The U.S. dollar value of the recently airdropped coin native to the forked Ethereum proof-of-work (PoW) blockchain will be at par with that of ether, Chandler Guo, the instigator of the latest Ethereum hard fork, has said. Guo added that he expects the value of the token, which is currently “very cheap,” to grow by […]
As expected, Ethereum has been doing poorly since the much-touted Merge event. This was a groundbreaking moment for the crypto industry. Although the Merge was anticipated to boost investor confidence, it occurred at the worst possible time. The Merge took place at an interesting point in crypto history. The update went up on September 15—just two days after the United States CPI data was made public. There was a widespread selloff in the stock markets because of the Federal Reserve’s interest rate increase, reporting its annual inflation rate hike of 0.1%, and affecting the cryptocurrency market. On the day of publication, Bitcoin dropped 12.71 percent, and Ethereum fell 12.67 percent. The timing of the Merge’s launch was a last-ditch effort to maintain or perhaps boost investors’ trust. However, that did not actually occur. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level Ethereum (ETH) Price Down 21% When everything was said and done, the Ether’s price had dropped by 21.1% compared to its 7-day moving average, as measured by CoinGecko. But @CryptoGucci, a Twitter user, disputes this. One Twitter user explained why the recent price decline shouldn’t be worrying. The increasing prevalence of Ethereum validators on the blockchain is a prime example. This increase in validators can improve the Ethereum blockchain’s overall efficiency. Additionally, the state of Colorado has accepted ETH as a payment method through PayPal. However, this payment method is exclusive to personal PayPal accounts and not commercial ones. Nonetheless, this will undoubtedly aid the adoption of the ETH ecosystem. Is An ETH Recovery Imminent? Recent data indicate that ETH is witnessing a positive price increase. After a near-freefall to $1,243, the price has rebounded and is currently trading between $1,221 and $1,323. Multiple indicators also depict a strengthening bullish momentum. Since the decline to the critical support level, stochastic relative strength index (RSI) values have risen, indicating that investor confidence is rebounding after a dreadful few days. But are new changes sufficient to halt the current 0.75 percent interest rate increase? As the cryptocurrency market closely mirrors the broader financial environment, the recent movements may be temporary. Wall Street’s indices have declined by a few percentage points as of this writing, and this decline can have a significant impact on the cryptocurrency market. As the third fiscal quarter draws to a close, Ethereum may experience a slow but gradual comeback. Related Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally? ETH total market cap at $163.7 billion on the daily chart | Source: TradingView.com Featured image from CryptoMode, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).
Specifications on Zilliqa’s “user-friendly” console are yet to be revealed, but a prototype design resembling an Xbox console has been released.
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Ethereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance. Ethereum started a recovery wave above the $1,250 and $1,300 levels. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover further it clears the key $1,400 resistance zone. Ethereum Price Recovers Ethereum managed to stay above the $1,220 support zone. ETH started an upside correction above the $1,250 level after ripple’s xrp started a strong upward move. Ether price was able to clear the $1,260 and $1,280 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. It is now trading above $1,300 and the 100 hourly simple moving average. It seems like the price is trading in a positive zone above the $1,320 level. On the upside, the price is facing resistance near the $1,380 level. There is also a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH/USD. The trend line is near the 76.4% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. Source: ETHUSD on TradingView.com The next major resistance is near $1,400 level. A clear break above $1,400 might start a decent increase towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance. Fresh Decline in ETH? If ethereum fails to recover above the $1,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,330 zone and the 100 hourly simple moving average. The next major support is near the $1,288 level. A downside break below the $1,288 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,220 level in the near term. Any more losses could increase selling and the price might drop to $1,150. 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 above the 50 level. Major Support Level – $1,288 Major Resistance Level – $1,400
Defined by https://ccmoons.com/, this massive subreddit has a bit of diversity of vault owners. If you have atleast 1000 moons, also known as being a Turtle or above, you are in the top 5000 accounts. Doesn’t take much to have more moons than the majority of this subreddit. You only really need to contribute to…
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Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage.
Huobi Global, one of the biggest exchanges in volumes traded, has announced a partnership to make it easier for its Latam-based customers to acquire cryptocurrencies. The exchange has allied with Astropay, a payment services platform, to allow customers in Latam to purchase cryptocurrency with fiat currencies in several countries. Huobi to Make Crypto Easier to […]
Earlier this week, the Israeli crypto exchange became the first crypto firm in the country to receive a license enabling it to work with local banks.
I see thousands of them pop up. Many rug. Many die. But some survive. Some even grow big. At what point is an alt considered legitimate? I’m still rather new. I know at one point, Bitcoin was the only one and the coins that came after were considered alts. But now, ETH, BNB, MATIC, etc…
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