Crypto News Ethereum

TA: Ethereum Forms Bullish Pattern But This Level Is Crucial

Ethereum extended decline and tested the $1,920 support against the US Dollar. ETH is rising and might revisit the key $2,085 resistance zone. Ethereum remained stable above the key $1,920 support zone. The price is now trading above $2,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,980 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further, but the $2,085 zone presents a major hurdle. Ethereum Price Recovers Above $2K Ethereum extended decline after it broke the $1,950 support and the 100 hourly simple moving average. However, the bulls took a strong stand near the $1,920 support. A low was formed near $1,911 and the price started a recovery wave. There was a clear move above the $1,950 and $1,960 resistance levels. Ether price climbed above the 50% Fib retracement level of the downward move from the $2,083 swing high to $1,911 low. Besides, there was a break above a major bearish trend line with resistance near $1,980 on the hourly chart of ETH/USD. Ether price is now trading above $2,000 and the 100 hourly simple moving average. The price is now facing resistance near the $2,020 level. It is near the 61.8% Fib retracement level of the downward move from the $2,083 swing high to $1,911 low. The next major resistance is near the $2,040 level. The main resistance is now forming near the $2,085 level. A close above the $2,085 level could open the doors for a steady increase. Source: ETHUSD on TradingView.com In the stated case, ether price could rally towards the $2,200 resistance. Any more gains may perhaps send it towards the key $2,250 resistance zone. Fresh Decline in ETH? If ethereum fails to recover above the $2,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,995 zone and the 100 hourly SMA. The next major support is near the $1,970 level. A downside break below the $1,970 level might call for another test of the main $1,920 support. Any more losses may perhaps clear the path for a sharp decline to $1,800. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,970 Major Resistance Level – $2,085

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Japan exchange Coincheck lists SAND, the crypto asset of The Sandbox metaverse

Animoca Brands, the company advancing digital property rights for gaming and the metaverse, and its subsidiary The Sandbox, a leading decentralized virtual world, today announced the listing of SAND on Coincheck, the largest crypto trading exchange in Japan. Coincheck users can now access SAND on Coincheck in the markets of SAND/JPY and SAND/BTC. SAND is […]

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Crypto News Ethereum

TA: Ethereum Dips But Here’s Why ETH Could Start Fresh Increase

Ethereum failed to clear the $2,085 resistance and declined against the US Dollar. ETH must stay above $1,920 to start a fresh increase in the near term. Ethereum failed to clear the $2,085 and $2,100 resistance levels. The price is now trading below $2,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down towards the main $1,920 support zone. Ethereum Price Trades Below $2K Ethereum attempted to clear the $2,085 and $2,100 resistance levels. However, ETH failed to gain strength and formed a short-term top near the $2,085 level. There was a bearish reaction below the $2,050 support level. Besides, there was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD. There was a move below the 50% Fib retracement level of the upward move from the $1,920 swing low to $2,085 high. Ether price is now trading below $2,000 and the 100 hourly simple moving average. It even tested the 76.4% Fib retracement level of the upward move from the $1,920 swing low to $2,085 high. The price is now consolidating near the $1,980 level. The first major resistance is near the $2,000 level and the 100 hourly simple moving average. The main resistance is now forming near the $2,085 level. A close above the $2,085 level could open the doors for a decent increase. Source: ETHUSD on TradingView.com In the stated case, ether price might rise towards the $2,150 resistance. Any more gains may perhaps send it towards the key $2,200 resistance zone. More Losses in ETH? If ethereum fails to recover above the $2,000 resistance, it could continue to move down. An initial support on the downside is near the $1,960 zone. The next major support is near the $1,920 level. A close below the $1,920 level might restart downtrend. In the stated case, the price could dive towards the $1,900 level. The next major support might be near the $1,800 and $1,780 levels in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,920 Major Resistance Level – $2,085

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XRP Has Broken Below Its Long Standing Support, What’s Next?

XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark. Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the last week, XRP fell by almost 7%. Although the coin has printed a symmetrical pattern on the chart, which also means that XRP has a chance of moving on the upside it is uncertain if the altcoin will be able to hold onto its current price action. This directional breakout from the symmetrical triangle could either make the altcoin trade towards the north or towards the south. XRP Price Analysis: One Day Chart The altcoin was trading at $0.41 on the one day chart. XRP was also trading beneath its long standing support line of $0.42. The asset hadn’t gone below the aforementioned price level in almost over a year. A push below the current price mark will make the coin trade beneath the $0.30. A break below the $0.30 price mark could push XRP near the $0.24 price level. Since the coin registered a small symmetrical triangle and it can be so that XRP can either go up or down from here, the overhead resistance for XRP was at $0.48. For bearish thesis to be invalidated the coin needs to trade above the $0.56 resistance mark. Technical Analysis XRP recovered on the chart and the coin moved away from the oversold region. The Relative Strength Index was above the 20-mark, which meant that the coin wasn’t undervalued. Buying strength came back in the market but the altcoin was still in the grasps of the sellers. If continued selling pressure remains then the coin might trade close to the immediate resistance mark. The asset was also below the 20-SMA line and this is in accordance with sellers being in control. This reading meant that sellers were responsible for the price momentum in the market. Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing Bollinger Bands are used to depict the price volatility of the asset. On the one day chart, Bollinger Bands were seen wide open. This reading meant that the coin was not about to witness immediate price fluctuations in the market. It can be so that the coin might continue consolidating over the next trading sessions. Awesome Oscillator depicted green signal bars as price momentum was slowly registering a bullish change. The green signal bars also mean that there is a buy signal in the market which correlates to positivity in terms of price action. If buyers act on it then the coin might manage to move upwards but it is still uncertain if that would be the case. Related Reading | Ripple Price Falls Below $0.43 As Bears Take Control Of The Market

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Polkadot Pioneers Prize Names Manta Network The Architect “Open Division” Competition Advancing Zero-Knowledge Technology

Earlier this year, Polkadot, the interoperability-focused blockchain network, launched the Polkadot Pioneers Prize to attract new talent and accelerate the advancement of zero-knowledge (ZK) technology and the overall Polkadot infrastructure. Through the Polkadot Pioneers Prize, Polkadot’s plug-and-play privacy protocol Manta Network has joined 22 other ZK companies, funds, and foundations to launch ZPrize – an […]

Bitcoin

‘Tokenizing Assets’; Bob Ras, Sologenic CEO, Reveals The Mantra Of The Financial Future

Today, we caught up with Bob Ras, CEO, and Co-founder of Sologenic, a foundation that synergizes different financial markets by tokenizing various asset classes on a decentralized ecosystem built on the XRP ledger. The Sologenic team is focused on bringing both cryptocurrencies and non-blockchain assets under one umbrella for the ease of trading. During this […]

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Liquidations Settle As Bitcoin Regains Footing Above $30,000

Bitcoin had been recording massive liquidations since the digital asset had dropped from $40,000. The majority had been dominated by long liquidations as hundreds of thousands of traders saw their positions liquidated. However, since the price of the cryptocurrency has begun to settle around the $30,000 level, the liquidations have now also started settling. Leading […]

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Analyst Says ‘Textbook’ Setup Forming for One Ethereum Rival, Predicts Point of Maximum Opportunity for Bitcoin

A popular crypto analyst says he’s bullish on one Ethereum (ETH) challenger that he thinks is flashing a “textbook” trade setup. The pseudonymous crypto trader known as Cantering Clark tells his 132,900 Twitter followers that decentralized application (DApp) platform Near Protocol (NEAR) has been trading within a narrow range in the last few days. “This […]

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