Category: Cryptocurrency News

Twitter’s new owner says they’ll be throwing a heap of new ideas at the platform over the coming months.

There’s 2 main narratives going on in the crypto verse right now. The first is hopeful… “The fundamentals haven’t changed, and now is a great time to buy with the price this low. Stick to the blue chip cryptos and you’ll be good next bull run. Buy!” The second is fearful “This is just the…
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Ethereum extended losses below the $1,200 support against the US Dollar. ETH is consolidating and might even test the $1,000 support zone in the near term. Ethereum started a major decline below the $1,320 and $1,250 levels. The price is now trading below $1,250 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair is recovering, but upsides might be limited above the $1,200 resistance zone. Ethereum Price Dives Over 15% Ethereum remained in a bearish zone after it settled below the $1,500 level. ETH broke many important support zones near $1,300 to move further into a negative zone. The price gained pace below the $1,300 and $1,250 support levels. It even settled below the $1,200 level and the 100 hourly simple moving average. Ether price traded as low as $1,070 and recently started an upside correction, similar to bitcoin. There was a minor increase above the $1,120 resistance level. The price is now trading above $1,150 and facing many hurdles. An immediate resistance on the upside is near the $1,190 level. There is also a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD. The trend line resistance is near the 23.6% Fib retracement level of the recent drop from the $1,580 swing high to $1,070 low. The next major resistance is near the $1,240 level. A clear break above the $1,240 resistance could set the pace for a decent increase. Source: ETHUSD on TradingView.com In the stated case, the price could rise to the $1,320 level. It is near the 50% Fib retracement level of the recent drop from the $1,580 swing high to $1,070 low. Any more gains might send the price toward the $1,400 resistance zone. More Losses in ETH? If ethereum fails to climb above the $1,240 resistance, it could continue to move down. An initial support on the downside is near the $1,120 level. The next major support is near the $1,070 level, below which ether price may perhaps extend losses. In the stated scenario, the price could decline towards the $1,000 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,120 Major Resistance Level – $1,240

Moneyfellows, an Egyptian fintech startup specializing in digitizing money circles, recently announced the close of its Series B funding round that raised $31 million. The funds will be used to finance Moneyfellows’ expansion into other markets as well as accelerate the fintech’s growth. Diversifying Moneyfellows’ Portfolio Egyptian fintech startup Moneyfellows recently revealed it had raised […]

“We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves,” the Crypto.com CEO said.

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The story between cryptocurrency exchanges Binance and FTX has quickly unfolded and caused havoc in the crypto market, here’s a breakdown of where it began and where it is now.

According to reports, FTX CEO Sam Bankman-Fried asked investors for emergency funding to cover an $8 billion shortfall during a Nov. 9 investors call.

Bitcoin price declined over 15% and even traded below $16,000. BTC remains at a risk of more losses if it breaks the $15,000 support zone. Bitcoin remained in a bearish zone after the FTX collapse and declined below $16,000. The price is trading below $17,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $16,500 and $17,000 levels. Bitcoin Price Tumbles Bitcoin price remained in a bearish zone after it settled below the $20,000 support zone. Binance opted out to bail FTX, resulting in an increase in selling pressure. BTC declined below the $18,500 and $17,000 levels. The crypto market is bleeding and many altcoins such as ethereum, bnb, ripple are down over 15%. Bitcoin price also gained bearish momentum and traded below the $16,000 support level. The price traded as low as $15,555 and is currently consolidating losses. It is trading below $17,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $16,400 level. The first major resistance is near the $16,650 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low. Source: BTCUSD on TradingView.com A clear move above the trend line resistance and $16,675 might start a decent recovery wave. The next major resistance is near $18,000 or the 50% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low, above which the price could test the $20,000 zone. More Losses in BTC? If bitcoin fails to start a recovery wave above the $16,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $15,800 level. The next major support is near the $15,500 zone. A clear move below the $15,500 support might push the price further lower. In this case, the price may perhaps decline below the $15,000 support zone. 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 30 level. Major Support Levels – $15,800, followed by $15,500. Major Resistance Levels – $16,500, $16,675 and $18,000.