Author: Sollcrypto
Cardano (ADA) is eyeing a fresh surge, targeting a breakout above the $0.4500 resistance zone. To gain bullish traction, ADA needs to establish a solid position above the 100-period Simple Moving Average (4 hours). Key highlights: Cardano Price Seeks to Surge Again In the past few days, Cardano has been in recovery mode, bouncing back from the $0.4180 zone, similar to Bitcoin and Ethereum. The ADA price successfully broke through the $0.4350 and $0.4420 levels, indicating a shift into a short-term bullish phase. The upward move also included a break above the 23.6% Fibonacci retracement level, calculated from the $0.5227…
Bitcoin’s price began a steady climb, surpassing the $62,500 resistance level, but it is currently facing challenges around the $64,500 and $65,000 resistance zones. The cryptocurrency is demonstrating positive momentum but encountering resistance near the $64,500 mark.Bitcoin’s price is currently trading above $62,500 and the 100-hour Simple Moving Average.An important bullish trend line is forming, providing support at around $62,800 on the hourly chart for the BTC/USD pair (data sourced from Kraken).Despite the recent upward movement, the pair might find it difficult to break through the $64,500 and $65,000 resistance levels. Bitcoin Price Encounters Resistance Barriers Bitcoin found support around…
As of May 3, 2024, Bitcoin’s price is $59,142, with an intraday range from $57,789 to $60,000. The leading cryptocurrency holds a market capitalization of $1.15 trillion, with a trading volume of $28.43 billion within the past 24 hours. Bitcoin Bitcoin’s daily chart analysis indicates a persistent bearish trend, with the price sliding from a peak of $72,750 on April 7 to a support level around $56,500 by April 30. The bearish momentum is evident in the increased trading volume accompanying downward price movements, signaling the possibility of further declines if this support level gives way. On the 4-hour chart,…
CleanSpark has published its first monthly unaudited Bitcoin mining and operations update since the Bitcoin halving. The company surpassed 17 EH/s in hashrate and achieved remarkable results, mining a total of 721 BTC in April, including a record-breaking daily output of over 48 BTC. Zach Bradford, CleanSpark’s CEO, noted the significant gains in mining efficiency as the company rolls out advanced S21 machines across its growing network of facilities. These advancements have contributed to increased mining productivity and lower operational costs. Bradford stated, “The substantial increase in transaction fees following the halving has significantly boosted our Bitcoin production this month,…
Bitcoin (BTC) is consolidating in the mid-$57,000s, down around 5% for the day but up about 1.5% or $1,000 from earlier session lows. This uptick comes as traders digest the Federal Reserve’s latest policy announcement and its potential impact on rate cuts this year. The Fed held interest rates at a multi-decade high of 5.25-5.5% and eased its balance sheet reduction pace. The central bank will now allow its asset portfolio to shrink by only $25 billion per month, a significant decrease from the prior rate of $60 billion per month. This reduction, smaller than expected, may have triggered a…
Bitcoin (BTC) dropped more than 5% on Tuesday, falling below the $60,000 mark after a lackluster first day of spot Bitcoin ETF trading in Hong Kong and in light of recent US economic data suggesting persistent inflation. This data strengthens the argument for the Federal Reserve to delay cutting interest rates. Bitcoin, which had nearly reached $65,000 in early Asian trading, was last seen around the $59,900 level. As macroeconomic and fundamental pressures mount, technical analysis indicates that BTC might be facing a near-term correction into the $50,000s. Since mid-April, Bitcoin’s price has consistently met resistance at its 21-day and…
Ethereum has entered an ascending price channel, potentially shaping its short-term trajectory. This technical pattern suggests a cautiously optimistic outlook, though it also signals some possible risks. The ascending channel on Ethereum’s daily chart shows ETH making higher lows and higher highs, a bullish sign in conventional market analysis. However, ETH is currently hovering near the channel’s lower boundary, around the $3,000 mark, which raises concerns about a potential breakdown. If Ethereum doesn’t maintain this level, it could correct toward $2,700, indicating a notable shift in market sentiment and momentum. This possible drop to $2,700 is crucial because it aligns…
On Monday, Bitcoin (BTC) experienced a slight premium in Japanese markets amid volatile yen trading due to a holiday-thinned session. As the yen fluctuated wildly, some observed that this increased foreign exchange (FX) volatility might impact the crypto market. Bitcoin traded with a slight premium on Japanese exchanges on Monday, as the Japanese yen (JPY) initially slid to a 34-year low against the U.S. dollar before rebounding with signs of central bank intervention. The BTC/JPY pair on the Japanese crypto exchange bitFlyer traded at a 0.2% premium compared to the BTC/USD pair on the Nasdaq-listed Coinbase, according to TradingView data.…
Bitcoin’s price had been on a downward trend in recent days, dropping to $62,300 yesterday. However, it has rebounded, recovering nearly $2,000 since then. Altcoins are also showing positive movement, with Ethereum (ETH) climbing above $3,300 and Solana (SOL) retaking the $140 mark. BTC Challenges $64K Just over a week ago, Bitcoin underwent its fourth halving, reducing block rewards for miners by half. This event occurred amidst heightened geopolitical tension between Iran and Israel, leading to considerable price volatility for Bitcoin. After a steep drop to below $59,500, Bitcoin rebounded, climbing more than $5,000 to exceed $65,000 last weekend. It…
MicroStrategy’s founder and Chairman, Michael Saylor, has experienced considerable fluctuations over the last 25 years. The dotcom bubble burst in 2000 wiped out 99% of the company’s stock value. In 2022, Bitcoin, a crucial component of MicroStrategy’s balance sheet, plummeted by more than 70% from its all-time high in November. However, by March 2024, MicroStrategy’s stock (MSTR) surged by a remarkable 461.7% over the previous year. Despite the tumultuous events, MicroStrategy has proven to be a success story for its investors. Who are the owners of MicroStrategy? MicroStrategy Inc. is a company that specializes in enterprise analytics and mobility software.…