Category: Cryptocurrency News

TrigonX is back from the dead after it went into receivership in December, due in part to its $13 million exposure to bankrupt crypto exchange FTX.

Ethereum price corrected gains from the $1,920 resistance against the US Dollar. ETH is currently supported and might soon aim for a move toward $2,000. Ethereum is currently eyeing a fresh increase above the $1,920 resistance zone. The price is trading above $1,880 and the 100-hourly Simple Moving Average. There is a major bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $1,920 resistance. Ethereum Price Remains Supported Ethereum’s price started a decent increase above the $1,800 resistance. ETH even broke the $1,880 level before the bears appeared near $1,920 and pushed the price lower, similar to Bitcoin. There was a downside correction below the $1,900 and $1,885 levels. The price spiked below the 50% Fib retracement level of the upward move from the $1,836 swing low to the $1,929 high. However, the bulls were active above the $1,870 level. There is also a major bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $1,836 swing low to the $1,929 high. Ether is still trading above $1,880 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,910 zone. The next major resistance is near the $1,920 level. A close above the $1,920 resistance could send Ether toward $2,000. Source: ETHUSD on TradingView.com The next resistance sits near $2,040, above which Ethereum could gain pace toward $2,120. Any more gains above the $2,120 resistance zone might send the price toward the $2,200 resistance. More Losses in ETH? If Ethereum fails to clear the $1,920 resistance, it could continue to move down. Initial support on the downside is near the $1,885 level. The next major support is near the $1,870 zone or the trend line. If there is a close below the $1,870 support, the price could decline toward the 100 hourly SMA. Any more losses may perhaps send the price toward the $1,815 level in the coming sessions, below which it could test $1,800. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $1,870 Major Resistance Level – $1,920

Bitcoin price is correcting gains from $28,400. BTC must stay above the $27,500 support to start a fresh increase in the near term. Bitcoin is correcting gains below the $28,000 support zone. The price is trading above $27,500 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if the bulls manage to protect the $27,500 support. Bitcoin Price Corrects Lower Bitcoin price started a decent increase above the $28,000 resistance zone. However, BTC struggled to clear the $28,400 and $28,500 resistance levels. A high was formed near $28,450 and the price started a downside correction. There was a move below the $28,000 support zone. The price declined below the 50% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high. Besides, there was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC/USD pair. Bitcoin price is still trading above $27,500 and the 100 hourly Simple moving average. It is finding bids near the 61.8% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high. Immediate resistance on the upside is near the $27,800 level. The next major resistance is near the $28,000 level. Source: BTCUSD on TradingView.com An upside break above $28,000 might send the price toward the main resistance at $28,500. A close above the $28,500 resistance zone might start a strong increase toward the $29,200 resistance zone. The next key resistance is near $29,400, above which the price might rise toward the $30,000 resistance. More Losses in BTC? If Bitcoin’s price fails to clear the $28,000 resistance, it could continue to move down. Immediate support on the downside is near the $27,580 level. The next major support is near the $27,500 zone, below which the price might gain bearish momentum. In the stated case, the price could decline toward the $27,150 support and the 100 hourly Simple moving average. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is above the 50 level. Major Support Levels – $27,580, followed by $27,500. Major Resistance Levels – $28,000, $28,400, and $28,500.

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More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply.

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Hong Kong’s retail trading regime is days away from going live and crypto exchanges are keen to make entry into the region.