Ethereum price is still facing many hurdles near $3,200. ETH could start another major decline if the price stays below $3,200 and $3,280. Ethereum is struggling to recover above the $3,200 resistance zone. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if there is a close below the $2,900 support zone. Ethereum Price Consolidates Ethereum price found support and attempted a recovery wave above the $3,000 resistance zone. ETH was able to climb above the $3,200 level. However, the bears were active near the $3,280 resistance zone. A high was formed at $3,278 and the price reacted to the downside, like Bitcoin. It dipped below the 23.6% Fib retracement level of the upward move from the $2,536 swing low to the $3,278 high. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,100 level. There is also a key bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD. The first major resistance is near the $3,200 level and the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The next key resistance sits at $3,280, above which the price might rise toward the $3,350 level. The key hurdle could be $3,500, above which Ether could gain bullish momentum. In the stated case, the price could rise toward the $3,620 zone. If there is a move above the $3,620 resistance, Ethereum could even climb toward the $3,750 resistance. Another Decline In ETH? If Ethereum fails to clear the $3,200 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,900 zone or the 50% Fib retracement level of the upward move from the $2,536 swing low to the $3,278 high. The next key support could be the $2,710 zone. A clear move below the $2,710 support might send the price toward $2,650. Any more losses might send the price toward the $2,550 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $2,900 Major Resistance Level – $3,200
A Nebraska man has been indicted with several criminal charges by the New York authorities for allegedly conducting a $3.5 million crypto scheme. The press release revealed that the accused could face up to 30 years in prison if found guilty. Related Reading: Prepare For The Bitcoin Supply Shockwave: Crypto Guru Warns Of Halving Impact […]
In recent months, Sam Altman’s open-source protocol Worldcoin (WLD) has faced increasing legal challenges as Portugal and Spain cracked down on its biometric data collection practices. Argentina has joined the list, issuing an indictment against Worldcoin after detecting allegedly abusive clauses in user contracts. Worldcoin Faces Legal Scrutiny In Buenos Aires Buenos Aires authorities have identified discrepancies between Worldcoin’s reported data handling practices and findings from provincial inspections, raising concerns about the storage and deletion of biometric data and potential infringements on user rights. The Ministry of Production, Science, and Technological Innovation of the province of Buenos Aires ordered the indictment of Worldcoin following an investigation by the Provincial Directorate for the Defense of Consumer Rights. Related Reading: Arbitrum’s Massive $107 Million Token Unlock Threatens To Send Price Below $1 The investigation revealed the inclusion of “abusive clauses” in the company’s accession contracts, which were allegedly in violation of the National Consumer Protection Law. Undersecretary Ariel Aguilar, responsible for Commercial Development and Promotion of Investments in the province, expressed concerns about the lack of transparency surrounding Worldcoin’s data processing procedures. Aguilar questioned whether biometric data was being stored or immediately deleted, the existence of databases storing personal data of Argentine users, and the complexity of the contracts and operation of the entire system. The province’s inspections uncovered multiple violations in the adhesion contracts, including the “Terms and Conditions of Use,” “Privacy Notice,” and “Data Consent Form.” Notably, the company failed to display signs indicating the minimum age requirement of 18 for accessing the service, potentially leading to the scanning of the personal data of minors. Contradictions In Worldcoin’s Handling Of Biometric Data Contradictions were also found between the company’s reported use, protection, and storage of biometric data collected from the faces and eyes of Argentine users. It appears that this private information is being stored in Brazil. Additionally, abusive clauses were identified that allowed the company to interrupt the service without providing any repair or refund. The contracts also allegedly forced users to waive collective redress claims and subjected them to foreign laws, specifically those of the Cayman Islands, with disputes to be resolved by arbitration in California, United States, violating Argentina’s Civil and Commercial Code. Worldcoin now faces potential fines of up to 1 billion pesos or $1.2 million. The company had been operating in various cities in Buenos Aires. Worldcoin collected personal biometric data, such as iris and facial scans, in these locations through its Orb technology device. In exchange, users were offered the World App financial application on their phones and received cryptocurrency from Worldcoin’s native token, WLD. Unexpected Upswing Despite facing increasing legal scrutiny in recent months, including the latest development in Argentina, the token associated with the Worldcoin protocol, WLD, has experienced an unexpected surge of 2.6% within the past 24 hours, currently trading at $4.80. However, when examining key metrics, it becomes evident that the overall market correction has impacted WLD. CoinGecko data reveals that WLD’s trading volume in the last 24 hours amounts to $319,113,250, indicating a decrease of 7.10% compared to the previous day. Additionally, WLD has witnessed a significant decline of over 58% from its all-time high of $11.74, reached on March 10. Related Reading: Bitcoin Analyst Set Sight On $79,591: Urges Traders To Be Patient Moreover, the token’s market capitalization has experienced a notable decrease. Since its peak of $1.4 billion recorded on March 17, the market cap has fallen below the billion-dollar level, currently standing at $920 million as of the time of writing. Featured image from Shutterstock, chart from TradingView.com
Asset manager Blackrock has emerged as the frontrunner in the Bitcoin ETF race in terms of inflows with its IBIT ETF, which is increasingly attracting institutions’ attention as a key development showing its success. Many fund managers have flocked to invest in BlackRock’s ETF, signaling a growing interest in digital assets among traditional financial institutions. […]
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Bitcoin (BTC) price slipped over four percent in the past 24 hours to retest the support range between $62,000 and $61,000. The flagship coin had stabilized around $63k during the early New York session as long-term holders remained unshaken. According to on-chain data analysis provided by Santiment, Bitcoin addresses holding between 1k and 10k coins …
Bitcoin price is consolidating below the $65,000 resistance zone. BTC must surpass $65,000 and $67,000 to move into a bullish zone again. Bitcoin is struggling to gain pace for a move above the $65,000 resistance zone. The price is trading below $65,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $67,000 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price failed to clear the $67,000 resistance zone. BTC started another decline and traded below the $65,000 support zone. It even declined below $62,000 before the bulls emerged. A low was formed near $61,551 and the price is now attempting a fresh recovery wave. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 23.6% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. Bitcoin price is trading below $65,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,250 level. It is close to the 50% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. The first major resistance could be $64,850. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,500. Source: BTCUSD on TradingView.com The next major resistance is near the $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term. Another Decline In BTC? If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $62,800 level. The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,500 level. 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 losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $63,000, followed by $62,000. Major Resistance Levels – $64,850, $65,000, and $67,000.
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Alex Wacy, a prominent crypto influencer, recently shared insights and strategies for navigating the volatile market conditions, particularly focusing on the potential opportunities in the upcoming altcoin season. In a series of posts on X, Wacy outlined key actions and considerations for investors seeking to capitalize on market movements. Buy Fear, Sell Greed Wacy emphasizes …
The post Powered by The GOAT Foundation and Fantom Blockchain, Speedy Dog Is Set to Rule the Crypto Meme Space appeared first on Coinpedia Fintech News
Since creating the first meme coin in 2013 as a ‘joke’ to drive up the hype around mainstream crypto assets like Bitcoin, meme coins have experienced massive growth in the crypto market. With a market capitalization of over $47 billion, these meme coins have become an enormous part of the crypto industry as the communities …
The post Bitcoin Miner Stocks Plummet: Marathon, Riot, CleanSpark Take a Hit appeared first on Coinpedia Fintech News
As the highly anticipated Bitcoin halving draws near, the mining sector faces a downturn, with stock prices plummeting despite top executives maintaining a bullish outlook. Bitcoin Miners Face Market Turbulence The imminent Bitcoin halving event, set to slash mining rewards from 900 to a 450 daily tokens, has sent shaken the mining industry. High-profile companies …
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Analyst of AMcrypto has opened up in detail about the recent market fluctuations, pondering whether the downward trend is nearing its end or if further declines are on the horizon. Amidst geopolitical tensions and market uncertainties, the analyst examined key support and resistance levels in Bitcoin’s price action. He explained the importance of understanding the …
Analysts express caution as Hong Kong prepares for Bitcoin ETFs, noting market limitations and limited impact expectations.
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Analyst Crypto Banter has recently opened up about the current state of altcoins and meme coins, urging investors to adopt a cautious yet strategic approach during market volatility. In a recent segment, Crypto Banter explained the importance of not simply following the herd mentality of buying assets that have experienced the quickest recovery. Altcoin Alert: …
Over 2,000 United States ETFs see no inflows on any given day — something thats “very normal,” says ETF analyst James Seyffart.
Privacy protocol Railgun, which security analysts have labeled a “prime alternative” to Tornado Cash, denied U.S.-sanctioned entities are using it.
In the first quarter of 2024, the South Korea Won emerged as the leading currency for cryptocurrency trades globally. According to data from research firm Kaiko, the cumulative trade volume denominated in Korean won reached $456 billion, surpassing the $445 billion traded in US dollars. This surge in Korean won-denominated trading, as Bloomberg reported, reflects […]
The venture firm is putting $600 million of its billions into a new gaming fund — which includes Web3, GameFi and AI-integrated gaming projects.
The cryptocurrency market has undergone a substantial downturn, with many of the top 100 cryptocurrencies experiencing sharp price drops. Bitcoin, the leading digital asset, hit a low of $61,600 on Tuesday. However, industry experts suggest a potential rebound to higher highs may be on the horizon as the highly anticipated Halving event draws near. Adrian Zduńczyk, a crypto trader and technical analyst, provides valuable insights into the market dynamics, highlighting key factors such as bull market indicators, ETFs, and the imminent Halving event. Mixed Signals For BTC According to Zduńczyk’s analysis, the market exhibits bullish signs, with the 200-week and 50-week moving averages (MAs) at $33,700 and $39,900, respectively. The Net Unrealized Profit/Loss (NUPL) ratio is 0.55, indicating a favorable trading environment. Additionally, the 7-week correlation with the S&P 500 (SPX) remains firm at 0.71. Related Reading: Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today? In terms of daily trends, Zduńczyk notes that Bitcoin is currently in a choppy range between $59,000 and $74,000, with the 200-day Simple Moving Average (SMA) rising at $46,600 and the 200-day Bitcoin Production Cost (BPRO) rising at $57,700. However, the analyst notes that the medium-term momentum is declining, and the 50-day Average True Range (ATR) volatility has increased to $3270. This suggests that Bitcoin’s overall price trend is losing strength or momentum in the medium-term timeframe. Bitcoin Aims For $86,500 Zduńczyk highlights the market sentiment. The Fear & Greed Index is at 65, indicating a state of greed among market participants. The analyst notes that the current phase of the market cycle is characterized by belief. Moreover, miners are still profitable at prices above $41,800, and as mining difficulty rises post-Halving, a price spike is expected. Notably, previous Halving events have triggered substantial price rallies, with Bitcoin experiencing significant gains of 90X, 30X, and 7X. Importantly, Bitcoin has never returned to Halving prices after these rallies. Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible Examining seasonality trends, the monthly opening price for April stands at $71,000, suggesting a positive outlook for the month. The average gain for April is estimated at 21.95%, implying an end-of-month target of $86,500, according to Zduńczyk. Moreover, the period from April 16 to 30 has historically seen average gains of 14.69%, further reinforcing positive expectations and further price gains for BTC during the upcoming weeks. According to Zduńczyk, this timeframe could attract investors seeking to buy the dip. Despite the overall positive outlook, BTC is trading at $62,600, reflecting a consistent decline over the past month. In the last 30 days, BTC has experienced a 9% drop from its mid-March all-time high of $73,700. Moreover, in its quest for new highs and surpassing the $80,000 threshold, BTC has encountered a significant obstacle at the $70,000 level. Despite surpassing its all-time high, BTC has struggled to consolidate above this level for over a week. Nonetheless, as emphasized by Zduńczyk, the potential synergy between the success of the ETF market in the United States and the upcoming Halving event may hold the key to revitalizing BTC’s price trajectory. Featured image from Shutterstock, chart from TradingView.com
During the last bull run, VC firms were more concerned about missing out on the hype, but they’re taking a much more measured approach this time.
Dogecoin has extended its seven-day losses into the past 24 hours but some holders continue to remain strong. On-chain data has revealed that even though Dogecoin’s value has plummeted by 21% in the last seven days, many long-term holders of the meme coin are still turning a decent profit. Particularly, profitability data from IntoTheBlock shows […]
Andrew Abir, deputy governor of the Bank of Israel, recently said that traditional cash was once competitive with other payment methods, but its role has “eroded” because of technological limitations as finance becomes increasingly digital. Abir made the statement during his speech at the “Engines of the Israeli Ecosystem” conference on April 16, where he […]
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The Securities & Exchange Commission has chosen Uniswap — rather than a fraudulent actor — as its latest target. The commission is facing stiff odds of success.
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The market is known to be generally more fond of fresh tokens than dino tokens from previous cycles. But getting into them is difficult, and often you find yourself left behind each time a new gem refreshes all-time highs (ATH) over and over again. Let’s break down how to find gems early to get allocations …
Crypto analyst Crypto Egrag has provided an update on his recent analysis, where he predicted that XRP would experience a significant price decline. Having called that correctly, Egrag has now predicted what the next move will be for the crypto token. XRP Price Could Rise To As High As $22 Egrag mentioned in an X (formerly Twitter) post that XRP’s next move “could be between 1000% and 3000%.” He acknowledged that the current market conditions might make it hard for anyone to envisage XRP seeing such a move. However, he added that the chart indicates that XRP would rise to between $10 and $22 if historical moves from 2017 or 2021 repeat themselves. Related Reading: Bitcoin Miners To Lose A Whopping $10 Billion Following The Halving – Here’s Why Source: X Egrag also noted that XRP had hit the lower target he had predicted for the crypto token, suggesting it was well primed for such a parabolic rise due to this price correction. In his earlier analysis, the analyst had predicted that XRP could drop to as low as $0.44, which it eventually did on April 13. Since then, the token has recovered and is looking to break the $0.50 resistance level in preparation for its parabolic rise. Meanwhile, crypto analyst Lunc Maxi’s recent analysis also echoes sentiments similar to those shared by Egrag Crypto. The crypto analyst shared XRP’s daily chart and noted that it looks exactly like 2017 and “even had the same drop.” If XRP’s current price action follows 2017, then there is a greater likelihood of XRP hitting $22 than just stopping at $10 since Egrag’s chart showed that a similar move to 2017 will take the crypto token to that price level. XRP’s Short-Term Price Target In a subsequent X post, Egrag suggested that XRP might be headed to $1.4 in the short term. While he admitted that there could be further price declines before this move occurs, he added that XRP bulls have shown that they are willing to match the selling pressure from the bears. Therefore, it shouldn’t be long before the bulls take control and cause XRP’s price to surge. Related Reading: Dogecoin Flashes Weekly Golden Cross: Why This Analyst Believes The Bull Rally Is Far From Over He further urged XRP holders not to be deterred, stating that these price dips are “just opportunities for your bids to be filled, and these bids could be life-changing opportunities.” XRP’s rise to such price levels would indeed be life-changing for XRP investors. However, considering its unimpressive price action so far, it remains to be seen if the crypto token will attain such heights. At the time of writing, XRP is trading at around $0.49, down almost 4% in the last 24 hours, according to data from CoinMarketCap. Token price drops following market crash | Source: XRPUSDT on Tradingview.com Featured image from VOI, chart from Tradingview.com
A bill in the House of Representatives aimed at providing guardrails for stablecoins has not moved forward since July 2023.
Fan tokens displayed an interesting correlation with teams results during todays Champions League match.
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Yat Siu spoke on the panel "Bitcoin's Revenge: Is Web3 Making a Comeback?" at WebSummit Rio in Brazil.
Perpetual futures are a type of derivatives contract unique to the crypto market. Unlike traditional futures, which have a set expiration date, perpetual futures never expire, allowing traders to hold their positions indefinitely. To make this type of contract financially viable, the market employs a mechanism called the funding rate. Funding rates are periodic payments […]
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An analyst has explained how a pattern forming in the Bitcoin Market Value to Realized Value (MVRV) could suggest now may be the time to buy. Bitcoin MVRV Momentum Could Reveal Buying Opportunity For BTC As analyst Ali explained in a new post on X, the MVRV Momentum has been pointing out buying opportunities for […]
Bitcoin price slipped below $62,000 as capital flows into the spot Bitcoin ETFs continue to taper off.
Forge partners with Xterio to bring an array of Web3 games to its community, enhancing player engagement in a new campaign.
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