Category: Cryptocurrency News

Ethereum has almost made back the gains from previous weeks with yesterday’s upside move and could be gearing up for another push above resistance. The second cryptocurrency by market cap is following the general sentiment in the market and seeing some relief after the influence of macro forces lessened, for the time being. Related Reading: Uniswap Soars 14% In Last 24 Hours – Can UNI Slingshot Past $6? At the time of writing, Ethereum (ETH) trades at $1,330 with a 9% profit in the last 24 hours and a 2% loss over the past week. In the crypto top 10, ETH is one of the best-performing assets along with Solana (SOL), and Bitcoin (BTC). Will Ethereum Bulls Squeeze Out The Shorts? Yesterday, the crypto market experienced high volatility against the backdrop of the U.S. Consumer Price Index (CPI) report, the benchmark for inflation in this country. The metric printed an 8.2% for September, beating expectations, and pushing Bitcoin and Ethereum below critical support. After taking the liquidity to the downside, the market retraced back to the range that was chopping out short and long positions. According to a pseudonym trader, the volatility was unable to liquidate the sellers betting on further downside price action for Ethereum at its current levels. These positions have been piling up for several weeks, pushing the Open Interest (OI) for Ethereum futures contracts to new highs. In the coming days, if bulls can sustain the bullish momentum, the liquidation of these shorts could provide the fuel for a rally into the $1,700 area where ETH’s price stood before “The Merge”. The pseudonym trader noted the following: Despite today’s volatility and high amount of long liquidations, open interest is still quite elevated. Clearly there’s still a whole bunch of shorts open. The fact that they haven’t covered much at all at the range low indicates greed. They gotta close some time. If Shorts Are Wiped Out, How High Can ETH Soar? As mentioned, larger cryptocurrencies are back in the range in which they have been moving for over a month. Thus, the pseudonym trader believes Ethereum could break about local resistance at around $1,300 and push into the $1,400 area. As seen in the chart below, yesterday’s downside price action was violent but short-lived. Something similar could happen to the upside if the short positions are liquidated. Related Reading: Sushiswap Cracks 24% Gains As Market Rebounds; Is This A Fakeout? In the meantime, with the low-volume weekend coming up, the crypto market could experience a re-test of lower levels before gathering momentum for a fresh rally. This could place Ethereum at the top of its channel, as seen in the chart below, at $1,400. The pseudonym trader added: Considering that the entire CPI dump got fully retraced on such high volume I’m inclined to believe that we now commence our adventure back towards the top of the range. The 1200 area makes sense to long, doesn’t make sense to short, at least in my head.

Coinbase Cashback Rewards will continue to support 4% Cashback paid out in Stellar for 30 more days. This will come as a pleasant surprise for most Coinbase card users since in the past the max % would fluctuate between 2-4%, 4% usually being paid out in Stellar. Keep in mind you can immediately swap Stellar…
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ENS price outshines the market as price shows strength rallying to a high of $20. ENS tops the crypto price as it cracks over 20% gain in less than 24 hours despite the crypto bloodbath.  The price of ENS shows bullish signs as the price holds above the 50 and 200 Exponential Moving Averages (EMA) with good volume.  Despite the uncertainty that currently surrounds the cryptocurrency market, the price of Ethereum Name Service (ENS) has been one of the dark horses, rallying from $13 to $20. The crypto market suffered a new setback when the price of Bitcoin (BTC) fell from around $19,000 to $18,100 as the Consumer Price Index (CPI) indicated an increase in inflation, negatively affecting the price of BTC with altcoins affected but Ethereum Name Service (ENS) demonstrating incredible strength. (Data from Binance) Related Reading: Ethereum Price Pumps and Looks Ready For Another Leg Higher Over $1,400 Ethereum Name Service (ENS) Price Analysis On The Weekly Chart Although the crypto market experienced a sharp decline due to the CPI news, the market appeared to be manipulated as Bitcoin’s (BTC) price dropped from $19,200 to $18,200 in hours. The market quickly recovered as most altcoins began to show strength, with ENS demonstrating how to run the show. It remains to be seen whether the current bounce is a sham or will be sustained as Bitcoin Dominance rises; this will impact the price of altcoins, particularly when BTC retraces, causing more retracement for altcoins. October began looking promising for altcoins, as they had significant strength to rally. Many traders are hoping that October will be a month of Uptober for the crypto industry, which has had a difficult bear season. The price of ENS rose from a low of $7.5 to a high of $16, but that region quickly rejected the price, and ENS has struggled to hold this rejection as the price fell to $11.4 to rekindle that bullish run. The price of ENS showed tremendous strength, bouncing off $11.4 and continuing its rally to $19.9. Weekly resistance for the price of ENS – $20.5. Weekly support for the price of ENS – $16.7. Price Analysis Of ENS On The Daily (1D) Chart The daily timeframe for the price of ENS looks good, showing incredible strength as the price holds above the 50 and 200 Exponential Moving Averages (EMA), acting as support for ENS’ price on the daily timeframe.  ENS’ price needs to overcome the resistance at $20.5, a break and close above this region would send the price of ENS to a high of $25-$27. If the price fails to break above, we could retest the support at $16.77 Daily resistance for the price of ENS – $20.5. Daily support for the price of ENS – $16.77. Related Reading: Dogecoin Can Regain Losses If DOGE Extricates Itself From This Level Featured Image From zipmex, Charts From Tradingview 

The fun could be over at $20,000, analysis warns as U.S. equities feel the burn and the dollar makes up for lost time.

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One month after the merge, mev-boost relays expanded its market share as block builders, data shows.

Hello everyone ! I have a question, how can I implement a simple voting system based on the blockchain in a company or any organisation ? I want that the people in the organization could vote on basic things with all the benefits that the blockchain provides (transparancy, pseudonymity, auto-check etc..). Once they all have…
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I’m relatively new to the space, but after looking at some popular wallets like meta mask it seems they all use big platforms like infura or alchemy to actually interact with ethereum (they strive to be the “AWS of web3” which is such a counter productive analogy). The Achilles heel of all these nice wallets…
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Bitcoin saw a shaky market day following the release of the CPI data. While the projections for the inflation rates were high, they would come out lower than the actual number and the crypto market had responded negatively to the news. Bitcoin had fallen below $19,000 as the market had bled, but there had been a turnaround towards the end of the trading day. The question now remains if the digital asset would be able to hold these gains. Can Bitcoin Keep Up? Over the last 24 hours, the price of bitcoin has risen more than 6%, bringing it close to the $20,000 resistance level. This level remains hard to beat for the digital asset due to the resistance being mounted at this junction by bears and indicators point to bitcoin not being able to rise above this level. Related Reading: Shiba Inu Adds Another Zero, Is It Time To Jump Ship? Fuad Fatullaev, Co-Founder and CEO at Web3 ecosystem WeWay, explained that bitcoin was already known to react to the CPI data release in such a way. And since there is no expected slowdown in inflation rates in the near future, retail and institutional investors are wary of getting into the market.  It is likely that inflation will continue to remain above 8% and this will cause the Fed to tighten its policy. The result of this will be a bad market environment for risk assets such as bitcoin. The broader market will likely tank, taking the cryptocurrency market down with it. BTC rebounds to $19,600 | Source: BTCUSD on TradingView.com “Unfortunately, the market is still billed to face a significant headwind as inflation is still likely to remain above 8% and this will not deter the FOMC from maintaining its hawkish stance,” Fatullaev told NewsBTC. The CEO further added that the recovery in price does not mean that bitcoin would not see more downside.  Related Reading: Why Crypto Market Sentiment May Present A Unique Buying Opportunity “It is not yet free from any further negative downswing. As such, more intense negative selling pressure that may be ushered in will definitely depress the price of the asset some more and investors will rather want to stay on the sidelines and will be targeting a perfect entry point after the volatility introduced by the inflation report has subsided.” Bitcoin would need to clear its 50-day moving average to establish another bull trend but the resistance at $20,000 will likely make that impossible. Nevertheless, the accumulation trend will provide much-needed momentum for the digital asset if it continues. Featured image from Investor’s Business Daily, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…