Ethereum Price Analysis: ETH Could Rally Again Unless It Breaks $195
Stolen Trezor, Ledger and KeepKey Databases Are a ‘Scam,’ Says SatoshiLabs
S&P 500 Moves Above $3000 Defying Naysayers, Bitcoin and Altcoins to Follow?
Bitcoin, Gold are Not Rising Because of Major Market Manipulation
FOMO Risk? THETA Outpacing Bitcoin With 1000% Gains Since March Crash
Chain Reaction - Ian Cassel: A Legendary Investor’s Search For A 100-Bagger
Number of Countries Seeking IMF Bailout Nears 100
Bitcoin [BTC] Prepares for Volatility with CME Contracts Expiration this Week
Bitcoin Must Break $9,100 To Avoid A Major Downtrend: Here’s Why
BTC/USD Retraces Higher from 2-Week Lows: Sally Ho's Technical Analysis 26 May 2020 BTC
Bitcoin Derivatives Data: After 15% Crash, BTC Is on the Verge of Recovering
Bitcoin Price Hits Two-Week Low, Garnering Interest from Small Investors
Over 310,000 Bitcoin has Left Exchanges Since “Black Thursday”
Power Ledger Extends Blockchain-Based Energy Trading to Thailand
Bitcoin’s Break Below a Key Level has Opened the Gates for a Move to $5,900
Bitcoin Could Confirm Recent Decline as a “Huge Bear Trap” if It Reclaims $9,200
Khloe Kardashian’s Trashy Behavior Is Co-Signed By Tristan Thompson
Bitcoin Miners Spark Second Capitulation Of 2020. How Long Will It Last?
Persona: Stephen Cole
Meghan Markle & Prince Harry Will Not Find Relief in New York City
Visa Approves New DeFi-Enabled Crypto Card in EU and UK
Swiss Government Supports Blockchain Startups Offering Over $10 Million USD The Top 5 Cryptocurrencies to Mine  Coldplay Bassist Launches Into Cryptocurrency, Backing New App The Coinbase Pump: OmiseGo (OMG) Sees A Massive Surge JPMorgan: Digital Currency Threat To Dollar Domination Coinbase Adopts A Remote-First Approach After Lockdown Lifts Bank Of France Successfully Launches Blockchain-Based Project Supernodes Across Europe Attacked By Cryptojackers To Illicitly Mine Monero Andreessen Horowitz On Crypto Entrepreneurs: “Excited To See What They Build” Elon Musk Confirms He Still Owns “Only 0.25 Bitcoin” Lambo 2020: Stamped In Time With New Collectable
Elon Musk & Grimes Are Using Their Son’s Name as a Selfish Art Experiment
Ethereum’s Macro Bear Structure Strengthens as Analysts Eye a Massive Decline
Spot-Driven Retail Selling Sparked Sunday’s Bloody Bitcoin Selloff
Ethereum’s On-Chain Data Suggests ETH Is Significantly Undervalued At Current Price Levelsopen_in_new
Since dropping sub-$100 in the March catastrophe, ethereum bulls seem to be on a tear the past few days. The top altcoin is up more 20 percent since yesterday to trade at over $170. Yet, according to one key metric, ETH is still undervalued.
ETH bulls are finally reawakening after last month’s unprecedented slaughter. The bullish momentum intensified yesterday (April 6) as it obliterated the resistance at the $160 level.
The second-most valuable cryptocurrency in the world is also painting a mini-parabola structure on the daily chart. If this structure holds, ETH could soon surge higher. Moreover, a weekly close above $150 will justify further upside movements for the ethereum price.
$ETH $ETHUSD #Ethereum – 1D Meanwhile, Ethereum has been printing a mini-parabola#Crypto https://t.co/lltNehRlQw pic.twitter.com/WKLJtPXfHg
Ethererum has noticeably outperformed bitcoin (BTC) today after rallying 11.01% in the past 24-hour period. BTC, on the other hand, has gained a mere 3.60% over the same timeframe. The king of cryptocurrencies is now trading at $7,374.90 after briefly tapping $7,400.
Although ETH has seen an impressive rally since yesterday, the asset remains undervalued at the current prices.
Glassnode -an on-chain research and analytics firm- recently noted that ETH’s MVRV ratio is currently below 1. An MVRV ratio is calculated by dividing the market value by the realized value and is used to examine an asset’s “fair value”. This is subsequently used to determine whether or not an asset is undervalued.
As per the firm, this ratio currently stands at 0.8, suggesting that ETH is currently undervalued in spite of the recent phenomenal recovery. Ethereum’s realized price is $202 but the coin was changing hands at $164 at the time the firm made the observation. ETH is trading at around $172.21 at the time of publication, meaning it is still undervalued.
#Ethereum's MVRV Ratio, a metric used to assess if price is above or below "fair value", currently sits at 0.8 – indicating that it is currently undervalued.$ETH's realized price is currently $202 while current market value is $164.https://t.co/1Ds0PoTar9 pic.twitter.com/etfwk8t4WW
Ethereum remains bullish in the medium to long-term. The launch of the long-waited ETH 2.0 is slated for July this year which is just a little over three months away.
This upgrade includes a series of updates aimed at improving speed and scalability and also to transition the ethereum protocol to a Proof-of-Stake (PoS) model from the present Proof-of-Work (PoW). ETH 2.0 realization adds to the bullish case of the ethereum blockchain.
In the near-term, analyst Crypto Michael sees more upside potential for ETH on the USD pair as well as the BTC pair. With the USD pair, he expects the crypto-asset to surmount $195 after overcoming $159.
$ETH #ETHEREUM Crucial levels coming up here. The $BTC pair: Breaking and flipping 0.022 area would justify continuation towards 0.025. The $USDT pair: Breaking and flipping $159 would justify movements towards $195. pic.twitter.com/sUVze8YLcx
Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram
The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.