According to reports on social media, a number of users have complained that FTX has blocked a transaction that was associated with the Aztec Network’s zkmoney privacy technology. Following the accusations, FTX CEO Sam Bankman-Fried explained that transactions are monitored for AML compliance but it “does not mean any accounts were frozen.” Journalist Wu Blockchain […]
Get your fat, poor retail body up and GTFO! Don't stare into these red candles thinking that you are missing out big time, that you are missing your golden opportunity to become a Whale. Throw you smartphone and lock your laptop and PC and catch some fresh air. Yes, there is something called LIFE beyond…
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Security stands as one of the most crucial features as, in a Web3-powered world, tools and applications hosted over the blockchains go mainstream.
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BTC is King. It’s probably one of the main reasons why many of us remain unperturbed by the current bear market and depressing news of hacks and platform closures. We follow this mantra dearly: when it dumps, we accumulate. We are in the crypto game for the long haul and are cautiously optimistic, heck confident,…
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Right now, ETH dapps are censoring addresses (on the front-end for now), while miners like EtherMine are choosing which transactions to include in their blocks, so that they dont inadvertently include TC transactions. All of these are to comply with the OFAC sanctions. To complete this cycle, AWS which hosts a huge number of Ethereum…
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Before you go all ape on me, I'm just a rando on Reddit and my opinion doesn't move the market needle even 1 millionth of an inch. But I've said it before, I like crypto because I sense amazing opportunity to make enough money over a couple cycles to maybe have that early retirement or…
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Stephen Tual was one of the main designers behind The DAO in 2016. He sent an email last week to ethereum London meet-up that he is stepping down from running the meet-up and will be leaving ethereum for good. “I cannot, in good conscience, continue to act like 'all is well' in Web3. As of…
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Ethereum (ETH) is down 20% in the last week and triggering a negative sentiment in the market. Ethereum stalls and fails to make a comeback in the last week ETH flunks at reclaiming $2,000 level Ethereum RSI indicates a bearish stance Additionally, Ethereum also didn’t make it to the $2,000 mark. The bears are trying to yank ETH price down and pin down the bulls. Only the daily chart, there is a formation of a rising wedge pattern indicating that a bearish movement could drag on. The bulls are looking to stave off a decline shooting below the $1,700-$1,800 levels. RSI for Ethereum has also retrograded below the baseline implying that the bears are now on top of the market. According to CoinMarketCap, Ethereum is down 21% and trading at $1,571.25 as of this writing. Related Reading: Cardano (ADA) Could Shed Another 14% Off Its Price – Here’s Why Ethereum Triggers Massive Selling Pressure If ETH/USD pair continues to plunge, the next support is now clustered at the $1520-$1570 range. This new support line is the result of the convergence between 50-day moving average line and the 100-day moving average. Now, if this level breaks, a bear structure may form, that can send Ethereum dropping to $1,280. To sustain the bullish momentum, the bulls will have to maintain its price above $1,700. Ethereum has triggered a massive selling pressure as it heads south providing a knife-catching break. With Ethereum’s 21% decline, this proves to validate that the bears were able to breach the ascending wedge, an important signal for bears to penetrate the market. In the early stage, while Ethereum was nearing the $1,900 level, or making an upward progression, there is a warning sent out regarding a liquidation that may not happen until the liquidity levels reach close to $2,020. Related Reading: Chainlink In Bearish Mood As LINK Price Retreats To $8.63 ETH Pullback Projected As High As $1,900 Ethereum price reached a high of $2,030 on August 12 before it cascaded down. Now, the bears have breached the 8-day and 21-day moving averages. A pullback may probably happen over the weekend. On the other hand, another theory liked to auction market suggests that there is a possibility of retracement into the $1571 and $1450 levels. More so, the Volume Profile Indicator for ETH also confirms its bearish movement especially with the strengthening of selling pressure evident on the 1-hour time frame. The downward trend for ETH can be invalidated if the bulls can revisit the $2030 level. On the contrary, bulls that would want to dare towards knife-catching opportunities in the 1370-$1420 range may go this direction. With that, the pullback target is projected to go at a maximum of $1,984. ETH total market cap at $191 billion on the daily chart | Source: TradingView.com Featured image from Coinpedia, Chart from TradingView.com
