Category: Cryptocurrency News

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The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year. The majority of complaints the ad council received are directed at influencers. “Some influencers talk so confidently about crypto without fully understanding it.” 419 Ads in Violation — Most Complaints Concern Influencers […]

Marathon’s CEO Fred Thiel said that it will take time to get the facility back to full strength, but that the company could decide to speed up its move out of Hardin.

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Solana has fallen on its chart over the last 24 hours by 2%. Over the last 24 hours, there has been strong bearish influence on SOL’s price. Currently the coin has found support on the $34 level. The market also has been taken over by the bears, Bitcoin has been hovering around the $20,000 mark for the last 24 hours. Other market movers have also retraced in their respective charts. Technical outlook of the coin continues to point towards negative price action suggesting that price of Solana can fall further. Selling pressure in the market has started to mount indicating that price of SOL could again take a dip. The global cryptocurrency market cap today is $977 Billion with a fall of 0.2% over the last 24 hours. Since, Solana has now fallen beneath the $40 mark, SOL could now be prone to further fall. Solana Price Analysis: One Day Chart SOL was trading at $36 on the 24 hour chart. Further retrace from the current price level will push the coin to $34. Overhead resistance for the coin stood at $38, if buying strength returns then SOL could attempt to revisit the $38 price level. If SOL manages to remain above the $38 mark for a substantial amount of time then $44 could be possible on the chart. If Solana fails to hold itself near its $34 support line, it could drag itself down to $26 in just a matter of sometime. The amount of the altcoin traded was in the red indicating bearishness and increased selling pressure. Technical Analysis Technical outlook on the 24 hour chart for Solana has signalled at price falling further. As mentioned above, buyers fell in number. The Relative Strength Index noted a decline and sunk below the half-line indicating that sellers outnumbered buyers in the market. In accordance with rising selling pressure, Chaikin Money Flow also moved towards the zero-line. The indicator represents amount of capital inflows and outflows. This reading meant that capital inflows depreciated. At the current price, Solana could witness demand from buyers if price remains at the same level. Although the bears have gained control, SOL has been flashing buy signal on the one day chart. The Directional Movement Index (DMI) was negative which meant that the price direction shall remain bearish. On the DMI, the -DI line was above the +DI line. Moving Average Convergence Divergence (MACD) depicts price trends and reversals. MACD flashed green histograms which are tied to a buy signal. For SOL to reclaim $44, strength from buyers shall prove to be crucial. Featured image from Solana.com, chart from TradingView.com

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he’s waiting for the price of bitcoin to test $1,100. He added that he will buy more if the cryptocurrency recovers from that price level. Robert Kiyosaki on Bitcoin Testing $1,100 The author of Rich Dad Poor Dad, Robert Kiyosaki, has […]

Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset. Through the decline, it has been one of the worst-hit coins, performing poorly compared to the other cryptocurrencies at this time. However, the digital asset has now closed its first weekly green candle in three months and things are looking up. Better Days Ahead With this recovery has come a renewed interest in the digital asset. Coupled with the fact that the digital asset is now trading above its 50-day moving average, it has now solidified a bull trend for the short term. The activity on the network, though reduced, remains high enough to strike renewed faith in the heart of investors.  Related Reading | Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000 However, there are still things that threaten the price of the cryptocurrency going on another bull rally. The Celsius debacle had been one of the major reasons behind the drawdown below $1,000 and remains a very real threat. The lending protocol which has found itself in a tight spot due to some bad trades remains at risk of being liquidated, and rumors continue to circulate that Celsius is planning to file for bankruptcy, which would mean users would not be able to get their tokens back. ETH price sees first green weekly close after three months | Source: ETHUSD on TradingView.com Additionally, Three Arrows Capital’s insolvency had hit the market hard but there is still more to come. This is because it is the leading crypto fund and as such had its hand in a large number of projects in the space, especially DeFi, the majority of which would be significantly affected by the 3AC insolvency. Ethereum To $1,500 Presently, the price of the digital asset is still trailing $1,200 but there are some things rumored in the market that will likely promote a pump in price. One of these is FTX’s supposed acquisition of the trading platform, Robinhood. Now, Robinhood is one of the most popular platforms when it comes to trading crypto. However, it has drawn the ire of the community in the past due to its practices. As such, if it were to be acquired by FTX, a trusted crypto exchange, it would mean that FTX would be bringing Robinhood’s massive user base of more than 22 million to the broader crypto community. Related Reading | Ethereum Fees Touch Monthly Lows As Transaction Volumes Plummet There is nothing definite regarding the acquisition yet but the sentiment among investors regarding it has been good so far. A rally resulting from such an acquisition could easily see Ethereum grow more than 20% and that would put the digital asset above the $1,500 level once more. ETH is trading at $1,221 at the time of this wring. It remains the second-largest cryptocurrency in the space with a market cap of $148 billion. Featured image from CoinMarketCap, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…