{"id":384964,"date":"2019-06-04T19:00:41","date_gmt":"2019-06-04T19:00:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=384964"},"modified":"2019-06-04T17:16:03","modified_gmt":"2019-06-04T17:16:03","slug":"ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/","title":{"rendered":"Ongoing Ethereum (ETH) Correction Gives Buyers a Chance to Accumulate"},"content":{"rendered":"<ul>\n<li><em>Ethereum (ETH) drops 3.7 percent<\/em><\/li>\n<li><em>SEC flexibility shall boost innovation<\/em><\/li>\n<\/ul>\n<p><em>The motive of Blockchain.com&#8217;s acquisition of a blockchain startup is to merge knowledge, work towards improving security, and solving interoperability issues. However, that was not enough to move this market. Ethereum (ETH) is down 3.7 percent in the last 24 hours.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>The crypto markets may be shaky, but that\u2019s just about it. Fundamentals and other on-chain developments are bullish. Of the many projects whose tokens are depreciating as analysts root for their recovery, Ethereum (ETH) is among them. The platform promotes the original intrinsic values of blockchain, namely decentralization and transparency.<\/p>\n<p>Although it may not score big on <a href=\"https:\/\/uniquehot.com\/2018\/03\/08\/multi-million-dollar-grants-ethereum-projects-issued-focus-scalability\/\" target=\"_blank\" rel=\"noopener noreferrer \">scalability<\/a>, creators are hard at work to overcome this huge stumbling block. That may explain the high number of developers and <a href=\"https:\/\/uniquehot.com\/2019\/01\/07\/dapps-ethereum-eos\/\" target=\"_blank\" rel=\"noopener noreferrer \">dApps<\/a> launching on the platform.<\/p>\n<p>Meanwhile, what creators have on the project\u2019s road map is an assurance that the network is committed to being a preferred launching pad where projects can securely launch their dApps or even crowdfund. After all, the <a href=\"https:\/\/uniquehot.com\/2019\/05\/15\/bitcoin-btc-capped-us-sec-delay-its-now-a-matter-of-when\/\" target=\"_blank\" rel=\"noopener noreferrer \">U.S. Securities and Exchange Commission (SEC)<\/a> is flexible, executing their mandate while not trying to snuff<a href=\"https:\/\/uniquehot.com\/press-releases\/competition-is-the-fuel-of-innovation\/\" target=\"_blank\" rel=\"noopener noreferrer \"> innovation<\/a>.<\/p>\n<p>Perhaps in line with this development, Blockchain.com acquired <a href=\"https:\/\/slock.it\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Slock<\/a>, a German startup and among the first developers of Ethereum. The goal of this merger is to work towards bolstering security and solve existing interoperability issues.<\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-384953\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?resize=1280%2C1024\" alt=\"Ethereum ETH\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=1280 1280w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/Ethereum-Daily-Chart-June-4.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/uniquehot.com\/2019\/06\/03\/ethereum-eth-slide-back-to-230-or-190-on-the-cards\/\" target=\"_blank\" rel=\"noopener noreferrer \">Ethereum (ETH)<\/a> is down 3.7 percent. Even though under pressure, ETH is nonetheless oscillating within a $60 trade range. Despite liquidation pressure, ETH bulls are in control.<\/p>\n<p>As a result, there is an opportunity for aggressive traders to pick up entries in smaller time frames. However, this condition is valid if ETH trades above $230. The level is immediate support, flashing with the 50 percent Fibonacci retracement level of May trade range.<\/p>\n<p>Other than this, notice that ETH is below the middle Bollinger Band (BB). The flexible support was reliable, and this breach is significant for bears. Should bulls fail to recover and prices close below this mark, then the three-bar bear reversal pattern of May 30<sup>th<\/sup> will be valid.<\/p>\n<p>In that case, prices could fall to $230, providing an opportunity for aggressive traders to enter at a discount. Any close below $230 will invalidate this bullish outlook as ETH correct back to $190 zone in a typical retest.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>From above May 30<sup>th<\/sup>, the candlestick is a reference. It has high trading volumes of 410k against 192k average. For trend continuation, any rally above $300 ought to be with high participation exceeding 410k. Conversely, any meltdown below $230 with high trading volume nullifies this trade plan.<\/p>\n<pre><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) drops 3.7 percent SEC flexibility shall boost innovation The motive of Blockchain.com&#8217;s acquisition of a blockchain startup is to merge knowledge, work towards improving security, and solving interoperability issues. However, that was not enough to move this market. Ethereum (ETH) is down 3.7 percent in the last 24 hours. Ethereum Price Analysis Fundamentals The crypto markets may be shaky, but that\u2019s just about it. Fundamentals and other on-chain developments are bullish. Of the many projects whose tokens are depreciating as analysts root for their recovery, Ethereum (ETH) is among them. The platform promotes the original intrinsic values of blockchain, namely decentralization and transparency. Although it may not score big on scalability, creators are hard at work to overcome this huge stumbling block. That may explain the high number of developers and dApps launching on the platform. Meanwhile, what creators have on the project\u2019s road map is an assurance that the network is committed to being a preferred launching pad where projects can securely launch their dApps or even crowdfund. After all, the U.S. Securities and Exchange Commission (SEC) is flexible, executing their mandate while not trying to snuff innovation. Perhaps in line with this development, Blockchain.com acquired Slock, a German startup and among the first developers of Ethereum. The goal of this merger is to work towards bolstering security and solve existing interoperability issues. Candlestick Arrangement At the time of writing, Ethereum (ETH) is down 3.7 percent. Even though under pressure, ETH is nonetheless oscillating within a $60 trade range. Despite liquidation pressure, ETH bulls are in control. As a result, there is an opportunity for aggressive traders to pick up entries in smaller time frames. However, this condition is valid if ETH trades above $230. The level is immediate support, flashing with the 50 percent Fibonacci retracement level of May trade range. Other than this, notice that ETH is below the middle Bollinger Band (BB). The flexible support was reliable, and this breach is significant for bears. Should bulls fail to recover and prices close below this mark, then the three-bar bear reversal pattern of May 30th will be valid. In that case, prices could fall to $230, providing an opportunity for aggressive traders to enter at a discount. Any close below $230 will invalidate this bullish outlook as ETH correct back to $190 zone in a typical retest. Technical Indicator From above May 30th, the candlestick is a reference. It has high trading volumes of 410k against 192k average. For trend continuation, any rally above $300 ought to be with high participation exceeding 410k. Conversely, any meltdown below $230 with high trading volume nullifies this trade plan. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":344603,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[12865,8323,1946,42703,6743],"class_list":["post-384964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-blockchain-com","tag-eth","tag-ethereum","tag-slock","tag-us-sec"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Correction An Opportunity For The Savvy To Capitalize<\/title>\n<meta name=\"description\" content=\"Fundamental factors alone are supportive of Ethereum (ETH) bulls. That is inspite of less pressure of the last 24 hours. 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If anything, support is at $230.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-04T19:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-04T17:16:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Ongoing Ethereum (ETH) Correction Gives Buyers a Chance to Accumulate\",\"datePublished\":\"2019-06-04T19:00:41+00:00\",\"dateModified\":\"2019-06-04T17:16:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/\"},\"wordCount\":445,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\",\"keywords\":[\"Blockchain.com\",\"ETH\",\"ethereum\",\"Slock\",\"US SEC\"],\"articleSection\":[\"Ethereum\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/\",\"url\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/\",\"name\":\"Ethereum (ETH) Correction An Opportunity For The Savvy To Capitalize\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\",\"datePublished\":\"2019-06-04T19:00:41+00:00\",\"dateModified\":\"2019-06-04T17:16:03+00:00\",\"description\":\"Fundamental factors alone are supportive of Ethereum (ETH) bulls. 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That is inspite of less pressure of the last 24 hours. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ongoing Ethereum (ETH) Correction Gives Buyers a Chance to Accumulate","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain.com","eth","ethereum","slock","us sec"],"dateCreated":"2019-06-04T19:00:41Z","datePublished":"2019-06-04T19:00:41Z","dateModified":"2019-06-04T19:00:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ongoing Ethereum (ETH) Correction Gives Buyers a Chance to Accumulate\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-eth-correction-an-opportunity-for-the-savvy-to-capitalize\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth5.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth5.jpg?fit=1200%2C600\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain.com\",\"eth\",\"ethereum\",\"slock\",\"us sec\"],\"dateCreated\":\"2019-06-04T19:00:41Z\",\"datePublished\":\"2019-06-04T19:00:41Z\",\"dateModified\":\"2019-06-04T19:00:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/384964"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=384964"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/384964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/344603"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=384964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=384964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=384964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}