Category: Cryptocurrency News

Ethereum price is slowly moving higher above $1,600 against the US Dollar. ETH could gain bullish momentum unless there is a nasty drop below $1,550. Ethereum is showing a few positive signs for a move above the $1,650 resistance. The price is trading above $1,600 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above $1,650 and $1,670. Ethereum Price Shows Bullish Signs Ethereum’s price remained well-supported above the $1,550 level. ETH climbed higher slowly above the $1,580 and $1,600 resistance levels, like Bitcoin. There was a break above a key bearish trend line with resistance near $1,610 on the hourly chart of ETH/USD. The pair even broke the $1,620 resistance. However, the bears are still active below the $1,650 level. A high is formed near $1,638 and the price is now consolidating gains. Ether is now trading above $1,600 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high. On the upside, the price might face resistance near the $1,635 level. The next resistance is near the $1,650 level. A close above the $1,650 resistance might send the price toward the $1,670 resistance. If the price reclaims the $1,670 resistance, there could be a steady increase. Source: ETHUSD on TradingView.com The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880. Another Drop in ETH? If Ethereum fails to clear the $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,600 level and the 100-hourly Simple Moving Average. The first key support is close to $1,585 and the 50% Fib retracement level of the recent increase from the $1,530 swing low to the $1,638 high. The next key support is $1,550. A downside break below $1,550 might spark a fresh round of selling. In the stated case, the price could even decline toward the $1,500 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,600 Major Resistance Level – $1,650

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Bitcoin price is moving higher above the $26,200 resistance. BTC could gain bullish momentum if there is a daily close above the $26,500 resistance. Bitcoin is showing a few positive signs above the $26,200 level. The price is trading above $26,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally if there is a close above $26,500 and then a move above $27,000. Bitcoin Price Eyes Upside Break Bitcoin price remained well-bid above the $25,500 support zone. BTC formed a base and recently started a fresh increase above the $26,000 resistance zone. There was a sharp spike above the $26,500 resistance zone. However, there was no close above the $26,500 resistance zone. The price traded as high as $27,212 and there was a nasty bearish reaction. The price reversed its gains and traded below the $26,650 level. There was a move below the 23.6% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. Bitcoin is now trading above $26,000 and the 100 hourly Simple moving average. Besides, there is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $26,500 level. The first major resistance is near the $26,650 level. Source: BTCUSD on TradingView.com The next key resistance could be near the $27,200 level. A proper close above the $26,500 level and then a break above $27,200 might start a decent increase. The next major resistance is near $28,000, above which the bulls could gain strength. In the stated case, the price could test the $28,800 level. Fresh Drop In BTC? If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,050 level and the trend line. The next major support is near the $25,800 level or the 61.8% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. A downside break and close below the $25,800 level might send the price toward the key support at $25,550. 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 above the 50 level. Major Support Levels – $26,050, followed by $25,800. Major Resistance Levels – $26,500, $26,650, and $27,200.

Mark Karpelès was seemingly drawing parallels to Sam Bankman-Fried’s recent antics, claiming to have gotten through 20,000 pages of evidence in pre-trial detention with only a “simple calculator.”

So I just found out about arbitrage bots. Can someone provide some insight into how it works and how one could get started? I know it requires a decent size initial investment. But with fees how is this profitable? I guess all exchanges aren't timed perfectly when it comes to actual crypto value, so people…
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