|All Time High:|
|Market Cap: |
|The price of #STRONG today is $6.43 USD.|
The lowest STRONG price for this period was $0, the highest was $6.43, and the exact current price of one STRONG crypto coin is $6.42568.
The all-time high STRONG coin price was $1,248.
Use our custom price calculator to see the hypothetical price of STRONG with market cap of ETH or other crypto coins.
|The code for StrongBlock crypto currency is #STRONG. |
StrongBlock is 2.1 years old.
|The current market capitalization for StrongBlock is $3,035,946.|
StrongBlock is ranked #715 out of all coins, by market cap (and other factors).
|There is a modest volume of trading today on #STRONG.|
Today's 24-hour trading volume across all exchanges for StrongBlock is $60,862.
|The circulating supply of STRONG is 472,471 coins, which is 91% of the total coin supply.|
A highlight of StrongBlock is it's unusually low supply of coins, as this tends to support higher prices due to supply and demand in the market.
StrongBlock Nodes-as-a-Service upgrades to STRNGR token
StrongBlock, which pioneered Nodes-as-a-Service (NaaS) by rewarding node creators for their participation, is excited to announce it will be upgrading its NaaS DApp platform to the Stronger (STRNGR) token on April 5, 2022, Pacific Time. For several hours prior to the upgrade, claiming of STRONG will be disabled. This will be announced on Twitter, on the Website, and in the DApp. STRONG within the NaaS DApp platform will be automatically upgraded to STRNGR on a 1:1 basis. No action will be required by anyone already participating in the platform. After the upgrade is complete, STRNGR will replace STRONG as the token used to create nodes within the NaaS DApp in current and upcoming protocols, as well as the reward token for the NaaS DApp. This platform-wide upgrade will include contributions and rewards for:Ethereum 1.0 NodesPolygon NodesDVPN NodesStrongPool miners For the Ethereum 2.0 pool, only contributions will be upgraded to STRNGR. Rewards in that pool will continue to be in ETH. The following LP pools will only have rewards upgraded to STRNGR.UNI-V2 LP STRONG-ETHUNI-V2 LP LINK-STRONG Since these two pools require mining with LP tokens that incorporate the STRONG token, mining into them will be disabled when the upgrade takes place. A new mining pool will be created for STRNGR-ETH LP tokens. These LP tokens can be created by providing liquidity in a Uniswap STRNGR-ETH pool that will be created — and initial li...
Fantom Nodes available soon through StrongBlock Nodes-as-a-Service
StrongBlock, the pioneer in Nodes-as-a-Service (NaaS) offerings that reward node creators for their participation, is excited to announce it will soon be launching full blockchain nodes for Fantom, a layer 1 EVM-compatible platform. StrongBlock’s mission is to provide non-technical users the ability to launch and operate full blockchain nodes to increase blockchain strength, incentivizing them with STRONG and native protocol tokens. StrongBlock provides a significant opportunity for expansion and support of the Fantom network. Over 77,000 nodes have already been created through the StrongBlock platform by over 11,000 participants. In doing so, StrongBlock provides resources to networks seeking security, diversity, and decentralization. StrongBlock’s infrastructure will provide significantly more Fantom full nodes, expanding their reach beyond its existing capacity. “The STRONG node army is growing and vibrant. We’re excited to provide Fantom node-launching to them,” said David Moss, StrongBlock Founder. “The node army marching into the Fantom ecosystem will increase awareness and expand adoption. It’s amazing to watch.” Fantom has agreed to subsidize a portion of node rewards through a grant of FTM tokens to the StrongBlock community. StrongBlock also plans to develop innovative validator and node pool initiatives on Fantom in the future. StrongBlock is also exploring becoming a Fantom validator. “We’re ...
StrongBlock Cross-Chain and Nifty-Fi
Overview As detailed in the StrongBlock Flash Paper, nodes provide crucial blockchain data, yet aren’t rewarded — so there’s no reason for them to stay in compliance. To solve this problem, StrongBlock provides easy-to-use tools to launch compliant blockchain nodes in seconds, rewarding operators for running them. With over 32,700 Ethereum nodes already launched and being rewarded as of this writing, StrongBlock has democratized node creation by allowing non-technical people to participate in blockchains and make a difference. We’re preparing to launch nodes for many more protocols from our platform. Some of these protocols — like Sentinel DVPN nodes on the Cosmos blockchain — will not be Ethereum-based. That’s in line with our mission to be blockchain agnostic. Yet there’s a reason we chose Ethereum to start.Cross-Chain Like Ethereum, Disneyland has great rides and amazing variety, but it’s hot, crowded and expensive. Like Yogi Berra once said, “No one goes there nowadays, it’s too crowded.” We’ve all heard a lot about the rise of Ethereum killers. Yet no Ethereum killer has yet achieved Ethereum’s massive network effect. In other words, everyone goes to Ethereum, even though it’s hot, crowded and expensive. Because everyone is there. When we launched our Nodes-as-a-Service (NaaS) platform in December, 2020, we chose Ethereum Virtual Machine (EVM) as our protocol due to its portabi...
Sentinel and StrongBlock Combine Forces for Greater dVPN Node Availability
Sentinel, a one-of-a-kind network layer that allows the development of third-party and white-label decentralized Virtual Private Network (dVPN) applications, is excited to announce its integration with StrongBlock, the leading Nodes-as-a-Service (NaaS) provider. StrongBlock launches and operates full blockchain nodes for non-technical users to increase blockchain strength, rewarding them with STRONG or native protocol tokens. With this integration, the stage is set for Sentinel’s dVPN to expand in scope and utility, while creating new use cases for the network. With over 5,800 operators running 23,000+ nodes, StrongBlock allocates resources to networks seeking security, diversity, and decentralization. By combining forces with Sentinel, a network that has over 300,000 global users of dVPN applications, StrongBlock’s infrastructure will provide significantly more dVPN nodes, expanding Sentinel’s dVPN bandwidth far beyond its existing capacity. Combined, the two organizations will provide a truly decentralized VPN that surpasses the performance and user experience of existing centralized competitors such as NordVPN, ExpressVPN, Mullvad, and TunnelBear, all of which have single points of failure due to their centralized architecture. Providing nodes for Sentinel is a leap forward in StrongBlock’s long-term strategy of increasing node ecosystem support across blockchain protocols, while providing value generation to the n...
StrongBlock launches STRONG Listing on ChainSwap
StrongBlock is pleased to announce that the $STRONG token is now listed on Antimatter’s ChainSwap Exchange. $STRONG token holders can now seamlessly bridge STRONG from ETH to Binance Smart Chain (BSC), or ETH to Huobi Eco Chain (HECO), with more chains to follow. Listing on ChainSwap makes $STRONG tokens more accessible across chains and the broader DeFi ecosystem, opening up endless possibilities for further cooperation, as well as added awareness and market adoption. By providing a token bridge to BSC and HECO, STRONG users can now immediately take advantage of the lower transaction fees, faster processing times, and the ability to trade on BSC’s Pancake Swap. This token bridge is an important step in StrongBlock’s overall strategy of moving to Ethereum side-chains and L2 solutions for most user transactions. This will result in dramatically lower gas fees for new nodes, pools, vaults, farms, and other components, and allow further integration of NFT’s and gamification into the StrongBlock ecosystem. Please note that you may come across fake $STRONG on BSC and HECO, just like on Ethereum, so always be careful and double check the contract address, which is the same on all three chains. The STRONG contract address on all three chains: ETH mainnet: https://etherscan.io/token/0x990f341946A3fdB507aE7e52d17851B87168017c BSC mainnet: https://bscscan.com/address/0x990f341946a3fdb507ae7e52d17851b87168017c HECO mainnet: ht...
StrongBlock and DAO Maker Enter Strategic Partnership
StrongBlock is pioneering monetized node operation, utilizing DeFi protocols and NFT’s to further incentivize the node community. StrongBlock’s Nodes As A Service (NaaS) allows anyone to run a node without technical expertise, creating a seamless on-ramp to attract more users to build and strengthen their blockchain of choice. By partnering with StrongBlock, DAO Maker expands its ecosystem to a community with over 11,000 nodes, adding this service as an optimal solution for our blockchain partners to efficiently enable network security in a fraction of the time. DAO Maker will assist the strategic expansion of StrongBlock from Ethereum 1.0 to additional blockchains, enabling business collaboration to maximize network benefits within the DAO Maker Ecosystem and beyond. About DAO Maker Founded in 2018, DAO Maker creates growth technologies and funding frameworks for startups while simultaneously reducing investors’ risks. DAO Maker provides leading solutions in community incubation, fundraising, and other growth-related techs for tokenized businesses, featuring Social Mining SaaS for community growth, DYCO & SHO for fundraising support, and upcoming Venture Bond & YieldShield to create safe environments for retail investors. For more information, please visit: https://daomaker.com/ About StrongBlock StrongBlock, led by blockchain and enterprise software veterans including CEO David Moss, CTO Brian Abramson, and...
StrongBlock Flash Paper
Overview StrongBlock is the first and only blockchain-agnostic protocol to reward nodes for supporting the infrastructure of their blockchain. Why incentivize nodes? With limited resources and no financial incentive, many nodes run out-of-date software, maintain incomplete blockchain histories , and are intermittently off-line. There is no easy mechanism to fix this problem once a blockchain is launched. To solve this, StrongBlock has made it possible for anyone to create a node in seconds — or add their own node — and receive STRONG token rewards every day. More nodes equals more resilience. At the time of writing, StrongBlock is rewarding over 1700 Ethereum 1.0 nodes, representing more than 15% of all Ethereum active nodes. This paper provides details of how the protocol uses incentives and governance to prioritize the safety and sustainability of node rewards, compounding value for token holders by regularly reducing supply. Currently, only Ethereum 1.0 Full Nodes are eligible for STRONG rewards. Ethereum 2.0, Bitcoin and other protocols will be eligible at a later date.Team The StrongBlock team is composed of blockchain and enterprise software veterans including CEO David Moss, CTO Brian Abramson, and CPO Corey Lederer.STRONG Facts and DefinitionsSTRONG: A governance token, enabling decentralized protocol governanceName: StrongSymbol: STRONGTYPE: ERC-20Decimals: 18Original Supply: 10,000,000Burned: 9,472,2...
StrongBlock Nodes as a Service (NaaS)
StrongBlock Nodes as a Service StrongBlock is excited to present the details of its “Nodes as a Service” (NaaS) offering. This initiative allows anyone to create a Full Ethereum node in a few seconds with no technical expertise. In addition, a number of updates have been made to the protocol to reduce Ethereum gas fees and inflation. These changes require a migration from current mining pools to new ones. Most of this will either be done for you, or a tool will be provided. Details follow.Nodes as a Service Since the launch of the StrongBlock DeFi node protocol, over 350 nodes have been registered for rewards by the user community. Internally, we have been calling this “Bring your own Nodes” (ByoN). We applaud this effort, especially because it is quite difficult to create your own Ethereum node. For those unable to accomplish this, there has been some node-envy: many people have expressed to us that they want to create a node, but it’s beyond their technical capabilities. To address this, we had always planned to create an easy to use NaaS offering as part of our roadmap. Its release was delayed due to our need to focus on reducing inflation and gas fees in the first two releases of the smart contracts that run the protocol. Today we are introducing our NaaS, allowing ANYONE to create an Ethereum 1.0 full node (with Ethererum 2.0, bitcoin and others in the future) in just a few minutes, by simply providing a name...
StrongBlock Tokenomics V2
StrongBlock is pleased to present the details of its STRONG governance token allocation and Tokenomics for Version 2 (V2) of the protocol. This new approach includes burning 94% of the original 10,000,000 minted STRONG by December 1, 2020, leaving a maximum supply of approximately 535,000 STRONG. — Token Overview. — Name: StrongSymbol: STRONGType: ERC-20Decimals: 18Token Contract Address: https://etherscan.io/address/0x990f341946a3fdb507ae7e52d17851b87168017cMax supply: 528,886 (approximate 94% burn of 10,000,000 minted STRONG by 12/1/2020)Current Circulating Supply: 156,592Inflation possible? NoDeflation possible? Yes, but not within the smart contract. Instead, burned tokens are sent to the 00Dead wallet address.Current circulation information: https://www.coingecko.com/en/coins/strong Background StrongBlock is a blockchain protocol designed to reward and reinforce the world’s expanding blockchain infrastructure. The protocol changes the way blockchain networks reward the nodes that secure them. The STRONG governance token is used to reward node operators running on Ethereum and other supported blockchain protocols. After considerable community input after the release of V1, the V2 release is a new beginning for STRONG. V2 enhances the flexibility of the protocol to support the mission of strengthening blockchains, while also expanding benefits to the blockchain community through the coming years. V2 STRONG...
StrongBlock DeFi V2 Released
We are pleased to announce the release of StrongBlock DeFi V2. The protocol will continue to be governed by the STRONG token. Released just 3 weeks after V1, V2 brings agility and flexibility to the protocol. V2 is the foundation on which features can be easily added via governance and community input.V2: A New Approach DeFi with a Purpose — supporting blockchains by rewarding blockchain nodes with the STRONG governance token — is still the protocol’s core mission. To increase community support for that mission, V2’s new approach significantly reduces inflation, adds deflation, and better aligns rewards. It also makes key changes the community has requested. Phase 1 V2 is Phase 1 of a rapid, multi-phase movement toward eliminating STRONG inflation, growing the community, and strengthening the value proposition for those actively taking part in the community. Phase 2 will include significant changes to tokenomics, a greater emphasis on governance, a reduction of STRONG emissions, growth of the value proposition, and a major expansion of the StrongBlock ecosystem. We will be releasing a roadmap in November regarding future phases and major milestones to come.What’s New in V2 The best way to find out what has changed in V2 is to go to the App itself. Here are some highlights of what’s new in V2. Same App, same UI, same URL, easy migration from V1 to V2V2 now rewards miners based on providing liquidity an...
More StrongBlock (#STRONG) News
|Stellar (XLM) Shows Strong Recovery From Recent Slide
Stellar (XLM) has seen a stunning turnaround after the recent market downturn. However, following the announcement of the CPI report and corresponding fears of an interest rate hike, a sell-off ensued.
The Donchian channel indicates that the average price of XLM is $0.1076 as of this writing. After a drop, the Awesome Indicator also gives off very strong bullish signs.
This could signal a rebound. The XLM market has showed a spectacular recovery from the September 13 catastrophe, with prices climbing back above the $0.1004 support line that sustained the downturn from August 14 to September 6.
At the 4-hour time mark, the coin is following an uptrend. Looking at the wider picture, however, we see that the upturn may be short-lived.
Stellar Rally Gives Investors Some Confidence
The XLM token closely tracks Bitcoin's price movements because the whole cryptocurrency market is modeled after it. The downward pressure of the triangle indicates that the coin's motion is heading in a downward direction.
Price levels of support and resistance were calculated using the Fibonacci retracement tool. The bulls are attempting to leverage two supports located at $0.1023 and $0.1058.
These two factors have bolstered traders' and investors' optimism, which has contributed to the price increase.
The range of $0.1153 represents the resistance level. If price momentum overcomes this resistance, the price might rise to the $0.1234 region. This can be a strong purchase signal for investors and tra...
|Chainlink Remain Strong As Alligator Flashes Relief, Is $10 Possible?
After showing so much strength as the price rallied to $52, cracking up an all-time high, the price of Chainlink (LINK) saw a decline to its present value of $7 against tether (USDT). Despite the uncertainties about where the market would be headed, only a few have shown strength as Chainlink (LINK) remains in the spotlight. (Data from Binance)
Chainlink (LINK) Token Price Analysis On The Weekly Chart
LINK saw a decline in its price from its all-time high of $52 to around $6, with an over 70% drop from its all-time high despite having good fundamentals. The price of LINK has since struggled to have a relief bounce from its weekly low.
The price of LINK bounced off after touching a weekly low of $6, and the price rallied to $10 before suffering a setback in price as it faced rejection, and the price has continued to range in this region.
LINK's price maintained a downtrend structure with a downtrend line acting as resistance for the price of LINK, but this resistance has been broken with what seems to be a glimpse of hope, possibly to the upside of the price.
The price of LINK continues to face resistance to break higher at around $8, a break and close for LINK price in the region of $8-$9 acting as resistance; we could see the price of LINK rally to a high of $10-$12.
If LINK fails to break above these resistances, we could see the price retesting the support at $6, acting as a demand zone for LINK prices.
Weekly resistance for the price of LINK - $8-$9.
|Bitcoin Price Has Strong Potential To Hit $25,000, Weekly Analysis Sugge...
Recently, the market has seen a strong correction due to the Bitcoin price bull run of the past several days. On December 7, 2020, the price hit a low of $19,030.09, which is considered to be a new all-time low.
However, the appearance of a double bottom pattern has led to an optimistic outlook on this correction.
Bitcoin can rebound, as is now more evident. Obviously, there will be some challenges along the way. The Bitcoin price present momentum is one of the cryptocurrency's major challenges.
The current momentum is merely reversing the past downward trends, thus it may not be enough to break through the $25,000 price level, according to latest analyses.
Bitcoin Price: The Familiar Resistance Level
Bitcoin's price actually did reach $25,000 in late August, which is a significant milestone. Such a pattern indicates that the current market has the potential to and likely will attempt to break through resistance.
Looking at the range during the past four hours, it appears that BTC will be trading between $19,226 and $24,286 for the time being.
This challenge is attributable to the traders' pessimism in response to the most recent CPI report. The survey revealed an annual inflation rate of more than 8 percent.
This bleak assessment could be followed by a 1% increase in interest rates. Therefore, the bulls must maintain their position inside the range of $19,226 to create momentum.
The prominent oscillator indicator has shown a bullish advance. In contr...
|Bitcoin's Mining Difficulty Taps All-Time High — 220 Exahash of Ha...
Bitcoin's mining difficulty reached a new all-time high at block height 753,984 from 30.97 trillion hashes to 32.05 trillion hashes. After two difficulty increases during the past month, the network's mining difficulty jumped another 3.45% higher on September 13. Bitcoin's Difficulty Reaches 32 Trillion
The leading cryptocurrency by market capitalization, bitcoin (BTC), is now a lot more difficult to mine. In fact, on Tuesday, September 13, 2022, the network difficulty tapped an all-time high at 32.05 trillion. Roughly two weeks or 2,016 blocks ago, the difficulty printed the second-largest increase in 2022 as it increased by 9.26%.
Two weeks or 2,016 blocks before the last change, the difficulty jumped slightly by 0.63%. Following the increase today, at block height 753,984, it has never been more difficult to find a bitcoin (BTC) block reward. Furthermore, BTC's U.S. dollar value dropped over 9% on Tuesday afternoon (ET), following the recently published U.S. CPI report.
Despite the price drop and recent difficulty rise, BTC's hashrate has remained above the 200 exahash per second (EH/s) range and at the time of writing, it's running at 227.07 EH/s. During the past 24 hours, Foundry USA has been the network's top pool with 26.85% of the global hashrate.
Foundry is followed by F2pool with 15.4% of BTC's hashpower, and Binance Pool with 14.77% of the global hashrate. Binance Pool is followed by Antpool (13.42%) and Viabtc (10.74%) respectively. 149 blocks we...
|TA: Bitcoin Price Holds Strong, Why ETH Could Push BTC Higher
Bitcoin is consolidating above the $19,500 support against the US Dollar. BTC could start a major increase considering the recent rise in ether.
Bitcoin is still trading in range near the $20,000 zone and below the $20,500 resistance. The price is now trading below the $20,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase unless there is a clear move below the $19,600 and $19,500 levels. Bitcoin Price Eyes Fresh Increase
Bitcoin price remained in a range below the $20,500 and $20,550 resistance levels. Recently, BTC formed a support base above the $19,600 level and started an upside correction.
There was a move above the $19,800 resistance level and the 100 hourly simple moving average. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.
Finally, there was a spike above the $20,000 resistance. However, the bears were active near the $20,100 zone. Bitcoin price failed to clear the 61.8% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.
It is now trading below the $20,000 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an i...
|Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?
The price of Lido DAO (LDO) has shown so much strength despite the downtrend across the market, with Lido DAO (LDO) eyeing a rally to its all-time high of $4. Bitcoin's (BTC) price has shown a little strength bouncing off from key support, leading to most crypto assets popping out from their shell. (Data from Binance)
Lido DAO (LDO) Price Analysis On The Daily Chart
LDO token price has shown so much strength creating a higher high after hitting a daily low of $1.6; the price bounced off from this region and rallied to $2.
The price of LDO rallied to a high of $2.2 but has faced resistance; LDO needs to break this resistance at $2.2 to have a chance of trading higher.
LDO price has continued to show so much strength as bulls are ready to push the price of LDO to higher heights.
The price of LDO is currently trading above its support at $1.9, with eyes set for more highs.
Daily resistance for the price of LDO - $2.2-$2.4.
Daily support for the price of LDO - $1.9.
Price Analysis Of LDO On The Four-Hourly (4H) Chart
Four-Hourly LDO Price Chart | Source: LDOUSDT On Tradingview.com
After falling from a high of $4, the price of LDO on the four-hourly timeframe has formed support at $1.6, holding the price of LDO from going lower as this has become an area of demand for LDO price.
The price of LDO formed a bullish symmetrical triangle before breaking out with good volume, and the price continued to rally after a successful breakout.
LDO trades at $2.2 above ...
|TA: Ethereum Just Saw Key Technical Correction, But 100 SMA Is Still Str...
Ethereum failed to stay above the $1,600 resistance against the US Dollar. ETH is correcting lower and must stay above $1,540 to continue higher.
Ethereum failed to clear the $1,620 and $1,625 resistance levels. The price is now trading near $1,550 and the 100 hourly simple moving average. There is a major rising channel forming with support near $1,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it stays above the $1,540 and $1,500 support levels. Ethereum Price Remains Supported
Ethereum attempted an upside break above the $1,620 level, but struggled. The bears were active near the $1,620 zone and the price started a downside correction.
A high was formed near $1,619 before the price corrected lower. There was a drop below the $1,560 level and the 100 hourly simple moving average. However, the bulls were active near the $1,530 and $1,525 levels. A low was formed near $1,530 and the price is now consolidating.
There was a move above $1,550 and the 100 hourly simple moving average. The price climbed above the 50% Fib retracement level of the recent decline from the $1,619 swing high to $1,530 low.
It is now consolidating near $1,550 and the 100 hourly simple moving average. There is also a major rising channel forming with support near $1,540 on the hourly chart of ETH/USD. It is facing resistance near the $1,580 and $1,585 levels.
The 61.8% Fib retracement level of the recent decline from the $1,619 swing high to $1,530 lo...
|Cardano Price At $0.44 With Strong Support, What's Next?
Cardano price registered bearishness as it declined from the $0.48 level at the time of writing. Over the last 24 hours, the coin fell by over 2%. In the past week, it declined by 12%. Bitcoin's move to the $20,000 had led to other altcoins falling on their charts as well. ADA was managing to appreciate slowly however, the bulls could not sustain the price momentum at the time of writing.
The altcoin had managed to trade near the $0.48 price level but it was met with selling pressure as it could not move above the $0.49 resistance mark. The technical outlook for the coin shifted towards bearishness as soon as the coin touched the $0.44 price level.
The immediate support for ADA was at $0.43. Sellers had taken over the market at the time of writing. The coin recently broke below the support line of $0.44, it had managed to trade above that level for a significant period of time. Lack of demand has caused Cardano price to further lose value. The global cryptocurrency market cap today is $1.05 Trillion after a 4.4% negative change in the last 24 hours.
Cardano Price Analysis: Four-Hour Chart
Cardano was priced at $0.44 on the four-hour chart | Source: ADAUSD on TradingView
ADA was trading for $0.44 at the time of writing. There has been a sharp decline in the price of the altcoin after it revisited the $0.48 level. The support level for the coin stood at $0.42 and a fall below that could cause ADA to trade at $0.38.
Overhead resistance for the coin stood at $0.49. If the buying ...
|Cardano (ADA) Reclaims Strong Buy Territory – Here's How
Cardano (ADA) was enjoying the uptrend last month. Following the price rally that insinuated a rise in the entire crypto market, crypto prices have nosedived again in the past week.
ADA prices reaches buy zone
Cardano lost 18% the past week
ADA price drops 2.88% as of press time
After the formation of that uptrend that drove the entire cryptocurrency market higher, prices crashed heavily in the past week. On average, the crypto market shaved off around 12% in the past week.
Cardano lost roughly 18% and shoved ADA prices to the buy zone. So, is it advisable to buy the dip at this point? Or should buyers wait a little bit more for a price jump?
According to CoinMarketCap, ADA price has dropped by 2.88% or trading at $0.4505 as of this writing.
The 'Ethereum Killer'
Dubbed the 'Ethereum Killer,' Cardano (ADA) is a public and decentralized DApps and Smart Contract blockchain that was launched in 2017 to be bigger and better than Ethereum.
It uses the Proof-of-Stake algorithm which is considerably more energy-efficient than what Ethereum is equipped with.
Considering the many lapses or shortcomings that Ethereum has such as its sluggishness and expensive gas fees, Cardano is said to set the benchmark for pivotal upgrades using modern technology.
With Cardano’s “Alonzo” upgrade, the network has grown in 2021 to be more secure, scalable, technically advanced, and resilient.
Cardano (ADA) To Breach $0.50 Level? The crypto market suffered a tremendous slump...
|TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect...
The price of Trezor (TRB) in the last few days has continued to look strong against Tether (USDT). Bitcoin (BTC), Ethereum (ETH), and other altcoins have struggled to hold above their key support zones after the market turned bearish. The price of Trezor (TRB) has continued to maintain its bullish structure.
|Shiba Inu Trends Upwards Through Strong Whale Accumulations
This year's crypto winter has created one of the most devastating effects in the crypto space in history. But there appears to be a resettling phase for the industry with the recent outplay of events. Moreover, following the special report of the CPI for July and other factors, the crypto space is seeing an encouraging relief and hope.
The crypto space is making a positive impact as the performance of some cryptocurrencies takes a gradual up climb. Among the outstanding performing crypto assets is the meme coin, Shiba Inu (SHIB).
The coin has not just staged its comeback but has taken a higher banner with its price rally. The price of Shiba Inu has gained significant value within the past 24 hours. The upward climb has the SHIB hitting $0.00001766 in its intraday trading performance.
SHIB has gained more momentum l Source: SHIBUSDT on TradingView.com
This excellent price stance from SHIB has gradually taken the token to the top in the past few days. The trend is supported by the massive and substantial accumulation of some prominent whales for the assets.
Saantiment, an on-chain data analytics firm, provides reports on the progressive advancement of Shiba Inu. It revealed that the meme coin has been skyrocketing during the weekend. Its movement led to amassing up to 34% in value within the past 24 hours despite some tokens still maintaining a flat trend.
Santiment explained that the SHIB price rally is linked to the backing from substantial whale accumulations of the coins. ...
|TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout
The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins.
Bitcoin's (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a relief rally but was faced with resistance to breakout. Despite the shake-out, the price of the Binance coin remained strong. (Data feeds from Binance)
Price Analysis Of BNB On The Weekly Chart
Weekly BNB Price Chart | Source: BNBUSDT On Tradingview.com
From the chart, the price of BNB saw a weekly low of around $210, which bounced from that area and rallied to a price of $330.
The price has built more momentum as it faces resistance at $336.
If the price of BMB on the weekly chart continues with this bullish structure, it could quickly revisit $450.
Weekly resistance for the price of BNB - $336.
Weekly support for the price of BNB - $300, 210.
Price Analysis Of BNB On The Daily (1D) Chart
Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com
The price of BNB found strong support at around $270, with what seems to be an area of interest on the daily chart.
BNB bounced from its support, forming a trendline as it faces resistance to break above $336.
At the point of writing, the price of BNB is at $333, trying to break the resistance at the $336 area.
If the price of BNB breaks above the $336 resistance wit...
|TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K
Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730.
Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is a close above the $20,580 level. Bitcoin Price Aims Fresh Increase
Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone.
There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average.
There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low.
Source: BTCUSD on TradingView.com
On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resistance zone could open the doors for a strong incre...
|Polkadot Under Strong Bearish Influence , Will The Nearest Support Level...
Polkadot continues to face downtrend on its chart as broader market strength also remained low. Over the last 24 hours, DOT lost close to 8% of its market value invalidating weekly gains that DOT secured. Technical outlook for the coin indicated bearish price action.
In accordance with the same, it is likely that the coin might not be able to hold itself above the $6 support level. The coin has been witnessing stiff resistance at the $7.20 mark. Only if the coin manages to trade above $7.20 for a considerable period of time, the bulls could be back.
On the developmental front, Polkadot is introducing a new on chain governance model. Gavin Wood, Polkadot founder announced about the on chain governance model as a part of the Polkadot Decoded 2022 conference.
The primary goal of this new governance model is to ramp up the number of collective decisions the governance structure is able to make. The newest development is yet to have any positive effect on the price of the altcoin.
Polkadot Price Analysis: One Day Chart
Polkadot was priced at $6.70 on the one day chart | Source: DOTUSD on TradingView
DOT was trading at $6.76 at the time of writing. The nearest support line for the coin is at $6. The sellers have taken over so the coin can soon slip below the aforementioned price level.
Fall below the $6 support level will make DOT hit a new low this year, the coin might trade near the $4.20 support line. Overhead resistance stood at $7.20, the coin has struggled to move past that ...
|Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower, as Both Run Into S...
Bitcoin remained close to a ten-day high on Monday, as prices consolidated following gains from the weekend. Although ETH was lower to start the week, it was also able to remain close to Sunday's peak around the $1,280 level.
BTC was consolidating during today's trading session, as bulls appear to have secured some profits following recent gains.
Coming from the back of a high at $21,783.72 on Sunday, BTC/USD rose to an intraday low of $20,965.11 on Monday.
This decline sees bitcoin start the week trading almost 2% lower, however still close to recent highs, as some bullish sentiment still remains.
In terms of upwards sentiment, this can be seen in today's action, with prices bouncing back from earlier lows, and as of writing they sit at $21,261.87.
As outlined during the weekend, one of the hurdles that could have prevented BTC from further gains was that of the 36.45 ceiling on the RSI, and this has turned out to be the case.
Looking at the chart, today's fall comes as price strength was unable to break out of this point, and as of writing the indicator is tracking at 36.
There was a similar story for ethereum in today's session, as price slipped, whilst also remaining close to recent highs.
ETH/USD dropped to an intraday low slightly below $1,200, at $1,199.41, however as the session progressed, ethereum managed to regain some momentum.
As of writing, ETH is now trading at $1,217.17, which is roughly 3.17% lower than yesterday's peak at $1,272.13.
|Ripple Says That It's in Strong Position to Continue Growing
In a recent tweet, Ripple CEO Brad Garlinghouse has reiterated that his company’s financial position is strong enough to continue hiring “hundreds” of new employees around the globe.
As reported by U.Today, Garlinghouse said that he was bullish on crypto in the long-term in spite of the severe market correction.
The Ripple boss said that his company had managed to secure a “significant” cash balance, which will make it possible to keep expanding its staff even during the current bear market.
Meanwhile, some cryptocurrency companies, such as BlockFi and Gemini, have dramatically reduced their headcount due to the market downturn. On Wednesday, Bloomberg reported that Coinbase employees were caught off guard by the company’s decision to reduce its staff by 18%.
“The kind of culture you’re looking for”
Garlinghouse also seemingly took a veiled jab at Kraken CEO Jesse Powell in his tweet by highlighting that his company has a “no assholes” policy.
Powell stirred controversy after calling his employees “triggered” and reportedly banning them from calling anyone “hateful” or “racist.” The head of one of the top cryptocurrency exchanges was also accused of making misogynistic remarks about women.
Kraken’s “anti-woke” policy was covered by The New York Times in a recent report, which Powell slammed as “a hit piece.”
Earlier this Ju...
|Bank of America: Consumer Interest in Crypto Remains Strong
Bank of America's new report explains that 'despite the sharp correction in crypto valuations, consumer interest in the sector remains strong.' The report, which includes the bank's new crypto survey, also shows 'growing interest' in cryptocurrency's use as a means of payment.
Bank of America's Inaugural Crypto Survey
Bank of America Global Research published a report Monday highlighting the results of its 'inaugural crypto/digital asset survey,' which took place early this month.
Out of 1,013 survey respondents who identified themselves as current or prospective crypto/digital asset investors, 58% said they currently own crypto or digital assets. The other 42% said they do not own crypto presently but plan to buy some in the next six months.
In the report, which Bank of America shared with Bitcoin.com News, the research team wrote:
Overall, our findings suggest that despite the sharp correction in crypto valuations, consumer interest in the sector remains strong.
According to the survey results, '91% of respondents expect to buy crypto / digital assets in the next 6 months, the same percentage who said they bought in the last 6 months,' the report details.
Furthermore, 30% of respondents indicated that they do not plan to sell any of their crypto holdings over the next six months.
The survey also shows 'growing interest' in crypto's use as a payment method. 'Interestingly, 39% and 34% of respondents reported using crypto / digital assets as a payment method to make online or...
|Kim Dotcom on the 'Great Reset,' Strong Russian Ruble Puzzle...
This week, entrepreneur and activist Kim Dotcom said the 'U.S. is beyond bankrupt,' and minced no words about a potential 'controlled demolition of global markets.' Meanwhile, American economists are interested in the ruble's strong performance in spite of sanctions against Russia, a new book emerges claiming to tell the 'Real Story Behind Mysterious Bitcoin Creator Satoshi Nakamoto,' and LUNA 2.0 drops in value from last week, while accusations against Do Kwon continue. Without further ado, this is your bite-sized digest of this week's hottest crypto stories from Bitcoin.com News.
Kim Dotcom Says 'US Is Beyond Bankrupt,' Digital Entrepreneur Predicts a 'Controlled Demolition of Global Markets'
On June 5, 2022, the entrepreneur and activist known as Kim Dotcom published a post on Twitter and said it 'may be the most important thread' he ever makes concerning a major global collapse. In the thread, Dotcom specifically highlights the American economy and he claims the 'U.S. is beyond bankrupt.' Dotcom also talked about the 'Great Reset' topic and how a 'New World Order' aims to 'shift into a new dystopian future where the elites are the masters of the slaves without the cosmetics of democracy.'
American Economists Are Baffled by an 'Unusual Situation' as Russia's Ruble Is the World's Best Performing Fiat Currency
Two months after the Russian ruble fell below a U.S. penny, the transcontinental country's fiat currency is the best performing currency worldwide. America...
|TA: Ethereum Eyes Strong Reversal, Why Dips Could Be Limited
Ethereum is showing positive signs above $1,720 against the US Dollar. ETH could start a strong increase if there is a clear move above the $1,850 resistance.
Ethereum remained well supported above the $1,720 support zone. The price is now trading below $1,820 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a strong increase if there is a clear move above the $1,850 resistance zone. Ethereum Price Holds Support
Ethereum remained well supported above the $1,720 support zone. A base was formed near $1,725 and there was a fresh increase.
The price spiked above the $1,800 resistance level and the 100 hourly simple moving average. However, the price struggled to gain pace above the $1,850 level. A high was formed near $1,875 and the price corrected gains. It is now consolidating above the $1,770 level.
The recent low was formed near $1,753 before the price climbed above $1,780. Ether price is now trading below $1,820 and the 100 hourly simple moving average.
On the upside, an initial resistance is near the $1,810 level. There is also a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent decline from the $1,875 swing high to $1,753 low.
Source: ETHUSD on TradingView.com
The next major resistance is near the $1,830 level. It is nea...
|Tether CTO Says, USDT-Dollar Remains Strong Amid Stablecoin Crises
The LUNA/UST affair has caused discrepancies in the BTC-stablecoin trading pairs on different global cryptocurrency exchanges. He points out they've maintained stability through multiple black swan shifters and highly volatile markets, never refusing redemptions with them either.
Tether continues to process redemptions normally amid some expected market panic following yesterday’s market. In spite of that, Tether has not and will not refuse redemptions to any of its customers, which has always been its practice.
Differences Between USDT And Algorithmic Stablecoins
When the market is uncertain, it can be hard to make decisions. Ardoino offered perspective about the technical differences between USDT and algorithmic stablecoins, which may have helped reduce some of the market's fear, uncertainty, and doubt.
Unlike these algorithmic stablecoins, Tether holds a strong, conservative and liquid portfolio that consists of cash & cash equivalents, such as short-term treasury bills, money market funds and commercial paper holdings from A-2 and above rated issuers.
Ardoino believes that stablecoins will continue to be a vital cog in the cryptocurrency space, despite the Terra (LUNA)/UST situation causing some people to lose confidence in their ability to redeem token swaps for their $1.00 peg.
He said that he does not think people have lost trust in centralized stablecoins. On the contrary, he believes that people will always use them because they offer a wa...
|Strong US Dollar Posts 5-Week High, Markets Price in a 75 bps Fed Rate H...
While precious metals, stocks, and cryptocurrencies saw a significant downturn this week, the U.S. dollar tapped a 20-year high against the Japanese yen and a number of other currencies. The greenback has seen five weeks of consecutive gains following the Federal Reserve's 50 basis point rate hike on Wednesday.Greenback Climbs Higher Amid Economic Uncertainty
Before the U.S. central bank's rate hike, the U.S. dollar tapped a two-year high and a 20-year high against the Japanese yen last week. Economic concerns are tied to the ongoing and strict Covid-19 lockdowns in China and the Ukraine-Russia war. Reports note that Beijing may plan to mass-test 20 million people for Covid-19 and the Chinese capital could get locked down.
Moreover, Refinitiv data indicates the market is predicting a 90% chance the Fed will implement a 75 bps hike in June. A majority of financial institutions and market participants correctly predicted Wednesday's 50 bps increase. Futures markets are forecasting that the chance of a 75 bps hike taking place in June is around 75%.
Statistics show the U.S. dollar index (DXY) reached a 20-year high against a basket of international fiat currencies this past week. Besides the 20-year high against the yen, sterling saw the deepest impact against the greenback. Kit Juckes, a currency strategist at Societe Generale SA, says the U.S. dollar has a knock-on impact.
'The dollar's rally is like an uphill avalanche,' Juckes said on May 4. 'Just as an avalanche picks up s...
|TA: Ethereum Could Stage Strong Rally If It Clears This Key Resistance
Ethereum gained pace above the $3,080 resistance against the US Dollar. ETH price could continue higher if there is a clear move above the $3,150 resistance.
Ethereum remained well bid and climbed above the $3,080 and $3,100 levels. The price is now trading above $3,080 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $3,130 and $3,180 to start another increase in the near term. Ethereum Price Remains Supported
Ethereum remained well bid and extended increase above the $3,080 resistance. ETH even broke the $3,130 resistance zone and settled above the 100 hourly simple moving average.
It even spiked towards the $3,180 level and traded as high as $3,172. Recently, there was a downside correction below the $3,130 level. Ether price corrected below the 23.6% Fib retracement level of the upward move from the $2,880 swing low to $3,172 high.
The price tested the $3,050 support zone and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $3,080 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
On the upside, an initial resistance is seen near the $3,130 level. The next major resistance is near the $3,170 and $3,180 levels. A close above the $3,180 level might start a strong upward move in the near term. In the stated case, ether might rise towards the $3,250 level. The next major re...
|TA: Why Bitcoin Price Could Eye Strong Recovery Above $41.5K
Bitcoin is correcting losses and trading above $41,000 against the US Dollar. BTC could gain bullish momentum above $41,350 and $41,500.
Bitcoin remained well bid above $39,250 and started a fresh increase. The price is now trading above $41,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $40,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain pace if there is a clear move above the $41,500 resistance zone. Bitcoin Price Eyes Upside Break
Bitcoin price remained well bid above the $39,250 support zone. BTC formed a base and started a fresh increase above the $40,000 resistance zone.
The bulls gained strength and were able to push the price above $40,500. There was a move above the 23.6% Fib retracement level of the main drop from the $43,415 swing high from the $39,240 low. Besides, there was a break above a connecting bearish trend line with resistance near $40,000 on the hourly chart of the BTC/USD pair.
The pair even broke the $41,000 resistance zone and settled above the 100 hourly simple moving average. An immediate resistance on the upside is near the $41,350 level.
The 50% Fib retracement level of the main drop from the $43,415 swing high from the $39,240 low is also near the $41,350 zone. The next key resistance could be $41,500. If the bulls able to clear the $41,350 and $41,500 resistance levels, the price could accelerate higher.
Source: BTCUSD on Tradin...
|Upland Metaverse Continues to Expand With New Features Following Strong ...
A new development on Upland will allow you to build your own business in the metaverse, earning tokens and becoming a real entrepreneur. NFT cars are also on the way to join the platform, bringing brand new ways to enjoy the Play-to-Earn experience such as street racing.There's never been a better time to join the metaverse: use this link to claim a doubled 6,000 UPX signup bonus.
Upland Economy Achieves Strong Performance
Upland is an NFT metaverse mapped to the real world, where players can buy, sell, and trade digital properties using the in-game token UPX. It operates on the Play-to-Earn gaming model, and is available on iOS, Android and the Web. The metaverse reached a number of impressive figures recently, showcasing the strength of its economy.
Since 2021 the number of property owners in Upland reached 252,594 and players have earned over $2.8 million USD. The number of minted NFT assets besides properties (such as explorers, NFLPA legits, Spirit legits, and structure ornament NFTs) reached 905,831 in total, including 20,077 unique NFTs. And the number of properties minted in-game is at 2,883,723.
35,819,364,000 UPX has been purchased during this time as well. And the average daily transaction volume was 107,316,000 UPX.
The Upland property market is also very active, with 5,962 mints per day on the primary market and 6,701 trades per day in secondary market sales. In total there were 2,635,225 transactions in the primary market and 1,983,560 in secondary market sales....
|Bitcoin is a Super Strong Investment, Says Tennis Champion Serena Willia...
One of the most successful tennis players of all time – Serena Williams – teamed up with Block Inc’s money transfer service provider – Cash App – to provide women and people of color with further financial access to bitcoin. She praised the primary cryptocurrency as the leader in the industry, calling it a ”super-strong investment.”
Williams is a Bitcoin Bull
The Jack Dorsey-led firm – Block – announced the collaboration with the tennis superstar at the Miami Bitcoin Conference. Williams raised hopes that the initiative will grant women (who are not as engaged with the crypto industry as men) and people of color additional access to bitcoin opportunities:
“It’s important to expand bitcoin to women and people of color.”
In addition, the American athlete displayed herself as a keen proponent of the primary digital asset. The 23-times Grand Slam winner said BTC’s limited supply of 21 million coins is its most valuable merit. In her view, the world of crypto is constantly developing, but this advancement is mainly led by bitcoin:
“What’s interesting in bitcoin is there is not going to be a ton available. I like looking at it like that and deciding: Okay, that is a super-strong investment in terms of all cryptocurrencies. There’s a lot happening in the cryptocurrency world and obviously, I think it’s all being led by bitcoin.”
Serena Williams. Source: Yahoo
It is worth notin...
|TA: Bitcoin Gains Momentum, Indicators Point Strong Move To $45K
Bitcoin started a fresh increase above the $43,500 resistance against the US Dollar. BTC is showing positive signs and might even surge above $45,000.
Bitcoin started a fresh increase after it broke the $43,500 resistance zone. The price is trading above $43,500 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $43,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise and might even clear the $45,000 resistance zone. Bitcoin Price Remains Supported
Bitcoin price remained well bid above the $42,500 zone. BTC formed a base and started a fresh increase above the $43,000 resistance zone.
The upward move was such that the bulls were able to pump the price above the $43,500 resistance zone. It even cleared the $44,000 level and settled above the 100 hourly simple moving average. A high was formed near $44,381 and the price is now consolidating gains.
It is trading near the 23.6% Fib retracement level of the recent rise from the $42,637 swing low to $44,381 high. However, it is well above $43,500 and the 100 hourly simple moving average.
Besides, there is a major bullish trend line forming with support near $42,300 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $44,300 level. The next major resistance could be near the $44,500 zone.
Source: BTCUSD on TradingView.com
If the bulls remain in action, bitcoin price might even rise towar...
|TA: Ethereum Primed For Strong Recovery And Only 1 Thing is Holding it B...
Ethereum is attempting a recovery wave from the $2,500 support against the US Dollar. ETH price must clear $2,700 and $2,750 to start a strong recovery wave.
Ethereum found support near $2,500 and started an upside correction. The price is now trading below $2,700 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,690 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong recovery wave if it clears the $2,700 and $2,700 resistance levels. Ethereum Price Faces Resistance
Ethereum extended decline below the $2,550 level and tested the $2,500 zone. ETH formed a base above $2,500 and recently started an upside correction.
There was a move above the $2,580 and $2,600 resistance levels. Ether even climbed above the 50% Fib retracement level of the key decline from the $2,750 swing high to $2,503 low. However, it is still trading below $2,700 and the 100 hourly simple moving average.
An immediate resistance on the upside is near the $2,660 level. It is near the 61.8% Fib retracement level of the key decline from the $2,750 swing high to $2,503 low.
The main resistance is now forming near the $2,700 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,690 on the hourly chart of ETH/USD. A clear move above the $2,700 might start a steady increase.
Source: ETHUSD on TradingView.com
The next major resistance could be $2,750, above...
|TA: Ethereum Holds Strong At $2.5K: Indicators Show Fresh Increase
Ethereum is holding the $2,500 support zone against the US Dollar. ETH price could rise towards the $2,750 level unless there is a move below $2,450.
Ethereum managed to stay above the $2,480 and $2,500 support levels. The price is still trading below $2,550 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,550 and $2,600. Ethereum Price Holds Support
Ethereum attempted an upside break above the $2,640 and $2,650 resistance levels. ETH struggled to clear the $2,650 zone and started a downside correction.
There was a break below the $2,500 support zone and the 100 hourly simple moving average. Ether price even declined below the 23.6% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high.
However, the bulls are now protecting the $2,500 support level. Besides, there is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD. It is consolidating, but it is still trading below $2,550 and the 100 hourly simple moving average.
An immediate resistance on the upside is near the $2,540 level and the 100 hourly simple moving average. The first major resistance is near the $2,560 level. A clear move above the $2,560 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,600 level.
Source: ETHUSD on ...
|Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up
On-chain data shows Bitcoin miner reserve has showed a sharp spike recently, suggesting that miners are currently loading up on the crypto. Bitcoin Miner Reserve Shoots Up; Trend Of Accumulation From Last Year Continues As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve has shown strong uptrend recently. This seems to be a continuation of the accumulation trend from the last year. The 'miner reserve' is an indicator that tells us the total amount of Bitcoin currently stored in the wallets of miners. When the trend in the metric is towards up, it means miner inventories are growing as they stock up on more of the coin. Such a trend can be bullish for the price of the coin as it shows miners are currently accumulating BTC. On the other hand, a downtrend in the indicator implies miners have started to dump their Bitcoin. This kind of trend is naturally bearish for the price of the crypto as miners usually sell in big amounts. A few days back, when the price of Bitcoin dropped down to $39k, the metric showed a huge spike up as miners bought the dip. However, as BTC's price has risen, and their machines have gotten more advanced and efficient, miners have started selling lesser as it's enough to sustain electricity and other mining costs. Miners, who have originally always brought selling pressure to the market, have been shifting towards becoming hodlers for a coupe of years now. This can be quite bullish for the price of the coin in the long term. BTC Pric...