March 23, 2019

Ethereum Price Weekly Analysis: Buy ETH With Break Above $138

ETH price declined recently, but it found a strong support above $132 against the US Dollar.
The price recovered and it is now facing a solid resistance near the $137-138 zone.
There is a major breakout pattern formed with resistance at $138 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is likely to accelerate higher once there is a proper break above $138 and $140.

Ethereum price is aligning for the next move versus the US Dollar and Bitcoin. ETH/USD will most likely climb higher as long as there is no close below the $132-133 support area.

Ethereum Price Analysis

After forming a stop near the $144 level, there was a steady decline in ETH price against the US Dollar. The ETH/USD pair declined below the $140 support level to move into a bearish zone. Later, it found support near the $135 level, but buyers failed to hold losses. Finally, there was a downside break below the $135 support and the 100 simple moving average (4-hours). The price declined below the $134 support and traded close to the $132 support area.

Recently, the price recovered and moved above the $135 level. However, the price seems to be facing a strong resistance near the $137-138 area. At the moment, it is trading near the $135 level and the 100 simple moving average (4-hours). An immediate support is near the 50% Fib retracement level of the last wave from the $132 low to $138 high. More importantly, there is a major breakout pattern formed with resistance at $138 on the 4-hours chart of ETH/USD.

The triangle support is near the $134 level, below which the next key support is near the $132 level. It seems like the price is preparing for the next move either above $138 or below $134. On the downside, there are many supports near the $134, $133 and $132 levels. Therefore, there are high chances of an upside break above the $137-138 resistance area.

The above chart indicates that ETH price is likely to climb above the $137-138 resistance area. In the mentioned bullish scenario, the price could even break the $140 resistance and revisit the $144 resistance area. The next key resistance is near the $148 level, followed by $150. On the flip side, if buyers fail to push the price above $138, there could be a downside reaction. A break below the $132 support may call for a test of the $130 support.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is currently flat, with a few positive signs.

4 hours RSI – The RSI for ETH/USD is currently below the 50 level, with a bearish angle.

Major Support Level – $134

Major Resistance Level – $138

Published at Sun, 24 Mar 2019 04:08:04 +0000

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BitOasis Will List XRP in the Near Future

Cryptocurrency adoption is slowly growing all over the world. More specifically, various countries are regulating bitcoin or preparing to do so. In the UAE region, it seems there is a genuine interest in various cryptocurrencies as well. BitOasis, one of the biggest local exchanges, has announced they will integrate XRP soon. Although no further details were announced, this is a pretty big development. After all, Ripple’s asset is now the world’s second-largest currency by market cap.

It is always interesting to see how cryptocurrency thrives in the UAE region. Although we hardly hear anything from this region, things are progressing nicely. In fact, one of the region’s biggest exchanges will improve its position on the market moving forward. Adding new currencies is always a big step for any exchange all over the world. Surprisingly, this process happens less often than one would assume at this point in time.

BitOasis Confirms XRP Integration

In the case of BitOasis, an interesting addition will occur very soon. More specifically, the company announced they will enable XRP support very soon. Ripple’s native asset has been of great interest to investors and speculators alike. Especially now that the asset reaches new all-time highs, things will get very interesting. It is unclear how much demand for XRP there is in the UAE, though. If BitOasis plans to add it, there must be sufficient demand to make it happen.

we are rolling XRP soon! Stay tuned

— BitOasis (@bitoasis) December 28, 2017

https://platform.twitter.com/widgets.js

One big unknown is when Ripple’s asset will go live on BitOasis. All we know is the information from the above tweet. There is no official timeline for this integration whatsoever. As most cryptocurrency users will know, “soon” has many different meanings in this industry. It may happen next week, or next month, or by Christmas 2018. Either way, it is good to see BitOasis take such an important step forward. Providing more XRP liquidity can only be considered to be a good thing for Ripple’s native asset.

This news comes at an interesting time for the exchange. More specifically, BitOasis disabled deposits and withdrawals for some customers a week ago. This affects users with an EmiratesNBD account. The reason for this drastic step is due to the bank blocking customer transfers and withdrawals. It is not the first time a financial institution takes such a step without any specific reason. Unfortunately, it is one of the issues cryptocurrency enthusiasts have to deal with, for now. It will be interesting to see how the addition of XRP affects this exchange moving forward.

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