Markets

Cardano broke below major support as bears took over the market. Key Support levels: $0.38 Key Resistance levels: $0.46, $0.60  1. Key Support Lost ADA lost the support at 46 cents, which has now turned into a key resistance. This is why the price fell by 9% today. Considering the current momentum, the cryptocurrency may make new lows before a recovery can be expected. Chart by TradingView2. Sell Momentum Intensifies This most recent drop took place on increasing volume,...

TL;DR Cardano’s coin tops BTC and ETH in certain fields but faces a price decline. Market trends are bearish, yet experts stay optimistic about ADA’s future. According to market intelligence platform Santiment, Cardano’s ADA was the top cryptocurrency by development activity in the last 30 days. Polkadot (DOT) and Kusama (KSM) ranked second and third, respectively, while Ethereum (ETH) was placed tenth. Interestingly, Bitcoin (BTC) did not find a spot on the list. 🧑‍💻 Here...

ADA price is trading in a bearish zone below the $0.520 support zone against the US Dollar. The price is now trading below $0.515 and the 55 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near $0.4980 on the 4-hour chart (data feed via Coinbase). The price could continue to move down if it stays below the $0.500 resistance zone. Cardano price is struggling below $0.520 against the US Dollar, like Bitcoin. ADA...

Ethereum price started a downside correction from the $2,700 resistance against the US Dollar. ETH price is now trading below $2,550 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with support at $2,400 on the 4-hour chart (data feed from Coinbase). The pair could start a fresh increase if it clears the $2,400 resistance zone. Ethereum price is declining below $2,550 against the US Dollar. ETH/USD remains at a risk of more...

Chris J Terry, a crypto market analyst, has recently predicted that Bitcoin’s (BTC) price could either remain stagnant or decline until the $25 billion liquidation of GBTC is finalized. Mike Novogratz, the founder of Galaxy Digital, holds a different view. He argues that despite the anticipated GBTC sell-offs, most investors will shift their focus to alternative ETFs, leading to a rise in Bitcoin prices within six months. Analyst Warns of Bitcoin Price Dip BTCdata’s Chief...

TL;DR Shibarium sees a surge in transactions and wallet addresses. SHIB’s price drops, aligning with a general downturn in the cryptocurrency market. The Latest Achievement Shiba Inu’s layer-2 blockchain solution – Shibarium – made waves again, with total transactions surpassing 300 million. The achievement follows a successful month, during which the network witnessed daily transactions in the range of 1.2 – 7.8 million. Shibarium Daily Transactions, Source: ShibariumscanIn...

Bitcoin (BTC) fell under $40,000 on Monday for the first time since early December as a wave of ETF outflows pushed the asset into deeper waters. Over the past 24 hours, over $236 million in trades have been liquidated, including $208 million worth of longs. Bitcoin trades for $39,504 at writing time – a price last seen for the asset on December 2 2023. According to Coinglass, Over 90,000 traders have been liquidated in the last 24 hours. The largest liquidation took place on...

Crypto industry leaders are pillorying a new U.S. government report claiming that digital assets can help criminals flout federal sanctions law. In a blog post from the U.S. Government Accountability Office (GAO) last Tuesday, authors asserted that foreign states working against American interests – including Iran and North Korea – “are using digital assets to evade the impacts of those sanctions.” How Effective Is Crypto For Dodging Sanctions? The report said that digital...

Tether (USDT) reserve on Bitfinex has seen a significant increase owing to whales on the platform. According to CryptoQuant’s analysis, the whales on Bitfinex have opted to close their leveraged positions, leading to a substantial surge in the USDT reserve on the platform. This strategic move has garnered attention, shedding light on intriguing aspects of market behavior. Tether Reserves on Bitfinex Amid recent fluctuations in crypto prices, significant traders are choosing...

A market sell-off of Bitcoin (BTC) has pushed fear into the buoyant sentiment, deflating the mood. A BTC drop to $40,000 could see alts fall by 20-30%. Greyscale Bitcoin Trust sellers seem to be the main culprits. There is still plenty of sell pressure to be absorbed into the order books. The question is if up-and-coming projects like Galaxy Fox ($GFOX) can provide a safety net from the volatility. Bitcoin ($BTC): A Potential Drop To $40,000, Havoc For Altcoins A market-wide...