Ethereum is also facing a major resistance near the $1,900 zone and it has started a recovery wave above the $1,800 and $1,820 levels. The price is now trading above $1,820 and the 100 hourly simple moving average at the time of scripting. 

Furthermore, there was a break above a major bearish trend line with resistance near $1,820 on the hourly chart of ETH/USD (data feed via Kraken). Also, the pair must clear the $1,900 and $1,920 resistance levels to continue higher. 

Ethereum Price Eyes Upside Crack

The price of the Ethereum extended decline below the $1,800 level at the time of scripting. However, the bulls were active above the $1,700 level at the time of scripting. The price fused near the $1,740 level before it started a decent upward move.

Further, there was a clear move above the $1,800 resistance zone. Ether price surpassed the 50% Fib retracement level of the downward move from the $1,910 swing high to the $1,700 base. Besides, there was a break above a major bearish trend line with resistance near $1,820 on the hourly chart of ETH/USD.

However, the price is now trading well above $1,820 and the 100 hourly simple moving average. It is also consolidating above the 76.4% Fib retracement level of the downward move from the $1,910 swing high to the $1,700 base.

On the upside, an initial resistance is near the $1,900 level. The next major resistance is near the $1,920 level. A proper upside break above the $1,920 resistance might start a decent increase. In the stated case, ether price could rise towards the $2,000 resistance zone. Any more gains may perhaps send it towards the main $2,085 resistance zone.

Fresh Decline in Ethereum?

If Ethereum fails to continue higher above the $1,920 resistance, it could start a fresh decline. Initial support on the downside is near the $1,840 zone.

The next major support is near the $1,820 level and the 100 hourly simple moving average at the time of writing. A downside break below the $1,820 level might call for another sharp decline. In the stated case, the price could revisit the $1,720 support zone in the near term. The next major support sits near $1,700.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now well above the 60 levels.

Major Support Level – $1,820

Major Resistance Level – $1,920

Read More: Significant Juncture reached by Ethereum, will Bulls be able to Make it?

The post Technical Analysis: Ethereum Reaches Crucial Juncture, Can the Bulls Make it? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Lastly, Experts say the crypto market also reflects the heightened volatility that comes with war.

Ethereum Price Bounced Up Recent Week!

Ethereum has bounced up and down in recent weeks. It follows an immediate drop below $2,400 on Feb. 23 after Russian President Vladimir Putin ordered troops into Ukraine.
Moreover, Bitcoin has followed a similar pattern. Experts also point to other factors like the crypto market tracking the stock market, more mainstream adoption, and slumping prices. In addition, recent months contribute to what we’re seeing with crypto prices right now.
Moreover, even before the war in Ukraine, the volatility for Ethereum came amid continued surging inflation.
The stock market’s worst month since March 2020, and ongoing indications that the Federal Reserve. It will begin raising rates at its next meeting in March to counteract inflation.
Furthermore, Government officials have also continued to show an interest in more crypto regulation and even the possibility of creating a government-issued digital currency. Bitcoin’s price has had a similarly rough stretch lately.

All this has made for a shaky start to the year for Ethereum, which in January dropped below $2,200 — the lowest Ethereum’s price had been since July 2021.
In addition, Ethereum’s price has been between $3,100 and $3,500 so far this week. Here’s how its current price compares to its daily high point over the last few months:
ONE WEEK AGO (MARCH 23)
ONE MONTH AGO (MARCH 2)
3 MONTHS AGO (DEC. 30)
$3,032
$3,001
$3,682

After topping $4,100 on Dec. 27, Ethereum has ranged between $2,100 and $4,000 in the days since. Despite the slow start to 2022, many experts are still bullish, predicting Ethereum’s price could potentially hit and exceed $12,000 this year.
Despite the recent slump, Ethereum still had a relatively strong close to 2021. Ethereum set a new all-time high when it went over $4,850 on Nov. 10, and it carried that strength into December before falling back by the end of the month.
Even with the late slump, Ethereum closed the year way over where it started: In January 2021, Ethereum’s price was just a little over $1,000.

The post Ethereum price Has Fallen 90% Since Nov 2021; ETH Shows Stronger Correlation With S&P 500 appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The crypto community and industry have chosen Ethereum as the chain of choice for most blockchain-based decentralized applications. Still, other chains are suitable to handle the workload of decentralized autonomous organizations (DAOs).

Moreover, technical advantages and cheaper transactions have yet to become a significant pull factor from Ethereum Virtual Machine (EVM) chains.

EVM compatibility enables a network to use Ethereum’s security features.

Ethereum (ETH) and its compatible chains have a clear advantage in the number of DAOs compared to any other.

According to data from the blockchain voting platform Snapshot, they house more than 4,200 DAOs and protocols requiring governance participants.

Comparatively, the Solana (SOL) ecosystem has only 140. Though the Cardano has 10 DAOs according to ecosystem tracker Cardano Cube. And the Polkadot (DOT) Substrate says it has just eight.

This is not to discount the fact that among the top 10 DAOs by the number of decisions made over the past seven days, tracker DeepDAO shows that three are based on Solana.

Ethereum’s leg up over the rest may be due to simple yet practical reasons, according to DAO tracker DeepDAO CEO Eyal Eithcowich in emailed responses to Cointelegraph. He attributes Ethereum’s dominance to the fact that it is “the chain where the DAO movement started.”

On the other hand, he pointed to high gas fees as a shortcoming of Ethereum. He added that Solana allows DAOs to make fast and cheap transactions. However, the supporting features and tools in the ecosystem are less robust.”

Other Blockchains Network For the DAO

Additionally, Solana has become vulnerable to infrequent network outages.

The co-founder of the Nonfungible token (NFT) game on the EOSIO-based WAX network Alien Worlds, Saro McKenna, told Cointelegraph last week that she believes EOSIO (EOS) is better for building DAOs.

In her view, Ethereum is too expensive for voting purposes. It was designed to be a “general-purpose blockchain” to handle any number of different tasks.

Gas fees have long been an issue for Ethereum users, but fees have been at their lowest levels since last August in March.

However, the CEO of blockchain consulting firm Koinos, Andrew Levine, had pointed criticisms of EOSIO, which could explain why it falls short of Ethereum’s adoption rate. In February, he wrote that while EOS transactions are virtually fee-less, there is an account creation fee. Furthermore, holding coins on an account is difficult as compared to Ethereum:

“The EOS database is built on something called “memory-mapped files,”. It is another vestige of the Steem design. Moroever, it is an important consequence of which is that it is designable to use the most expensive form of storage possible: random-access memory (RAM).”

The post Is Ethereum Really The Best Blockchain To Create A DAO? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Disclaimer: This article contains affiliate links.

With over 100 available payment methods, funding a Skrill account is easy. After purchasing their first cryptocurrency, users can manage their portfolios in real-time. The platform also allows placing conditional orders on cryptocurrency buying. Thus, Skrill automatically buys or sells the chosen asset with the set triggers.

What Cryptocurrencies Are Available?

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Limits and Fees

Skrill’s FAQs suggest that the minimum amount of crypto purchase is about EUR 10. On the other hand, the maximum amount depends on the user’s transaction limits. After the transaction is completed, it only takes a few seconds to receive crypto in the account. For each cryptocurrency transaction, users pay a relevant fee. Users pay EUR 0.99 for each transaction of up to EUR 19.99 and EUR 1.99 for each transaction between EUR 20 and EUR 99.99. Clients pay 1.5% per transaction if they transact over EUR 100 and 0.5% for each P2P transaction.

Skrill Cards and Rewards

Skrill provides cryptocurrency buying and selling services thanks to its partnership with crypto exchanges. It is a digital payment platform that allows clients to send and receive money instantly anywhere in the world. Moreover, users can pay for products and services online and offline with Skrill Prepaid Mastercard or Skrill Virtual Prepaid Mastercard.

Clients who use their Skrill accounts frequently can also take part in rewards programs from the platform. For instance, they can join the loyalty program Knect to earn points and exchange them for cash rewards, become VIP members or affiliates.

The post Cryptocurrency buy and sell feature is live in the Skrill app appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.