As Ethereum reaches a significant price milestone of $2,250, its movement within a 24-hour range of $2,151 to $2,271 reflects strong activity in the cryptocurrency market. With a substantial trade volume of $26.82 billion and a market capitalization of $269 billion, Ethereum demonstrates its continued and dynamic presence in the digital currency landscape.
Mixed View from Current Oscillators
Ethereum's current oscillators present a mixed view. The relative strength index (RSI) at 81.5 suggests neutrality, whereas the Stochastic and commodity channel index (CCI) lean toward a more bearish sentiment. These mixed signals from the oscillators indicate a nuanced market sentiment, with traders potentially weighing the robust performance against possible overvaluation concerns.
Bullish Outlook from Moving Averages
The moving averages present a unanimously bullish outlook for Ethereum. Exponential moving averages (EMAs) and simple moving averages (SMAs) across all periods (10, 20, 30, 50, 100, 200 days) advocate a strong positive position. This consensus among moving averages highlights an underlying strength in Ethereum's price trajectory, suggesting sustained trader confidence.
Uptrend and Volatility in Price Action
The 4-hour chart underscores a clear uptrend, characterized by higher highs and lows, indicative of bullish momentum. The 15-minute chart reveals more granularity in Ethereum's price action, showing notable volatility. The chart displays a bullish reaction after a drop, suggesting a potential entry point during rebounds. However, the smaller subsequent candles and volume spikes point to moments of indecision, highlighting the need for cautious short-term trading strategies.
Bull Verdict
Ethereum's current market indicators, particularly the strong signals from moving averages, suggest a continuing bullish trend. The consistent buying signals across various timeframes indicate sustained trader confidence and potential for further price appreciation.
Bear Verdict
Despite the overall bullish indicators, the mixed signals from oscillators cannot be overlooked for a cautious bear perspective. The high RSI and mixed messages from the Stochastic and CCI hint at possible overvaluation risks and potential market saturation. Short-term volatility, as seen in the 15-minute chart, suggests a precarious market that could be prone to sudden corrections.
What do you think about Ethereum's market action on Monday morning? Share your thoughts and opinions about this subject in the comments section below.
Frequently Asked Questions
What is the best precious metal to invest in?
This depends on what risk you are willing take and what kind of return you desire. While gold is considered a safe investment option, it can also be a risky choice. You might not want to invest in gold if you're looking for quick returns. You should invest in silver if you have the patience and time.
If you don’t want to be rich fast, gold might be the right choice. Silver may be a better option for investors who want long-term steady returns.
Can I keep a Gold ETF in a Roth IRA
A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).
A traditional IRA allows for contributions from both employer and employee. You can also invest in publicly traded businesses by creating an Employee Stock Ownership Plan (ESOP).
An ESOP can provide tax advantages, as employees are allowed to share in company stock and the profits generated by the business. The tax rate on money that is invested in an ESOP is lower than if it was held in the employees' hands.
A Individual Retirement Annuity is also possible. An IRA allows for you to make regular income payments during your life. Contributions to IRAs do not have to be taxable
Who holds the gold in a gold IRA?
An individual who has gold is considered to be a “form of money” by the IRS and subject to taxation.
You must have at least $10,000 in gold and keep it for at most five years to qualify for this tax-free status.
Gold can be used to protect against inflation and price volatility. However, it is not a good idea to own gold if you don't intend to use it.
If you plan to eventually sell the gold, you'll need a report on its value. This could impact the amount of capital gains taxes your owe if you cash in your investments.
It is a good idea to consult an accountant or financial planner to learn more about your options.
How much gold do you need in your portfolio?
The amount of money you need to make depends on how much capital you are looking for. Start small with $5k-10k. As you grow, you can move into an office and rent out desks. This way, you don't have to worry about paying rent all at once. You just pay per month.
It is also important to decide what kind of business you want to run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. This is why you should consider what you expect from each client if you're doing this kind of thing.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. So you might only get paid once every 6 months or so.
You need to determine what kind or income you want before you decide how much of it you will need.
I recommend starting with $1k-$2k in gold and working my way up.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
bbb.org
irs.gov
finance.yahoo.com
cftc.gov
How To
The History of Gold as an Asset
Gold was a currency from ancient times until the early 20th century. It was accepted worldwide and became popular due to its durability, purity, divisibility, uniformity, scarcity, and beauty. Aside from its inherent value, it could be traded internationally. Because there were no internationally recognized standards for measuring and weighing gold, the different weights of this metal could be used worldwide. One pound sterling, for example, was equivalent in England to 24 carats, and one livre tournois, in France, to 25 carats. A mark, on the other hand, was equivalent in Germany to 28 carats.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. The result was a decrease in foreign currency demand, which led to an increase in their price. The price of gold dropped because the United States began to mint large quantities of gold coins. The U.S. government was unable to pay its debts due to too much money being in circulation. They decided to sell some excess gold to Europe in order to do this.
Since most European countries were not confident in the U.S. dollar they began accepting gold as payment. However, after World War I, many European countries stopped taking gold and began using paper money instead. The gold price has gone up significantly in the years since. Today, although the price fluctuates, gold remains one of the safest investments you can make.
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By: Jamie Redman
Title: The Market Action of Ethereum: Analyzing the Bullish and Bearish Signals
Sourced From: news.bitcoin.com/ethereum-technical-analysis-eths-strong-averages-clash-with-oscillator-signals/
Published Date: Mon, 04 Dec 2023 13:45:36 +0000
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