Category: Cryptocurrency News

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TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers. Ethereum started an upside correction above the $1,100 resistance zone. The price is now trading below $1,150 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH/USD (data feed via Kraken). The pair could revisit the key $1,050 and $1,040 support levels in the near term. Ethereum Price Corrects Lower Ethereum was able to climb above the $1,050 resistance zone. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average. Finally, the price surpassed the $1,150 resistance and traded close to the $1,200 level. A high was formed near $1,192 before the bears appeared. Ether price failed to continue higher and traded below the $1,150 level. There was a break below the 23.6% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Besides, there was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH/USD. Ether price is now trading below $1,150 and the 100 hourly simple moving average. An immediate resistance is near the $1,120 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps push the price towards $1,200. Source: ETHUSD on TradingView.com The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term. More Losses in ETH? If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,060 zone. The next major support is near the $1,050 zone. It is near the 50% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Any more losses might call for a move towards the $1,000 support zone. 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 – $1,050 Major Resistance Level – $1,150

Bitfarms Sells 3,000 BTC to Help With Liquidity Amid Market Downturn

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Fed to lift rates by 75 basis points in July, 50 bps in September – Reuters poll

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Crypto influencers allegedly weaponize conspiracies to fleece QAnon followers

Mixing conspiracy theories, a distrust for traditional institutions and hopium in crypto, two influencers are alleged to have made millions using pump-and-dump schemes.

USDC’s ‘real volume’ flips Tether on Ethereum as total supply hits 55.9B

At least on the Ethereum network, USDC real volume has nearly doubled that of USDT in the past 24 hours which could be another sign that the top stablecoin’s dominance is coming to an end.

How a Solend Whale With a $108M Loan Nearly Crashed the Solana Network

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Blockchain to replace SWIFT? In order to completely circumvent the American dominated SWIFT money transfer system, Russia just announced it will create its own blockchain based system.

The new Russian system will be used for international trade settlement for imports and exports. China, India, Southeast Asia, Africa, and Latin America are expected to embrace the new system. US and EU sanctions on Russia have apparently spurred Russia to create the world's first blockchain money transfer system for banks. https://news.bitcoin.com/russias-industrial-giant-rostec-announces-blockchain-based-alternative-to-swift/ submitted by…
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Are blockchains decentralized?

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Edward Snowden on the crypto crash: ‘When the ground has cleared, things will grow again’

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EIP: NFT Future Rewards (nFR) Standard

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