Markets

Ethereum price is struggling to recover above the $1,600 resistance against the US Dollar. ETH price is now trading below $1,600 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1,620 the 4-hours chart (data feed from Coinbase). The pair could recover, but it is likely to face sellers near the $1,600 resistance zone. Ethereum price is declining below $1,600 against the US Dollar. ETH/USD remains at a risk of...

A new report has surfaced from the Wall Street Journal, outlining insider communications between members of Binance and Binance US. Additionally, the messages discuss how best to deal with regulatory oversight, which is a major point of interest for any business eager to do business in the United States. However, the report hints that Binance’s early days may have been fraught with the issues typical of dotcom startups. Less Compartmentalized Than Previously Believed...

Following an extended period of uncertainty and consolidation, XRP has approached the narrow range of its multi-month triangle. The mid-term outlook of XRP will be determined by a breakout from this triangle, while the current price action suggests a bearish trend. Technical Analysis By Shayan The Daily Chart On the daily timeframe, XRP has been forming a symmetrical triangle pattern and has now reached the narrow range of the triangle. However, the cryptocurrency was...

The cryptocurrency market has stalled in the past few days in a rather untypical fashion, but all that can change this week as there’re multiple major events and announcements coming from the world’s largest economy. It starts with US Fed Chair’s testimony to Congress and spreads to jobless claims as well as the unemployment rate. Powell to Testify The US central bank reversed its monetary policy after the COVID-19 pandemic began to fade away and started rising the interest...

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Stellar lumen price is showing bearish signs below the $0.085 resistance zone against the US Dollar. XLM price is now trading below $0.085 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.0840 on the 4-hours chart (data feed via Kraken). The pair could start another decline if there is a clear move below the $0.0820 support. Stellar lumen price is trading below $0.085 against the US Dollar, similar to bitcoin....

Ripple price started a fresh decline from the $0.3850 zone against the US dollar. The price is now trading below $0.3750 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3700 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it stays below the $0.3800 resistance zone. Ripple price is struggling below $0.3800 against the US Dollar, similar to bitcoin. XRP price...

Since being embroiled in a regulatory tussle, BUSD’s market cap went on a steep downward spiral. Since hitting an all-time high of $23.04 billion in November 2022, the market cap of the once-major stablecoin declined by more than 60% to $9.17 billion at the time of writing. The Paxos situation is indicative of the larger picture of crypto exchanges under assault from the United States Securities and Exchange Commission (SEC). Uncertainty is looming over the stablecoin...

Bitcoin tried to recover some of its recently lost value in the past 24 hours but was stopped in its tracks and is back down to $22,300. The altcoins are quite stagnant on a daily scale, with EOS losing all of its yesterday’s gains. Bitcoin Maintains $22K The low trading volumes of last weekend helped bitcoin remain around $23,000 for most of it. The start of the working week saw the asset pushing toward $24,000. In fact, BTC managed to tap that level once on Wednesday, but...