Category: Cryptocurrency News

Concerns over the U.S. dollar’s impact on Bitcoin may be overstated by investors, particularly in the longer term.

My portfolio is bleeding red but yeah, Spot crypto markets may still be deep in bear territory but venture capital investment is still flowing in to Web3 startups. More than $115 million was raised last week alone across a number of crypto startups. The largest raise of the week was blockchain game studio Proof of…
Read more

Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market.  While LTC has a history of volatile price swings, recent times have seen it mirroring the sideways movement of the overall market, largely influenced by Bitcoin’s fluctuations, which rose from $25,000 to $27,000 before dropping to $26,000. As of the latest data from CoinGecko, Litecoin is currently trading at $64.63, with a 24-hour gain of 0.7%. However, over the past seven days, LTC has experienced a decline of 2.9%, reflecting the prevailing bearish sentiment in the market, according to a recent price report. Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again? Chasing Litecoin Bulls and Avoiding The Bears For those looking for a bullish revival in Litecoin’s price,  a price report notes that the key level to watch is the 23.6% Fibonacci retracement level, which stands at $69. Breaking above this level could open the door for further gains, with potential targets lying at $78 and $80. On the other hand, if the flat trading volume persists, bears may exert further pressure, potentially leading to a drop in LTC’s price to the $60 mark. Source: Coinalyze Market speculators have not been particularly enthusiastic about Litecoin’s recent sideways movement. The Open Interest (OI) for LTC has continued to decline, with data from Coinalyze indicating a $9 million drop within the past 48 hours. This suggests that traders and investors are becoming increasingly cautious as they monitor the developments in the Litecoin market. Litecoin’s Investment Appeal in Q3/Q4 Despite the recent lackluster performance, some analysts believe that Litecoin remains an attractive investment opportunity in the third and fourth quarters of this year. Litecoin’s established reputation, solid ecosystem, and upcoming halving events are factors that contribute to its appeal. LTC market cap currently at $4.7 billion. Chart: TradingView.com Halving events have historically had a positive impact on Litecoin’s price, reducing the rate at which new LTC coins are mined and potentially increasing scarcity. Related Reading: Will Dogecoin Bounce Back To $0.07? Here’s What To Watch For Market participants are closely watching the 23.6% Fibonacci retracement level at $69 for signs of a bullish revival, while a continuation of flat trading volume could see LTC drop to $60. Despite recent market concerns, Litecoin’s strong fundamentals and upcoming halving events make it an investment opportunity worth considering as we move into the later part of the year. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Invest Right

Crypto influencer Ben “BitBoy” Armstrong has reportedly been arrested following a livestream outside the house of Carlos Diaz, a former business partner.

submitted by /u/Geolinear [link] [comments]

Bitcoin Ordinals inventor Casey Rodarmor says a fungible token protocol like Runes wouldn’t leave as much “junk” on the Bitcoin network as that of BRC-20 tokens.

Ripple’s token price is holding gains above $0.50 against the US Dollar. XRP price could take a hit if it fails to recover above $0.512. Ripple’s token price is attempting a fresh increase above $0.508 and $0.512 against the US dollar. The price is now trading above $0.500 and the 100 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above $0.512. Ripple’s Token Price Holds Key Support In the last XRP price prediction, we discussed the chances of more gains in Ripple’s XRP against the US Dollar. The price did climb above the $0.515 resistance level, but upsides were limited, like Bitcoin and Ethereum. The price struggled to clear the $0.525 resistance. A high was formed near $0.5254 and the price saw a downside correction. There was a move below $0.512 and a spike below $0.50. A low is formed near $0.4907 and the price is now consolidating. It is back above the 23.6% Fib retracement level of the recent decline from the $0.5254 swing high to the $0.4907 low. XRP price is also trading above $0.500 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.508 level. Besides, there is a major contracting triangle forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair. The triangle resistance coincides with the 50% Fib retracement level of the recent decline from the $0.5254 swing high to the $0.4907 low. Source: XRPUSD on TradingView.com The next major resistance is near the $0.5120 level. A close above the $0.512 level could send the price toward the $0.525 barrier. A successful break above the $0.525 resistance level might start a strong rally toward the $0.555 resistance. Any more gains might call for a test of the $0.580 resistance. Downside Break in XRP? If ripple fails to clear the $0.512 resistance zone, it could start another decline. Initial support on the downside is near the $0.50 zone and the 100 simple moving average (4 hours). The next major support is at $0.490. If there is a downside break and a close below the $0.490 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.460 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.500, $0.490, and $0.460. Major Resistance Levels – $0.508, $0.512, and $0.525.

Binance and Mitsubishi UFJ Trust and Banking Corporation (MUTB) are exploring the issuance of Yen and other foreign currency-denominated stablecoins in Japan.

submitted by /u/BoomBoomTucki [link] [comments]

Ethereum price is attempting a recovery wave from $1,565 against the US Dollar. ETH could struggle to recover above $1,600 and might resume its decline. Ethereum is slowly moving higher toward the $1,600 resistance zone. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it fails to clear the $1,600 resistance zone. Ethereum Price Struggles Below $1,600 Ethereum’s price started a fresh decline below the $1,620 and $1,600 levels. ETH even declined to a new weekly low below the $1,580 level, unlike Bitcoin. It traded as low as $1,565 and recently started a short-term upside correction. There was a move above the $1,580 level. The price climbed above the 50% Fib retracement level of the recent drop from the $1,600 swing high to the $1,565 low. However, the bears are still active near the $1,600 resistance. The price is struggling to clear the 76.4% Fib retracement level of the recent drop from the $1,600 swing high to the $1,565 low. Ether is now trading below $1,600 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,595 level. Source: ETHUSD on TradingView.com The next major resistance is $1,600. A push above $1,600 might send Ethereum toward $1,620. If the bulls succeed in clearing the $1,620 hurdle, the price could start a decent increase toward the $1,650 resistance. Any more gains might open the doors for a move toward $1,700. More Losses in ETH? If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,580 level. The next key support is $1,565, below which the price could test the $1,540 support. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop 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 above the 50 level. Major Support Level – $1,565 Major Resistance Level – $1,600