Ethereum Vulnerable, ETH Price Below Three-Month Support

Ethereum (ETH) is down 3.2 percent
Omar Reyes, a candidate vying for a Congress seat in Florida, wants to issue an Ethereum token

Bitcoin (BTC) Price Weekly Forecast: More Downsides Likely
Sunday November 10, 2019

After consolidating above $9,000, bitcoin declined heavily against the US Dollar. The price is currently trading in a bearish zone, with a close below $9,000 and $8,920. There was a break below a major...

The post Bitcoin (BTC) Price Weekly Forecast: More Downsides Likely appeared first on 12bitplay - Bitcoin Play.

Props, an ERC-20 token, is compliant with a key regulation. As a result, investors can have a financial stake in the issuing company following SEC qualification. As of the time of writing, bears are in control after the July 11th’s breakout below the main support trend line.
Ethereum Price Analysis
Fundamentals
Well, it appears as if blockchain is not immune from politics. The disruptive platform may have a global reach, but recent comments from President Trump, for example, is amplifying public curiosity.
While digital assets are resilient with no point of weakness, jurisdiction-specific laws bind project launching on Ethereum or similar platforms. That is the precise reasons why a candidate vying for a Congress seat in Florida Omar Reyes is seeking approval from the U.S. Election Authority.
His idea is to issue an ERC-20 token, the Omar2020, in a bid to incentive volunteers on his campaign trail. A report by CoinDesk reveals that Omar’s team sent a letter to the Federal Election Commission (FEC).
Meanwhile, the U.S. Securities and Exchange Commission (SEC) is granting You Now’s token,  known as “Props”, a Reg A+ qualification. Talking to TechCrunch, Props chief executive Adi Sideman said:
“Our offering of Props is the first consumer-facing offering of ‘Howey tokens’ to be qualified by the SEC. It makes it the first offering of consumer-oriented utility tokens that the SEC deems compliant, outside of Bitcoin and Ether.”
He adds that:
“We used Regulation A+ (Reg A) for this qualification, so that Props may be earned by, and provide the functionality to, non-accredited investors, users, apps and validators, in compliance with U.S. regulations.”
Candlestick Arrangement

Ethereum (ETH) Holding Key Support But For How Long?
Wednesday November 13, 2019

Ethereum price is trading nicely above the key $182 and $180 support levels against the US Dollar. The price is currently facing many resistances such as $187, $188 and $190. Recently, there was a...

The post Ethereum (ETH) Holding Key Support But For How Long? appeared first on 12bitplay - Bitcoin Play.

Unlike Bitcoin, which is stable and trading above critical support levels, ETH is vulnerable. While fundamentals are bullish, the fact that prices are now trading below two levels of support is bearish.
That divergence alone means that in the medium-term prices may recover. However, for now, sellers are in the driving seat. Because of yesterday’s draw down confirming June 26 and 27 double bar bear reversal pattern, bears have the upper hand.
As such, every high is technically a selling opportunity with the first target at $230. Note that behind yesterday’s break out is increasing trading volumes cementing the outlook from this trade plan.
Technical Indicators
Anchoring this trade plan is July 12th’s bearish candlestick. It is conspicuous as it breaks below the main support trend line with above-average trading volumes of 220k against 137k. To sustain bears, it will be ideal that further losses be with increasing participation revealing sell-offs in lower time frames.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Manny Pacquiao Token to Launch in IEO on GCOX Exchange
Tuesday November 12, 2019

Filipino boxing champion Manny Pacquiao made international news headlines recently when he announced he was issuing his own cryptocurrency, the PAC token. Now, the PAC token is following the 2019 crypto crowdfunding trend by...

The post Manny Pacquiao Token to Launch in IEO on GCOX Exchange appeared first on 12bitplay - Bitcoin Play.

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