Ethereum: USD/ETH (ETH=) Remains Biggest Gainer of Dapps in 2019
Ethereum (ETH) saw the strongest growth in its distributed app ecosystem, breaking the expectations that other projects would displace it. It turned out the primacy of Ethereum was not so easy to dispute, and novel networks promising better and cheaper computation were actually empty, hosting almost no dApps.
Ethereum showed growth in all dApp categories, including gaming, gambling, collectibles, and decentralized finance (DeFi). Ethereum also revealed significant dApp volumes based on token usage, expanding the economy.
#Ethereum is the only ecosystem to nurture dapps in all 4 major categories in 2019!
– Games and Marketplaces account for 50% overall daily activity
– Gambling and High-Risk accounted for 22% activity
– Exchanges accounted for 20% activity
– DeFi accounted for 6% activity#dapps pic.twitter.com/sCBUA79z4x— DappRadar (@DappRadar) December 30, 2019
Networks like Tezos show almost no activity, as well as other alternative platforms that claimed to be “Ethereum killers”. EOS and TRON, on the other hand, saw their dApp activity diminished by the appearance of simulated mining.
Dapp usage may also be limited by large, centralized app storefronts, as Google and Apple may be reassessing their approach to carrying crypto-related mobile apps.
The biggest threat for the Ethereum network will be the activity of HEX. The project still claims to be gathering ETH, while distributing HEX tokens. The scheme may lead to loss of credibility, and subsequently to ETH dumping.
The biggest challenge for Ethereum would be completing its upcoming hard forks, and eventually switching to ETH 2.0. The next network update, though small and relatively straightforward, comes this January 1. The network will push back the difficulty increase, to allow mining to continue at a more regular pace.
ETH market prices will also face challenges in 2019. Recent analysis shows the coin can be weighed down by multiple “whale” wallets, if they decide to sell. DeFi is also a chance to slowly phase off ETH assets.
ETH traded at $133.81, after a relatively robust recovery and a bounce from lows around $125. But ETH has failed the predictions for a more significant rally.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 154.25.
The projected upper bound is: 143.66.
The projected lower bound is: 118.40.
The projected closing price is: 131.03.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 65.0889. This is not an overbought or oversold reading. The last signal was a buy 26 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.66. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 13 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 99. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.
Rex Takasugi – TD Profile
FOREX ETH= closed up 0.650 at 132.120. Volume was 95% below average (consolidating) and Bollinger Bands were 27% narrower than normal.
Open High Low Close Volume___
131.470 132.830 131.140 132.120 3,108
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 129.11 148.04 195.07
Volatility: 48 55 77
Volume: 54,954 58,605 64,873
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX ETH= is currently 32.3% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of ETH= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 2 periods.