- ETH/USD struggles to recover above $200 amid weak momentum.
- Ethereum's creator makes fun out of Roubini's stance as a financial guru.
Ethereum, the second largest coin by market value, hit the lowest level since September 18 at $186 amid global cryptocurrency collapse that took the total cryptocurrency market capitalization below $200B. ETH/USD is changing hands at $195.07, down nearly 7% in recent 24 hours. Ethereum’s current market value is $19.7B, while the average daily trading volume is registered at $1.9B.
Buterin vs. Roubini, a new round
Ethereum's creator Vitalik Buterin dropped another bombshell, predicting the next financial crisis.
"I officially predict a financial crisis sometime between now and 2021. Not because I have any special knowledge or even actually think that but so that I can have a ~25% (or whatever) chance of later being publicly acclaimed as "a guru who predicted the last financial crisis", he wrote in his Twitter account.
While this forecast triggered a lot of discussions in comments, it does look like a mockery of Nouriel Roubini, known as a man who foresaw a financial collapse of 2008-2011. Roubini recently accused him of being a scammer and a criminal who stole ¾ of all available Ethereum coins.
Ethereum’s technical picture
ETH/USD needs to return above $200 handle to get a chance for an extended recovery towards $220 (38.2% Fibo retracement monthly) and $227-$232 congestion zone.
On the downside, a sustainable movement below $190 will open up the way towards Thursday's low of $186 with very little in terms of supports below current price level.
ETH/USD, 1-hour chart
Get 24/7 Crypto updates in our social media channels: Give us a follow at FXStreet Crypto Trading Telegram channel
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. Investors can expect XRP to kickstart a massive rally.
Optimism price outlook with nearly $90 million worth of OP tokens flooding markets on Friday
Optimism volatility has shrunk in the ours leading to the network’s cliff unlock. It joins the likes of dYdX and Sui, which have similar events on their calendars. As token unlocks are often considered bearish catalysts, investors should brace for a reaction after the event.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Retail watches from the sidelines with a bias for shorts
Bitcoin could clear $73,777 peak as BTC bulls resurface. Ethereum might fall 10% before next leg up as ETH RSI teases with sell signal. XRP could lose $0.6000 threshold as Ripple bulls fail to show up.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito price action shows a potential cup and handle formation. Based on theoretical measurement rules, a successful breakout could yield a 56% rally to $6.0. A breakdown of the $3.86 support level would create a lower low for JTO and invalidate the bullish thesis.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.