Fed’s Waller says banks, non-banks should be allowed to issue stablecoins
Federal Reserve Governor Christopher Waller also expressed confidence in the private sector to develop stablecoin solutions.
Federal Reserve Governor Christopher Waller also expressed confidence in the private sector to develop stablecoin solutions.
North Carolina is set to modernize its investment strategy with a bill allowing the State Treasurer to allocate funds to digital asset products, signaling a shift toward blockchain-based finance. North Carolina Considers Crypto Investments for State Funds in New Bill North Carolina Speaker of the House Destin Hall and Representatives Stephen Ross, Mark Brody, and […]
Ethereum price is moving higher above the $2,600 zone. ETH might gain bullish momentum if it clears the $2,800 resistance zone. Ethereum started a fresh increase above the $2,650 resistance level. The price is trading above $2,680 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it settles above $2,780 and $2,800. Ethereum Price Eyes More Gains Ethereum price remained supported above the $2,500 level, like Bitcoin. ETH formed a base and recently started a fresh increase above the $2,600 and $2,620 resistance levels. There was a break above a key bearish trend line with resistance at $2,680 on the hourly chart of ETH/USD. The bulls pumped the pair above the $2,700 level. It traded as high as $2,794 before there was a minor pullback. The price dipped below the $2,750 level. There was a move below the 23.6% Fib retracement level of the upward wave from the $2,550 swing low to the $2,794 high. Ethereum price is now trading above $2,680 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,750 level. The first major resistance is near the $2,780 level. The main resistance is now forming near $2,800 or $2,820. A clear move above the $2,820 resistance might send the price toward the $2,920 resistance. An upside break above the $2,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,050 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,780 resistance, it could start another decline. Initial support on the downside is near the $2,675 level or the 50% Fib retracement level of the upward wave from the $2,550 swing low to the $2,794 high. The first major support sits near the $2,640 zone. A clear move below the $2,640 support might push the price toward the $2,600 support. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,675 Major Resistance Level – $2,780
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Despite a significant jump in quarterly revenue, Coincheck Group still reported a net loss of $98.1 million.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $98,500 zone. Bitcoin Price Eyes Fresh Increase Bitcoin price extended losses below the $95,000 support level. BTC tested the $94,200 zone. A low was formed at $94,111 and the price recently started a fresh increase within a range. There was a move above the $95,000 and $96,000 levels. The price cleared the 50% Fib retracement level of the downward move from the $98,440 swing high to the $94,111 low. There was a break above a connecting bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average. It is also above the 61.8% Fib retracement level of the downward move from the $98,440 swing high to the $94,111 low. On the upside, immediate resistance is near the $98,000 level. The first key resistance is near the $98,500 level. The next key resistance could be $99,500. A close above the $99,500 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $100,500 level or even $102,000. Another Decline In BTC? If Bitcoin fails to rise above the $98,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $97,200 level. The first major support is near the $96,750 level. The next support is now near the $96,200 zone. Any more losses might send the price toward the $95,000 support in the near term. The main support sits at $94,200. 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 – $96,200, followed by $95,000. Major Resistance Levels – $98,000 and $98,500.
Crypto analyst CryptoCon has reaffirmed that a Bitcoin price rally to the $166,000 target is still in play. The analyst further revealed what needs to happen for the flagship crypto to reach this ambitious price target. What Determines The Bitcoin Price Rally To $166,000 In an X post, CryptoCon stated that the Bitcoin price simply needs to mirror its last year’s move in order to reach the next rung on this hyper-accurate extension in March. His accompanying chart showed that the next rung is at the $166,000 price level. Meanwhile, Bitcoin recorded a significant price rally between January 2024 and March 2024, a historical move CryptoCon believes the flagship crypto needs to mirror to reach this target. Related Reading: Bitcoin Price Crash Not The End Of The Road As Analyst Shares Roadmap To $200,000 The analyst remarked that it might seem ridiculous, but he asserted that a run to this $166,000 target next month is not far-fetched. A few days ago, CryptoCoon predicted that the Bitcoin price could rally to $160,000 in the next thirty days, meaning it could hit this target by next month. These predictions undoubtedly provide some optimism, especially considering the downward pressure that the flagship crypto is currently facing. Meanwhile, CryptoCon also suggested that there was the possibility of the Bitcoin rally to $166,000 taking longer. However, he added that the cycle isn’t over, and this price target isn’t going anywhere, indicating that BTC will reach it in this bull market. Market experts like research firm Matrixport have also predicted that Bitcoin could rally to $160,000 this year. Meanwhile, asset manager Bitwise predicted that the Bitcoin price would rally to $200,000 this year. Standard Chartered also asserted that BTC reaching around $200,000 by year-end is achievable. State Of Things For BTC Crypto analyst CrediBULL Crypto provided some insights into the current Bitcoin price action. In an X post, he stated that BTC is still holding the higher timeframe support zone at $94,553. As long as BTC continues to hold this support zone, he expects some further consolidation around this area. Related Reading: Bitcoin 4th Wave Ends With Price Crash To $91,000, 5th Wave Shows $210,000 Is Coming The crypto analyst also drew attention to a potential PO3 that was forming for the Bitcoin price at these levels. He remarked that he would like to see a move below the lows at $94,100 and then reclaim and push to local supply right above the last local highs. Crypto analyst Ali Martinez also confirmed that the Bitcoin price is in a consolidation phase. He revealed that BTC’s accumulation trend score is zero, which signals a period of consolidation. The crypto analyst added that a shift in demand here could set the stage for the next big move. At the time of writing, the Bitcoin price is trading at around $95,800, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
Lawmakers in 20 U.S. states are pushing bitcoin reserve bills that could inject $23 billion (247K BTC) into the market, according to Vaneck’s head of digital assets research, who calls the estimate conservative. 20 State Bitcoin Bills Could Unleash a $23 Billion Buying Wave—247K BTC at Stake Lawmakers across 20 U.S. states have introduced bills […]
The Wyoming Highway Patrol Association has adopted the Proof of Workforce’s “Get Off Zero” initiative and is reportedly exploring adding Bitcoin to its balance sheet.
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