Category: Cryptocurrency News

Ethereum price tried to rise on its daily chart at the time of writing. Over the last 24 hours, ETH rose by 2%, price action continues to be mundane. In the last week, the Ethereum price fell by 21%. Technical indicators pointed towards continued bearishness. Buying strength declined substantially, which has pushed the price of Ethereum closer to its immediate support line. If buyers do not defend the closest support line, then Ethereum could head for a further decline on its one day chart. For the bearish thesis to be invalidated, ETH has to hop past several resistances. Selling dominance can further push the altcoin down. With the price of major market mover Bitcoin declining on its respective chart, most altcoins have followed suit. ETH has to move past the $2000 price level for the bearish thesis to be invalidated. ETH bulls are required to defend $1,200 price zone or else ETH could free fall to the $1,000 price level. Ethereum Price Analysis: One Day Chart ETH was trading for $1,360 at the time of writing. Ever since Ethereum touched the $1,800 price mark, the bulls could not sustain themselves and caused the asset to tumble further. The closest support line for the coin stood at $1,200. It is crucial for demand to shoot up for buyers to hold onto the $1,200 price mark because a fall from that level could make ETH touch $1,000. Resistance for the altcoin was at $1,560, moving past which there could be a ceiling at the $1,800 price level. If ETH manages to break past $2,000, then the bearish thesis could be invalidated. The amount of Ethereum traded in the last session depreciated, signalling an increase in selling pressure. Technical Analysis ETH continued to slip south owing to a lack of demand at the time of writing. Indicators have also depicted bearishness on the chart. The Relative Strength Index was pictured below the half-line, and that meant excess selling pressure compared to buying strength in the market. That was a sign of less demand for Ethereum at the time of writing. The Ethereum price was seen below the 20-SMA as demand fell for the coin. It meant that sellers were driving the price momentum in the market. Related Reading: ETH Backpedals After Hitting $1,800 Ahead Of Merge Last Week The altcoin had displayed a sell signal at press time, indicating that there could be further bearishness. The Moving Average Convergence Divergence displays the price direction and the market momentum.The MACD underwent a bearish crossover, which led to the formation of red signal bars, signifying sell signal for ETH. Bollinger Bands that indicate price volatility and fluctuation also pointed towards an incoming price change as the bands widened at press time. Related Reading: Ethereum Proof Of Work (ETHW) Gains 30%, Is More Upside Coming? Featured image from Pixabay, Chart: TradingView.com

The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF by May,” a government official said. India Finalizing […]

Despite a strong emphasis on “social status” in India, holding a Bored Ape Yacht Club NFT there isn’t impressing anyone.

Bitcoin started an upside correction above $19,000 against the US Dollar. BTC is now facing a strong resistance near the $19,350 and $19,500 levels. Bitcoin is attempting an upside correction above the $19,000 level. The price is still trading below $19,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the trend line and the 100 hourly SMA to continue higher towards $20,500. Bitcoin Price Faces Hurdles Bitcoin price started a short-term upside correction from the $18,223 low. BTC was able to climb above the $18,800 and $19,000 levels. It even cleared the $19,350 resistance zone. However, the price faced a strong resistance near the $19,650 level and the 100 hourly simple moving average. A high was formed near $19,678 and the price started a fresh decline. There was a move below the $19,500 and $19,400 levels. Bitcoin price traded below the 50% Fib retracement level of the upward move from the $18,223 swing low to $19,678 high. The bulls are now protecting the $18,800 support zone. The 61.8% Fib retracement level of the upward move from the $18,223 swing low to $19,678 high is acting as a support. On the upside, an immediate resistance is near the $19,200 level. The next major resistance sits near the $19,350 level. Source: BTCUSD on TradingView.com There is also a major bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC/USD pair. A clear move above the trend line, the 100 hourly simple moving average, and $19,500 could open the doors for a move towards the $20,000 level. Any more gains might send the price towards the $20,500 resistance zone. Fresh Decline in BTC? If bitcoin fails to continue higher above the $19,350 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $18,800 zone. The next major support is near the $18,550 level. A clear move below the $18,550 zone could set the pace for a larger decline. In the stated case, the price may even decline below the $18,223 swing low. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $18,800, followed by $18,550. Major Resistance Levels – $19,200, $19,350 and $19,500.

With Voyager's collapse and the subsequent legal proceedings we got access to lots of interesting information. They lent Alameda (FTX ventures) quite a bit of Bitcoin from March to June this year. https://cases.stretto.com/public/x193/11753/PLEADINGS/1175309202280000000002.pdf So, how did that turn out? Alameda does it again They probably shorted the shit of the borrowed BTC – nothing controversial…
Read more

Buterin believes collusion and corruption can be minimized when deciding power is in the hands of the entire group, rather than an individual or small minority.

It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.

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

Now that we have two ETH networks I was wondering if it would be possible to replay transactions from one network onto the other? Is there protection from this built in? ​ EDIT: ETH and ETHW have different chain IDs. That provides replay protection doesn't it? submitted by /u/BarrySix [link] [comments]

submitted by /u/OwnSession9 [link] [comments]