In a press release on Tuesday, leading crypto exchange KuCoin announced the full launch of its Web 3 wallet. KuCoin revealed that it was now fully ready after an extended beta testing period of the wallet. According to the exchange, about 3 million users took part in the beta tests, whose feedback led to significant […]
Are you looking to start your trading journey, or enhance your trading strategy? If so, you will need to learn how to spot crypto chart…
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In today’s market, plenty of trading platforms, including mainstream exchanges like Binance, Huobi, Bybit, and KuCoin, have introduced futures contracts. Huobi has extensive experience in futures and provides a wide range of linear/inverse contract markets. However, its market share has fallen sharply, and the platform’s user traffic is also going downhill. Bybit and Binance are both professional futures trading platforms that demand a high threshold. Bad news is that Bybit was chased out of the UK by FCA, while Binance has suffered several security breaches. Futures beginners should avoid professional-focused trading platforms with a high threshold. Instead, they should go with a platform like CoinEx that features a low threshold and simple operations. Today, we will look into the advantages of CoinEx Futures in 5 aspects. I. CoinEx Futures boasts simple, easy–to–use, convenient operations First of all, compared with professional-centered futures trading platforms like Binance and Bybit, CoinEx Futures offers simple, easy-to-use products. It aims to allow all crypto investors to trade futures with ease, moving futures trading out of the realm that’s exclusive to professional traders. With easy operations, convenient order placement, and clear position information, CoinEx users can trade futures through an extremely smooth process. Secondly, before starting to trade futures on CoinEx, users can quickly master the key takeaways through simulated operation tutorials provided by the platform, which helps them avoid the common booby traps in futures trading. In terms of functionality, CoinEx Futures provides all-inclusive, easy-to-use functions like TP & SL, Close All, and Futures Calculator, which helps users manage their positions with greater ease. II. CoinEx boasts a zero-accident record against its peers’ frequent security scandals In 2020, KuCoin suffered a serious hacking incident that incurred an asset loss of about $275 million. Apart from KuCoin, Binance, a top crypto exchange, has also been hacked several times. In 2019, over 7,000 bitcoins were stolen from the exchange. The frequent security breaches Binance has suffered jeopardize the bond of trust between this leading crypto exchange and its users in the long run. CoinEx, on the other hand, has suffered no security scandals in the 5 years since its inception, which indicates the strength of its security system. On CoinEx, all crypto assets are 100% reserved. The exchange does not misuse users’ assets for any reason whatsoever. Moreover, all withdrawals are 100% processed in time. CoinEx has also adopted multiple security strategies and established a well-rounded security system to fully protect its system and users’ assets. For example, the exchange regularly conducts penetration tests to promptly identify security loopholes and monitors any abnormal system changes in real-time. III. CoinEx boasts an all-encompassing product family that spans all crypto categories In addition to futures, CoinEx also provides many other products and services, including margin trading, AMM, mining, financial service, and CoinEx Dock. The exchange features trading sections for BTC, BCH, ETH, and stablecoins, over 500 first-rate, innovative cryptos, and nearly 1,000 trading markets. As an exchange under ViaBTC Group, CoinEx is backed by an all-inclusive ecosystem that brings together a mining pool, an exchange, a wallet, a public chain, and an institutional investor. Today, CoinEx has earned global user recognition with its fast, stable performance and smooth deposits/withdrawals. In the future, the exchange will continue to strive for a comprehensive, stable service ecosystem. IV. Backed by a tech background, CoinEx boasts years of crypto expertise According to its official introduction, CoinEx is backed by a founding team consisting of technical experts who boast rich experience in the security of systems, operations, and wallets. For instance, Haipo Yang, CoinEx’s founder, is a top-notch tech expert in the industry. During the early days, he launched ViaBTC Pool and completed all the coding. In addition, members of CoinEx’s core team all have a background in world-renowned companies that focus on the Internet or finance, including some of the earliest crypto practitioners and investors. The team has expertise in technology R&D and global operations. When it comes to technology, CoinEx independently built the world’s first 10,000-TPS trade matching engine that allows it to carry 10,000 transactions per second, running stably despite the concurrence of massive transactions. In addition, on CoinEx, deposits arrive as fast as five minutes, and small withdrawals are processed in real-time. CoinEx’s system remains steady and solid even when the trading volume surges during a bull market. V. Centering on user experiences, CoinEx keeps pushing for globalization While building a global presence, CoinEx has always prioritized product & service and user experiences. As the exchange explores international markets, it has remained committed to product development and the user-first principle. Right now, CoinEx is providing services in markets around the world 24/7. Available in 16 languages, the exchange continues to venture into new markets. It should be noted that CoinEx’s product design features an interactive experience that combines elements such as aesthetics, simplicity, smoothness, and practicality, which allows users to benefit from simple, elegant operations. This also shows that the CoinEx team has always been committed to product improvement, providing users with one-stop crypto trading services that are more satisfying and considerate. Overall, when choosing a suitable futures trading platform, apart from security, users should consider whether a platform’s products are easy to use and if its operations are convenient. In addition, they should also account for the products and services that are available on a platform to benefit from efficient, satisfying crypto trading experiences.
Coinbase is facing one of the sternest tests in its history with lay-offs and an internal shake-up.
Hit by the collapse of Luna and UST, as well as another round of interest rate hikes and balance sheet shrinking by the Fed, cryptocurrencies suffered a market-wide plunge in May 2022, and the market has not significantly rebounded so far. In addition, compared with their historical highs, the prices of Bitcoin and Ethereum have fallen by more than 50%. Meanwhile, other altcoins have suffered bigger falls. The entire crypto market is still going through a bearish period. That being said, will Bitcoin and Ethereum go to zero? The answer is a hard no. As the blockchain technology advances and becomes more widely adopted, a growing number of users have joined the crypto space, and the market cap of Bitcoin has even once exceeded that of Meta (formerly Facebook). Meanwhile, some conventional institutional investors are venturing into the crypto market, and Bitcoin appears on the balance sheet of an increasing number of listed companies. More and more institutions are paying close attention to the function of Bitcoin and Ethereum as hedging tools, and some countries have even adopted Bitcoin as their legal tender. According to the general trend, a growing number of individual users, companies, and governments will adopt Bitcoin. Moreover, during the past decade, Bitcoin has witnessed all sorts of attacks and smears. It has even been banned by some state regulators. Despite all that, Bitcoin has survived with great tenacity, which is sufficient proof of its ability to withstand tests and challenges. Additionally, more investors are starting to notice the value of Bitcoin. As crypto categories such as DeFi, NFT, and the metaverse boom over recent years, the crypto market has been driven to a whole new level. In today’s market, people can profit not only from direct investments but also from a growing number of crypto-based financial services. As the relevant products mature, more investors are flocking to crypto finance. Therefore, we can draw two basic conclusions: 1) The crypto market will not diminish. On the contrary, an increasing number of global users will adopt cryptos, and the user base of cryptocurrency will keep expanding; 2) The overall price trend of Bitcoin will remain flat. In other words, the price fluctuations will not be as significant as its previous records, which is to say that the BTC price would not go down by much. As such, you do not need to panic if you are holding mainstream cryptos because they are likely to become more valuable according to past market cycles. In our view, the best strategy in a bear market is to hold onto your cryptos and do nothing. Meanwhile, we also advise you to seek to expand the cash flow to ensure the source of income and buy more crypto at low prices. Although some say the best bear strategy is to hoard cryptos, a better approach is to earn more cryptos with one’s existing holding, which resembles earning interests on bank deposits. Right now, many crypto exchanges have launched products focusing on crypto finance, and we can choose a suitable product according to our own needs. What are the indicators to consider when we choose a crypto finance product? Security is the No.1 priority. In the crypto market, the significance of security cannot be overstated, and leaving deposits in an unsafe environment for small profits frequently results in huge losses. For example, some exchanges run by scammers use high returns as the bait to trick users into making crypto deposits. Users are tempted by the financial product’s promise of high returns, yet the scammers are targeting their deposits. In the crypto space, a lot of users have suffered enormous losses when trying to earn small profits. That is why we must choose a safe exchange. As we all know, many crypto exchanges have suffered security breaches, and even some of the top exchanges have lost huge amounts of Bitcoin, incurring losses in user assets. CoinEx, on the other hand, is one of the few exchanges that have never been hacked. Haipo Yang, the founder of CoinEx, once said that safety is always the most essential promise of CoinEx as well as its core advantage. As CoinEx always puts users first, the products it developed have kept users’ assets safe and secure, earning the exchange extensive user recognition. When foraying into crypto finance, we can go with CoinEx, a zero-accident exchange. With Financial Account, a product introduced by CoinEx that provides interests for deposit holders, users can receive daily returns simply by depositing their idle assets into the Account, with compound interests settled on a daily basis. In addition, such compound interests come from 70% of the revenue generated by crypto loans in margin trading, which is a stable and reliable source. Although the financial services provided by some exchanges offer high returns, there are often many strings attached. For example, many of these services require a minimum deposit period of 30 days, 60 days, or even longer. In contrast, CoinEx’s Financial Account does not require any minimum deposit period, and users can deposit/withdraw cryptos at any moment. What are the advantages of on-demand deposits/withdrawals? Cryptos are subject to significant price volatility, and a cryptocurrency can sometimes plunge by over 20% within a week. If we choose a crypto finance product with a minimum deposit period (e.g. 7 days), then once the price plummets, we will find it hard to withdraw our deposits or sell the cryptos to minimize losses. Considering the huge risks involved, the small profits generated by such financial products are apparently not worth it. With CoinEx’s Financial Account, users can deposit/withdraw cryptos anytime they’d like to, which means that they could swiftly withdraw their deposit in the event of significant market volatility while earning profits. Apart from that, Financial Account features no minimum deposit amount, and users can choose to deposit whatever they want. A crypto bear is nothing to be afraid of because it allows us to hoard cheap bargain chips. As such, when a bear comes, we should continue to expand our cash flow. While stocking up on more cryptos with rational strategies, investors also need to deposit their holdings to secure exchanges for financial management and wait for the next crypto bull.
Terra’s founder has a slew of legal troubles to face after the crash of the network in May.
Ethereum’s much-anticipated Merge is finally close to fruition and that is sending ripples across the layer-1 network with investors now buying the ETH dip in hoards to avoid missing the train.
Ethereum is still above the $1,720 support against the US Dollar. ETH must clear $1,820 and $1,850 to start a steady increase in the near term. Ethereum is still above the main $1,720 support zone. The price is now trading below $1,800 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a strong increase if there is a clear move above $1,820 and $1,850. Ethereum Price Tests Key Support Ethereum attempted a fresh increase above the $1,820 resistance zone. However, there was no upside continuation and the price stayed below the $1,850 resistance zone. A high was formed near $1,831 and the price moved lower. There was a break below the $1,800 support zone and the 100 hourly simple moving average. A low is formed near $1,767 and the price stayed above the key $1,750 support zone. Ether is now consolidating above the $1,750 support. It climbed above the 23.6% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low. On the upside, an initial resistance is near the $1,800 level. There is also a crucial bearish trend line forming with resistance near $1,800 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,831 swing high to $1,767 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,820 level. The main resistance is still near the $1,850 level. A clear move above the $1,850 resistance might start a strong increase. The next major resistance is near the $1,920 level. Downside Break in ETH? If ethereum fails to rise above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,765 zone. The next major support is near the $1,720 level. A clear move and break below the $1,720 support could start a major decline. In the stated case, the price could slide towards the $1,650 support zone 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 just near the 50 level. Major Support Level – $1,720 Major Resistance Level – $1,820
Learning how to identify and use the bull flag pattern is essential for anyone looking to up their trading game. It allows you to spot…
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India’s banking and finance sector regulator, the Reserve Bank of India (RBI), has said that it plans to introduce a Central Bank Digital Currency (CBDC) in a graded manner. Also, the introduction of a CBDC needs to meet the objectives of India’s monetary policy, financial stability, and currency and payments systems, local media reports. The […]
Ethereum is inching closer to being a proof-of-stake network. The Merge, which is the major process needed to transition the network from proof-of-work to proof-of-stake, […]
Cardano (ADA) exhibited strength over the last 24 hours as the coin rallied by almost 25%. With Bitcoin trying to climb up on its chart, altcoins have reflected the same price action. Broader market seems to be regaining its lost momentum with major market movers showing signs of recovery. The global cryptocurrency market cap today stood at $1.38 Trillion with a 3.6% increase in the last 24 hours. The buyers have re-entered the market after the bears failed to drag the price below the $0.40 support line. Cardano bounced off the aforementioned support line and started its journey towards recovery. Cardano happens to be one of the top gainers across the industry today. The demand for the coin surged and as a result the coin continued to break past several key resistance levels over the last 72 hours. Cardano Price Analysis: One Day Chart ADA was priced at $0.63 at the time of writing after rallying over 25% in the last 24 hours. The coin broke past many resistance marks and has now found support near the $0.50 price level. In case demand starts to drop, price might end up near the $0.59 to $0.50 mark following which the support level rested at $0.40. Overhead resistance for Cardano was at $0.78 and then at $0.93. For the bulls to firmly establish themselves, the altcoin has to aim for $0.78. Volume of ADA traded in the last trading session was high. The bars appear green which is a sign of positive price action signifying that buying strength increased in the market. Technical Analysis Demand for ADA rose as seen visible on the one day chart. In correspondence to the same, ADA’s price was above the 20-SMA line. This reading signified that buyers were in charge of driving the price momentum of the market. A push from the buyers can drive the price above the 50-SMA which would be a sign solid bullishness. In relation to the buying strength, Relative Strength Index rose sharply past the half-line. A reading above the half-line indicated buyers outnumbering sellers in the market. Related Reading | Cardano (ADA) Continues To Sink, What’s Next For The Coin? Awesome Oscillator displays the current as well change in the price momentum. The indicator displayed green signal bars that highlighted a bullish price momentum. AO also displayed buy signals which corresponded with the RSI. The Chaikin Money Flow indicates the amount of capital inflows and outflows. The CMF was above the halfline, which meant that capital inflows were more than capital outflows at the time of writing. The indicators although bullish might not be enough to validate the current bullish thesis. Sustained increase in demand for the coin along with market strength can help the bulls to sustain the price action. Related Reading | TA: Ethereum Tests $2K, Why ETH Could Extend Rally
Ethereum was bullish on its chart today at the time of writing. ETH broke its consolidation phase and rose upwards by 4% over the last 24 hours. The king altcoin secured $1900 as a strong support level. After the coin moved past the $1700 level, the bulls started to show up in the market. The demand for the altcoin also came back into the market after Ethereum moved up and past the $1700 price mark. Continued buying strength can push ETH to trade above the $2000 price level. If the bulls continue to trade above the $2000 price level then the recovery would remain strong in the market. Currently, Ethereum has been down by 60% from its all time high of $4800, which the coin secured in the month of November, 2021. The overhead price ceiling for the coin stood at $2100. If the bulls fail to hold the momentum the coin could go back to the consolidation phase. Ethereum Price Analysis: One Day Chart ETH was priced at $1949 at the time of writing. The coin’s nearest support line was $1900, a fall from which could push ETH near $1700. The break from the consolidation caused the coin to rise by 4% over the last 24 hours. For the coin to invalidate the consolidation bit, the coin has to attempt trading near the $2100 and then at $2400. If bulls the tire out, Ethereum could be sandwiched between $1700 and the $1900. The volume of the coin declined in the last trading session. The volume bar was red in colour which indicated that the bearish pressure still remained in the market. Technical Analysis Buyers came back in the market as demand for the coin increased on the one day chart. The Relative Strength Index noted a move upwards as buyers regained confidence. Despite the increase in the buying strength, RSI noted a small downtick which could mean that selling pressure was back in the market. The coin was priced above the 20-SMA which is a sign of bullishness and push from buyers cause price to rise further. This indicated that price momentum was driven by buyers in the market. Related Reading | TA: Ethereum Tests $2K, Why ETH Could Extend Rally As buyers increased in number as seen on the RSI, Ethereum flashed buy signals on the one day chart. Awesome Oscillator depicts the price momentum and it showed green histograms signalling a change in price momentum. Green histograms on the AO can be attributed to a buy signal. Bollinger Bands indicate the price volatility. The indicator showed tightening of the bands which can be related to a change in volatility or an incoming price fluctuation in the market. Although Ethereum rose on the charts, indicators have painted a mixed signal. Only with sustained buying strength can Ethereum invalidate the bearish thesis completely. Related Reading | TA: Ethereum Reaches Crucial Juncture, Can The Bulls Make it
Ethereum is making progress towards its transition from a Proof-of-Work (PoW) consensus to a Proof-of-Stake consensus algorithm. In an event dubbed as “The Merge”, the current network and its decentralized application will begin operating on the latter. Related Reading | Analyst Hints Huge Chances For Ethereum Killers To Surge, Sides With Solana And AVAX Core ETH Developer Tim Beiko recently announced the successful roll-out of a Beacon Chain, or a mainnet PoS network, for its longest-lived PoW testnet “Ropsten”. This will aid developers in launching “The Merge” on this test network. The event is set for June 8th. If successful, Ethereum and its developers could be steadily moving to a mainnet Merge event at some point in the coming months. The Ropsten Beacon Chain must meet certain requirements before operating on a PoS consensus, as Beiko clarified: For The Merge to happen, we now need two things on Ropsten. First, its beacon chain must activate the Bellatrix upgrade, scheduled for June 2. Then, a PoW total difficulty value, the Terminal Total Difficulty (TTD) will be chosen to trigger the transition. In that sense, Beiko asked node validators to prepare for the upcoming PoS transition. This could be one of the largest “The Merge” milestones in recent months and could provide validators with experience about “what a post-merge node is like”. Beacon Chain node validators will need to fulfill requirements to stay active on The Post Merge network, such as running execution clients. PoW node validators will need to run a consensus layer client. Beiko added the following on what could be a glimpse of an Ethereum mainnet post “The Merge”: Post-merge, validators receive the priority fees from transactions 💸 This happens on the execution layer, so those fees aren’t locked on the beacon chain. To get them, you need to set a “fee recipient” address upon starting your validator. What Could Change On Ethereum With The Merge This testnet will have no direct implications for Ethereum holders or users. However, ETH Ropsten miners will stop operating under the new consensus layer. Once the mainnet completes its Merge event, ETH miners will be unable to continue operating with this cryptocurrency. This could potentially induce a short-term shock to the crypto space. ETH is one of the most popular cryptocurrencies, and one of the best to mine. The Merge is probably the most hyped event in this cryptocurrency’s history. This combination of ingredients, a sudden shift in the system, and a highly anticipated event could contribute to the creation of volatility around “The Merge”. In the long term, the PoS migration could be a bullish catalyzer for the price of ETH. Related Reading | TA: Ethereum Tests $2K, Why ETH Could Extend Rally At the time of writing, ETH’s price trades at $1,900 with a 3% profit in the last 24-hours. The cryptocurrency has been lagging as Bitcoin takes over the market due to an increase in uncertainty in the macro-environment.
Ethereum gained pace above the $1,940 resistance zone against the US Dollar. ETH even spiked above $2,000 and might extend gains in the near term. Ethereum started a recovery wave above the $1,920 and $1,940 levels. The price is now trading above $1,920 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $1,975 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend gains if there is a close above the $2,000 resistance zone. Ethereum Price Gains 5% Ethereum remained supported above the $1,850 level. There was a steady increase and the bulls were able to push the price above the $1,920 resistance zone. The price even jumped above the $1,940 resistance and settled above the 100 hourly simple moving average. Finally, there was a spike above the $2,000 resistance and the price traded as high as $2,010. Ether is now consolidating gains near the $2,000 level. It is trading above the 23.6% Fib retracement level of the upward move from the $1,874 swing low to $2,010 high. There is also a connecting bullish trend line forming with support near $1,975 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, an initial resistance is near the $2,000 level. The next major resistance is near the $2,040 level. A proper upside break above the $2,040 resistance might push the price further higher. In the stated case, ether price could rise towards the $2,120 resistance zone. Any more gains may perhaps send it towards the $2,200 resistance zone. Dips Limited in ETH? If ethereum fails to continue higher above the $2,000 resistance, it could start a downside correction. An initial support on the downside is near the $1,975 zone and the trend line. The next major support is near the $1,940 level. It is near the 50% Fib retracement level of the upward move from the $1,874 swing low to $2,010 high. A downside break below the $1,940 level might send the price towards $1,900. The next major support sits near $1,860 and the 100 hourly simple moving average. 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 well above the 60 level. Major Support Level – $1,940 Major Resistance Level – $2,000