Built to fall? As the CBDC sun rises, stablecoins may catch a shadow
Will central banks allow stablecoins to survive? Maybe as a financial instrument for the unbanked or they will be able to peacefully co-exist?
Will central banks allow stablecoins to survive? Maybe as a financial instrument for the unbanked or they will be able to peacefully co-exist?
The price of Ethereum (ETH) showed so much strength but has been hit with resistance against Tether (USDT) as the Ethereum merge is announced. Ethereum price rallied with so much strength from a region of $1,670 to $1,924, as bulls anticipate the Ethereum merge from proof-of-work (POW) to proof-of-stake (POS). Related Reading: Will Ethereum Breach $2,000 Before The Merge? Ethereum merge is an upgrade on the Ethereum network from POW to POS so as to increase its network efficiency in transactions. (Data feeds from Binance) Ethereum Price Analysis On The Weekly Chart From the chart, the price of ETH saw a weekly low of around $900, which bounced from that area and rallied to a price of $1,920, this is an over 100% rise in price. The price has built more momentum as it faces resistance at $1,920. If the price of ETH on the weekly chart continues with this bullish structure, it could quickly revisit $1,900 and trend higher to $2,400. Weekly resistance for the price of ETH – $1,920. Weekly support for the price of ETH – $1,012. Price Analysis Of ETH On The Daily (1D) Chart The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart. ETH bounced from its support and rallied as it faces resistance to break above a ranging channel and has continued to move in range. With bulls placing more buy bids this channel was broken pushing ETH price to $1,920. At the point of writing, the price of ETH is at $1,888, above the 50 Exponential Moving Average (EMA) with a price of $1,580. ETH is faced with a price rejection from the $1,920 region, as this has proven to be a resistance preventing the price to trend higher. If ETH price breaks this resistance of $1,920 successfully we could see the price trending higher ahead of the merge. If the ETH price gets rejected, $1,580 which corresponds with 50 EMA will be good support for buys. The Relative Strength Index (RSI) for the price of ETH on the daily chart is above 65, indicating healthy buy bids for ETH. The volume for ETH indicates buy bids, this shows bulls would want to push the price higher. Daily (1D) resistance for ETH price – $1,920. Daily (1D) support for ETH price – $1,580. Price Analysis OF ETH On The Four-Hourly (4H) Chart The price of ETH has continued to maintain its bullish structure despite facing resistance at $1,920 trying to break out and trend higher. ETH is trading above the 50 and 200 EMA with prices of $1,760 and $1,580 acting as its support on the 4H chart, as the price faces resistance at $1,920. If the price of ETH breaks above the resistance with the good volume we could see the price trending to $$2,400, In case ETH is unable to break and experience a sell-off, 50 and 200 EMA prices would act as support for ETH prices. Four-Hourly (4H) resistance for ETH price – $1,920. Four-Hourly (4H) support for ETH price – $1,760, $1,580. Related Reading: Cosmos Hub Soars Over 5% Within 24 Hours – ATOM Up 13% In Last Week Featured image from Watcher Guru, Charts from TradingView.com
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AAVE shows that the price is steadily rising as the coin’s bullish streak makes noise in the market. AAVE price is raging bullish today with its steady climb to $109 resistance level The coin faces hurdle at $113.50 AAVE/USD pair support is spotted at $97.91 The AAVE/USD price saw a boost of 12.02% compared to the figures yesterday as the market spikes to $109.99 from yesterday’s $105. Related Reading: Cosmos Hub Soars Over 5% Within 24 Hours – ATOM Up 13% In Last Week AAVE Resistance Spotted At $113.50 According to CoinMarketCap, AAVE has plunged by 0.18% as it trades at $109.87 as of this writing. The token’s price faces resistance at $113.50 with the bulls trying to breach the target level. On the flip side, the market has spotted some support at $97.91 as the bulls were able to restore the token’s price up after it dropped below this range. AAVE is currently trading right above the $109 zone, as the bulls managed to push the price up. The 24-hour TVL for the coin sits at $508 million with a current market cap of $1.53 billion. AAVE’s daily chart shows a dramatic and robust upswing seen in the past 24 hours. In fact, the market was able to reach a high of $113.50 before it faced some gigantic selling pressure that caused the price to plunge. However, the bulls were able to push the price shooting above the $97.91 market, and it now trades near its ATH of $109.99. AAVE Tries To Retest Above Resistance The market is largely optimistic and is set to skyrocket in the near term as the bulls are able to push the price up. MACD looks extremely bullish with it line overshooting the signal like. RSI also shows its bullish steak as it trades at 62.50. With the bulls pushing the price up after every dip, AAVE price shows that the market is swerving for an uptrend. It’s all looking positive for Aave with the coin trading within the range of $109.99 to $113.50, with the bulls not able to move past $113.50. Currently, the market has locked in some strong foothold at $97.91, which acts as support line. AAVE price is looking positive with bulls pushing the price higher despite the massive selling pressure. More so, the market is hoping to retest at the key resistance of $113.50 but the bulls will have to regroup to enable a breach above that level. Related Reading: Polygon Maintains Solid Footing As MATIC Balloons By 300% Since June AAVE total market cap at $1.5 billion on the daily chart | Source: TradingView.com Featured image from Yahoo Finance, Chart from TradingView.com
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According to a statement from the Dutch Fiscal Information and Investigation Service (FIOD), law enforcement officials in Amsterdam arrested an unnamed 29-year-old suspected of developing the ethereum mixing application Tornado Cash. FIOD accuses the suspect of “concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies.” Netherlands Law Enforcement Takes Suspected Tornado […]
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TLDR: I believe selling game licenses as NFT's would catapult gaming ownership into the modern day instead of being stuck in this intermediary period of not actually owning anything and still paying for it. So I used to work customer service for PlayStation and goddamn can I say they're policies are fucking awful. So much…
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Excellent work! You Moon-farming degenerates were responsible for over 90% of activity on the Arbitrum Nova network since its launch 3 days ago. Here are some data from the L2 network since launch. Account and Transfer activity The top 2 tokens with the most accounts are overwhelmingly Moons and Bricks (~250K accounts). You were responsible…
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People the Bear is still here! Just went on a lunch break. It’s still here and it’s big. I understand we are all actively seeing all latest developments thanks to this community and there is a lot of speculation around, a lot of different signs that point in different directions and so so so many…
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