E-commerce giant Ebay has filed two trademark applications covering a wide range of products and services relating to the metaverse and non-fungible tokens (NFTs). Ebay’s NFT, Metaverse Trademark Applications Ebay Inc. (Nasdaq: EBAY) filed two trademark applications with the United States Patent and Trademark Office (USPTO) last week covering a wide range of products and […]
Bitcoin is struggling below the $20,000 zone against the US Dollar. BTC remains at a risk of more losses if the bulls fail to protect the $19,800 support zone. Bitcoin is showing bearish signs below the $21,000 and $20,500 levels. The price is now trading below the $20,400 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $19,800 zone. Bitcoin Price Remains At Risk Bitcoin price failed to recover above the $21,000 pivot level. The price remained in a bearish zone and extended its decline below the $20,500 support zone. There was also a close below the $20,250 level. BTC spiked below the $20,000 level, but the bulls were active near $19,800 level. A low is formed near $19,828 and the price is now consolidating losses. It is now trading below the $20,400 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $20,150 level. It is near the 23.6% Fib retracement level of the recent decline from the $21,188 swing high to $19,828 low. The next key resistance is near the $20,400 zone. There is also a key bearish trend line forming with resistance near $20,400 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $21,188 swing high to $19,828 low. Source: BTCUSD on TradingView.com A clear move above the trend line resistance and then $20,500 could start a recovery wave. In the stated case, the price could rise towards the $20,900 level. The next major hurdle for the bulls might be near the $21,200 zone, above which the price may perhaps rise towards the $21,800 level. More Losses in BTC? If bitcoin fails to clear the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 level. The main support now sits near the $19,800 level, below which the price could accelerate lower. The next major support sits near the $18,800 zone. Any more losses could send the price towards the $18,000 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $20,000, followed by $19,800. Major Resistance Levels – $20,150, $20,400 and $20,500.
An NFT trader pulled off a supposed tax write-off “masterclass” by booking a 74.2 ETH profit at a $52,000 loss, and print-on-demand firm Pixels.com has rolled out NFT merch support.
I am a beginner and really want to get into trading cryptocurrencies and sometime later, stocks. I'm 18 and just got my state ID and have about $300 dollars to my name at the moment. I use Trading View with Hull Suite and Super Trend indicators on using the 5 minute chart. I don't necessarily…
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From July 3 the four-week window for application developers and exchanges to test the upcoming Cardano upgrade begins before it’s launched onto the mainnet.
Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, is now offering cryptocurrency trading to all of its 54 million customers. Nubank also holds bitcoin on its balance sheet. Nubank’s Crypto Service Now Available to All Customers Nubank, one of the world’s largest digital banking platforms, now offers cryptocurrency trading to all clients, […]
A similar decision was also made on Wednesday regarding Bitwise’s Bitcoin exchange-traded product (ETP) citing the same reasons.
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Ethereum continued on a bearish path as the coin has now found support level at $1,100. Over the last two days the coin surged and touched the $1,200 mark but shortly after that, it witnessed a pullback on the chart. Ethereum’s strong resistance currently stood at $1,300. The technical perspective of the coin has also remained bearish. Over the last 24 hours, ETH lost 9% of its value and invalidated most gains it secured in the past one week. After the bulls could not manage to move past the $1,300 price ceiling, the coin has slipped down. ETH has depicted a consolidated price range with price of the asset sandwiched between $1,280 and $1,110, respectively. If Ethereum doesn’t rise and break past the $1,300, price could dip and fall below the $1,000 mark. Buying strength also faded as price of the coin kept falling on the chart. The global cryptocurrency market cap today is at $937 Billion with a fall of 5.5% in the last 24 hours. Ethereum Price Analysis: One Day Chart ETH was trading for $1,111 at the time of writing. Immediate support for the coin stood at $1,000, but if ETH starts to fall then the coin can trade at the $900 price level. Immediate overhead resistance stood at $1,200 and then at $1,300. The last time the altcoin hovered around this price region was in the month of January 2021. If Ethereum falls to $900, it would mark a new low for the coin in the year 2022. If price of the altcoin manages to jump to $1,300 and trades above that level for significantly long, then rally to $1,700 could be possible. Volume of Ethereum traded fell on the 24 hour chart which meant that buying strength decreased. The trading volume bar was red indicating bearishness. Technical Analysis ETH was oversold over the last 48 hours, but the coin recovered and moved above the oversold zone. Despite this recovery Ethereum’s buying pressure remained extremely low on the chart. The Relative Strength Index noted a downtick and was nearing the oversold mark again. Consistent downfall in demand can bring Ethereum to touch the $900 level over the next trading sessions. On the 20-SMA, the coin was seen below the 20-SMA line. A reading below the 20-SMA line means that the sellers were driving the price momentum in the market. Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met ETH noted a fall in buying strength despite that the coin flashed buy signal son the one day chart. Moving Average Convergence Divergence depicts the price momentum. It displayed a bullish crossover and flashed green signal bars which are buy signals for the coin. The current price level could potentially turn into a demand zone for the king altcoin. Chaikin Money Flow demonstrated capital inflows and outflows on the chart. CMF was below the the half-line which meant that capital inflows were lesser than capital outflows signifying bearishness. Suggested Reading | Ethereum Needs To Breach This Level To Sustain Bullish Pace Featured image UnSplash, chart from TradingView.com
BTC price briefly fell below $20,000 and traders warn that the all-important support level could eventually crumble after enduring an increasing number of retests.
