Category: Cryptocurrency News

The journey of Cardano (ADA) toward reclaiming the $0.3 price level seems to be growing more challenging in the days ahead, as the cryptocurrency grapples with persistent bearish pressure. After successfully managing to hold the line at $0.3 during the latter part of July, the digital asset encountered a setback in early August when this crucial support level split, potentially paving the way for further price declines. The $0.3 mark not only signifies a March low but also acted as a pivotal resistance point during the months of June and July. This level demonstrated its resilience by transforming into a support level in late July and early August. Nevertheless, the breach experienced in early August did not immediately send ADA into a downward spiral.  Related Reading: Shiba Inu Steals The Spotlight, Leaving Bitcoin Behind In A Week Of Price Surges However, recent price analysis reveals a concerning development: a retest of this level followed by a price rejection has formed a bearish order block (OB) on the daily chart. Founder’s Jab At Ethereum Adds Intrigue Amidst ADA Struggles Meanwhile, Charles Hoskinson, the visionary founder of Cardano, has thrown shade at Ethereum, a primary rival in the cryptocurrency landscape. I remember when we were brutally mocked by the ETH Devs about the design of Ouroboros. Goodtimes — Charles Hoskinson (@IOHK_Charles) August 12, 2023 Hoskinson’s remarks were sparked by a video clip in which Ethereum developer Justin Drake commented on staking, likening it to sausage-making and suggesting that understanding the intricate process could lead to disillusionment. Hoskinson’s use of the colloquialism underscores his perspective on Ethereum’s staking mechanism. Some interpreted his comment as a candid critique of the opacity surrounding Ethereum’s staking process, hinting at potential undesirable aspects hidden beneath the surface. Ethereum’s own founder, Vitalik Buterin, has previously expressed reservations about staking Ether due to security and operational complexities, providing a backdrop to Hoskinson’s dig. ADA market cap currently at $10.19 billion. Chart: TradingView.com Cardano Market Performance At present, ADA is trading at approximately $0.290, according to CoinGecko data. Over the last 24 hours, the cryptocurrency has remained flat, while its value has decreased by a measly 0.5% over the past seven days.  Cardano price action today. Source: Coingecko As the broader cryptocurrency market continues to navigate through volatility, Cardano’s ability to regain its foothold at the $0.3 level remains a pivotal factor in determining its short-term trajectory. Related Reading: Toncoin (TON) Throws Weight Around To Lead Weekend Top 20 With 22% Rally Cardano’s struggle to recapture this price level amidst ongoing bearish pressure is a matter of growing concern. The recent breach of this crucial support level, coupled with a bearish order block formation, underscores the challenges ahead. In addition, Hoskinson’s subtle critique of Ethereum’s staking process adds an intriguing layer to ADA’s narrative, as the cryptocurrency community keenly watches its path forward in a dynamic and evolving landscape. (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 Analytics Insight 

In a recent note that has caught the attention of both traditional financial markets and the Bitcoin community, Goldman Sachs economists, including the renowned Jan Hatzius and David Mericle, have made a significant prediction regarding the Federal Reserve’s monetary policy. The note suggests that the Federal Reserve may commence a series of interest rate cuts by the end of June 2024. “The cuts in our forecast are driven by this desire to normalize the funds rate from a restrictive level once inflation is closer to target,” the Goldman economists wrote. This statement underscores the bank’s belief that the Federal Reserve’s current stance on interest rates may be too restrictive, especially if inflation rates continue to trend towards the central bank’s target. The note further elaborates: “Normalization is not a particularly urgent motivation for cutting, and for that reason we also see a significant risk that the FOMC will instead hold steady.” This cautious tone suggests that while Goldman Sachs is predicting a rate cut, they also acknowledge the unpredictability of the Federal Reserve’s decisions. Related Reading: US Bitcoin ETF Approval Could See North America’s ETF Volume Rise To 99.5% The recent data, which showed US inflation rising at a slower-than-expected rate of 3.2%, with the core consumer price index at a 4.7% annual pace, further complicates the picture. With the Fed’s benchmark rate currently set between 5.25% to 5.5%, Goldman Sachs expects it to stabilize around 3 to 3.25%. What Does This Mean For Bitcoin Price? Expectations of a rate cut from Goldman Sachs are in line with market expectations according to the CME FedWatch Tool. In May 2024, 68% already expect there to be at least a 25 basis point (bps) rate cut. However, it remains to be seen whether macro events will influence the Bitcoin price again. In the last few months, BTC increasingly decoupled from macro events while the stock market rallied towards all-time highs and stagnated around the $30,000 mark. Related Reading: Want A Bitcoin Spot ETF? Then Prove BTC Is Not Manipulated, Says SEC Interestingly, the timing could be very positive for the Bitcoin market. On the one hand, March 15, 2024 is the final deadline for spot Bitcoin ETF filings from BlackRock, Fidelity, Investco, VanEck, and WisdomTree; on the other hand, Bitcoin halving is coming up at the end of April (currently expected on April 26). The high expectations for these two events, coupled with a dovish monetary policy from the Federal Reserve, could be a massive catalyst for the Bitcoin price. At press time, BTC traded at $29,426 and saw another calm weekend amid the liquidity summer drought. Breaking above $29,550 is key to establish any bullish momentum to initiate another push towards $30,000. Featured image from iStock, chart from TradingView.com

The Cryptocurrencies Hub is key for PayPal to reinvent itself as a crypto-inclusive platform. The service will allow for the sale and purchase of cryptocurrencies among other functionalities.

Chainlink’s LINK price is holding the $7.30 support zone. The price could start a fresh increase if it clears the $7.50 resistance zone. Chainlink token price is showing positive signs above $7.30 against the US dollar. The price is trading above the $7.40 level and the 100 simple moving average (4 hours). There is a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could gain bullish momentum above the $7.50 resistance zone. Chainlink (LINK) Price Eyes Fresh Increase After a strong increase, LINK price faced sellers near the $7.90 zone against the US Dollar. A high was formed near $7.91 and the price started a downside correction, unlike Bitcoin and Ethereum. There was a move below the $7.60 and $7.50 levels. The price declined below the 50% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. The price also spiked below the $7.40 level. However, the bulls are active near the $7.30 support. LINK is trading above the 61.8% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. It is also above the $7.40 level and the 100 simple moving average (4 hours). Source: LINKUSD on TradingView.com It is now facing resistance near the $7.50 level. There is also a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK/USD pair. The first major resistance is near the $7.685 zone. A clear break above $7.685 may possibly start a fresh increase toward the $7.90 and $8.00 levels. The next major resistance is near the $8.20 level, above which the price could revisit $8.50. More Losses? If Chainlink’s price fails to climb above the $7.50 resistance level, there could be a downside extension. Initial support on the downside is near the $7.30 level. The next major support is near the $7.15 level, below which the price might test the $7.00 level. Any more losses could lead the price toward the $6.85 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now near the 50 level. Major Support Levels – $7.30 and $7.15. Major Resistance Levels – $7.50 and $7.685.

Originally, the internet was developed as an open and decentralized network for sharing information and facilitating communication. Over time, certain services and platforms gained dominant positions, leading to centralization of power and influence. Large corporations emerged, offering popular services and platforms that became an integral part of people's online experiences. Now we pay ISP's for…
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Is a ETH spot etf beside btc spot etf (before/within/ after approval) likely? Are there any filings for such etf‘s atm? Are there any reasons why a spot etf for eth has to be handled different in approval process from the pov of the SEC? I have these questions, cause i mentioned a lot of…
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Argentine presidential hopeful Javier Milei — a pro-Bitcoin, anti-central bank libertarian — has won a majority of the votes in a primary election.

Coca-Cola has chosen the newly-launched Coinbase layer-2 network Base to deploy its Masterpiece NFT collection.

Brian Armstrong said the next two weeks will see a series of rapid updates on the biggest pain points for Coinbase app users.

Ethereum price is attempting a recovery wave from the $1,835 zone against the US Dollar. ETH could start a steady increase if it clears the $1,860 resistance. Ethereum is trading in a range below the $1,860 and $1,880 resistance levels. The price is trading below $1,850 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop again if it stays below the $1,860 resistance. Ethereum Price Turns Red Ethereum’s price struggled to clear the $1,860 resistance zone and started a fresh decline. ETH settled below the $1,850 level to move into a bearish zone, similar to Bitcoin. There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH/USD. The pair tested the $1,830 zone. A low is formed near $1,833 and the price is now attempting a recovery wave. There was a move above the $1,840 level. The price traded above the 23.6% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,850 level. It is near the 50% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. The first major resistance is near the $1,860 level. The next key resistance is near the $1,880 level. Source: ETHUSD on TradingView.com A close above the $1,880 level could send the price toward $1,920. Any more gains might send the price toward the $2,000 hurdle, above which the price could rise toward the $2,040 level or even $2,120. More Losses in ETH? If Ethereum fails to clear the $1,860 resistance, it could continue to move down. Initial support on the downside is near the $1,835 level or the recent low. The first major support is near the $1,820 zone. If the bulls fail to protect the $1,820 support, there could be a sharp decline. The next major support is near the $1,780 support level. Any more losses might send the price toward the $1,720 level in the near term. 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 – $1,820 Major Resistance Level – $1,860