Category: Cryptocurrency News

Ethereum started a downside correction from $1,665 against the US Dollar. ETH could start a fresh increase if it stays above the $1,550 support. Ethereum is correcting gains from the $1,650 and $1,665 resistance levels. The price is now trading above $1,550 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $1,550 support zone. Ethereum Price Remains Supported Ethereum remained in a positive zone above the $1,450 and $1,500 resistance levels. ETH gained pace and traded above the $1,550 resistance zone, with a close above the 100 hourly simple moving average. The price cleared the $1,600 resistance and traded to a new multi-week high at $1,664. Recently, there was a downside correction below the $1,620 and $1,600 levels. Ether price even declined below the 23.6% Fib retracement level of the upward move from the $1,485 swing low to $1,664 high. It is now trading above $1,550 and the 100 hourly simple moving average. There is also a key declining channel forming with resistance near $1,600 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $1,600 level and the channel trend line zone. The first major resistance is near the $1,650 and $1,665 levels, above which the price could gain bullish momentum. In the stated case, the price could even test the $1,700 level. Source: ETHUSD on TradingView.com A clear upside break above the $1,700 resistance zone could set the pace for a fresh increase. In the stated case, the price might rise towards the $1,720 level. Dips Supported in ETH? If ethereum fails to climb above the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,565 level and the 100 hourly simple moving average. The 50% Fib retracement level of the upward move from the $1,485 swing low to $1,664 high is also near $1,565. A downside break below the $1,550 zone might send the price towards the $1,500 support zone in the near term. 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 – $1,550 Major Resistance Level – $1,600

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Dogecoin has climbed 109% in 6 days. Why did the "Buy the rumour, sell the news" not work this time? I'll be honest. I was expecting it to go the other way. Damn was I wrong. The "Buy the rumour, sell the news" mantra is that investors will start buying up a stock or crypto…
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The Argentine Tax Authority (AFIP) is ramping up its fight against cryptocurrency-related tax evasion. On Oct. 28, the organization informed it had sent notifications to 3,997 taxpayers about incongruencies between their tax statements and reports on their cryptocurrency holdings. These statements being reviewed correspond to reports of operations happening in 2020. Argentine Tax Authority AFIP […]

The United States-based crypto industry advocacy group the Blockchain Association has said it will stand with Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the industry.

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A member of the defense team of the alleged BTC-e operator Alexander Vinnik has called on the head of the Russian Orthodox Church to intervene in support of his client. The Russian national may be sentenced to over 50 years in prison for his role in the infamous cryptocurrency exchange. Prisoner Swap for Americans in […]

Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC could start a fresh increase if it remains stable above the $20,000 support. Bitcoin is slowly moving lower from the $21,000 resistance zone. The price is trading below $20,500 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another upward move if it stays above the $20,000 support zone. Bitcoin Price Starts Downside Correction Bitcoin price made another attempt to clear the $21,000 resistance zone. However, BTC failed to gain momentum above the $21,000 resistance zone. A high was formed near $21,074 and the price started a fresh downside correction. There was a move below the $20,600 and $20,500 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high. Bitcoin price is now trading below $20,500 and the 100 hourly simple moving average. There is also a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair. The price is now holding the $20,450 support zone. It is close to the 61.8% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high. On the upside, an immediate resistance is near the $20,600 zone and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The first major resistance sits near the $20,700 level and the channel trend line. The next major resistance is still near $21,000. A clear move above the $21,000 resistance might start a steady increase towards the $22,000 resistance. Any more gains open the doors for a test of the $22,500 resistance zone. More Losses in BTC? If bitcoin fails to rise above the $20,700 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,450 zone. The next major support is near the $20,200 zone. The main support sits at $20,000. A downside break and close below $20,000 might open the doors for a substantial decline in the near term. 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 50 level. Major Support Levels – $20,200, followed by $20,000. Major Resistance Levels – $20,600, $20,700 and $21,000.