Category: Cryptocurrency News

Ethereum bulls defended the $1,220 support zone against the US Dollar. ETH is rising and might aim a strong bullish wave above the $1,300 resistance zone. Ethereum remained well bid and strong above the $1,220 zone. The price is now trading above $1,250 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,245 on the hourly chart of ETH/USD (data feed via Kraken). The pair is showing positive signs and might eye an upside break above the $1,300 resistance. Ethereum Price Remains Stable Ethereum price extended its decline below the $1,250 level. ETH even moved below the $1,240 support level and the 100 hourly simple moving average, similar to bitcoin. However, the bulls were active near the $1,220 support zone. They defended more losses and slowly ether price moved higher. There was a move above the $1,240 and $1,250 levels. There was a break above the 50% Fib retracement level of the key decline from the $1,304 swing high to $1,220 low. Besides, there was a break above a major bearish trend line with resistance near $1,245 on the hourly chart of ETH/USD. The pair is now trading above $1,250 and the 100 hourly simple moving average. It is consolidating near the 76.4% Fib retracement level of the key decline from the $1,304 swing high to $1,220 low. An immediate resistance on the upside is near the $1,290 level. The first major resistance is near the $1,300 zone. Source: ETHUSD on TradingView.com A close above the $1,300 resistance might start a fresh increase. The next major resistance is near the $1,320 level, above which ether price could gain bullish momentum for a move to $1,400. Any more gains might send the price towards the $1,450 resistance zone. Fresh Decline in ETH? If ethereum fails to climb above the $1,300 resistance, it could start another drop. An initial support on the downside is near the $1,260 level and the 100 hourly simple moving average. The next major support is near the $1,220 level. If there is a break and close below $1,220, the price could drop towards the $1,200 support. Any more losses could lead the price towards the $1,165 support. 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 correcting from the overbought zone. Major Support Level – $1,220 Major Resistance Level – $1,300

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Circle is throwing some shade at Tether here, the stablecoin wars have officially begun. This comes a few months after Binance did the same to USDC. BUSD vs USDT vs USDC should be a very interesting in the coming few months. The coinbase blog is lterally named, "Switch to the trusted and reputable digital dollar:…
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MySpace was one of the first massively successful social media websites. Many would consider it to be ahead of it's time, as it reached widespread popularity before sites like Twitter and Facebook were invented. Moreover, MySpace found success well before social media became a cornerstone of the internet and web 3.0. While MySpace was successful,…
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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. “I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero,” O’Leary said. Kevin O’Leary Was Paid $15M by FTX Shark […]

The Polkadot price has attempted to break past its immediate resistance several times during the first week of December. Despite that, the bulls could not build on their strength. This suggests that the coin’s buying power remained low at higher price levels for the altcoin. The technical outlook for the coin depicted a fall in demand. Accumulation has remained quite low for Polkadot throughout the month of November and the first few weeks of December. DOT increased 2% over the last 24 hours, but that doesn’t reflect bullishness on the one-day chart. The Polkadot price has to trade above the $5.71 mark to target $6. The $5.71 price resistance has been a strong barrier for the coin. Broader market strength and a push from buyers can only help the altcoin move north. Polkadot market capitalization also declined, indicating that bearish strength still prevailed. Related Reading: MATIC Price Battles Under $1 Despite Bullish Signals Polkadot Price Analysis: One-Day Chart DOT was trading at $5.30 at press time. Although the coin crossed the $5 mark, the bears could drag the price to $4.30. Immediate resistance for Polkadot was at $5.71, breaching which DOT could have a shot at $6. On the other hand, the first line of support stood at $4.50, falling through which the coin will rest at $4 if DOT does not lose momentum, which appears unlikely given the low demand for the altcoin. A bounce off the $5 mark could help Polkadot move above the $5.70 mark. Toppling the $5.70 level will give DOT a chance to rally to $6.21. The amount of Polkadot traded in the last session remained low, which meant bearishness on the chart. Technical Analysis DOT depicts that buyers have lost interest in the altcoin. The Relative Strength Index (RSI) fell closer to the 40-mark, meaning that buying strength was much lower than selling strength on the chart. The Polkadot price had tried to move above the 20-Simple Moving Average (SMA) line several times in the past few weeks. Despite that, the bulls lost steam. At the moment, the Polkadot price was below the 20-SMA line, which indicated low demand and that sellers were driving the price momentum in the market. The other technicals also pointed towards negative price action. The Directional Movement Index was negative, as the -DI (orange) line was above the +DI (blue) line. The Average Directional Index (red) indicates the strength of the price momentum; it was above the 20 mark but noted a downtick. This downtick denoted a loss in the strength of the price momentum. Bollinger bands depict price volatility and fluctuation. The bands were constricted, indicating range-bound movement and low volatility for the altcoin. Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC Featured image from Unsplash, Chart: TradingView.com

The Senate banking committee set a deadline for Sam Bankman-Fried to respond to the request on Dec. 8 at 5pm ET.

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