Low CPI print is fodder for Bitcoin to retest all-time highs — Grayscale research head
Bitcoin’s response to the CPI report was surprisingly muted.
Bitcoin’s response to the CPI report was surprisingly muted.
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Exodus Movement, Inc. has announced a new partnership with Blockchain.com to integrate Passkeys Wallet with Blockchain.com’s fiat on-ramp services. The integration aims to streamline the process of creating and funding cryptocurrency wallets, potentially expanding access to digital assets. Exodus and Blockchain.com Collaborate to Streamline Global Crypto Access Exodus’ Passkeys Wallet now allows users to purchase […]
Maker (MKR) is currently demonstrating bullish moves with a 7% upswing, positioning it for a critical resistance test at $2,662. This surge reflects growing optimistic sentiment as key technical indicators suggest that the cryptocurrency could be on the verge of a significant breakout. As the market turns green, expectations are that the price of Maker maintain this momentum and push through the $2,662 resistance level, potentially setting the stage for further gains. This article tends to offer a clear understanding of Maker’s potential price trajectory by analyzing the recent price movement, exploring technical indicators, and assessing the significance of the $2,662 resistance level. In the past 24 hours, Maker has gone up by 7.01%, reaching around $2,133, with a market capitalization of over $1.9 billion and a trading volume exceeding $114 million at the time of writing. Maker’s market cap has increased by 7.14%, while its trading volume has surged by 66.30%. Understanding The 7% Surge: What’s Driving Maker’s Momentum? Currently, the price of Maker on the 1-hour chart is bullish and is approaching the 100-day Simple Moving Average (SMA) and the $2,662 mark. The digital asset has been on an upward spiral since it failed to break below the key level of $1,731, which indicates that the bulls are gaining control of the market and could drive the price higher. Additionally, an analysis of the 1-hour Relative Strength Index (RSI) shows that the signal line of the indicator has successfully risen above 50% toward 70%, suggesting that buying pressure greatly increases and the asset might experience further upward movement. On the 4-hour, although Maker is still trading below the 100-day SMA, it can be observed that the crypto asset is attempting a bullish move toward the 100-day SMA, printing two bullish momentum candlesticks. After the rebound at $1,731, Maker has shown bullish resilience, keeping its pace above this level. With this recent bullish sentiment, the digital asset could extend its rally toward the $2,662 resistance level. Finally, on the 4-hour chart, the RSI indicator also indicates a rising bullish momentum for the cryptocurrency as the RSI signal line has moved out of the overbought zone and is currently heading toward the 50% level. Breaking Through $2,662: What It Could Mean For The Future Of Maker If the bulls can sustain their strength in the market, the price of Maker will continue to move upward toward the $2,662 resistance level. Should the price break and close above the $2,662 level, it may continue to rally toward the next resistance point at $3,222 and possibly other levels. However, if Maker reverses direction at the $2,662 resistance level, it would begin to drop toward the direction of its previous support range at $1,731. When the price breaches this support range, it could signal a deeper bearish trend, leading to further price declines towards other lower levels. Featured image from Adobe Stock, chart from Tradingview.com
This new token standard, launched by the pseudonymous “ctrl” and “Acme,” is like ERC-20 and ERC-721 had a blockchain baby. It lets you fractionalize NFTs, blending the worlds of fungibility and nonfungibility. So now, instead of just holding one-of-a-kind digital art, you can own and trade tiny slices of it. Think of it as a…
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Jeremy Allaire discussed his impressions of Harris campaign representatives on crypto after attending a video call with industry leaders, White House officials, and US lawmakers.
I’m a bit lost on how much the word “utility” gets thrown around these days that it’s starting lose it’s meaning. It sometimes is being used as the pinnacle of every memecoin project and was used a lot for the nft bubble in 2022. Every coin and or nft had to have utility. But then…
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Metamask has teamed up with Mastercard and Baanx to launch a debit card that lets users spend their crypto assets directly from their self-custody wallets. Consensys, the firm behind the project, views this new card as a pivotal step in weaving digital currencies into everyday life. Mastercard and Metamask Team Up to Launch Crypto Debit […]
AI may already consume more power than Bitcoin mining, and its deep pockets mean miners face stiff competition for equipment and electricity.
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