Category: Cryptocurrency News

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Ethereum, the world’s second biggest cryptocurrency, has continued its downward trajectory, passing through the $1,200 level. To date, the exchange rate has reached $1,170.49. Data from CoinGecko shows that the coin has been trading at a loss on a weekly basis. Related Reading: Tron Latest Update Seen Giving TRX Price A Boost – Here’s Why Here’s a quick glance at how ETH has been performing: The price of ether is currently below the $1.2k range Investors are preparing to sell, as shown by the high exchange netflows If the bears manage to push beyond the $1,152 support level, the next important support is located at the $906 level After initially plunging as rumors of an impending FTX collapse hit the market, the price eventually settled into a sideways trend and has remained there since. However, the trading range for this sideways movement is beginning to contract. The formation of a relief rally is being jeopardized by the current trading range. More losses are on the way for the Ethereum market, therefore would-be buyers and sellers of ETH should proceed with caution. Ethereum Relief Rally In The Offing? As the Bollinger band constricts around the $1,199 price range, the chance of a relief rally increases. ETH has been trading between $1,306 and $1,092.85 as of this writing. As the Bollinger band shrank, so would this. In addition, CryptoQuant observes a high exchange netflow, which indicates an increase in exchange reserves. This signifies that traders and dealers are preparing to sell their ETH. The RSI statistics provide support for the bears. Currently, the data are crossing each other bearishly and going towards the oversold region. However, when the RSI recovers over the next few days or weeks, investors and traders could use this to their advantage for a little price increase. In contrast, the MFI indicator swings in opposition to the downward trend, indicating a possible turnaround. Steering Clear Of The Ascending Triangle Previous price fluctuations have produced an ascending triangle with a narrow base. This is followed by a bearish breakout, which in this case might occur around $1,152. ETH bulls should then keep an eye on the $1,152 support, as a breach here might portend further losses. A bearish breach below the indicated support level will likely bring the price below ETH’s important support at $906. Despite the fact that such a decline would be catastrophic for ETH investors, short positions would profit substantially in an otherwise unfriendly crypto market. Related Reading: Ethereum Tries To Keep Luster As ETH Moves To Narrower Trading Range ETH total market cap at $143 billion on the daily chart | Featured image from TradeMap, Chart: TradingView.com

Cristosal, a Salvadoran nonprofit human rights organization, has filed three lawsuits related to President Nayib Bukele’s management of public funds to purchase bitcoin. The processes are being run before several national and international bodies, and call for the government to offer information on these purchases. President Nayib Bukele Sued by Salvadoran Nonprofit Cristosal On Nov. […]

PRESS RELEASE. Minimax.Finance integrated the recently launched VERSE DEX to provide the Minimax community with more options for cost-effective swaps on Ethereum network. VERSE pools are also available at the platform. The Minimax team has integrated VERSE DEX into Minimax’s swap section; now Minimax users can enjoy all the DEX benefits, including security and the […]

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News media(as usual) as well as people in the community have been freaking out, questioning if this is the time when crypto will fall into a deep dark winter. People are thinking that the fall of the second largest crypto platform will pull the rug out from under the entire industry. This is not so.…
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BTC’s price holds above $16,000 price struggles to break above $17,000, creating more worry for many traders  Price remains weak as bears battle bulls, as the price fails to break above $17,500 with so much uncertainty in the market  Rejection from a low of $17,000 on the high timeframe noted, as price trades above $16,000 below the 50 Exponential Moving Average (EMA) The price movement demonstrated by Bitcoin (BTC) recently hasn’t given traders and investors much chance to trade with liberty as prices continue in a dead cat bounce with more expectations heading toward a downside. In the high timeframe, the price of Bitcoin (BTC) looks heavy toward a downtrend movement compared to an upside. Despite the relief bounce and uncertainty surrounding the crypto market, the FTX fiasco continues to act as a catalyst for the market to bottom out. The Domino effect of the FTX saga and other large investors has stalled the market, as it has yet to make a significant move, raising concerns about the market’s direction. (Data from Binance) Related Reading: Ethereum Price Could Avoid a Major Drop if it Closes Above $1,250 Bitcoin (BTC) Price Analysis On The Weekly Chart Despite the relief bounce across the market, with the price of BTC rallying from a weekly low of $15,500 to a high of $17,000, the crypto market remains in an uncertain and turbulent state that has affected the price of Bitcoin (BTC). Many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement.   BTC’s price had a weekly close below a crucial area of $16,500 after showing so much strength rallying to a high of $17,000, where its price was rejected from trending higher. After BTC’s price declined from a weekly high of $17,000 to a region of $16,200, the price has struggled to regain such strength it has rallying to this high with more speculation of price retesting the region of $14,000 if the price of BTC closes below its previous monthly close of $19,000. Weekly resistance for the price of BTC – $16,500. Weekly support for the price of BTC – $15,000-$14,000. Price Analysis Of BTC On The Daily (1D) Chart The price of BTC remains considerably weak in the daily timeframe after closing below $16,500. With BTC’s price unable to break above $17,000, there are high chances of price retesting the regions of $15,500, where the price was bought up instantly from going lower. BTC’s price currently trades at $16,200 below the 50 and 200 EMA, acting as resistance for the price of BTC from trading higher. The price of BTC needs to break above $18,500 and $24,000 for the price of BTC to kickstart the price recovery plan. If the price of BTC fails to flip the region of $18,500 and $24,000 corresponds to 50 and 200 EMA and gets rejected below $15,000, we could see more rejections for BTC price to a region of $14,000 and even lower.  Daily resistance for the BTC price – $17,000. Daily support for the BTC price – $15,500. Related Reading: Bitcoin Price Prediction: This Scenario Will Trigger A Fresh Drop Featured Image From Canvas, Charts From Tradingview

Dogecoin rallied towards the $0.108 level against the US Dollar. DOGE is correcting gains and approaching a major support at $0.090. DOGE started a downside correction from the $0.1080 resistance against the US dollar. The price is trading well above the $0.0850 zone and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.090 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair must stay above the $0.088 support zone to start a fresh rally. Dogecoin Price Aims Fresh Increase In the past few days, dogecoin saw a major increase above the $0.0850 resistance zone. DOGE climbed above the $0.0920 and $0.0950 resistance levels, outpacing bitcoin and ethereum. The price even jumped above the $0.100 resistance and settled above the 100 simple moving average (4-hours). However, the bears took a stand near the $0.1080 resistance zone. A high was formed near $0.1077 and the price started a downside correction. Doge price corrected lower below the $0.100 support. There was a move below the 23.6% Fib retracement level of the upward move from the $0.0713 swing low to $0.1077 high. It is now trading well above the $0.0850 zone and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.090 on the 4-hours chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.0980 level. Source: DOGEUSD on TradingView.com The first major resistance is near the $0.1000 level. Any more gains above the $0.1000 zone could encourage the bulls to aim a retest of $0.1080. If they push the price above $0.1080, there could be a rally towards the $0.120 level. More Losses in DOGE? If DOGE price fails to gain pace above the $0.10 level, it could continue to move down. An initial support on the downside is near the $0.0920 level. The next major support is near the $0.090 level and the trend line. If there is a downside break below the $0.0960 support, the price could decline further. The main support is near the $0.0850 level. Any more losses could open the doors for a move towards the $0.0780 level. Technical Indicators 4-Hours MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.0900, $0.0880 and $0.0850. Major Resistance Levels – $0.0980, $0.1000 and $0.1080.

I'll say one, that is not mine, but my brother's. He says that he can't be sure that BTC wasn't created by some governmental institution, like CIA, to ultimately control all of us. Yeah, sure, no one controls the creation of new btc but the protocol. But ultimately, this is a great way of controling…
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