CoinMarketCap Forms New Alliance, Announces Stricter Listing Policy

Coinspeaker CoinMarketCap Forms New Alliance, Announces Stricter Listing PolicyCoinMarketCap, a well-known provider of data on digital currencies and tracker of crypto-prices, is celebrating its 6th anniversary and in this regard, some initiatives have been announced. They include a new Data Accountability and Transparency Alliance (DATA), CoinMarketCap Block Explorers, CoinMarketCap Shop, CoinMarketCap API Revised Plans, and CoinMarketCap Mobile Apps. Moreover, CoinMarketCap is changing its listing policy, making it stricter.Data Accountability and Transparency AllianceAs CoinMarketCap’s blog post reads, the alliance aims to promote greater transparency, accountability, and disclosure from projects in the crypto space. As a part of the initiative, CoinMarketCap requires that all exchanges listed on its platform must provide live trading data and live order book data. If an exchange does not provide this mandatory data, it will be removed from the platform’s adjusted volume calculations.There is a 45-day grace period for all exchanges to send the data, as changes will go into effect on June 14, 2019.According to the announcement, a number of exchanges have already joined the Data Accountability and Transparency Alliance. Among them are Binance, Bittrex, OKEx, Huobi, Liquid, UpBit, IDEX, OceanEX,, KuCoin, HitBTC and Bitfinex. In the future, CoinMarketCap is expecting to have more partners.Further CoinMarketCap Steps To Make Crypto Data More TransparentAnother initiative is a brand new block explorer launched to provide information on Bitcoin and Ethereum blockchains and ‘lower the barrier to entry for understanding how to view and interact with the blockchain’.CoinMarketCap said:“You will find with these explorers that the focus is on explaining terms that regular explorers use, to help users understand how to interact and understand the blockchain better. We hope that these explorers will be the gateway to a deeper appreciation and knowledge into blockchains for a bigger audience.”In April, CoinMarketCap released their first Android app and upgraded their Apple iOS product. Now users have access to features which are not available even on the main site yet. The features include candlestick charts, portfolio, side-by-side crypto comparison, price alerts, news, logins, and more.Have you checked out our new 📱 mobile apps yet? Check out some of the cool 👍 features according to Darko @Crypto_Tonight Download it today at: 😃— CoinMarketCap (@CoinMarketCap) April 26, 2019Moreover, CoinMarketCap has lowered its Crypto API price from $33 to $29 per month.Previous Controversy On Traded VolumeThe decision to make the listing policy of CoinMarketCap stricter results from the research conducted by Bitwise Asset Management in March. While CoinMarketCap was praised for providing data about unregulated exchanges and showed approximately $6 billion per day in Bitcoin trading volume, crypto index fund provider Bitwise Asset Management reported that 95% of the volume on unregulated exchanges was likely to be fake.At that time Bitwise also said that futures aside, the true spot market for Bitcoin essentially exists on 10 different exchanges conducting nearly $300 million in daily trading volume.In response, CoinMarketCap stated that concerns over inaccuracies were true and that it would be adding more data for its users to make better decisions. Carylyne Chan, global head of marketing at the site, said then that they were planning to include liquidity measures, hot and cold wallet balances and traffic data for listed exchanges.Later, we reported that CoinMarketCap CTO Mauvis Ledford criticized the Bitwise’s report, stating that the research did not state any formal methodology to independently rate an exchange by third parties. However, CoinMarketCap decided to alter its listings, and the announcements made by the company seem to be their protection measures against fake data.CoinMarketCap Forms New Alliance, Announces Stricter Listing Policy

3 Essential Strategies on How to Become a Successful Blockchain Developer

Coinspeaker 3 Essential Strategies on How to Become a Successful Blockchain DeveloperAlong with artificial intelligence, blockchain technologies are developing at a high rate today. This pace only increases every year; hundreds of new startups emerge, and the largest banks are introducing these technologies into their processes.For example, the banking giant JPMorgan Chase decided to launch its own cryptocurrency, focusing on the international settlements of large corporations and secure transactions.Choosing a Programming LanguageIf you are looking for a job involving blockchain development, you should choose the right language for programming. There are many languages and sub-languages – however, the main requirements for a candidate include flawless knowledge of JavaScript, C, C++, and others. You should be able to write simple and comprehensible code, review the code of colleagues and optimize it, and perform other tasks.To summarize all the projects, we’ve built a conditional graph for the demand of languages in blockchain-based development.Pic 1. Most Popular Programming, Scripting, and Markup Languages (%)With strong JavaScript skills, a developer is more likely to learn a new programming language or other necessary talents easily. However, solving specific problems, in most cases, requires unique specialists who’ve mastered rarer languages, such as SWIFT.Readiness to Solve Complex and Non-Standard TasksIf “classical development” runs in a straight line, then the blockchain-based development will resemble steeplechase. And there is a pool of water after each barrier. In other words, your existing set of experience and knowledge will not suffice in the majority of your tasks, since many of these tasks are brand new – no one contended with them before you.In such a situation, it is important to be ready to quickly comprehend the new technology. It does not matter whether we’re talking about Scala coding or learning high-concurrency multi-threaded apps and their synchronization.It is fundamentally important to objectively assess the actual scope of work and your capabilities.A blockchain developer rarely works alone today, even if they’re the only profiled specialist in their company. It is extremely important to find a common language with other developers, as well as with sales and marketing department staff.This communication skill will speed up the execution of tasks and provide an excellent opportunity to avoid misunderstandings, which often lead to the need to introduce changes to an already-made code. Furthermore, lacking this skill would delay deadlines, halting delivery of your part of the work to a technical director.Understanding Business Processes, and Having CuriosityA developer should understand that business decisions affect the development process’ prioritization. By concentrating solely on writing software code, one can easily miss the overall picture and the purpose of the software being developed. For a successful developer, it is fundamentally important to go beyond just coding.The desire to learn something new, go beyond the existing framework, and a willingness to experiment and find new ways to solve old problems, is the fuel feeding the successes and achievements of any blockchain developer.As you can see, it turns out to be quite an impressive list – one that, meanwhile, can hardly be called exhaustive. You can safely supplement it with:Independence.Initiative.Honesty.Diligence.Readiness for criticism and admission of your own mistakes.A lack of fear of working with colleagues who have stronger professional skills.It is safe to say that, by having even a small number of these skills, you’ll have excellent chances at success in the field of blockchain-based development. It is only an emerging field of activity that is full of professional challenges and interesting tasks.3 Essential Strategies on How to Become a Successful Blockchain Developer

Shellbot Malware Reborn: A New Upgrade Destroys Competition

As many new developments for blockchain technology are looming on the horizon, so are many new potential threats. The potentially biggest threat until recently was KingMiner, but now it seems that the Shellbot malware has developed new capabilities of its own.
Threat Stack is a security firm from Boston and they believe that the Shellbot has been recently upgraded and poses a huge risk if left unchecked. According to experts, the Shellbot was operational back in 2005 but the recently added upgrades have allowed it to break into computers and use a huge percentage of their processing power to mine.
What’s interesting is that the Shellbot malware relies on a very old SSH brute force technique in order to break in the computers. It targets mostly Linux servers with a good internet access and weak passwords. After the infection, the Shellbot malware actively scans and removes other malware infections just so it takes more power for its own use.
The Shellbot malware has huge potential
The firm also found a United States company to be infected and the system was shut down until completely cleared. A dropper script was used to install the payload from the Shellbot’s command center which is an IRC chat server. The attackers can freely use the IRC chat to run commands and/or check the infection’s status.
According to some security experts, with a little work, this particular malware can be used to also ransom and destroy huge chunks of data.
Way back in 2005 and 2006, the original version of Shellbot was still oriented towards Linux servers. Now, a little over 10 years later, the malware has apparently found a new purpose, to mine Monero (XMR).
According to a Thread Stack analysis, the current primary goal of the revitalized Shellbot seems to be only monetary gain. Despite the potential of the malware for more serious harm, it seems currently the malware is focused entirely on mining XRP and infection other systems.
You can also check out:

BlockFi Already Manages Over $53 Million: Creating Wealth out of Crypto
Longest Bull Run in History: The Possible Gains and Future Implications
KakaoTalk to Integrate Cryptocurrencies Following Samsung Success
Space Weapons Tested by India: Sci-Fi and Reality Meet

The post Shellbot Malware Reborn: A New Upgrade Destroys Competition appeared first on CoinStaker | Bitcoin News.

7 Best Bitcoin Wallets [Infographics]

Coinspeaker 7 Best Bitcoin Wallets [Infographics]Bitcoin, the king of cryptocurrencies by market cap, is extremely popular nowadays. However, it is not the currency that we can put inside our wallets or just give to a bank. The way of its storage is completely different.Bitcoin wallet is a tool that helps the user to manage Bitcoins easier. It is an optimal solution for people who deal with Bitcoin operations every day be it storage, transactions or withdrawals. The wallet itself does not hold the virtual currency. It is usually used to store private keys (secret number) that provide the user access to his Bitcoin address.The great advantage of Bitcoin wallet is that you have access to your account at any place of the world. However, it is impossible to give 100% insurance for their safety, as almost all the wallets (despite what their producers claim) may become victims of hack or fraud.  Be careful not to lose your devices with wallet installed, watch out virus programs and try to avoid using wallets that require internet connection (these are most often become subject to hacks).There are different types of Bitcoin wallets each having its own requirements. They vary in their approaches to security and convenience. All in all, they can be divided into following sections:overall (daily usage);multicoin (crypto-portfolio management);only for Bitcoin;for ICO participation;online (for web access);multiplatform availability;hardware.In the following infographics by BTCPlayMania, you may find the main characteristics, advantages, main purposes of each wallet, that will help you to choose the most suitable option for you.  7 Best Bitcoin Wallets [Infographics]

EOS Price Likely Setting Up For Crucial Upside Break

EOS price extended losses below the $5.000 support and tested $4.400 against the US Dollar.
The price traded as low as $4.411 and recently corrected above the $4.800 resistance.
There is a crucial bearish trend line in place with resistance at $5.065 on the 4-hours chart of the EOS/USD pair (data feed from Binance).
The pair could start a strong upward move if it settles above $5.000 and $5.080 in the near term.

EOS price is showing positive signs against the US Dollar and bitcoin. The price must settle above $5.080 and gain traction above $5.100 for a strong rebound towards $6.000.
EOS Price Analysis
In the past couple of sessions, there was a decent rebound in bitcoin, Ethereum, ripple, litecoin and EOS price against the US Dollar. Earlier, EOS extended losses below the $5.000 and $4.850 support levels. The price even settled below the $4.800 level and the 55 simple moving average (4-hours). Finally, there was a break below the $4.500 level and the price traded as low as $4.411. Later, there was a decent upward move above the $4.500 and $4.620 resistances.
The price traded above the 50% Fib retracement level of the last drop from the $5.492 high to $4.411 low. The upward move was strong was the price even surpassed the $4.900 level and the 55 simple moving average (4-hours). However, the upward move was capped by the key $5.000 and $5.080 resistance levels. The price also struggled near the 61.8% Fib retracement level of the last drop from the $5.492 high to $4.411 low. Moreover, there is a crucial bearish trend line in place with resistance at $5.065 on the 4-hours chart of the EOS/USD pair.
If the pair gains traction above the trend line, it could even clear the $5.080 resistance. Besides, a successful follow through above the $5.100 level may perhaps clear the path for more upsides in the near term. The next key resistances are near the $5.500 and $5.650 levels. Conversely, if the price fails to settle above $5.100, it could decline once again.

Looking at the chart, EOS price is clearly trading near a significant resistance area at $5.080. If the bulls struggle to gain pace, the price may decline back towards the $4.800 or $4.565 support levels. On the upside, a convincing close above $5.080 is likely to set the pace for a fresh increase above the $5.200 and $5.350 levels.
Technical indicators
Hourly MACD – The MACD for EOS/USD is gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently placed nicely above the 50 level, with positive signs.
Major Support Levels – $4.800 and $4.565.
Major Resistance Levels – $5.080 and $5.200.
The post EOS Price Likely Setting Up For Crucial Upside Break appeared first on Live Bitcoin News.

Amazon Launches Managed Blockchain Service, Nestlé and AT&T Already on Board

Coinspeaker Amazon Launches Managed Blockchain Service, Nestlé and AT&T Already on BoardAmazon‘s cloud computing arm, Amazon Web Services (AWS), launched its Managed Blockchain service for wider use among enterprise clients.The service is aiming particularly to customers who want to “allow multiple parties to execute transactions and maintain a cryptographically verifiable record of them without the need for a trusted, central authority.”The customers can quickly setup a blockchain network spanning multiple AWS accounts with a few clicks in the AWS Management Console. Amazon Managed Blockchain scales to support thousands of applications and millions of transactions using popular open source frameworks.From AWS they said that they are aware that their clients are usually creating blockchain networks using frameworks like Hyperledger Fabric and Ethereum. However, setting up the networks using these frameworks can be difficult and time-consuming because each member has to provision hardware, install software, create and manage certificates for access control, and configure network settings.Amazon Managed Blockchain is a fully managed blockchain service that makes it easy and cost effective for customers to create and manage secure blockchain networks that can scale to support thousands of applications running millions of transactions.Rahul Pathak, General Manager, Amazon Managed Blockchain at AWS said:“Customers want to use blockchain frameworks like Hyperledger Fabric and Ethereum to create blockchain networks so they can conduct business quickly, with an immutable record of transactions, but without the need for a centralized authority. However, they find these frameworks difficult to install, configure, and manage.Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates and security, and scaling the network. Customers can now get a functioning blockchain network set up quickly and easily, so they can focus on application development instead of keeping a blockchain network up and running.”AT&T, Nestle, Accenture Already Using the ServiceArmin Nehzat, Digital Technology Manager, Nestlé Oceania said that with Amazon Managed Blockchain, the company will be able to set up their Hyperledger Fabric network and easily invite their partners to collaborate in our supply chain transparency efforts.“Amazon Managed Blockchain will enable our customers to track their products on the blockchain from the farm all the way through to consumption.”Prasad Sankaran, Senior Managing Director of Accenture’s Intelligent Cloud & Infrastructure business group said:“Blockchain’s unique characteristics are helping to reinvent complex supply chains, improve business processes, and expand the reach and veracity of our digital identities. As the technology continues to take hold, services such as Amazon Managed Blockchain can drive both cost saving and revenue generating opportunities.”Bullish Momentum for AMZN StockIn the past 30 days, Amazon’s stock has increased from $1,500 to $1,926 year-to-date, surging by more than 28.4%. The strong momentum of AMZN led a key technical indicator called the short-term 50-day moving average to surpass a long-term 200-day moving average, flashing the bullish momentum for the stock called “golden cross.”The growth of Amazon in the first quarter of 2019 was primarily triggered by the unexpectedly strong growth rate of Amazon Web Services (AWS), the cloud computing division of the firm.The revenue of AWS surged by 41% to $7.7 billion, pushing the operating income of the division to $2.2 billion.For more than ten years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud computing platform. Today, customers like Apple spend over $30 million a month on the business units services.Amazon Launches Managed Blockchain Service, Nestlé and AT&T Already on Board

Litecoin (LTC) Price Sighting Fresh Increase Above $75

Litecoin price declined towards the $65.00 level before buyers appeared against the US Dollar.
LTC price started a decent upward move and recovered above the $68.20 and $70.20 resistances.
There was a break above a key bearish trend line with resistance at $72.35 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair is likely to climb further above the $73.00 and $75.00 resistances in the near term.

Litecoin price is slowly gaining bullish momentum against the US Dollar and bitcoin. LTC price remains well bid and it could start a strong upward move above the $75.00 resistance.
Litecoin Price Analysis
This past week, there was a downside extension in litecoin price below the $75.00 support against the US Dollar. The LTC/USD pair even broke the $68.20 support and 55 simple moving average (4-hours). As a result, there was a downside extension and the price traded as low as $64.82. Finally, the bulls took a stand and the price recovered above the $68.20 and $69.50 levels. More importantly, there was a proper close above $70.00 and the 55 simple moving average (4-hours).
The price surpassed the 50% Fib retracement level of the last decline from the $79.78 high to $64.82 low. Besides, there was a break above a key bearish trend line with resistance at $72.35 on the 4-hours chart of the LTC/USD pair. There was a spike towards the $75.00 level, where sellers emerged. It seems like the 61.8% Fib retracement level of the last decline from the $79.78 high to $64.82 low is acting as a resistance. At the moment, the price is currently consolidating above $71.00 and the 55 SMA. As long as the price is above $70.00, it is likely to resume its upward move.
On the upside, a successful close above $75.00 and $75.20 may push the price higher. Therefore, the next stop for the bulls could be near the $79.77 swing high. Above $80.00, the price may test the $83.30 level. It represents the 1.236 Fib extension level of the last decline from the $79.78 high to $64.82 low.

Looking at the chart, litecoin price clearly moved into a positive zone, with a close above $70.50 and the 55 SMA. As long as there is no close below $70.00, the price is likely to rebound further. The main hurdles for the bulls are $75.00, $75.20, and followed by $76.25.
Technical indicators
4 hours MACD – The MACD for LTC/USD is losing momentum in the bullish zone, with a few negative signs.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently moving lower towards the 50 level.
Key Support Levels – $70.50 and $70.00.
Key Resistance Levels – $75.20 and $76.25.
The post Litecoin (LTC) Price Sighting Fresh Increase Above $75 appeared first on Live Bitcoin News.

Changpeng Zhao Proposes Cryptocurrency Named SpaceXcoin to Elon Musk

Coinspeaker Changpeng Zhao Proposes Cryptocurrency Named SpaceXcoin to Elon MuskBinance’s CEO Changpeng Zhao took to Twitter calling Elon Musk to make his own coin called ‘SpaceXcoin’ in order that space exploration becomes funded globally using crypto. He says investors shall have their names inked on the blockchain in that way.It’s already known that SpaceX’s and Tesla CEO Elon Musk likes to troll Twitter community because he is obviously aware that every and each one of his tweets are bringing turbulence to everything he’s talking about.Just recently he came (again) in the center of crypto attention when he publicly praised Dogecoin calling it his favorite cryptocurrency.He was also speaking highly about Bitcoin before by saying:“It bypasses currency controls … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”However, it didn’t seem that he is personally interested in some bigger investments. ‘Au contraire’ – he even said that it seems “very energy intensive to create Bitcoin at this point” and it may not be “a good use of Tesla’s resources to get involved in crypto.”By all means Elon, but think about what you could do if you had your own cryptocurrency – made by your own standards? At least those are Binance’s Zhangpeng Zhao’s exact thoughts.He tweeted calling Musk to jump on the crypto bandwagon by teasing a proprietary SpaceX cryptocurrency.Space exploration shall be funded globally using #crypto. Investors shall have their names inked on the blockchain.— CZ Binance (@cz_binance) May 1, 2019Just for a reminder, a few days ago, Musk drew in the entire crypto community to the mass hysteria. Twitter simply said “Ethereum”. Minutes later, Musk jokingly followed up by tweeting “jk (just kidding).”jk— Elon Musk (@elonmusk) April 30, 2019At one point, Musk even asked Ethereum co-founder Vitalik Buterin to explain what can be developed on the Ethereum blockchain. Buterin went on immediately with at least 5 suggestions saying:“My top picks (1): * A globally accessible financial system, including payments, store of value, also more advanced stuff like insurance * Identity: “sign in with Facebook” -> “sign in with an ethereum account, no intermediaries”. Also web of trust…”He also added:(5)* p2p marketplace for internet connections / incentivized mesh networks* Identity, reputation and credit systems for those that currently have few resources (eg. refugees)* Decentralized DNS alternatives (eg.— Vitalik Non-giver of Ether (@VitalikButerin) April 30, 2019Though Musk still didn’t respond to Zhao, the crypto community went with further questioning on which blockchain should this space exploration be done. That is then responded by Binance’s official Trust wallet as “Binance Chain”, which is a recently launched native blockchain by Binance exchange.Elon Musk Satoshi Nakamoto?There were also talks that Elon Musk is the real Satoshi Nakamoto. These suspicions were made mostly on the facts that the 2008 Bitcoin paper was written by someone with a deep understanding of economics and cryptography and Elon has a background in econ and wrote production-level internet software for Zip2 and / Paypal.However, Musk, has denied that he was Satoshi Nakamoto and going on to add that he had lost the Bitcoins which were sent to him a few years back.He even added that Satoshi deserves a Nobel Prize for “delayed gratification,” given that he/she/they owned a fortune in cryptocurrency but never spent a dime, other than for testing purposes.Despite his praise for Bitcoin, Musk says he doesn’t possess any cryptocurrency at this time.However, some people believe that his love for technology and courage to gamble on brave and potentially world-changing ideas makes his future embrace of cryptocurrency inevitable.After all, if someone’s going to take cryptocurrency to the space, it makes sense that it would be the founder of SpaceX.Changpeng Zhao Proposes Cryptocurrency Named SpaceXcoin to Elon Musk

Binance Effect: Cosmos (ATOM) Entering Top 15 Cryptos After Listing

Coinspeaker Binance Effect: Cosmos (ATOM) Entering Top 15 Cryptos After ListingThe Cosmos (ATOM) is the recent entry in the club of top fifteen digital currencies by their market cap. This Proof-of-Stake cryptocurrency atom recently came into limelight after the world’s largest crypto exchange Binance announced its listing earlier this week.Cosmos (ATOM) is now available to trade on Binance with ATOM/BTC, ATOM/BNB, and ATOM/USDT trading pairs. In the last one week, Cosmos (ATOM) price has surged by nearly 40% as the cryptocurrency now trades at $4.46. In the last 24 hours, there’s a huge buying interest with the daily trading volumes surging to $93 million. At the press time, the Cosmos (ATOM) market cap currently stands at nearly $850 million.Getting a place at the world’s largest cryptocurrency currency is like adding a new jewel to the crown. Furthermore, Binance CEO Changpeng Zhao himself tweeted this Sunday that Cosmos didn’t approach the exchange for a listing. Instead, the Binance team seems to be impressed with the Cosmos tech and decided to list it anyway.Here is a project that refused to even talk to an exchange about listing (and we have a good relationship with their tech guys), but we list it anyway.Good tech wins!— CZ Binance (@cz_binance) April 28, 2019The Concept Behind Cosmos (ATOM)Despite a decade of progress in the cryptocurrency and blockchain sector, each crypto token is native to a dedicated blockchain network. Furthermore, there is hardly any technology that supports seamless swapping of tokens between different blockchain networks.Cosmos aims to remove these barriers and develop a worldwide web of blockchains. The Cosmos platform allows developers to create tokens which can be easily swapped from one distributed ledger to another. This is like an internet of blockchains where different distributed ledgers can communicate with each other. Zaki Manian, the chief of the Cosmos project, said:“In proof-of-stake, the costs and rewards [of the system] are internal. So, we had to come up with a very sophisticated system of distributing rewards, of distributing the speculator taxation system, of punishing people for malicious behavior, of punishing people for going offline. All of it has to be internal to the system and that’s why proof-of-stake is such a significant engineering feat over proof-of-work”.The Cosmos project conducted its ICO back in April 2017 and raised around $16 million at that time. Also, during the ICO, the Cosmos (ATOM) token sold at a price of $0.10 USD.Many experts in the crypto community have backed the Cosmos project. Experts suggest that token swaps done in a decentralized manner will give users better control over their holdings.As on date, some of the biggest markets on ATOM trades include Bibox, Hotbit, BitForex, and Binance. As Cosmos makes its way to the top 15 today, we hope for its bright future ahead.Binance Effect: Cosmos (ATOM) Entering Top 15 Cryptos After Listing

Ethereum Price Analysis: ETH/USD Remains Near $167, Forming Downtrend

Coinspeaker Ethereum Price Analysis: ETH/USD Remains Near $167, Forming DowntrendKey Highlights:The Bears are still in control of the Ethereum market;further reduction in Ethereum price continue;the price may reverse at $159 price level in case the level holds.ETH/USD Medium-term Trend: BearishSupply Zones: $167, $178, $186, Demand Zones: $159, $150, $140On the medium-term outlook, ETH is on the bearish trend. The demand zone of $159 hold, the Bears lost the pressure and the Ethereum price bounced. The formation of bullish engulfing candle signaled the increase in the Bulls’ momentum; this propelled the Ethereum price towards $167 level and broke up the level to expose the $178 supply zone.A pin bar formed on May 01 that indicates a bearish reversal of the price; that is exactly what the market is experiencing currently. Ethereum price movement has led to the formation of a descending channel on the 4-hour chart.The coin is directly on the two EMAs and the 21 periods EMAs is trying to cross 50 periods EMA downside to indicate that bearish momentum is ongoing in the ETH market.However, the Relative Strength Index period 14 is above 50 levels and the signal lines pointing down to indicate a further reduction in ETH price. Ethereum is currently heading towards $159 price level.Further increase in the Bears’ momentum will definitely lead to the decrease in Ethereum price that may break down the $159 level to target $150 price level. Should the Bulls defend $159 level, then, Ethereum price will face the north.ETH/USD Short-term Trend: BearishOn the short-term outlook, ETH price is Bearish. The formation of the descending channel on the 1-hour chart is a confirmation of the bearish pressure in the Ethereum market.Ethereum price is bouncing back as it touches the upper and the lower trend line of the channel. The Relative Strength Index period 14 is at 50 levels with the signal line bending up which indicate buy signal which may act as a pullback.Ethereum Price Analysis: ETH/USD Remains Near $167, Forming Downtrend