Category: Cryptocurrency News

Ethereum price is slowly moving lower toward the $1,600 support against the US dollar. ETH remains at risk of more losses unless it clears $1,650 and $1,665. Ethereum is struggling to stay above the $1,600 support zone. The price is trading below $1,640 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels. Ethereum Price Holds Support Ethereum made another attempt to gain strength above the $1,650 resistance. ETH failed to settle above the $1,650 level, struggled to clear $1,665, and underperformed vs Bitcoin. A high was formed near $1,664 before the price saw a fresh decline. It retested the $1,620 support. A low has formed near $1,617 and the price is now attempting another recovery wave. There was a minor increase above the $1,625 level. Ethereum is now trading below $1,640 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,620 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,640 level or the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the recent decline from the $1,664 swing high to the $1,617 low. The next major resistance is $1,650 or the 76.4% Fib retracement level of the recent decline from the $1,664 swing high to the $1,617 low. The main resistance is still near the $1,665 level. A close above the $1,665 resistance might send the price toward the key resistance at $1,750. Source: ETHUSD on TradingView.com To start a decent upward move, Ether must settle above the $1,720 and $1,750 levels. The next key resistance might be $1,850. Any more gains might open the doors for a move toward $1,920. More Losses in ETH? If Ethereum fails to clear the $1,665 resistance, it could continue to move down. Initial support on the downside is near the $1,620 level. The next key support is $1,600. The first major support is now near $1,585. A downside break below the $1,585 support might start another strong decline. In the stated case, the price could revisit the $1,540 level. Any more losses may perhaps send Ether toward the $1,500 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,600 Major Resistance Level – $1,665

Gitcoin’s project lead said the snafu has resulted in nearly half a million in funds being forever locked in a one-way contract address.

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The head of the U.S. financial consumer watchdog says it’s looking to issue guidance on how crypto could fall into electronic fund transfer laws.

Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone. Bitcoin is holding gains and showing positive signs above the $27,450 zone. The price is trading above $27,800 and the 100 hourly Simple moving average. There is a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could soon revisit the $28,500 resistance zone in the near term. Bitcoin Price Aims Higher Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC declined below the $28,000 level and tested the $27,200 support zone. The recent low was formed near $27,185 and the price is again rising. There was a move above the $27,400 and $27,500 resistance levels. A high is formed near $28,284 and the price is now consolidating gains below the 23.6% Fib retracement level of the recent increase from the $27,185 swing low to the $28,284 high. Bitcoin is now trading above $27,800 and the 100 hourly Simple moving average. The price is now testing the $28,000 resistance zone. There is also a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com Immediate resistance on the upside is near the $28,000 level. The next key resistance could be near the $28,500 level. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $29,200 resistance. Any more gains might call for a move toward the $30,000 level. Another Rejection In BTC? If Bitcoin fails to continue higher above the $28,000 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,800 level and the 100 hourly Simple moving average. The next major support is near the $27,4500 level. The main support is now forming near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,650 in the near term. The next support sits at $26,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $27,800, followed by $27,200. Major Resistance Levels – $28,000, $28,500, and $29,200.

FTX’s so-called “Backstop Fund” figure was a big lie, according to the former chief technology officer of the crypto exchange

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During an episode of The Joe Rogan Experience, Altman expressed his excitement for Bitcoin and also said he was “super against” CBDCs.

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