoin ethereum total crypto

A new record is set for longest string of green monthly candles | Source: CRYPTOCAP-TOTAL on TradingView.com

Massive Bitcoin And Ethereum Rallies Help To Break Historic Monthly Record

Layered behind the price action of the total crypto market cap the impact of both Bitcoin and Ethereum can be seen. The two combined with other altcoins like Cardano, Dogecoin, and more have made the new record of seven green monthly candles in a row possible.

Bitcoin’s enormous $1 trillion market cap alone has been the biggest contributor overall, while Ethereum clearly has some catching up to do even with a long history of over-performance compared to BTC.

Related Reading | “Exponential Decay” Of The Dollar To Benefit Crypto Long-Term

All eyes have been on Ethereum as of late to take center stage and kick off an unprecedented “alt season.” The ratio between BTC and ETH is nowhere near former highs from the last bull market, even though both have since surpassed USD highs from back then.

What this all suggests is that altcoins could take lead with the total percentage of crypto market cap they capture compared to Bitcoin. Whether this is a result of future over-performance, or a correction in Bitcoin remains to be seen.

Featured image from Deposit Photos, Charts from TradingView.com