Author: Sollcrypto
The awaited date for Astrobotic to send a physical Dogecoin to the moon using the DHL Moonbox aboard ULA’s Vulcan Centaur Rocket has arrived. There’s potential for DOGE to turn the $0.10 resistance into a support base, paving the way for a upward move towards the $0.10730 range. The bullish outlook remains intact unless there’s a daily candlestick closure below $0.08990. Despite Dogecoin’s decade-long existence, its current price consolidation indicates a buildup for the next move, with positive fundamentals favoring the bullish scenario over the bearish one. Latest News: Dogecoin Reaches the Moon After a prolonged anticipation, the awaited date…
Ethereum’s price continues to face challenges in reclaiming the $2,250 level, especially as Bitcoin surpasses $43,500. ETH is displaying worrisome indicators, signaling the potential for a significant downturn. The struggle persists for Ethereum to gather momentum for an upward move beyond the $2,250 resistance zone.The current price is trading beneath $2,220 and the 100-hourly Simple Moving Average.On the hourly chart of ETH/USD (data sourced from Kraken), a crucial bullish trend line is taking shape, providing support around $2,170.Should the price linger below $2,250 for an extended period, there’s a risk of a substantial decline for the pair. Ethereum Encounters Obstacles…
Disclaimer: Cryptocurrency is a high-risk asset class. This article is intended for informational purposes only and should not be considered as investment advice. By using this website, you acknowledge and agree to abide by our terms and conditions. Please note that affiliate links may be incorporated into our content, and we may receive a commission. Source: AdobeStock Despite recording the largest monthly supply since February 2022, the dominance of the entire stablecoin market cap fell to 8.07% in December, marking its lowest market share since December 2021. According to a CCData research report, the total market capitalization of stablecoins increased…
Bitcoin’s price is on an upward trajectory, recently breaking through the $43,500 resistance level. BTC remains in a robust uptrend and shows potential for further gains, potentially surpassing the $45,000 mark. The upward momentum continued as Bitcoin surpassed the $43,500 resistance zone.The current price is above $43,000, maintaining position above the 100 hourly Simple Moving Average.On the hourly chart of the BTC/USD pair (data sourced from Kraken), a bullish trend line is forming, providing support around $43,100.For a sustained upward movement, it’s crucial for the price to close above $44,500 and $45,000. This would likely signal a continuation of the…
Ethereum is presently hovering around $2,200, experiencing relatively calm volatility over the last seven days. Recent data from Santiment sheds light on the prevailing sentiment among Ethereum whale addresses, as the total supply on exchanges has recently reached a new low. According to the on-chain analytics platform, more than 240,000 ETH have departed from the ten largest Ethereum exchange wallets in the past 24 hours. Consequently, the cumulative ETH holdings on crypto exchanges have witnessed a substantial decrease from 8.03 million ETH to 7.79 million ETH within a single day, marking one of the most significant drops observed. Given the…
Bank of Korea Governor Rhee Chang-yong Urges Swift Action from Global Banking Regulators on CBDC Development During a financial conference in Seoul, Rhee Chang-yong, the Governor of the Bank of Korea (BOK), emphasized the imperative for central banks worldwide to expedite the creation of central bank digital currencies (CBDCs). Rhee underscored the necessity of introducing retail CBDC options to counteract the growing influence of stablecoins, citing the considerable risks they pose to global financial stability due to a lack of clear regulations. Rhee specifically referenced the high-profile collapses of stablecoins in 2022, notably highlighting the TerraUSD (UST) de-pegging incident that…
The Ethereum price faces challenges in reclaiming levels above $2,200 and $2,250. The potential for bearish momentum looms if there’s a decisive breach below the critical support at $2,120. Ethereum is encountering obstacles in its attempt to surpass the $2,150 resistance zone.The current price is below $2,200 and the 100-hourly Simple Moving Average.On the hourly chart of ETH/USD (data feed via Kraken), a bearish trend line is taking shape with resistance around $2,210.A successful breach of the $2,210 resistance could pave the way for further upward movement. Ethereum Encounters Obstacles in Price Movement Ethereum made an attempt to surge above…
Amidst the gradual recovery in the cryptocurrency market, XRP has encountered a notable hurdle at a key resistance level, prompting discussions among traders and analysts. The latest chart analysis suggests that XRP is contending with a downward momentum, potentially signaling an imminent reversal. The trajectory of XRP has brought it in proximity to the 100-day exponential moving average (EMA), a significant support level closely monitored by traders. This technical indicator serves as a gauge for the asset’s medium-term trend, and its interaction could indicate a pivotal moment for XRP’s future direction. As XRP approaches this critical support, it has slipped…
Chinese Authorities Embrace Blockchain for Digital Identity Verification Despite Cryptocurrency Ban In a surprising move, Chinese authorities are exploring the potential of blockchain technology for various use cases, particularly in the realm of digital identity verification. The Ministry of Public Security in China has unveiled plans for a blockchain-based identity verification system called RealDID, developed in collaboration with China Mobile Communications Group, Beijing Zhongdun Anxin Technology, and the Blockchain Service Network. RealDID aims to enhance citizens’ control over their identities, allowing them to selectively disclose information to third parties. The platform provides privacy features that limit enterprises’ access to only…
The Ethereum Daily RSI stands at 71, signaling an overbought condition.The Securities and Exchange Commission (SEC) has postponed decisions on Ethereum ETFs until May 2024 and is seeking public input.Ethereum, the second-largest cryptocurrency, has faced considerable price volatility and remained in a bearish state for over three days. However, a potential recovery is evident today, with ETH surging by 3% in the last 24 hours, mirroring the global market cap’s 4% increase during the same period. ETH reached a two-week low of $2119 yesterday but is currently trading at $2,236. Despite a modest 0.71% increase in the past week, significant…