Risk profile of crypto markets similar to oil and tech: Coinbase
A hedge against the traditional market? Nope, crypto assets are now looking closer in risk profile to oil and gas, or EV stocks like Tesla, says Coinbase Institute’s chief economist.
A hedge against the traditional market? Nope, crypto assets are now looking closer in risk profile to oil and gas, or EV stocks like Tesla, says Coinbase Institute’s chief economist.
Ethereum is showing positive signs above the $1,100 zone against the US Dollar. ETH could rise further above the $1,170 resistance zone. Ethereum gained strength for a move above the $1,100 and $1,120 levels. The price is now trading above $1,120 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a move above the $1,170 resistance zone. Ethereum Price Remains Supported Ethereum made another attempt to clear the $1,165 and $1,170 resistance levels. However, the bears were active near the $1,170 level. The recent high was formed near $1,169 before there was a downside correction. The price traded below the $1,150 and $1,130 support levels. Ether price traded below the 50% Fib retracement level of the upward move from the $1,076 swing low to $1,170 high. However, the bulls seem to be active near the $1,120 support zone. It also found support near the 61.8% Fib retracement level of the upward move from the $1,076 swing low to $1,170 high. Ether is now trading above $1,120 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,120 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,150 level. Source: ETHUSD on TradingView.com The next major resistance is near the $1,170 zone, above which the price may perhaps surpass the $1,200 resistance. In the stated case, the price could rise towards the $1,250 resistance. Any more gains might send the price towards the $1,320 zone. Fresh Decline in ETH? If ethereum fails to rise above the $1,170 resistance, it could start another downside correction. An initial support on the downside is near the $1,120 zone. The next major support is near the $1,100 zone and the 100 hourly simple moving average. A downside break below the $1,100 support may perhaps spark another decline. In this case, the price might drop towards the $1,070 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,100 Major Resistance Level – $1,170
I'm not involved in Celsius in any way. I had no funds nor did I particularly care about them either way. I thought perhaps some of the things they were doing may have been too good to be true, but my decision to stay away was more out of laziness than anything else. However, their…
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Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by […]
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My understanding is that if a zkrollup operator suddenly ceases operation, you have to sync the rollup’s history from genesis to get the current state. In other words, if the transaction data has been posted to 500 ethereum blocks, you would need all the data from all 500 blocks to recreate current state. Is this…
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The underlying tech of a central bank digital currency wasn’t enough to convince some panelists at a Fed conference that it could change the international currency system.
Everytime someone is excited about a coin, or bull market, or just trying to shill shitcoins, somehow , somewhere along the lines of the shill, we hear, "I know this guy that knows EVERYTHING about crypto!". "This guy I know makes so much money!". And you know what he said? What? "He said he's all…
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Bitcoin spiked above the $20,500 resistance against the US Dollar. BTC is now struggling near $19,800, with a major support near the $19,600 zone. Bitcoin made another attempt to gain strength above $20,500 but failed. The price is now trading above the $19,500 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $19,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise again unless there is a clear move below the $19,500 support zone. Bitcoin Price Faces Hurdles Bitcoin price remained supported above the $19,500 zone. BTC started another increase and climbed above the $20,000 resistance zone. There was a spike above the $20,500 resistance zone but the bulls failed to gain strength. A high was formed near $20,732 and the price corrected gains. There was a drop below the $20,200 and $20,000 support levels. Bitcoin traded below the 50% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high. It is now trading above the $19,500 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,550 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $20,000 and $20,200 levels. The next key resistance is near the $20,500 zone. A close above the $20,500 resistance zone could open the doors for a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price could climb towards the $21,200 level. The next major resistance sits near the $21,500 level. More Losses in BTC? If bitcoin fails to clear the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,650 level. It is near the 76.4% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high. The next major support now sits near the $19,500 level or the trend line zone. A close below the $19,500 support zone could increase selling pressure. In the stated case, the price may perhaps decline towards the $18,740 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $19,650, followed by $19,500. Major Resistance Levels – $20,200, $20,500 and $21,200.
Mad Money host Jim Cramer has changed his sentiment on crypto again, predicting the total market cap will tank below $1 trillion as “there’s no real value there.”