Category: Cryptocurrency News

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The Bank of Japan’s Executive Director announced that the eagerly-awaited digital yen won’t be used to attain negative interest rates.

North Dakota officials are luring in crypto mining companies to set up in the state. With $3B already invested, and with $3B said to be on the way, they’re doing well so far.

A number of cryptocurrency exchanges in India are disabling rupee deposits, particularly payments using the Unified Payments Interface (UPI) system. This followed a statement issued by the National Payments Corporation of India (NPCI) regarding the usage of the UPI system by crypto exchanges. Indian Exchanges Stop Offering Major Payment Options Options to deposit Indian rupees […]

Bitcoin’s layer 2 scaling solution, the Lightning Network, has seen payment volume increase by over 400% as real adoption grows.

The largest crypto by market cap is showing signs of a turnaround over the past 24 hours which analysts are saying could be the beginning of an upswing.

Bitcoin is correcting losses and trading above $41,000 against the US Dollar. BTC could gain bullish momentum above $41,350 and $41,500. Bitcoin remained well bid above $39,250 and started a fresh increase. The price is now trading above $41,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $40,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain pace if there is a clear move above the $41,500 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price remained well bid above the $39,250 support zone. BTC formed a base and started a fresh increase above the $40,000 resistance zone. The bulls gained strength and were able to push the price above $40,500. There was a move above the 23.6% Fib retracement level of the main drop from the $43,415 swing high from the $39,240 low. Besides, there was a break above a connecting bearish trend line with resistance near $40,000 on the hourly chart of the BTC/USD pair. The pair even broke the $41,000 resistance zone and settled above the 100 hourly simple moving average. An immediate resistance on the upside is near the $41,350 level. The 50% Fib retracement level of the main drop from the $43,415 swing high from the $39,240 low is also near the $41,350 zone. The next key resistance could be $41,500. If the bulls able to clear the $41,350 and $41,500 resistance levels, the price could accelerate higher. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps rise towards the $41,800 resistance zone. Any more gains could set the pace for a move towards the $42,500 level in the near term. Another Decline in BTC? If bitcoin fails to clear the $41,500 resistance zone, it could start another decline. An immediate support on the downside is near the $41,000 level. The next major support is seen near the $40,550 level. A downside break below the $40,550 support zone could accelerate losses. In the stated case, the price could decline towards the $40,000 level or even $39,250. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level. Major Support Levels – $41,000, followed by $40,550. Major Resistance Levels – $41,350, $41,500 and $41,800.

“It won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum,” said developer Tim Beiko.

Mastercard has filed 15 trademark applications covering a wide range of services relating to the metaverse and non-fungible tokens (NFTs). “We are continually looking for opportunities to deliver new and unique experiences to our customers and cardholders,” Mastercard said. Mastercard’s NFT, Metaverse Trademark Applications Payments giant Mastercard filed 15 trademark applications with the United States […]

Ethereum was priced at $3030 and the altcoin king noted a sharp decline of 11% in the past week. Major cryptocurrencies are all on a downtrend, after breaking past their immediate support levels. Bitcoin was priced below $40k and had declined by 12% over the past week. The global cryptocurrency market cap stood at $1.96 Trillion after a decline of 0.2% over the last 24 hours. Ethereum had witnessed a selling spree in the last week but over the last 24 hours, the coin tried to recover from the grasp of sellers, however, buying pressure is yet to resurface in the market. Recently, Ethereum developers went live with their Mainnet Shadow Fork. Ethereum Price Analysis: Four Hour Chart Ethereum was priced at $3028.86 and the coin has been hovering around the aforementioned price level over the past 48 hours. Immediate resistance for the coin stood at $3085.60 after the coin has been rejected from that level a couple of times in the past few days. Continued rejection from the resistance mark can push Ethereum to trade near the $2839.12 support level. A fall to that level would mean a 6.44% decline. In case the bulls resurface, the coin would aim for the resistance mark at $3391.95 and then at $3609.61. Trading volume was in red which signalled that buyers were less in number at the time of writing. Related Reading | The Ronin Hack Aftermatch: Axie Infinity’s $1M Bug Bounty Technical Analysis Ethereum was hovering in the oversold territory over the last 72 hours, at the time of writing the coin struggled to witness considerable buying pressure. On the Relative Strength Index, the coin was seen below the 50-mark because Ethereum was oversold and undervalued at press time. Over the last week, RSI has mostly remained below the half-line. On the 20-SMA, ETH was seen placed below the 20-SMA line and this corresponded with the reading on the RSI. ETH’s price momentum was driven by sellers according to the aforementioned indicator. Ever since ETH was on a selling spree which is roughly a week back, the coin started to display bearish price action as it flashed a bearish momentum. At the press time, ETH continued to display bearish price action and the coin had witnessed the bulls taking over for a very brief period of time which referred to a few hours. MACD at the moment was still negative as the indicator was seen below the zero-mark. This signals the strength of the bears. It is quite early to say if, over the upcoming trading sessions, ETH would pick up price momentum. MACD has displayed a bullish crossover, with tiny green histograms resurfacing, however, continued price movement in the same direction will cause the indicator to remain below the half-line. Related Reading | CeFi Platform Celsius Restricts Yield Rewards To Only Accredited Investors In U.S.