Last Sunday, the price of Ethereum was near a critical level of $1800, a fall below which would mean a continuation of the bearish scenario. However, it seems that the panic mood of the market has subsided somewhat, no further sales followed. On the contrary, it served as an impetus for some investors to buy at the bottom.
After reaching $2,390 yesterday, ETH/USDT now is consolidating around $2,270. Though it is too early to talk about bullish reversal, but both fundamental and technical factors indicate that a rebound is still ongoing.
Despite the fact that the institutional demand for…
On Sunday, the whole crypto market plunged again — Bitcoin declined as low as $33,400, ETH dropped below $2,100, and XRP hit $0.70.
The price dip in the crypto market also triggered a reduction in market capitalization, which was near the $ 1.400 trillion mark over the weekend, and Ripple’s share is 2.37%.
In total, from mid-April, when, having reached the maximum, the Ripple price began to decline and to date, the XRP / USDT pair sank by 62%!
It is also worth noting that 2021 was not an easy year for Ripple due to the persecution (SEC) of…
Bitcoin surged as high as $39,800 after Elon Musk said Tesla would resume transactions with Bitcoin when mining is done with more clean energy. At the press of time, Bitcoin pulled back and is consolidating at around $39,000 mark.
Software company MicroStrategy, whose CEO Michael Saylor has become a vocal Bitcoin evangelist, last week boosted a junk-bond offering for the purposes of buying BTC to $500 million. To be concrete, there will be 14,000 BTC will be bought tonight.
SSR indicator, defining as the ratio between the supply of BTC and that of stablecoins, hits the historical low, which means…
In a recent podcast with Lex Friedman, Ethereum founder Vitalik Buterin shared his views on a number of topics ranging from Ethereum’s advantage over Bitcoin to Elon Musk’s crypto strategies.
“You would make a mistake if you were to ascribe too much sophisticated malevolence or any deep intentionality to the whole process. He’s just a human being, and he likes dogs just like I like dogs,” said Buterin on Musk’s preference for Dogecoin.
“Bitcoin is the blockchain for money and Ethereum is built from the start as a general-purpose blockchain.”
“There is Ether, the asset on Ethereum, but you can…
The first half of last week was good for the Bulls. On Wednesday, BTC/USDT reached its maximum near $ 40,818, after which the Bulls’ enthusiasm began to fade and the bears took the initiative. On Thursday, it struggled to go higher, but on Friday, under the onslaught of bears, the price dropped to $ 35,122, and Saturday’s was as low as $33,863.
At the moment, the price of Bitcoin is $ 35,229 and it looks like the Bulls are again trying to recoup, preventing the price from dropping below the support level. However, the chances of both a breakdown of…
Bitcoin as begun the monthly options expiry week on a positive note, rising from $48,000 to over $54,000. What’s interesting about this particular options expiry is that the current max pain price for the expiry is $54,000, which is very close to the current trading price.
Call and put sellers, typically institutions with ample capital supply, often manipulate and pin the price of the underlying toward the max pain point while heading into the expiry.
In other words, buyers of call and put options expiring on April 30 will suffer maximum loss if bitcoin settles at $54,000 on Friday. Meanwhile…
Last week, Bitcoin and Ethereum reached new all-time highs, and the price of Ripple reached 1.96 USDT per coin. It was the first time since the all-time high in 2018. However, on the same day, a correction began, the XRP/USDT first sank by 20%, and by the end of the week by 35% and is currently trading near the $ 1.4 mark.
Ripple began to move north at the beginning of the month and in two weeks its price increased by 330%, and since the beginning of the year, when the XRP/USDT was trading near the $ 0.2, …
ETH has stabilized above $2,000 mark for about 4 days. At the press of time, ETH is trading at $2,100 slightly below the all-time high of $2,150, with the market cap spiking to more than $245 billion.
The upbeat DeFi industry (most of the DeFi platforms are built on Ethereum blockchain) and the NFTs (Non-fungible Tokens) stimulate the rally in ETH price. Further, more institutional investors have jumped to the ETH world, which make it possible that the bullish trend of ETH will continue.
ETH Technical Outlook — $2,500 will be hit in April
A look at the 4H chart…
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Bitcoin broke above the $55,000, which completed an ascending triangle pattern. This bullish setup has a target objective at $61,000. The bears attempted to stall the up-move today, but the long tail on the candlestick shows strong buying on dips.
The 20-day EMA has turned up and the RSI has climbed close to the overbought area, indicating that bulls are in control.
If the bulls can drive the price above $58,300 again, the rising channel will open. The next major target on the upside is $72,000.
Another possibility is that the price may rise above the all-time high, but the bears will try to trap the aggressive bulls and attempt to pull the price below $52,000.
In order to reverse the trend, the bears will have to sink the price below the most recent swing low at $43,000.
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