Category: Cryptocurrency News

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Dogecoin is gaining bullish momentum above the $0.070 resistance against the US Dollar. DOGE could extend its rally toward the $0.080 resistance zone. DOGE is currently showing positive signs above $0.068 resistance against the US dollar. The price is trading well above the $0.070 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.070 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could start a fresh rally if it clears the $0.0732 resistance zone. Dogecoin Price Could Rally Over 10% After a downside correction, Dogecoin’s price found support near the $0.0680 zone. DOGE formed a base and recently started a fresh increase from $0.0675, outperforming Bitcoin and Ethereum. In the past two sessions, there were bullish moves above the $0.070 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.0750 swing high to the $0.0670 low. DOGE is now trading well above the $0.070 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.070 on the 4-hours chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.0732 level. Source: DOGEUSD on TradingView.com The 76.4% Fib retracement level of the downward move from the $0.0750 swing high to the $0.0670 low is also near the $0.0732 level. The first major resistance is near the $0.0750 level. A close above the $0.0750 resistance might send the price toward the $0.0780 resistance. The next major resistance is near $0.080. Any more gains might send the price toward the $0.082 level. Fresh Decline in DOGE? If DOGE’s price fails to gain pace above the $0.0732 level, it could start a downside correction. Initial support on the downside is near the $0.070 level and the trend line. The next major support is near the $0.0675 level. If there is a downside break below the $0.0675 support, the price could decline further. In the stated case, the price might decline toward the $0.0650 level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.070, $0.0675, and $0.0650. Major Resistance Levels – $0.0732, $0.0750, and $0.080.

Coin Center said the bill was unconstitutional, while the Blockchain Association called it incompatible with blockchain technology.

Ethereum price is struggling to clear the $1,920 resistance against the US Dollar. ETH could gain bearish momentum if there is a close below $1,875. Ethereum is trading in a range above the $1,875 level. The price is trading below $1,910 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support near $1,885 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if the price remains below $1,920 for a long time. Ethereum Price Struggles Below $1,920 Ethereum’s price attempted a fresh increase above the $1,900 level. However, ETH failed to gain traction above the $1,920 resistance and reacted to the downside, similar to Bitcoin. The price declined below the $1,885 level but remained stable above $1,875. A low is formed near $1,877 and the price is now consolidating losses. It is slowly moving higher above the $1,885 level. There is also a key rising channel forming with support near $1,885 on the hourly chart of ETH/USD. Ether is trading below $1,910 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,900 level. It is close to the 50% Fib retracement level recent decline from the $1,927 swing high to the $1,877 low. The first major resistance is near the $1,910 level or the 61.8% Fib retracement level recent decline from the $1,927 swing high to the $1,877 low, above which the price could test the main resistance at $1,920. Source: ETHUSD on TradingView.com The next major resistance is near the $1,940 level. Any more gains could send Ether toward the $2,000 resistance in the near term. More Losses in ETH? If Ethereum fails to clear the $1,920 resistance, it could continue to move down. Initial support on the downside is near the $1,885 level and the channel trend line. The first major support is near the $1,875 level, below which the price might gain bearish momentum. The next major support is near the $1,825 support level. A downside break and close below $1,825 could push the price toward the $1,770 level. Any more losses could open the doors for a move toward the $1,720 support 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 – $1,875 Major Resistance Level – $1,920

After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization.

Bitcoin price is still consolidating above $29,500. BTC must settle above the $30,400 resistance zone to start a steady increase in the near term. Bitcoin is struggling to clear the $30,000 resistance level. The price is trading below $30,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $29,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is a close above the $30,400 resistance. Bitcoin Price Remains In A Range Bitcoin price attempted a fresh increase above the $30,400 resistance zone. However, BTC struggled to settle above $30,400 and reacted to the downside. There was a break below a key bullish trend line with support near $29,950 on the hourly chart of the BTC/USD pair. The pair declined below the $29,850 level but the downsides were limited. The price stayed above the $29,500 support. A low is formed near $29,591 and the price is now attempting a fresh increase. There was a move above the $29,650 level. Bitcoin price is now trading below $30,000 and the 100 hourly Simple moving average. Immediate resistance is near the $30,000 level and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low. The first major resistance is near the $30,100 level. Source: BTCUSD on TradingView.com The 61.8% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low is also near the $30,100 level. The next major resistance is near $30,400. A close above the $30,400 level might start a fresh increase. In the stated case, the price could rise toward the $30,800 level. Any more gains could open the doors for a move toward the $31,200 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,600 level. The next major support is near the $29,500 level, below which the price could accelerate lower. In the stated case, the price could drop toward the $29,200 support zone. 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 near the 50 level. Major Support Levels – $29,600, followed by $29,500. Major Resistance Levels – $30,000, $30,100, and $31,400.

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On-chain data on July 19 shows that as much as 2 million XRP, the native currency of the XRP Ledger, were changing hands every minute on top cryptocurrency exchanges, including KuCoin and Poloniex. In a screen grab shared on Twitter, on-chain data reveals that more XRP was being traded in bulk, driving trading volumes higher across the board.  Accompanying the expansion, prices remain higher as of writing on July 20. The coin is up 72% from July 2023 lows, even though trading volumes in leading exchanges, including Binance, have since tapered slightly. Nonetheless, the resurgence in trading volumes this week suggests that the demand for the coin remains relatively higher. XRP And Its Spectacular Rally The token’s value experienced a surge following a recent court ruling declaring that the SEC could not provide evidence that it was a security. Per the Howey test, the judge concluded that XRP does not meet the legal definition of a security. Related Reading: SEC Allegedly Delays Assistance For US Crypto Market Bill Three years ago, in December 2020, the regulator filed a lawsuit alleging that Ripple, the blockchain company, and some of its executives, including Brad Garlinghouse, had raised over $1 billion through alleged illegal sales of XRP, an asset they claimed was an unregistered security. Ripple denied the allegations and fought the lawsuit, expending millions of dollars in legal expenses and eventually winning on this item.  Coinbase, Bitstamp, Crypto Exchanges Relisting The rally has also been boosted by the news that Coinbase Global, Kraken, and other top-tier cryptocurrency exchanges have relisted the token. Specifically, Coinbase delisted XRP in December 2020 following the SEC lawsuit, triggering a wave of delisting among cryptocurrency exchanges in the United States.  Relisting XRP across major exchanges could be a sign of confidence. It will likely boost the coin’s liquidity, increasing trading volumes in the coming months. Supporters find the listing a refreshing development, especially for clients in the United States who had been cut off from trading. Related Reading: Terraform Labs Appoints New CEO Following Do Kwon’s Sentencing In Montenegro Some predictions maintain that the token rally will likely continue in H2 2023. Judge Analisa Torres’ ruling in favor of Ripple Labs removed uncertainty around the coin’s status. This decision can also open more doors for institutional adoption.  Moreover, the rally and regulatory clarity cement the token’s position in the cryptocurrency market. This development may see it narrow its gap with Ethereum (ETH), perhaps even flipping it to become the second-largest coin after Bitcoin. In the last three years before the court ruling, the token shook off weakness and retained its slot in the top 10 cryptocurrencies by market capitalization amid the biting and extended crypto winter 2022. Feature image from Canva, chart from TradingView