India’s financial services secretary expressed deep skepticism about cryptocurrency, calling it a doubtful scheme, despite the nation’s top crypto adoption ranking. Indian Official Speaks Out: ‘Very Skeptical of Cryptocurrency’ M. Nagaraju, Secretary of India’s Department of Financial Services (DFS), expressed strong doubts about cryptocurrencies during the SBI Banking & Economics Conclave on November 18, 2024. […]
Van Eck says BTC can reach a price of $180,000 this cycle but warned that elevated funding rates could be showing early signs of “overheating.”
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The SEC seeks to compensate investors in Mila Kunis-backed Stoner Cats NFTs, which were deemed an unregistered securities offering that violated federal law. Stoner Cats Investors to Be Compensated Under SEC’s Proposed Fund Plan The U.S. Securities and Exchange Commission (SEC) has announced a proposed plan to distribute funds collected from Stoner Cats 2 LLC […]
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Cardano (ADA) is making waves in the crypto market, surging past the $0.8119 level in a bold display of bullish strength. This breakout marks a significant turning point, signaling growing confidence among investors and renewed optimism for ADA’s price. With this critical resistance now in the rearview, Cardano is set to aim even higher. Could this be the beginning of a sustained rally that pushes ADA to new heights? As market sentiment improves and the bulls take charge, the focus is on analyzing Cardano’s surge beyond the $0.8119 level, exploring the key drivers behind its rally, and evaluating the prospects for continued upward movement toward higher price targets. Market Sentiment: Growing Confidence In ADA’s Potential On the 4-hour chart, ADA is striving to extend its gains after breaking past the $0.8119 level while remaining above the 100-day Simple Moving Average (SMA). Holding above this critical mark and the 100-day SMA highlights ADA’s strength and potential for further price growth as it aims at new highs. An examination of the 4-hour Relative Strength Index (RSI) reveals a notable rebound, rising sharply from a recent low of 55% to its current level of 70%. While this increase signals growing positive market sentiment, it raises concerns about the rally’s sustainability since a price correction could occur if profit-taking ensues. Overall, the steady increase in the RSI highlights ADA’s resilience and strengthens the outlook for continued price growth in the near term. Related Reading: Crypto Analyst Predicts Bullish Move For Cardano Price To Cross $5, Here’s When Furthermore, Cardano is demonstrating robust upward momentum after breaking through the key $0.8119 resistance level, maintaining its position above the 100-day SMA. Its solid performance highlights sustained bullish strength, signalling that the digital asset is well-positioned for more price appreciation, with the 100-day SMA indicating the potential for a persistent uptrend. Finally, the RSI on the daily chart is currently at 66%, well above the crucial 50% threshold, reflecting a strong ascent for Cardano. This level suggests that the bullish move is likely to persist, with Cardano’s price expected to continue rising in the near term as the RSI approaches the overbought zone. What The $0.8119 Breakout Signals For Cardano The $0.8119 breakout represents a key milestone for ADA, signaling a shift in market sentiment toward a more optimistic outlook. This breach of resistance indicates that Cardano is gaining momentum, with the possibility of additional price gains, targeting the $1.2630 resistance level and beyond. Related Reading: Cardano Price Set To Skyrocket By 430%, Crypto Analyst Predicts However, if the resistance proves to be strong, ADA may experience a pullback or enter a consolidation phase, with the price likely retracing to the $0.8119 support level. A sustained drop below this critical support could signal a shift in momentum, potentially leading to deeper declines. Featured image from Unsplash, chart from Tradingview.com
BTC and XRP challenge securities classifications as a legal expert argues underlying assets are distinct from investment contracts, intensifying calls for regulatory clarity in crypto markets. BTC and XRP Lead Legal Shift in Crypto Investment Contract Standards A well-known advocate in the cryptocurrency community, John E. Deaton, has strongly criticized the conflation of crypto assets […]
Fellow believers, I’ve entered the market in early 2017. BTC was at 4K back then. Family members and friends made fun of me (and they kept on doing so until tonight). Friends told me I was WAY too late to invest. I’ve watched this shit skyrocket to 10k, then 20k, then drop down to 3k,…
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Ethereum surged over 10% yesterday, marking an impressive recovery alongside a very bullish day for the entire crypto market. This surge has reignited investor optimism, especially as Ethereum approaches its yearly highs. Key data from CryptoQuant highlights a significant bullish signal: Ethereum’s Taker Buy Volume hit an astonishing $1.683 billion in a single hourly candle. This metric reflects aggressive buying activity in the futures market, further supporting Ethereum’s potential for continued upward momentum. Related Reading: Bitcoin Open Interest Hits ATH As BTC Nears $100K – What To Expect? The driving force behind this rising demand for Ethereum appears to stem from profits being cycled out of Bitcoin. With Bitcoin consistently breaking all-time highs, investors are reallocating gains into ETH, boosting its price. Ethereum’s ability to capitalize on Bitcoin’s momentum underscores its position as the second-largest cryptocurrency and a key player in the broader market trend. However, the next few days will be crucial for Ethereum as it nears its yearly highs. A strong breakout above these levels could propel ETH into a new uptrend, further strengthening its bullish narrative. Ethereum Bulls Waking Up Ethereum bulls are finally showing signs of life after eight months of bearish price action, with the price surging over 40% since November 5. This strong upward momentum aligns with the broader market rally, fueling optimism that Ethereum’s recovery is just beginning. The resurgence in bullish sentiment has positioned Ethereum as a key focus for investors seeking opportunities in the current market environment. According to data by CryptoQuant analyst Maartunn, Ethereum’s Taker Buy Volume recently hit $1.683 billion in a single hourly candle, highlighting significant demand and the involvement of high-volume trades. This aggressive buying activity is a bullish signal, suggesting increased confidence in Ethereum’s potential to sustain its rally. Strong demand at this scale creates upward pressure on the price, reinforcing the bullish narrative for ETH. Related Reading: Bitcoin Rally Driven By U.S. Coinbase Investors – Top Analyst Shares Metrics However, Ethereum still faces a critical hurdle at the $3,550 level, a significant supply zone that has acted as a barrier since late July. The next few days will be pivotal for Ethereum, as breaking above this key resistance could signal the continuation of its upward trajectory. Failure to do so, however, might result in a short-term consolidation. All eyes are now on ETH, as its next moves could set the tone for the altcoin market. ETH Holding Above Key Levels Ethereum (ETH) is trading at $3,333 after a 10% surge yesterday, marking a significant rebound for the second-largest cryptocurrency. The price is testing a critical supply zone just below the $3,450 level, a resistance area that bulls need to reclaim to confirm the uptrend and maintain momentum for new highs. This supply zone has historically acted as a key barrier, and breaking above it with conviction would signal strong buying pressure and the potential for a sustained rally. Holding above the 200-day moving average (MA) at $2,959 further strengthens the bullish case for Ethereum, as this indicator is widely regarded as a benchmark for long-term price trends. Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed Should Ethereum maintain its position above the 200-day MA and push decisively past the $3,450 level, it could pave the way for a bullish rally, targeting higher resistance zones in the coming days. However, failure to overcome this supply area may result in short-term consolidation as bulls regroup to challenge the level again. For now, the market focuses on Ethereum’s ability to clear this crucial resistance and continue its upward trajectory. Featured image from Dall-E, chart from TradingView
The Financial Industry Regulatory Authority (FINRA)’s new crypto guidelines spotlight risks and FOMO-driven decisions, with advice on crypto investing. New Crypto Guidelines Highlight Key Challenges for Crypto Investors The Financial Industry Regulatory Authority (FINRA) has introduced a comprehensive guide for investors exploring the world of crypto assets. FINRA is a non-governmental organization that oversees brokerage […]
