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How To Read Ethereum Price Charts

Ethereum is the talk of the crypto space right now, even outperforming Bitcoin and much of the rest of the market by a wide margin. Ethereum pr…

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How To Read Ethereum Price Charts

Ethereum is the talk of the crypto space right now, even outperforming Bitcoin and much of the rest of the market by a wide margin. Ethereum price is skyrocketing, reaching as high as $4,000, and is still climbing sharply by the day.

Newcomers are flocking to crypto by the droves, and the rising interest and demand are driving up prices faster than anyone can keep up with. Keeping track of prices is just one piece of the puzzle that is technical analysis and is the stepping stone to learning more about markets and what to expect from them.

Using powerfully trending Ethereum as an example, we’re going to walk you through how to read a price chart and explain all of the information it can provide.

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Also Read: Cryptocurrencies to be accepted by various businesses as a source of payment

Green Versus Red: What Are Japanese Candlesticks

Even if you are new to crypto, chances are that you’ve spent some time searching social media, Reddit, or even Google for information regarding your favorite coins. Twitter is filled with laser-eye profile pics representing their love for Bitcoin. Ethereum users tend to be more focused on things like DeFi or NFTs.

Whatever the community is chatting about, frequently, users will share price charts with either candlesticks or squiggly lines on them, which are aptly named line charts. Those “candlesticks” we mentioned aren’t for a day at the spa – instead, they’re an essential indicator that provides information on open, high, low, and close.

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The shapes and sequences in which these candles form can provide a wealth of data about what’s potentially to come in the days ahead. For example, suppose Ethereum bulls close a daily with a massive green candle that fully engulfs the previous red candle. In that case, there’s a higher probability that the price action could soon reverse.

Depending on the timeframe, the signal can be weaker or stronger. The shorter the timeframe, expect the reaction to be smaller when the pattern resolves. Across high timeframes, there’s a potential to spot a trend-changing move.

Technical Indicators Improves Probabilities Of Profit

Below, or often layered on top of price action, are what are called technical indicators and oscillators. Oscillators refer to any tool that measures data between two extremes, while indicators are far more complex. Oscillators, for example, can signal when assets are oversold or overbought.

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Indicators can have many visual attributes to them, such as the Bollinger Bands, which consist of a simple moving average and two standard deviations of the moving average acting as the upper and lower “bands.”

Some of the most popular technical indicators used in crypto and Ethereum are the MACD, Relative Strength Index, Average Directional Index, Ichimoku, and more. All of these indicators are available on PrimeXBT, built directly into the on-platform charting software.

Charting Your Way To Success With Built-In Tools At PrimeXBT

Relying on these indicators in combination with Japanese candlesticks and price patterns can further improve probabilities and lower risk. Chart patterns in geometrical shapes also have a hit rate and measure rule that can be applied to produce some expected results. These results aren’t always conclusive, but it is certainly better than simply guessing when or at what price to enter or exit a position.

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Price charts are also how traders understand where support and resistance lie, which would be exactly where positions should be opened or closed. The goal of any trader is to long support and buy resistance, placing stop losses below or above the defined level for risk management. How much capital to apply is always based on risk appetite and how much money you can comfortably afford to lose.

Also Read: Justifications why bitcoins qualify to be currencies

Finally, each chart typically has some additional information at the top, related to the exchange or trading platform, the timeframe chosen – such as one day, one week, etc. – and what the trading pair is and recently traded at.

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Ticker symbols represent each asset in a trading pair, or in the case of Ethereum is ETH. ETH typically trades against both USD and BTC. Both pairs are included on PrimeXBT, an award-winning multi-asset cryptocurrency trading platform offering more than 50 different trading instruments under one roof. 

The massive lineup of assets consists of the likes of Ethereum, Bitcoin, forex, gold, oil, and more. Using BTC, ETH, or stablecoin-based margin accounts, traders can go long or short the market at any time, using very little starting capital with PrimeXBT.

Moreover, the charting software at PrimeXBT is provided by TradingView – the industry gold standard for price prediction tools, indicators, and much more. It also leaves one less reason behind leaving PrimeXBT’s one-stop-shop trading platform.

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Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

Trouble for Microsoft and OpenAI over copyright infringement is not coming to an end, as they face several lawsuits for violating copyrights.

On Tuesday, eight US newspaper publishers sued Microsoft for illegally reusing articles in AI products.

The 98-page long lawsuit further accused the tech companies of attributing erroneous information to the publishers.

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The eight newspapers that have filed the lawsuits include the New York Daily News and the Chicago Tribune.

They allege that OpenAI’s ChatGPT used their copyrighted articles to perfect its language models without permission.

The lawsuit was filed in a New York federal court on Tuesday. The publishers claim that OpenAI’s large language models, GPT-2 and GPT-3, were perfected using datasets containing text from their newspapers.

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The language models are designed to produce text based on human inputs and reproduce copies of the publishers’ works. Microsoft has been indicted for using newspapers for its Bing search index but seldom provided links to the original articles. Four months ago, The New York Times also filed a lawsuit against OpenAI, accusing the tech giant of using data from its past content. It also asked for consent for usage, criticizing the use of full article excerpts in chatbot responses.

The latest lawsuit filed by the eight news outlets also demanded consent and fair value for using their content to perfect the AI language models. The lawsuit alleged that the AI tools literally regurgitate their content without directing users to the content source.

The lawsuit filings stated, “This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot.”

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The eight newspapers that instituted the lawsuits are as follows:

  • The New York Daily News and The Chicago Tribune, both owned by Alden Global Capital
  • The Orlando Sentinel
  • The Sun Sentinel
  • The San Jose Mercury News
  • The Denver Post
  • The Orange County Register
  • The St. Paul Pioneer Press

OpenAI’s Response

OpenAI did not directly respond to the accusations but stated that it takes great care to support the news and media outlets. It also stated it is in continuous partnerships and conversations with various news outlets around the world to explore new opportunities, discuss problems, and seek out solutions.

Microsoft also stated that OpenAI has entered into fruitful partnerships with a number of publishers, which includes The Financial Times, The Associated Press, Spanish conglomerate Prisa Media, and Germany’s Axel Springer.

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

Who is Alan Patricof?

Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.

Alan Patricof Career

Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.

Alan Patricof’s Net Worth

As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.

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Alan Patricof Age

Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.

Alan Patricof Family: Wife and Children

Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.

Alan Patricof Height and Weight

While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.

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Also Read: Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Net Worth

Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Also Read: Dave Ramsey Net Worth 2024: How Much is American Radio Personality Worth?

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