Author: Sollcrypto
The decline in Ethereum’s price persisted, breaching the $3,320 support level. Currently, ETH is consolidating, and a potential upward movement may ensue upon surpassing the $3,320 mark. Ethereum continued its bearish trajectory, falling beneath the critical $3,320 support level. It remains below both $3,400 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD (data feed via Kraken), a significant bearish trend line is taking shape, indicating resistance around $3,320. Should the pair manage to surpass this resistance zone, it could gather bullish momentum. Ethereum Encounters Resistance in Price Trajectory On the hourly timeframe, Ethereum’s price remained entrenched…
Bitcoin’s price initiated a fresh downtrend after encountering resistance near the $70,000 zone. Currently, BTC has declined by over 5%, breaching the $67,500 support level. Bearish momentum is strengthening for Bitcoin from the $70,000 resistance area. The price is now trading below $68,500 and the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair (sourced from Kraken), a significant bearish trend line is forming, presenting resistance around $68,400. Given these developments, it’s possible that the pair may continue its descent towards the $64,000 support region in the near future. Bitcoin’s Price Dips into Negative Territory Bitcoin struggled…
Dogecoin has been undergoing a correction from its recent highs around the $0.230 mark against the US Dollar. In order to initiate a new upward trend, DOGE needs to maintain support above the $0.1750 level. Despite struggling to sustain levels above $0.225, DOGE has managed to trade above the $0.1750 mark and the 100 simple moving average (4 hours). However, a significant development occurred with the breach of a crucial bullish trend line, previously offering support at $0.2040, as observed on the 4-hour chart of the DOGE/USD pair (sourced from Kraken). Unless there is a close below the critical support…
Bitcoin has achieved a monumental monthly close at $71,285 on the Bitstamp exchange. This marks a historic milestone as the leading cryptocurrency has closed above the previous cycle peak for the first time. Currently, Bitcoin is trading at $70,441 on the Bitstamp exchange, retracing some of its earlier gains. Volatility has been relatively low over the past 24 hours, with approximately $114 million worth of long and short positions being liquidated. Of these liquidations, short positions accounted for the majority at $74 million. Does this cycle stand out from the rest? It’s noteworthy that Bitcoin has now achieved seven consecutive…
Vitalik Buterin has unveiled the next significant phase in the evolution of the Ethereum (ETH) network, referred to as “The Purge.” In a recent announcement, Buterin provided insights into the ongoing efforts to streamline the Ethereum protocol while enhancing its security measures. At the core of this evolution lies EIP-6780, a critical improvement introduced in the Dencun hard fork. This enhancement aims to simplify the protocol by refining the functionality of the SELFDESTRUCT opcode, thereby improving implementation efficiency and strengthening security measures. This initiative, as explained by Buterin, forms part of a broader mission to streamline Ethereum’s infrastructure and alleviate…
The price of Book of Meme (BOME) concluded March 2024 at $0.15, boasting a remarkable surge of over 2,265%. Recent social media trends hint at further bullish momentum anticipated for April. The Solana memecoin ecosystem has witnessed an impressive ascent since the beginning of the year, with tokens like Dogwifhat (WIF) and BONK taking the lead. However, the newly introduced Book of Meme (BOME) has prominently spearheaded the rally in recent weeks. Social media trends related to Book of Meme suggest the possibility of an April rally. Book of Meme (BOME) emerged as a Solana (SOL) memecoin on March 14,…
Decentralized finance protocol Ethena has announced an airdrop of 750 million ENA tokens to USDe holders scheduled for April 2. Aevo’s prelaunch futures linked to ENA surged by over 20% early on Friday. Prelaunch futures tied to Ethena’s forthcoming governance token ENA saw a significant surge on Friday, indicating a potential market capitalization of over $500 million upon its debut. During Asian trading hours, the ENA/USD pre-debut futures on the decentralized exchange Aevo were traded at 73 cents, marking a 22.29% increase over a 24-hour period. Ethena, which hosts the $1.3 billion USDe token, plans to distribute 750 million ENA…
The long-term forecast for Litecoin’s price is optimistic, indicating a bullish trend. The altcoin in recovery is poised to climb towards $105, with an initial challenge lying at $94. Surpassing this resistance level is crucial for Litecoin to reclaim its previous peak. Further positive momentum could drive it to $110. However, failure to overcome the initial barrier at $94 might lead Litecoin into a range-bound movement between $77 and $94. Currently, the altcoin is trading at $95.38 following its recent rejection. Analysis of Litecoin Indicators The price of LTC has surged above the moving average lines after previously being confined…
The Ethereum price remains stable above the $3,500 mark, indicating potential for further gains. A bullish trend may strengthen if it surpasses the $3,680 resistance level soon. Having retested the $3,450 mark, Ethereum is currently on an upward trajectory. It is trading above $3,500, supported by the 100-hourly Simple Moving Average. Notably, a significant breakthrough occurred as a key bearish trend line was breached, with resistance observed at $3,540 according to the hourly chart of ETH/USD (data feed via Kraken). The possibility of heightened bullish momentum looms if the cryptocurrency manages to establish stability beyond the $3,680 resistance zone. Ethereum’s…
Over the years, Cardano (ADA) has faced numerous criticisms, spanning from its price performance to its founder’s persona, and its community’s clashes with Solana. However, the project’s marketing team recently garnered attention when a viral video featuring female Cardano users circulated on social media. Dubbed the ‘Cardano Girls’ video, it has ignited discussions about the project’s endeavors to engage a wider audience. A Refreshing Change in the Community The ‘Cardano Girls’ video, created by Lily Brodi, a content creator and Cardano enthusiast, quickly went viral within hours of being uploaded. The video followed a popular social media trend where individuals…