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Report: Arab world population reached 359 million in 2017

October 17, 2017 Middle East Monitor 0

The United Nations Population Fund (UNFPA) said Tuesday that the Arab world population has reached 359 million in 2017. According to the UNFPA report the life expectancy at birth for males in the Arab world is 68 years and for females 72 years. The world’s population is expected to reach 8.6 billion by 2030. Read More: UNESCO leadership race exposes rift between Egypt, Qatar With global fertility declining, UNFPA said in its report that gender discrimination in some 160 countries still exists while in countries with a very low overall index one out of every three girls are married before the age of 19 years. The report explained that developing countries annually record nearly 89 million unwanted pregnancies, 30 million […]

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Ether Price Analysis: Eve and Adam Could Be Turning Back the Bulls

October 17, 2017 BitNewz.net 0

Since bottoming out around $200, ether has spent several weeks bouncing back and forth inside an ascending channel:Figure 1: ETH-USD, 4-Hour Candles, Ascending ChannelFor the last month and a half, ether’s trend has been contained within the bounds …

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Ether Price Analysis: Eve and Adam Could Be Turning Back the Bulls

October 17, 2017 Bitcoin Schmitcoin 0

Ether Price Analysis

Since bottoming out around $200, ether has spent several weeks bouncing back and forth inside an ascending channel:

Figure_1 (15).JPGFigure 1: ETH-USD, 4-Hour Candles, Ascending Channel

For the last month and a half, ether’s trend has been contained within the bounds of this ascending channel, where it has continued its bullish rally. However, today (as of the time of this article) it is starting to make moves to aggressively test the lower boundary. Specifically, as ether tests this channel, it is forming a potential reversal pattern called an Eve-and-Adam Double Top.

Figure_2 (12).JPGFigure 2: ETH-USD, 1-Hour Candles, Eve-and-Adam Double Top

At the time of this article, ether is attempting to break the neckline (the pink dashed line) of the massive reversal pattern. Should ether break this neckline, the measured move from this pattern is a $30 move downward, which would ultimately shove ether outside the bullish ascending channel it has been trending within. The price target of the Double Top breakout would bring the ETH-USD price into the upper $200s.

On a macro scale, ether has support along the following Fibonacci levels:

Figure_3 (12).JPGFigure 3: ETH-USD, 4-Hour Candles, Fibonacci Levels

Should the ascending channel break, the above Fibonacci levels will provide support and will need to be tested in order to prove a bearish continuation. As of the time of this article, the Double Top mentioned in Figure 2 is sitting right on the 23 percent retracement values where it is making attempts at breaking it. There is strong support at these values, so if ether can break and hold below $315, it will send a strong bearish signal to the market.

Should the Double Top complete, we can expect a test of the 38 percent retracement values following the break of the ascending channel. At this time, the 4-hour MACD is showing strong bearish momentum on a macro scale, and the market is picking up sell volume.

Summary:

  1. For weeks, ether has been trending within an ascending channel.

  2. Ether is currently in the process of making a strong test of the ascending channel via an Eve-and-Adam Double Top reversal pattern.

  3. If the Double Top breaks downward, we can expect a break of the multi-week bullish channel and a test of the 38 percent Fibonacci Retracement values.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

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Can India Overtake China In The EV Revolution?

October 17, 2017 Jon LeSage 0

India faces a wide chasm between Prime Minister Narendra Modi’s campaign to make sure all new vehicles sold in India are electric by 2030 and actual sales numbers. While India has followed China’s lead to reduce air pollution and oil import dependency in its booming cities, it’s still far away from sales figures that carry any weight. According to International Energy Agency, China registered 336,000 plug-in vehicles last year while India only saw 450 of these new vehicles hit its roads. One major Indian automaker, Mahindra &…

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