Ethereum price is attempting a fresh increase above the $3,450 resistance zone. ETH must settle above $3,550 to continue higher in the near term. Ethereum slowly moved higher above the $3,450 zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,520 and $3,550 resistance levels to continue higher. Ethereum Price Faces Resistance Ethereum price started a decent recovery wave above the $3,400 level. ETH even cleared the $3,420 level to move into a short-term positive zone like Bitcoin. There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD. The pair even cleared the $3,500 resistance zone. A high was formed at $3,516 and the price is now consolidating gains. There was a move below the $3,500 level, but the price remained above the 23.6% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high. Ethereum is trading above $3,450 and the 100-hourly Simple Moving Average. The current price action is positive and calling for more upsides. On the upside, the price is facing resistance near the $3,500 level. The first major resistance is near the $3,520 level. The next major hurdle is near the $3,550 level. A close above the $3,550 level might send Ether toward the $3,650 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher. Any more gains could send Ether toward the $3,880 resistance zone. Are Dips Limited In ETH? If Ethereum fails to clear the $3,550 resistance, it could start a downside correction. Initial support on the downside is near $3,480. The first major support sits near the $3,440 zone and the 50% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high. A clear move below the $3,420 support might push the price toward $3,350. Any more losses might send the price toward the $3,320 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,420 Major Resistance Level – $3,550
Bitcoin price is up nearly 5% and there was a move above $62,500. BTC is now testing the $63,500 resistance zone with a positive angle. Bitcoin started a decent increase above the $62,200 and $62,400 levels. The price is trading above $62,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to continue higher above the $63,650 resistance zone. Bitcoin Price Starts Recovery Bitcoin price formed a base above the $60,000 zone. BTC remained stable and was able to start a decent increase above the $61,500 resistance zone. There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $62,500 resistance. It is up nearly 5% and trading near the $63,650 resistance zone. Bitcoin price is trading above $62,500 and the 100 hourly Simple moving average. It is stable and well above the 23.6% Fib retracement level of the upward move from the $59,949 swing low to the $63,675 high. If there is another increase, the price could face resistance near the $63,650 level. The first key resistance is near the $64,000 level. The next key resistance could be $64,400. A clear move above the $64,400 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send BTC toward the $66,000 resistance in the near term. Are Dips Limited In BTC? If Bitcoin fails to climb above the $63,650 resistance zone, it could start a downside correction. Immediate support on the downside is near the $62,800 level. The first major support is $61,800 and the 50% Fib retracement level of the upward move from the $59,949 swing low to the $63,675 high. The next support is now forming near $61,250 and the 100 hourly Simple moving average. Any more losses might send the price toward the $60,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $62,800, followed by $61,800. Major Resistance Levels – $63,650, and $64,400.
Keith Gill is facing a new class-action lawsuit stemming from his recent social media posts. However, a lawyer says the case is likely “doomed” to fail.
Betters on Polymarket have increased their odds Joe Biden will drop out of the U.S. presidential race before November, amid concerns over age.
Bettors on Polymarket have increased their odds Joe Biden will drop out of the U.S. presidential race before November, amid concerns over age.
There are now over $200 million worth of bets on who will win the United States presidential election — now just four months out.
Amber Japan was renamed S.BLOX. The firm is set to expand its services in collaboration with various Sony Group businesses.
The post Sony Group expands crypto trading with Amber Japan’s rebranding appeared first on Crypto Briefing.
Tokens on the Runes Protocol are down from their peak, but don't count them out yet. The protocol is less than three months old — and it's just getting started.
The investment comes after a March commitment to spend $90 billion on a chip fabrication facility near Seoul.
Manipulated trading volumes are rampant on some crypto exchanges. Here are three ways to use data to avoid being washed out.
Crypto enthusiasts have been wondering why no one seems to be buying their coins this cycle. If people could use crypto for something, maybe that would change.
Onchain Highlights DEFINITION: Entity-adjusted relative on-chain volume breakdown by the USD value of the transfers. Bitcoin’s relative transfer volume, when adjusted by entity and categorized by transfer size, exhibits nuanced trends across varying transaction bands. In January 2024, transfers under $1,000 constituted a minor portion of overall activity. Notably, transactions between $1,000 and $10,000 experienced a […]
The post Mid-sized Bitcoin transactions rise, reflecting market maturation and retail growth appeared first on CryptoSlate.
BTC price is likely to face headwinds in July from Mt. Gox repayments that could result in a "bull pennant" breakdown on the charts.
Analysts were split over whether today’s AI investments would pay off in the next decade.
Vitalik Buterin, co-founder of Ethereum, has once again voiced his concerns regarding the state of cryptocurrency regulation, particularly in the US. In response to a user on Warpcast, a decentralized social media platform, Buterin highlighted a regulatory paradox that he believes is stifling the industry’s growth and integrity. Buterin observed that the current regulatory framework […]
The post Vitalik Buterin calls U.S. crypto regulatory approach ‘anarcho-tyranny’ appeared first on CryptoSlate.
July is often a down month for new games as publishers gear up for what's next, but there's plenty that's grabbed our attention this time around.
June was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed. Related Reading: Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong. New BTC Addresses Surge To 2-Month High Despite the price slump, the network is exhibiting a promising trend that signals future growth for the world’s largest cryptocurrency. According to Glassnode chart data initially shared on social media platform X by crypto analyst Ali Martinez, new BTC wallet addresses have risen steadily over the past week to reach 352,124, their highest level since April. Interestingly, the chart shows that the recent uptick in new addresses contrasts with a larger decrease in the creation of new addresses since November 2023. This new increase points to an influx of new users entering the crypto space. As more people adopt Bitcoin, demand will inevitably grow, which is a catalyst for price surges down the line. Furthermore, Martinez suggested that the uptick in new addresses is from retail investors making a comeback. While institutional investors often drive major market moves, retail interest is crucial for Bitcoin’s mainstream adoption. Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0 — Ali (@ali_charts) June 29, 2024 A major part of the increase in new addresses can be attributed to recent adoption in the Brazilian market. Nubank, Brazil’s biggest neobank, recently announced plans to integrate Bitcoin’s lightning network into its services. As the largest fintech bank in Latin America, this integration could potentially expose a significant portion of its 100 million customers to the digital asset. What’s Next For Bitcoin? At the time of writing, Bitcoin was trading at $61,446. The leading digital asset has lost over 10% of its market cap in a 30-day time frame and the bulls are struggling to break above $61,000. This downtrend could be attributed to a selloff by miners and many long-term holders. Specifically, around 40,000 BTC were sold by long-term holders in June. Bear markets are temporary. Bull runs will return. It’s just a matter of when, not if. With the second half of the year now approaching, time can only tell how the price of Bitcoin unfolds. Of course, new wallet addresses don’t directly impact price, but they are a leading indicator of growing Bitcoin adoption. Related Reading: XRP Year-Long Curse Broken? Analyst Bullish On Crypto’s 240% Rally This adoption and demand, coupled with a recent decrease in the number of new Bitcoins entering the market, points to an increase in the price of Bitcoin in July. Featured image from CNBC, chart from TradingView
Telegram game PixelTap lets you battle robots to earn coins ahead of a token airdrop on TON—and you can earn way more with this easy bonus.
Nigerian data and policy analyst Obinna Uzoije noted that a unified regulatory framework for all ECOWAS member states would offer potential crypto investors much-needed clarity.
The price of PEPE fell drastically on Saturday to reverse some of its gains earlier in the week. Specifically, this price decline saw PEPE fall to $0.00001088, representing a 7.5% decline in 24 hours. While PEPE’s price problems are part of the broader market downturn, recent whale movement seems to have exacerbated the situation. Related […]
In a move that could reshape the global agricultural landscape, AgriDex is setting out to bring the $2.7 trillion agricultural industry onto the blockchain. In this exclusive CryptoSlate interview, Henry Duckworth, CEO and co-founder of AgriDex, unveils his vision for revolutionizing the way agricultural commodities are traded and tracked worldwide. Fresh off a $5 million […]
The post How AgriDex leverages NFTs to secure agricultural trade: Interview appeared first on CryptoSlate.
The post Altcoins Are Ready To Steal The Spotlight From Bitcoin, Here’s Why appeared first on Coinpedia Fintech News
Recently, altcoin holders have faced significant stress due to market movements over the past five weeks. Major shifts and turning points often involve extreme pain and patience, causing many to give up. But one has to remember that altcoins can gain momentum only when Bitcoin dominance decreases. Ethereum ETF discussions are heating up, with approvals …
Ethereum enthusiasts were cruising down the information superhighway towards a July 4th fireworks celebration of a different kind: the launch of the first spot Ethereum ETF. Related Reading: Solana Poised For Epic Reversal? Analyst Spots Bullish Pattern Echoing 2022 Breakout But in a move that worried investors, the US Securities and Exchange Commission threw a big wrench into the works, unexpectedly returning applicants’ proposals and delaying the much-anticipated debut. Missed Exit: Ethereum ETF July Launch Goes Up In Smoke The news came as a shock to many, as market watchers and analysts alike had confidently predicted a July launch, with some even suggesting a celebratory trade on Independence Day. Bloomberg ETF analysts Eric Balchunas and James Seyffart were among those waving the checkered flag a little too early. Their prediction of a July 2nd debut went up in smoke faster than a Roman candle after the SEC decided to put the brakes on the process. Unfort think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to ppl this wk (altho again very light tweaks) and from what I hear next wk is dead bc holiday = July 8th the process resumes and soon after that they’ll launch… https://t.co/0ZQR7yiBLt — Eric Balchunas (@EricBalchunas) June 28, 2024 Insiders claim that the SEC has delayed the anticipated debut date by requesting changes to the S-1 paperwork that issuers have submitted. This unexpected diversion raises serious concerns about the schedule as a whole. Although there are others who anticipate clearance by July 8th, the impending US holiday probably adds another level of difficulty. Uncharted Territory: The SEC Takes The Wheel The lack of a definitive timeline is a major source of frustration for investors and issuers alike. Unlike the previous 19b-4 forms, which mandated a specific SEC decision timeframe, the S-1 filing process gives the regulatory body the freedom to take its sweet time. This essentially hands the steering wheel over to the SEC, allowing them to request revisions and conduct a thorough review without the pressure of a ticking clock. While SEC Chair Gary Gensler has previously hinted at approvals “sometime this summer,” his comments haven’t offered much solace to the jittery market. The recent snafu with the S-1 forms indicates that even a summer launch might be overly optimistic. This lack of clarity is a major hurdle for issuers and creates uncertainty for investors who are eager to jump on board the Ethereum ETF bandwagon. Related Reading: XRP Year-Long Curse Broken? Analyst Bullish On Crypto’s 240% Rally The Road Ahead Even if Ethereum ETFs do eventually reach the finish line, experts predict they might not attract the same level of investment as their Bitcoin counterparts. The perceived lower volatility of Bitcoin, coupled with the already established Bitcoin ETF landscape, might make them a more attractive option for some investors. The SEC’s recent actions have thrown the timeline into disarray, leaving investors and issuers in a state of limbo. While approval might still happen “sometime this summer,” the lack of clarity and the potential for lower inflows compared to Bitcoin ETFs paint a picture of a bumpy ride ahead for these highly anticipated investment vehicles. Featured image from Pexels, chart from TradingView
BTC price action sees uncommon moves for a weekend ahead of Bitcoin's weekly, monthly and quarterly close.
A team of researchers released a study on training AI models to identify and execute brilliant, game-winning chess moves.
Onchain Highlights DEFINITION: The number of unique addresses holding at least a value of $1M USD. Ethereum addresses with balances exceeding $1 million have shown considerable fluctuation over the past six months. The number of such addresses increased sharply from mid-January to mid-March, peaking above 19,500. This period coincided with a significant rise in Ethereum’s […]
The post Volatile trend in Ethereum millionaire addresses highlights market dynamics in 2024 appeared first on CryptoSlate.
The post Bitcoin, Ethereum, And XRP Price Prediction: Will Bulls Make A Comeback This July? appeared first on Coinpedia Fintech News
The cryptocurrency market has displayed a weak price action since the month started, indicating an increase in the selling pressure within the crypto space. Moreover, the global crypto market capitalization has recorded a drop of 10.27% in valuation, from $2.53 Trillion on 1st June to $2.27 on 30th June. Furthermore, the elite cryptocurrencies continue hovering …
It is no secret that Bitcoin miners are currently experiencing significant financial stress, especially following the completion of the fourth halving event. As a result, these vital network participants are being forced to offload their BTC holdings to offset the increasing operational costs. Interestingly, the latest on-chain data shows that the Bitcoin market is experiencing […]
Recent on-chain data shows that substantial amounts of Bitcoin have made their way to centralized exchanges in the last few days. How could this impact the Bitcoin price? Bitcoin Price To Face Further Selling Pressure? In a new post on the X platform, prominent crypto analyst Ali Martinez revealed that Bitcoin investors have been transferring their assets to centralized exchanges in recent days. The relevant indicator here is CryptoQuant’s Exchange Reserve metric, which tracks the total amount of a particular cryptocurrency held on all exchanges. Related Reading: Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium It is worth noting that the value of this metric rises when investors are making more deposits than withdrawals of a cryptocurrency (Bitcoin, in this scenario) into centralized exchanges. Meanwhile, when the metric’s value falls, it means that holders are transferring their assets out of the trading platforms. According to CryotoQuant data, more than 14,000 BTC (valued at approximately $851.2 million) have been sent to crypto exchanges in the last four days. As shown in the chart below, the exchange reserve metric is at its highest level in nearly a month. Typically, an increase in the exchange reserve indicates high selling pressure, as investors often use centralized exchanges to sell assets. Consequently, the movement of huge amounts to trading platforms could exacerbate the downward pressure on the Bitcoin price. Furthermore, the exodus of significant amounts to centralized exchanges could trigger price volatility for the premier cryptocurrency. This would imply an increased likelihood of big price movements in the future. However, there has not been any impact on the Bitcoin price in the past day. As of this writing, the price of the premier cryptocurrency stands at around $60,700, reflecting a bare 0.3% increase in the last 24 hours. Price Rebound Imminent For BTC: Santiment Fortunately, it is not all gloom for the Bitcoin price at the moment. Prominent on-chain analytics platform Santiment has offered a positive outlook for the price of the market leader. According to the blockchain firm, Bitcoin’s recovery following dips in the past two weeks has been short-lived. Santiment believes that a price rebound is imminent for the premier cryptocurrency. The rationale behind this analysis is based on two factors; the recent negative sentiment from the crowd and the low relative strength index (RSI). Santiment said in its post: But note the continued negative sentiment pouring in from the crowd, indicating their patience is wearing thin. This, along with a low RSI of just 36, are strong indications a bounce is close. Related Reading: BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares Featured image from iStock, chart from TradingView
Floki Inu urged its community to obtain token information only from official sources to prevent falling victim to these fraudulent schemes.