Meanwhile, the price has been stuck in a price range between $1.1K and $1.3K. Further consolidation in the mentioned range would be the most… Last month, the Solana ecosystem was at the forefront of the FTX saga, taking a significant hit from the company’s https://cryptoclubocc.com/south-korean-crypto-exchange-becomes-the-first-overseas-platform-legally-recognized-in-china/ bankruptcy filing. Since then, projects have left the network, while the native token lost a significant chunk of its USD… Ethereum is currently the largest proof-of-stake blockchain after its Merge and has over 491,000 validators securing the network.
- The dropping active supply that is key to Ethereum’s alt season narrative, has continued to decline and has hit a three year low.
- Finviz.comThe weekly bitcoin chart puts the recently forming descending triangle pattern into better perspective.
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- Finviz.comTo summarize, bitcoin and other major cryptocurrencies are likely experiencing a period of eerie calm before a storm.
As Avalanche’s price just touched a more subordinate trendline, we now hope the price to test the $23 resistance next. After the trend line is pushed again, things get more intriguing as Avalanche could be ready to break out. We at CryptoTicker anticipate a bearish breakout as the present market conditions are also bearish. But who knows, the new announcements and the recent activity could create a bull run.
Will Tron Reach $1 In The Long Run: TRX Coin Price Prediction
Currently, the price is consolidating gains with initial support around $143 and the 23.6% Fibonacci retracement level of the recent upward correction from $139 low to $145 high. Ethereum posted strong gains this week above the $135 resistance against the United States Dollar. On the other https://cryptoclubocc.com/ hand, both Ripple and Bitcoin began an upward surge in the past few sessions; and rallied beyond the $7,800 and $0.2150 respectively. Another suggested that the frenzy of launches this year demonstrated a long-term institutional confidence in the viability of the cryptocurrency ecosystem.
Whether it will break below the support or not is a different story. But considering the market conditions, it would not be surprising to see it breaking low. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
SOL/USD Daily Chart
In the stated case, the price could rise towards the $1,450 resistance zone. Any more gains might send the price towards the $1,500 resistance zone. If the price is to go lower, all bets would be off if the price were to go above the 100 day MA at $21268. With the price at $18664, the risk is somewhat high up to $21268. The digital currency has moved back down toward the June low at $17592.
Not an exciting weekend for cryptocurrency markets as most coins are down a few percent. Currently ETH is trading at $212.83, down from a high of $222 earlier in the week. Ethereum has been one of the best performing cryptocurrencies last week, gaining over 10% and $44 in the past week. Let’s take a look at some relevant Ethereum news and see what the charts have in store for us.
VAIOT Cryptocurrency Surges 450% in December, Up 20% in January
Moreover, the coin saw a successful break above $140 and the 100 hourly simple moving average. The ETH/USD 4-hour chart shows a cryptocurrency that is currently on a rally. After sustaining losses towards the end of last week, ETH recovered during the weekend and is now attempting to reach its all-time high again. Addressing this demand, some of the largest financial institutions launched their own crypto-related offerings this year. Ethereum price has been performing far better in comparison to other altcoins despite correcting significantly during the FTX crash. The cryptocurrency is still maintaining its macro uptrend, which is crucial for ETH to recover its losses.
Ethereum’s Triple Halving has its roots in the reduction in supply, Following a successful upgrade to EIP 1559, a drop in sell pressure is expected. Analysts believe that a 30% reduction of circulating Ether could take place, which is about half of the effect of a single Bitcoin halving. Meanwhile, the transition to PoS might result in a supply shock equivalent to two halvings.