Category: Cryptocurrency News

Maker (MKR) is currently making waves in the cryptocurrency market with an impressive surge in value. Over the past month, MKR has exhibited remarkable growth, experiencing a substantial 40% increase in price. Today, the crypto flexes its muscle and leads the roster of top 50 coins. One noteworthy development amidst this rally is the strategic maneuver executed by a prominent crypto whale. This entity recently deposited 3,527 MKR tokens on the Binance exchange, capitalizing on the upward trajectory of MKR’s price.  This shrewd move has boosted the whale’s total MKR holdings to an impressive 10,000 tokens, resulting in a staggering $5.12 million in profits. This remarkable increase in value underscores the attractiveness of MKR as a lucrative investment in the current crypto landscape. The price of $MKR has increased by ~40% in the past 1 month and topped $1,500 today. A smart whale deposited 3,527 $MKR($5.27M) to #Binance to make a profit an hour ago. And currently has 10,000 $MKR($14.9M) left, the total profit is ~$5.12M(+34%).https://t.co/4atyyejMwJ pic.twitter.com/SyEBI3pNg4 — Lookonchain (@lookonchain) September 28, 2023 Related Reading: Under-The-Radar Altcoin Soars Over 260% – Here’s Why Maker: Impressive Metrics And Bullish Indicators As of the latest data from CoinGecko, MKR is currently trading at $1,553, reflecting a notable 4.1% gain in the past 24 hours and an impressive seven-day surge of 20%. What sets this rally apart is the consistency in MKR’s price patterns, characterized by higher highs and higher lows, a clear indicator of a bullish trend in the market.  The Relative Strength Index (RSI), according to recent price analysis, lends further credence to this bullish sentiment, with a reading of 79.34, indicating robust bullish momentum surrounding the MKR token. 📈 #Maker‘s price has now surged +40% in the past 16 days with its active addresses hitting a 10-week high in tandem with the asset crossing $1,500. An inflow of $MKR moving to exchanges is something to be cautious of for at least a temporary local top. https://t.co/oFeijYNZCO pic.twitter.com/rStBGX6TdM — Santiment (@santimentfeed) September 28, 2023 In addition to the price surge, data provided by Santiment reveals that the number of active MKR addresses has reached a 10-week high. This not only signifies an influx of new users into the Maker ecosystem but also highlights heightened activity among existing supporters of the protocol.  MKR market cap currently at $1.5 billion. Chart: TradingView.com MKR Breaches $1,500 Barrier Interestingly, this surge in activity coincided with MKR’s price surpassing the $1,500 threshold, suggesting a correlation between price action and increased user engagement. However, amid the optimism, Santiment issues a cautionary note for MKR investors. They emphasize the importance of vigilance concerning the current influx of tokens to exchanges, as this trend may foreshadow a potential market correction in the short term. While the current bullish momentum is undeniable, investors should remain cautious and mindful of the potential market dynamics in the coming days. Related Reading: Solana Bulls Struggle To Break $21 Barrier – What Lies Ahead? (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 Shutterstock

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“Spending way more than we earn” — CEO Tim Sweeney blamed job cuts on major structural changes to the company’s economics.

“I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars if convicted of all seven charges.

Tron price is gaining pace above $0.0850 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.092. Tron is moving higher above the $0.0850 resistance level against the US dollar. The price is trading above $0.0862 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.0855 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.092 or even $0.095. Tron Price Regains Strength In the last Tron price analysis, we discussed the chances of more gains in TRX against the US Dollar. TRX remained stable, outperformed Bitcoin, and traded above the $0.082 resistance level. The bulls were able to pump the price above the $0.0825 and $0.0850 resistance levels. A high was formed near $0.0879 and the price is currently consolidating gains. The current price action suggests that the price could climb further higher above $0.088. It is now trading well above the 23.6% Fib retracement level of the upward move from the $0.0820 swing low to the $0.0879 high. TRX is also trading above $0.0865 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0855 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.088 level. The first major resistance is near $0.0920, above which the price could accelerate higher. The next resistance is near $0.095. Source: TRXUSD on TradingView.com A close above the $0.095 resistance might send TRX further higher toward $0.10. The next major resistance is near the $0.105 level, above which the bulls are likely to aim for a larger increase toward $0.112. Are Dips Limited in TRX? If TRX price fails to clear the $0.088 resistance, it could start a downside correction. Initial support on the downside is near the $0.0867 zone. The first major support is near the $0.0855 level or the trend line. The trend line is near the 50% Fib retracement level of the upward move from the $0.0820 swing low to the $0.0879 high, below which it could test the 100 simple moving average (4 hours). The next major support is $0.0830. Technical Indicators 4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level. Major Support Levels – $0.0867, $0.0855, and $0.0830. Major Resistance Levels – $0.0880, $0.0920, and $0.0950.

Ethereum price is attempting a fresh increase above $1,650 against the US Dollar. ETH could accelerate higher if it clears the $1,670 resistance. Ethereum is attempting a fresh increase above the $1,620 level. The price is trading above $1,620 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $1,670 resistance zone. Ethereum Price Climbs Higher Ethereum’s price formed a base above the $1,580 level. ETH remained stable and climbed above the $1,620 resistance zone to move into a positive zone, like Bitcoin. There was a move above the $1,650 level but upsides were limited. A high was formed near $1,667 and there was a minor downside correction. The price is now trading near the 23.6% Fib retracement level of the upward move from the $1,583 swing low to the $1,667 high. Ethereum is trading above $1,640 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price might face resistance near the $1,670 level. The next major resistance is $1,720. A clear move above the $1,720 resistance zone could set the pace for a larger increase. In the stated case, the price could visit the $1,800 resistance. The next key resistance might be $1,820. Any more gains might open the doors for a move toward $1,880. Are Dips Limited in ETH? If Ethereum fails to clear the $1,670 resistance, it could a downside correction. Initial support on the downside is near the $1,645 level and the trend line. The next key support is $1,620 or the, below which the price could test the $1,600 support. A downside break below the $1,600 support might start another bearish wave. In the stated case, there could be a drop toward the $1,540 level. 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 level. Major Support Level – $1,620 Major Resistance Level – $1,670

In a hearing, Assistant U.S. Attorney Danielle Kudla said the Department of Justice estimated the case could last four to five weeks.

Bitcoin price is gaining pace above the $26,700 resistance. BTC is consolidating above $26,800 and might continue to rise above the $27,200 resistance. Bitcoin gained pace above the $26,500 and $26,700 resistance levels. The price is trading above $26,700 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher above the $27,200 resistance zone. Bitcoin Price Aims Higher Bitcoin price remained stable above the $26,000 support zone. BTC formed a base and started a steady increase above the $26,500 resistance zone. The bulls finally managed to pump the price above the $26,700 resistance. It even spiked above the $27,200 level. A high is formed near $27,312 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $26,100 swing low to the $27,312 high. Bitcoin is trading above $26,700 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $26,800 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com Immediate resistance on the upside is near the $27,200 level. The next key resistance could be near the $27,500 level. A close above the $27,500 resistance could send the price further higher. In the stated case, the price could climb toward the $28,200 resistance. Any more gains might call for a move toward the $28,500 level. Are Dips Limited In BTC? If Bitcoin fails to continue higher above the $27,200 resistance, there could be a downside correction. Immediate support on the downside is near the $26,800 level and the trend line. The next major support is near the $26,500 level or the 50% Fib retracement level of the upward move from the $26,100 swing low to the $27,312 high. A downside break and close below the $26,500 level might start another major decline. The next support sits at $26,000. Any more losses might call for a test of $25,400. 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 – $26,800, followed by $26,500. Major Resistance Levels – $27,200, $27,500, and $28,000.

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