Category: Cryptocurrency News

Ethereum is slowly moving lower below $1,300 against the US Dollar. ETH remains at a risk of major decline if it stays below $1,400 for a long time. Ethereum started a fresh decline after it failed to clear the $1,350 resistance. The price is now trading below $1,320 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if it breaks the $1,265 support zone. Ethereum Price Grinds Lower Ethereum attempted a fresh increase above the $1,350 level, similar to bitcoin price. ETH struggled to gain pace for a move above the $1,350 level. The price traded as high as $1,340 and started a fresh decline. There was a move below the $1,320 support zone. Besides, there was a break below a key bullish trend line with support near $1,320 on the hourly chart of ETH/USD. The pair even declined below the 50% Fib retracement level of the upward move from the $1,262 swing low to $1,340 high. Ether price is now trading below $1,320 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,290 level and a connecting bearish trend line on the same chart. Source: ETHUSD on TradingView.com The first major resistance is near the $1,300 level and the 100 hourly simple moving average. A clear upside break above the $1,300 resistance zone could open the doors for a move towards the $1,320 level. The main resistance is still near the $1,350 level, above which ether price might accelerate higher. Downside Break in ETH? If ethereum fails to climb above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,265 level. The next major support is near the $1,240 level or the 1.236 Fib extension level of the upward move from the $1,262 swing low to $1,340 high. A downside break below the $1,240 zone might start a fresh decline to $1,220. Any more losses may perhaps open the gates for a move towards the $1,200 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,265 Major Resistance Level – $1,300

Ethereum price has been rejected again at the $1,299 price mark as the coin retraced on its chart over the past day. In the last 24 hours, ETH barely experienced price movement on its chart. Continued lateral trading will push Ethereum price to the $1,200 support level. Bitcoin also remained mundane over the last 24 hours, and most altcoins have acted the same way. The technical outlook of Ethereum signalled that the bulls are not in control of the market. It was due to constant rejection at the $1,300 price mark. Lack of demand will cause Ethereum to oscillate between the $1,260 and $1,360 price levels, respectively. In case the price momentum doesn’t pick up in the next trading sessions, ETH could even travel below the $1,200 support line. For the bearish pressure to fade, ETH has to manage to break past the $1,360 mark. It has to trade above the aforementioned level for some time. The global cryptocurrency market cap today is $962 billion, with a 0.3% negative change in the last 24 hours. Ethereum Price Analysis: One-Day Chart ETH was trading at $1,290 at the time of writing. The altcoin could not push past the $1,300 resistance mark as sellers took over. Immediate resistance was at $1,300, suggesting that it could meet the $1,360 price ceiling. A move above the $1,360 level will make the bulls come back on Ethereum’s chart. On the other hand, the local support for the altcoin was at $1,268. If the demand for the coin doesn’t come back over the next trading sessions, Ethereum is moving south. A break below the $1,268 level will make the coin trade at $1,200 and then at $1,160. The amount of Ethereum traded in the past session fell, indicating bearishness and an increase in selling pressure. Technical Analysis For most of this month, the altcoin has experienced low buying strength on its chart. The reason why it has been consolidating over the last few weeks. Demand continues to remain low for Ethereum. The Relative Strength Index was below the half-line, which meant that buyers were leaving the market. Additionally, the indicator also pictured a fresh decline in buying strength as it noted a downtick. Ethereum price was below the 20-SMA line, and that indicated less demand. It also meant that sellers were driving the price momentum in the market. Related Reading: FTX Sends 50,000 Ethereum To Voyager, FTX Token Witnesses Pump And Dump Technical indicators showed that the bears were in control. However, Ethereum price also portrayed buy signal on its chart. The Moving Average Convergence Divergence indicated price momentum and direction. MACD continued to display green histograms as buy signal for the coin, this could mean that if buyers acted on it, the coin could log gains. The Chaikin Money Flow measures the amount of capital inflows over capital outflows. The CMF was still positive as the indicator was above the half-line. However, there was a downtick indicating that over the next trading sessions the indicator would turn negative. Related Reading: Why The Bitcoin Price Might Stay At $19,000 Until November Featured Image From UnSplash, Charts From TradingView

A crypto bill that industry advocates previously said would “kill DeFi” has seen an updated draft released online with one commentator saying the U.S. is “finally getting their act together.”

As promised, here are some stats and charts from the database of first-gen Reddit avatar financial performance I posted yesterday (you can find the database, stats, charts, and source file for stats and charts here). After a lot of messing around with different summaries and groupings, I found that grouping the data by the rarity…
Read more

The BitBTC bridge reportedly had a bug that would essentially allow an attacker to mint fake tokens on one side of the bridge, and swap them for real ones on the other.

submitted by /u/unphuckable [link] [comments]

A retail investor group is trying to track down Terraform Labs co-founder Do Kwon following the crash of the Terra ecosystems’ cryptocurrencies.

submitted by /u/brbinsky [link] [comments]

This is absolutely huge news but no one is talking about it. ​ For the first time, an EU supervisory authority grants a payments institution licence to a company where blockchain rails are used to move funds. The company, Ztlment, developed smart contract software to move euros peer-to-peer on blockchain in full PSD2 compliance. With…
Read more

The CEO of global investment bank Goldman Sachs, David Solomon, sees a good chance of a U.S. recession. He stressed that the “environment heading into 2023 is one that you’ve got to be cautious and prepared for.” Goldman Sachs CEO Warns About U.S. Recession, Advises Investors to Be Cautious Goldman Sachs CEO David Solomon warned […]