Category: Cryptocurrency News

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Ethereum price is trading at roughly $1,550 after failing to get back above $2,000 throughout the entirety of 2023 thus far. Increasingly higher lows during the year and a horizontal resistance zone had formed an ascending triangle – a potentially bullish chart pattern. This pattern, however, is possibly failing. A busted pattern target could send the price per ETH sub-$1,000. Is the bullish chart pattern breaking down? | ETHUSD on TradingView.com Ethereum Ascending Triangle Begins Breakdown: Target $700 Ethereum put in its bear market low back in June of 2022 while Bitcoin and other coins kept falling through the end of the year. Despite the early lead in a bear market recovery, ETH has underperformed against BTC in 2023. Now it is at risk of falling to a new low with a target of deep below $1,000 if a presumed bullish pattern breaks down instead of up. Related Reading: Ethereum News Catalyst Could Trigger Triangle Breakout To $4,000 ETHUSD has been trading in what appears to be a textbook ascending triangle pattern since its 2022 local low. A series of increasingly higher highs has created an upward slowing trend line. A horizontal resistance zone across $2,000 has kept price action at bay. Volume has been trending downward throughout the course of the pattern. Price is at roughly two-thirds to the triangle apex. Ether even had positive news at its back: the launch of the first Ethereum Futures ETFs. Yet it has failed to produce any meaningful upside, and is now trying to move back down causing the bullish pattern to bust. If the pattern does break downward, it would have a target of around $700 per ETH based on the measure rule. Or is the a bearish barrier triangle anyway? | ETHUSD on TradingView.com Elliott Wave Explained: Golden Fibonacci Extension Targets $300 ETH Although the ascending triangle is considered a bullish chart pattern, it only has a roughly 63% probability of breaking out, per the Encyclopedia of Chart Patterns by Thomas Bulkowski. The remaining 37% of the time break down. But technical analysis is a broad study. An ascending triangle to one trader, could be barrier triangle to another. A barrier triangle is simply an ascending or descending triangle as defined by Elliott Wave Principle. In Elliott Wave Principle, triangles are especially telling. They only appear before the final move in a sequence. Because Elliott Wave labels waves with the trend as 1 through 5, triangles are corrective and appear only in the wave 4 place – just prior to wave 5 which ends the sequence. Related Reading: Doom Signal Warns Of 50% Crypto Collapse In a bear market, corrective structures are labeled ABC. Triangles themselves can appear during a B wave, which once again, is ahead of the final move in the ABC count. C wave targets are often found by projecting the 1.618 Fibonacci ratio from the A wave. This makes the target of the busted pattern somewhere around $300 per ETH. Between the measure rule and the Fibonacci extension target, Ethereum could be facing sub-$1,000 prices in the future. Could Ether fall sub-$1000? | ETHUSD on TradingView.com Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com

So as many of you already know, Kraken has listed Moons a few months ago. With this post I want to show you something interesting I've found out about Moons Futures and will explain to you with a friendly warning of potential risks some might not be aware. I will keep the post as simple…
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Blockchian network congestion results in delayed transaction confirmations, increased costs and a slower user experience.

SBF allegedly bribes Chinese officials with $150 million to unfreeze accounts, Binance justifies blocking Hamas users, meanwhile, Huobi hacker returns all $8M in stolen assets.

Loaded up Trezor Suite for the first time in a while and saw this in my Tokens section for ETH. Really sucks that it shows up like this and I can easily see how the less tech-savvy people get scammed in the crypto space : ​ https://preview.redd.it/1vhuw5v98ztb1.png?width=1522&format=png&auto=webp&s=10f9c4f314d871a9aa2967b0e4f7545fda8f8d91 submitted by /u/DrinkMoreCodeMore [link] [comments]

Bulls pushed back and momentarily halted the increasing selling pressure impacting Cardano, Solana, and Ethereum. The altcoin market has been stabilizing over the last day, but fresh data points to potential issues in the short term. Related Reading: Standard Chartered Says Ethereum Price Can Reach $35,000, Here’s When As of this writing, Cardano (ADA) trades at $0.23 with sideways movement in the past day. Solana and Ethereum recorded similar price action over this period, but these assets have been slowly bleeding into support on the weekly chart. Cardano, Solana, And Altcoins Could Get Hit Data shared by the Co-Founders of crypto analysis firm Glassnode via social media platform X indicates a rise in Bitcoin Dominance (BTC.D). The metric was slowly trending to the downside, but it found some support yesterday and could be poised to regain previously lost territory. The metric measures the percentage of the total crypto market capitalization comprised of Bitcoin. In addition, whenever BTC.D reaches a certain point, it often leads to mini altcoin bull or bear markets. The metric could hint at further losses for Cardano, Solana, and other tokens in the current scenario. The Glassnode Co-Founders stated: It’s not just ETH feeling the heat; other major altcoins like Solana, Cardano, Dogecoin, Tron, Polkadot, and Polygon are also deep in the red. With Bitcoin’s dominance climbing past 51%, inching closer to its 2021 peak, altcoins are indeed feeling the pressure. To see the resurgence of the much-awaited Altcoins Season, a significant recovery will be essential. As seen in the chart below, the Bitcoin Altcoin Cycle chart is moving closer to a “Bitcoin Season,” as indicated by the blue line. As Bitcoin Dominance trends upwards into the 50% territory, altcoins will likely keep seeing losses in the short time frame. However, the Bitcoin Altcoin Cycle chart shows that the BTC.D stands at a critical zone. The metric has bounced back into the Altcoin Season Territory in the past. In particular, Cardano, Solana, XRP, Ethereum, and other altcoins enjoyed a substantial rally in July. If Bitcoin can’t produce a catalyzer, something to push it above the 50% area in dominance, then Altcoins can see some profits. Related Reading: Cardano Founder Addresses ETHGate Rumors: Did Ethereum Bribe The SEC To Go After XRP? Ethereum could potentially hold the key to propel altcoins into a hot season. On this cryptocurrency’s price action, the Glassnode co-founder stated: From its weekly resistance at $1,744, ETH has tumbled, marking an 8% decline in just two weeks, landing it at $1,574. While the price seems to be consolidating, the upward slope of the RSI suggests buyers are vying for higher levels. Yet, with sellers resisting this advance, they might (…). Cover image from Unsplash, chart from Tradingview