Robinhood added Grayscale ETH and BTC trusts after leaning heavily on the crypto industry recently so let’s have a closer look at our latest crypto news today. For a few years, the trading app Robinhood listed a few cryptocurrencies but in the past month, it’s brought that number to 11 and it is now making […]
Ethereum gained pace and cleared the $2,000 resistance against the US Dollar. ETH is consolidating and might rise further towards the $2,120 resistance. Ethereum extended its increase above the $1,920 resistance zone. The price is now trading above $1,950 and the 100 hourly simple moving average. There was a break above a short-term bearish trend line with resistance near $1,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise further higher towards the $2,050 and $2,120 levels. Ethereum Price Eyes More Upsides Ethereum remained well bid above the $1,850 level. ETH gained pace after there was a clear move above the $1,880 resistance zone. It even climbed above the $1,920 level. The bulls pumped the price above the $1,950 resistance and the 100 hourly simple moving average. Finally, there was a move above the $2,000 resistance and the price traded as high as $2,029. Recently, there was a downside correction below the $2,000 level. Ether declined below a key bullish trend line forming with support near $2,000 on the hourly chart. There was a move below the $1,950 level, but the bulls were active near the 100 hourly simple moving average. A low was formed near $1,905 and the price started another increase. There was a clear move above the 50% Fib retracement level of the recent decline from the $2,029 swing high to $1,905 low. The price even tested the $2,000 resistance. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $2,000 level. It is near the 76.4% Fib retracement level of the recent decline from the $2,029 swing high to $1,905 low. The first major resistance is near the $2,030 level. A clear move above the $2,030 level could start a steady increase to $2,080. If there are more upsides, the price may perhaps rise towards the $2,120 resistance zone in the near term. Dips Limited in ETH? If ethereum fails to rise above the $2,030 resistance, it could start a downside correction. An initial support on the downside is near the $1,950 zone. The next major support is near $1,920 and the 100 hourly simple moving average. The main support is near the $1,900 level, below which there is a risk of more losses. In the stated case, ether price may perhaps decline towards the $1,855 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,920 Major Resistance Level – $2,030
With lots of cryptocurrency protocols in the virtual space, there’s still a need to create a balance between fiat and digital currencies. The major bridge comes on compliance and AML levels, as many people have devised their means of circumventing the necessary procedure. Wallex brings outstanding measures and is pioneering as the lead in creating stability and compliance in the world economy through digital assets. What is Wallex? Wallex is a technological ecosystem that offers assets and digital assets to several users to carry out their business and daily lives. It serves different individuals, businesses, exchanges, broker-dealers, fintech projects, real estate platforms, financial institutions, OTC desks, crowdfunding portals, and others. The activities of Wallex are in over 200 parts of the world, including South America, Europe, North America, Africa, Asia, etc. The operations of Wallex cut across numerous aspects and phases of lives. Some of its services are linked to the following: Payments AML and Compliance Custody Neobanking Trading Tokenization White label solutions Decentralized investment Wealth management Trustee Pillars of Wallex Ecosystem Wallex divided its general functionality into five major pillars, namely: Neobanking – Through neobanking, Wallet offers its customers unlimited access to several cryptos and fiat currency accounts. They could easily deposit, withdraw, exchange and spend their cryptocurrencies with cards. Also, neobanking inculcates wallet, business banking, institutional engagements, staking, and Custody – With the Wallex custody account, users could perform different activities. They could transfer assets from the crypto accounts, make exchanges with fiat currencies, and others. Custody involves the account’s vault, Escrow, and Custody Pro. Trust – Wallex Trust operations cut across wealth management, wealth container, tokenization, and insurance. Pay – Payment in Wallet passes through several methods. These include payment gateway, Eurst, Tokask, and Trustchain. Exchange – Wallex maintains several activities through its exchange. These include borrowing, earning, ProTrade and others. Founder and CEO The founder and CEO of Wallex is Simone Mazzuca. He applies a combination of traditional financial and blockchain technology to create a formidable, strong, and reliable ecosystem that will secure even the future. Mazzuca has several years of experience in financial consulting and was a manager of private and institutional clients in the USA, UK, and Italy. Wallex Contributory Strategy Wallex is building its ecosystem using a contributory strategy that helps it to improve the economy. The protocol creates a bridge for millions of investors and users such that they can easily access the dividends of the virtual space through blockchain technology. Wallex strategy is built on the following 5 pillars: To create a link to the new financial world. Develop a transparent and reliable financial ecosystem. Impact the masses on how to utilize the blockchain Keep up good contact with the customers. Harness its organizational structure to proper maintenance and development of talents. Wallex Past Achievements Wallex has made several great achievements in the past that depict the great stance of its ecosystem. Here are some of its milestones. Launch of Wallex Custody Initiation and launch of the EURST project. This made a great wave for Wallex as the project enabled the pegging of fiat currency to the digital stablecoin. It’s a method to control the high volatility of digital assets. Wallex Bank and Statutory Trust incorporation. Launch of Wallex Bank. Launch of Wallex 2 Wallex Future RoadMap Wallex has laid out some plans that will help it to keep up with its strategies in providing continuous services to its customers. Some of its roadmaps include: Launch of WLLXB V.3 Issuance of more than 13 stablecoins. Launch of crowdfunding platform. Launch of Tokash Increasing its number of customers to 1 million. Launch of asset tokenization platform. Opening of First Wallex Store Establish a full ecosystem and become a Commercial Trust of Digital currencies.