Smartcontracts
ETH looks too bullish Then BTC, Eth could on the way to 10k!!#ETH (weekly update)
Trading suggestion:
".After ABC correction retracement done ETH its on way to Major Wave3 on board."
". if it will break 21 WMA then ETH could start its new really from here."
Technical analysis:
. ETHUSDT is try to pervious ATH , and the beginning of an uptrend is expected.
. The price is touched the 21-Weekly MA, which acts as a dynamic support and nicely bounced.
. The RSI is at 62 and bounce from its support line which shows bull is upper hand right now.
Take Profits:
TP1= @ 5665
TP2= @ 8711
SL= below 3500 usdt on daily closed bases
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hidden crab?crab harmonic pattern:
X=$2
AB=0.38 XA
BC=0.38 AB
1.6 BC=$0.0429
2 BC=$0.0628 *third support*
2.24 BC=$0.0797 *second support*
2.6 BC=$0.115 *first support*
0.61 XA=$0.128
3.6 BC=$0.313 *first resistance*
0.78 XA=$0.437 *second resistance*
0.88 XA=$0.9 *third resistance*
1.13 XA=$5.32
6.85 BC=$7.76
1.27 XA=$14.93
1.41 XA=$40
1.6 XA=$184 *moooooooooooooooooooooooooon*
Chainlink: Cooler Minds PrevailIf blockchain technology is game changing, isn't the technology that will 'LINK' offchain data to the blockchain going to be pretty valuable?
We have seen many 'hyped' products and meme coins run amuck, we have observed incredible game changing financial products like Ethereum begin to dominate.
It is rare in an emerging market full of hype and memes to find a value play. But that is what we are looking at gents - a product that is fundamental to the long-term growth of the digital currency revolution.
Chainlink is the gold standard of oracles, with the only other peer perhaps comparable being CTSI. The smart contracts on Ethereum are game changing, but the bridge between offchain data and the blockchain is the game maker. And that bridge is two fold, getting off-chain data into the blockchain, and likewise acting as a gateway between the blockchain and offchain systems - like in all practicality integrated directly into a companies ERP system.
Let's say you are in a country with faulty institutions (the entire world takes a big sigh as we can all relate to insurance claims not being paid for any good reason for example) - through smart contract technology both parties can agree to the third party that provides the input determinant and then have a trustless insurance product for example make the payout. i.e.
Example 1
A small farmer wants crop insurance.
Agrees with a vendor online to make payments for crop insurance and if it does not rain in 20days he gets an automatic and timely payout via the smart contract.
The smart contract almost like an escrow account holds the pending capital and the oracle finds an agreed upon third party that takes the offchain data (the weather) and bridges it to the blockchain
20 days of no rain, and the farmer gets his payout and the smart contract automatically executes, and he can spend his time worrying more about farming, then filing insurance claims with a poorly run institution armed with - people.
Example 2
A gentleman wants to play a game of online poker vs a gentlewoman
Both parties rather than relying on a faulty, untrustworthy centralized casino can play against each other directly via 'trustless' ai
The draws online are actually fair, and the payout is made automatically as the capital is released from being locked up from the smart contract, as the oracle feeds the inputs of the draw
I'm sure there are innumerable additional examples, and perhaps you could explain an even better one, or offer clarity on the two I outlined - the point is that the future is very bright and ChainLink is going to aid in rushing it in.
Plus, the technical analysis for Chainlink are fantastic right now and indicative of us being able to run with a value play in an emerging market.
Chainlink has already achieved it's 2017 goal of becoming the #1 oracle for decentralized applications.
Chainlink already is underway with Chainlink 2.0 research.chain.link
ChainLink 2.0 will enable 'hybrids' which will essentially enable smart contracts to compute off the layer-1 blockchain and onto itself - the decentralized oracle network which will greatly mitigate down the excessive costs right now especially related to complex transactions in a heavily congested network.
One negative to be observed is simply the slope of the 20dma (red line)
end of E wave is near to start the 3rd waverising channel seems a bearish pattern with $24K target but since it is in the bottom of the big pattern it could be bullish. the 3rd wave could start from these prices and reverse at $420 with crab harmonic pattern.
Fibo levels:
1.6 BC=$31146
2 BC=$51178
1.6 XA=$62000
2.24 BC=$69917
2.6 BC=$114287
2 XA=$125288
2.24 XA=$194848
2.6 XA=$390000
3.6 BC=$420000
Ethereum new All Time High soon!!Technical Analysis: #Ethereum Update(4hrs chart)
From 30th September 2021, ETH has been in an uptrend forming a nice rising wedge pattern. Since then, ETH has increased 75% with a new ATH of $4868 which is quite commendable.
Current situation: ETH is back inside the uptrend channel which shows some positive momentum.
Could this mean a new ATH for Ethereum?
It is possible only if ETH stays above the lower trendline and the support level.
What's next?
Things may fall apart if ETH breaks below the lower trendline ($4.5k to $4.6k). So, it must hold the levels to continue the uptrend. ETH trading above the 50 MA and 21 MA and enter the safe zone now. We might also see a new ATH on ETH soon if the pattern continues.
Note: ETH drives almost all the altcoins so if ETH goes bearish, the rest of the altcoins will follow and the same for the bullish move.
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ETH too expensive for Smart ContractsETH has become too expensive for Smart Contracts. This is because its poorly designed and hugely inefficient. Look for something else to replace it. And as DeFi is still growing, whatever replaces it will receive huge demand. This chart compares against BTC which isn't necessarily the beneficary of that, just a crypto baseline to measure ETH's fall.
Still More Steam Left for 3rd Elliot WaveI expect this bullrun to continue potentially well into mid-November before a larger correction in which case I will be accumulating more Sol. No bearish signs on RSI. Notwithstanding any major price drops in ETH I think this thing has some more steam to push higher.
This is not financial advice.