Author: Sollcrypto
Ethereum’s price is making an effort to climb above $1,720 against the US Dollar. It has the potential for a significant upward momentum if it successfully breaks through the $1,750 resistance. Currently, Ethereum is in the process of a fresh upward movement beyond the $1,720 mark. It is maintaining a trading position above $1,700 and is also above the 100-hourly Simple Moving Average. Additionally, there is an emerging connecting trend line with resistance approximately at $1,750 on the hourly ETH/USD chart (data sourced from Kraken). If the price manages to surpass the $1,750 resistance area, it could continue its ascent.…
A federal judge, Lewis Kaplan, has issued a ruling ahead of FTX founder Sam Bankman-Fried’s trial, stating that he cannot lay blame for his alleged wrongdoings on FTX’s legal counsel during his opening statement. Judge Kaplan’s order highlights the potential for confusion or bias among the jury if Bankman-Fried were to emphasize the involvement of FTX’s lawyers in certain company decisions without providing specific details about their roles, tasks, knowledge, and his own awareness of their actions. Bankman-Fried’s trial is scheduled to commence on Tuesday. Plan to attribute partial responsibility to FTX lawyers. In August, legal representatives of Sam Bankman-Fried…
The shift to Proof of Stake (PoS) had sparked widespread optimism about Ethereum’s promising future, driven by the anticipation of supply scarcity. However, the prolonged bear markets quickly posed a substantial challenge to the reigning altcoin. Ethereum’s Coin Inflation The supply dynamics within Ethereum are experiencing disruptions during bear markets. Reduced activity in areas such as DeFi and meme coins, along with waning interest in other sectors, has led to a decline in network activity. This decline marks the onset of a challenging period for ETH. Depending on the specific time frame under consideration, Ethereum’s inflation status varies. Different periods…
Cardano (ADA) has become a focal point of discussions due to its notable market dynamics. Recently, the ADA token has displayed indications of a potential shift in its prevailing trend, capturing our attention. According to the most recent data, Cardano is currently trading at approximately $0.2504. One of the most notable technical indicators signaling this transformation is the upward breakout from a descending triangle pattern. Typically regarded as a bullish signal, this pattern suggests that the asset may be poised to enter a new phase of upward momentum. Since this breakout, Cardano has been gaining momentum, providing further support to…
On September 28, Ethereum (ETH) swiftly surged by 3% to reach $1,650, following a suggestion by Bloomberg Analyst Eric Balchunas that the SEC might approve an Ethereum Futures ETF by Friday. The question now is: how will this development impact Ethereum’s spot market prices? The anticipation of an impending Ethereum ETF approval has led to a substantial increase in capital flowing into ETH Derivatives markets. The question on everyone’s mind is, if these market forecasts come to fruition, how high can Ethereum prices soar? Ethereum’s Open Interest Reaches a 40-Day High Following $450 Million Inflows. On September 28, Ethereum experienced…
According to a September 28 report from the Financial Times, OpenAI has plans to create an AI-focused counterpart to the iPhone. The report suggests that OpenAI is in early discussions with LoveFrom, a design firm founded by renowned British designer Jony Ive, known for his past design contributions at Apple before leaving the company in 2022. Presently, design brainstorming sessions are aimed at devising a user-friendly and intuitive means of interacting with artificial intelligence. The sources cited by the Financial Times emphasize that the details are still in the works. They indicate that a formal partnership announcement may not occur…
Despite the decline in value, several major institutions continue to place substantial bets on NFTs. In the last couple of years, the cryptocurrency market has been a tumultuous ride, characterized by dramatic highs and lows, and the Non-Fungible Tokens (NFTs) sector has not been immune to these fluctuations. Challenges Confronting the NFT Market The NFT market, once in the throes of a euphoric bull run throughout 2021 and 2022, with August 2021 recording nearly $3 billion in monthly trading volume, has undergone a stark reversal of fortune. Recent data from The Block indicates a weekly trading value of approximately $80…
At the moment of writing, Bitcoin is valued at $27,100, representing a 60% drop from its peak of $69,000 in 2021. As enthusiasm grows for the impending bull market, inquiries emerge concerning Bitcoin’s prospective price trajectory. Amidst the primarily speculative forecasts, an analyst has formulated a model that draws on past data to project potential price peaks and troughs for Bitcoin in the future. Historical Bitcoin Price Trends in Previous Cycles Since its inception, Bitcoin has exhibited remarkable growth, delivering significant rewards to early, patient investors. This price surge is evident when analyzing Bitcoin’s price movements from its lows to…
Despite the formation of a bullish triple-bottom pattern, Cardano’s (ADA) price has struggled to trigger any upward movement. Following the breakout, ADA has experienced a notable absence of momentum, resulting in a return to its pre-breakout levels. Could the Triple Bottom Pattern Trigger a Reversal in ADA’s Trend? On the daily timeframe, technical analysis reveals that ADA’s price has been on a decline since reaching its yearly peak of $0.46 in April, eventually hitting a low point of $0.22 on June 10. Subsequently, Cardano experienced a rebound, characterized by a notable extended lower wick (indicated by the green icon), thereby…
Between September 26th and 27th, Floki Inu (FLOKI) experienced a price surge, climbing from $0.00001561 to $0.00001596, a move that drew significant attention in the cryptocurrency market. Although FLOKI has since retraced to $0.00001590, there is growing anticipation of a strong performance in October. One individual who played a prominent role in the discussion surrounding FLOKI was Crypto Tony, an NFT and cryptocurrency investor. According to Tony, the potential increase in the price of Dogecoin (DOGE) could act as a catalyst for FLOKI’s rally. Tony also expressed the view that FLOKI was situated within a macro support zone, suggesting the…