Category: Cryptocurrency News

Buterin has advocated preserving Ethereum consensus minimalism and not overloading validators with other things.

Move over Bitcoin, Ordinals on Litecoin and Dogecoin have unleashed a frenzy of transactions.

Tron price is up over 5% and gaining pace above $0.072 against the US Dollar. TRX outperformed Bitcoin and could rise further toward $0.080. Tron is trading in a positive zone above the $0.0720 pivot level against the US dollar. The price is trading above $0.072 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.0728 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair is likely to continue higher if it clears the $0.0765 resistance level. Tron Price Rallies 5% In the past few sessions, Tron’s price gained pace above the $0.0700 level against the US Dollar, outperforming Bitcoin and Ethereum. TRX broke many hurdles near the $0.072 resistance and the 100 simple moving average (4 hours). The price traded close to the $0.0780 resistance. A high is formed near $0.0768 and the price is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $0.0668 swing low to the $0.0768 high. It is now trading above $0.072 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0728 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0750 zone. Source: TRXUSD on TradingView.com A close above the $0.0750 resistance might send TRX further higher. The next major resistance is near the $0.0768 level, above which the bulls are likely to aim a larger increase toward the key $0.0800 zone in the coming sessions. Any more gains could set the pace for a move toward the $0.082 level. Dips Likely to be Limited in TRX If TRX price fails to clear the $0.0768 barrier, it could correct lower. Initial support on the downside is near the $0.0728 zone and the trend line. The next major support is near the $0.0720 level or the 50% Fib retracement level of the upward move from the $0.0668 swing low to the $0.0768 high. The main support is $0.0700, below which there is a risk of a move toward the $0.0668 support. Technical Indicators 4 hours MACD – The MACD for TRX/USD is losing momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 65 level. Major Support Levels – $0.0728, $0.0720, and $0.0700. Major Resistance Levels – $0.0750, $0.0768, and $0.080.

Ethereum price is facing a barrier near the $1,840 resistance against the US Dollar. ETH could attempt another upside break if it clears the $1,825 and $1,840 resistance levels. Ethereum is currently facing many barriers near the $1,840 resistance zone. The price is trading below $1,810 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,805 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it clears the $1,825 and $1,840 resistance levels. Ethereum Price Stuck Below $1,840 Ethereum’s price failed another time to clear the $1,840 and $1,850 resistance levels. ETH declined below the $1,800 level to remain in a range, similar to Bitcoin. However, the price remained stable above the $1,785 support. A low is formed near $1,791 and the price is now consolidating losses. It is slowly moving higher above the 23.6% Fib retracement level of the recent decline from the $1,828 swing high to the $1,791 low. Ether is now trading below $1,810 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,805 on the hourly chart of ETH/USD. Immediate resistance is near the trend line zone. The first major resistance is near the $1,810 level and the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level of the recent decline from the $1,828 swing high to the $1,791 low. Source: ETHUSD on TradingView.com The next resistance sits near $1,825, above which Ethereum could rise toward $1,840. If there is a close above the $1,840 resistance level, the price might gain bullish momentum toward the $1,920 level. Any more gains above the $1,920 resistance zone could start a steady increase toward the $2,000 resistance. More Losses in ETH? If Ethereum fails to clear the $1,810 resistance, it could start another decline. Initial support on the downside is near the $1,785 level. The next major support is near the $1,770 zone. If there is a close below the $1,770 support, the price could gain bearish momentum. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps take the price toward the $1,700 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is below the 50 level. Major Support Level – $1,770 Major Resistance Level – $1,825

submitted by /u/peskyant [link] [comments]

Bitcoin price is holding the key $26,550 support zone. BTC could start a major decline if there is a close below $26,550 and $26,400. Bitcoin started another decline and traded below the $26,850 level. The price is trading below $27,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a daily close below $26,550. Bitcoin Price Remains In A Range Bitcoin price started a fresh decline below the $27,000 level. BTC traded below the $26,800 support zone and trimmed most of its gains. However, the bulls were active near the $26,550 support. A low is formed near $26,536 and the price is now consolidating losses. It is clearly showing bearish signs below $27,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC/USD pair. Bitcoin price is now facing resistance near the $26,720 level. It is close to the 23.6% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low. The next major resistance is near the $27,000 level and the 100 hourly Simple moving average. It is close to the 61.8% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low. The first major resistance is near the trend line. Source: BTCUSD on TradingView.com A close above the $27,120 resistance might reduce selling pressure. The next key resistance is near $27,550, above which the price might start a decent increase toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level. More Losses in BTC? If Bitcoin’s price fails to clear the $27,120 resistance, it could continue to move down. Immediate support on the downside is near the $26,550 level. The next major support is near the $26,350 zone, below which the price might gain bearish momentum. In the stated case, it could test the $25,800 level. Any more losses might take Bitcoin toward the $25,500 level in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $26,550, followed by $26,350. Major Resistance Levels – $27,000, $27,120, and $27,500.

It was warned that the amount stolen in Q1 2023 mirrors Q2 2022, which was followed by a “record setting number of hacks.”

On May 20, Caitlin Long, the founder of Custodia Bank, retweeted and revived an intriguing question posed by Adam Back, CEO of Blockstream, on whether the number of the so-called Bitcoin “wholecoiners” has peaked. Is The Number Of Bitcoin Wholecoiners Peaking? Her question is when the number of wholecoiners, or individuals holding at least 1 BTC, soared above the 1 million mark last week. While the rising number of wholecoiners points to possible adoption and rising BTC demand over time, market forces could end up capping their numbers. Related Reading: Bitcoin Plunges Below $27,000 As Miners Show Signs Of Selling She reckons that as Bitcoin prices increase, it would be more expensive for a would-be wholecoiner to purchase the asset. Therefore, based on these factors, it may be unlikely that there will be 10 million in the coming years. ARE WE AT PEAK WHOLE-COINERS in #bitcoin asks @adam3us? 1M whole-coiners today. Probably couldn’t reach 10M whole-coiners ever tho, bc bitcoin’s price would be bid up too high to reach that given the 21M supply cap… pic.twitter.com/vzRvv2vyAW — Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) May 20, 2023 On May 13, Glassnode, an on-chain analytics firm, revealed that the number of addresses managing at least 1 BTC had broken above the 1 million mark and continues to steadily grow. This upward trend has remained consistent, weathering the impact of the crypto winter which saw BTC prices crumble from over $69,000 registered in November 2021 to less than $16,000 in Q4 2022. Despite this impressive trend, Long and Adam’s observations may cast doubt on whether this could continue in the long haul, pushing the number of wholecoiners to double digits. By design, Bitcoin is deflationary and there will be 21 million BTC to ever circulate. As inflation also reduces due to BTC halving roughly every four years, coin holders expect BTC prices to gradually increase over the years. Based on historical performance and increasing crypto adoption, market forces could drive BTC prices higher, making it challenging for more users to own 1 BTC currently trading at over $26,900 as on May 21. Less Than 2.5% Of BTC Addresses Are Wholecoiners While the number of wholecoiners has been steadily rising, there is a division between long-term investors and short-term speculators. Long-term Bitcoin holders have demonstrated resilience during market fluctuations, retaining their positions rather than selling. On the other hand, speculators are known more for exiting for USDT and cash during times of heightened volatility. For their actions, short-term holders or speculators have been labeled as “weak hands”. Related Reading: Bitcoin And Ethereum Supply Drops To Record Lows Unseen Since 2015 And 2017 So far, BitInfoCharts data shows that less than 2.5% of all Bitcoin addresses hold at least 1 BTC. As of May 21, addresses with between 1 and 10 BTC stood at 2.1% of the total. Meanwhile, the number of whales, or those holding above 100 BTC represented less than 0.033% of the total addresses. Roughly 93% of all Bitcoin addresses held between 0.00001 and 0.0001 BTC. -Featured Image From Canva, Chart from TradingView