Google Trends data reveals a consistent increase in search interest for “CBDC,” which stands for central bank digital currency, over the past five years. The term has maintained a score above 20 since August 2022, on a scale of 1 to 100, where 100 signifies peak interest. CBDCs See Consistent Search Growth, Top Regions Include […]
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TA: Ethereum Bulls Keeps Pushing, Why ETH Could Rise Steadily
Ethereum found support near ,735 and corrected higher against the US Dollar. ETH is now facing a major resistance near ,885 and ,920.
- Ethereum is slowly moving higher and trading above ,850.
- The price is now trading above ,860 and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near ,840 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair might rise steadily if there is a clear move above the ,920 resistance zone.
Ethereum Price Climbs Higher
Ethereum spiked below the ,760 support zone. However, ETH remained well bid above the ,720 level. A low was formed near the ,734 and the price started a fresh increase.
There was a clear move above the ,800 and ,820 levels. Besides, there was a break above a major bearish trend line with resistance near ,840 on the hourly chart of ETH/USD. Ether price is now trading above ,860 and the 100 hourly simple moving average.
It is now attempting a move above the 50% Fib retracement level of the downward move from the ,015 swing high to ,734 low. On the upside, an initial resistance is near the ,885 level.
Source: ETHUSD on TradingView.com
The next major resistance is near the ,910 and ,920 levels. It is near the 61.8% Fib retracement level of the downward move from the ,015 swing high to ,734 low. A clear move above the ,920 resistance might start a decent increase. In the stated case, the price could revisit ,000. Any more gains might set the pace for a larger increase, may be towards ,120.
Dips Limited in ETH?
If ethereum fails to rise above the ,920 resistance, it could a downside correction. An initial support on the downside is near the ,840 zone and the broken trend line.
The next major support is near the ,800 level and the 100 hourly simple moving average. A clear move below the ,800 level might spark a major decline. The next major support might be ,760. Any more losses could send the price towards the ,735 level in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now in the overbought zone.
Major Support Level – ,800
Major Resistance Level – ,920
TA: Ethereum Rising Steadily, Why ETH Could Surge Past $600
Ethereum remained in a positive zone above 0 against the US Dollar, similar to bitcoin. ETH price is likely to accelerate higher once it clears the 5 and 0 resistance levels.
- Ethereum found support near the 5 level and started a fresh increase.
- The price is now trading above the 0 zone and the 100 hourly simple moving average.
- There was a break above a key bearish trend line with resistance near 6 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could correct lower, but it is likely to attempt a crucial upside break above 0.
Ethereum Price Gaining Momentum
After testing the 5 zone, Ethereum corrected lower. ETH traded below the 0 support level, but the bulls were able to protect the 5 support zone.
A swing low was formed near the 6 level before the price started a fresh increase. There was a strong upward move above the 0 and 5 levels. There was also a break above a key bearish trend line with resistance near 6 on the hourly chart of ETH/USD.
Ether price climbed above the 0 level and even spiked above 5. A new monthly high is formed near 6 and the price is currently consolidating gains. An initial support is near the 0 level or the 23.6% Fib retracement level of the recent increase from the 6 swing low to 6 high.
Source: ETHUSD on TradingView.com
Moreover, there is a crucial bullish trend line forming with support near 5 on the same chart. The trend line is close to the 50% Fib retracement level of the recent increase from the 6 swing low to 6 high.
On the upside, the price is clearly facing a strong resistance near the 5 level. The current price action suggests that ether could make another attempt to clear 5. The next major resistance is still near the 0 level. A close above the 0 level could accelerate gains.
Dips Limited in ETH?
If ethereum fails to clear the 5 and 6 resistance levels, it could start a downside correction. The first key support zone is near the 5 level and the trend line.
A downside break below the trend line support and 5 could push the price towards the 5 support zone. The 100 hourly simple moving average is also waiting near the 5 zone to provide support.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower towards the 55 level.
Major Support Level – 5
Major Resistance Level – 5
Bitcoin And Crypto Market Could Rise Steadily: BCH, Tron, XLM, ADA Analysis
- The total crypto market cap is holding a key support near the 0.0B and 8.0B levels.
- Stellar (XLM) price surged in the past few days and settled above the .0800 resistance.
- Bitcoin cash price is up more than 2% and it is approaching the 0 resistance area.
- Tron (TRX) price is currently correcting lower and it is approaching the .0195 support.
- Cardano (ADA) price is slowly rising and it could soon test the .0460 and .0475 resistances.
The crypto market cap and bitcoin (BTC) are rising steadily. Ethereum, BCH, ripple, stellar (XLM), EOS, TRX, and cardano (ADA) might climb higher.
Bitcoin Cash Price Analysis
After a downside correction, BCH price found support near the 0 and 5 levels against the US Dollar. The price is now moving higher and it is trading above the 5 level. It seems like it could soon surpass the 0 resistance and climb towards the 0 level in the near term.
On the downside, an initial support is near the 2 level. However, the main support for the bulls is near the 5 and 0 levels.
Stellar (XLM), Tron (TRX) and ADA Price Analysis
Stellar price rallied in the past few days and surged above the .0720 and .0750 resistance levels. XLM price even settled above the .0800 resistance and it is currently consolidating gains. An initial support is near the .0805, followed by the main .0800 level. On the upside, the key resistances are near the .0820 and .0832 levels.
Tron price is currently correcting lower and it recently traded below the .0200 support. TRX price may soon test the .0195 support area, where the bulls are likely to take a stand. On the upside, a clear break above the .0205 resistance might push the price towards the .0220 level.
Cardano price is holding gains above the .0420 level and it is slowly climbing higher. An initial resistance is near the .0445 and .0450 levels, above which ADA price could accelerate gains towards the .0475 level. On the downside, there are supports near .0420 and .0412.
Looking at the total cryptocurrency market cap 4-hours chart, there are positive signs above the 0.0B and 8.0B support levels. There is also a connecting bullish trend line forming with support near the 0.0B level. Therefore, a downside break below the 8.0B level could push the market cap back towards the 0.0B support area.
If not, there are chances of more gains in bitcoin, Ethereum, EOS, stellar, LTC, ADA, EOS, ripple, TRX and other altcoins in the near term. On the upside, the main hurdles for the crypto market cap are near 0.0B and 5.0B.
The post Bitcoin And Crypto Market Could Rise Steadily: BCH, Tron, XLM, ADA Analysis appeared first on NewsBTC.
Crypto Market And Bitcoin Could Rise Steadily: BCH, Litecoin, EOS, XLM Analysis
- The total crypto market cap is showing positive signs above the 0.0B support area.
- Bitcoin price needs to surpass the ,400 resistance area to continue higher in the near term.
- Litecoin (LTC) price is still struggling to climb above the key .00 resistance area.
- Bitcoin cash price is slowly rising towards the 5 resistance area.
- EOS price seems to be consolidating gains above the .050 and .000 support levels.
- Stellar (XLM) price is up more than 5% and it recently broke the .0650 resistance area.
Bitcoin (BTC) and the crypto market cap are likely to rise steadily in the near term. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are showing positive signs.
Bitcoin Cash Price Analysis
Recently, there was a minor downside correction in BCH price below the 5 level against the US Dollar. However, the BCH/USD pair remained well supported near the 5 level. The price is currently climbing higher and is trading nicely above the 5 level.
On the upside, there are two important resistances near 5 and 0, above which the price is likely to accelerate gains towards the 0 and 5 resistance levels.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price failed to gain momentum above the .00 and .00 resistance levels. However, LTC price is holding the .50 support area and it is currently trading in a range. Overall, it must surpass the key .00 resistance level to start a strong rise in the coming sessions.
EOS price settled above the .050 support area and it is trading in a range. On the upside, the main hurdle is near the .250 and .300 levels. A successful break above the .3000 resistance area might start an increase towards the next hurdle near the .500 level.
Stellar price is performing nicely above the .0600 pivot level. XLM price is up more than 5% today and it broke the .0620 and .0650 resistance levels. The next resistance is near the .0675, above which the price could revisit the .0695 and .0700 levels.
Looking at the total cryptocurrency market cap 4-hours chart, there is a strong resistance forming near the 0.0B and 5.0B levels. If there is a successful close above 5.0B, the market cap could start a decent rise towards the 0.0B and 0.0B resistance levels. On the downside, an immediate support is near the 0.0B level, below which it could revisit 0.0B. Only a close below 0.0B may perhaps decrease chances of a decent increase. Overall, there are chances of a decent increase in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the near term.
The post Crypto Market And Bitcoin Could Rise Steadily: BCH, Litecoin, EOS, XLM Analysis appeared first on NewsBTC.
Key Trading Indicator Suggests Bitcoin Bulls Are Steadily Accumulating
n A combination of trading indicators suggest that crypto investors are accumulating more Bitcoin even if months of downside trading are on the cardsn
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Number of Crypto ATMs Steadily Growing Amid Crypto Winter, Data Shows
n In November, 209 new crypto ATMs were installed and 68 more closed, showing how the industry is steadily developing amid the market declinen
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Ethereum Classic Price Analysis: ETC/USD Rising Steadily Towards $10.80
Key Highlights
- Ethereum classic price is slowly recovering from the .90 swing low against the US dollar.
- This week’s followed important ascending channel formed is active with support at .40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
- The pair may continue to rise towards the .20 and .80 resistance levels.
Ethereum classic price is forming a base for an upward move against the US Dollar and Bitcoin. ETC/USD could gain strength above .00 for more gains in the near term.
Ethereum Classic Price Analysis
Recently, we saw a downside move below the .00 support in ETC price against the US dollar. The ETC/USD pair even broke the .00 support and traded as low as .92. Later, buyers appeared and pushed the price back above the .00 level. The price traded higher steadily and broke the 23.6% Fib retracement level of the previous decline from the .80 swing high to .90 swing low.
Furthermore, there was a close above the .50 level and the 100 hourly simple moving average. However, the upside move failed near the .80-9.85 resistance area. More importantly, there was a failure near the 50% Fib retracement level of the previous decline from the .80 swing high to .90 swing low. At the outset, this week’s followed important ascending channel formed is active with support at .40 on the hourly chart of the ETC/USD pair. The pair is placed nicely above the channel support, .20 and the 100 hourly SMA. Therefore, it could rally above the .80 and .00 resistance levels in the near term.
The chart suggests that ETC price may possibly gain momentum once there is a convincing break above the .00 resistance. The next stop for buyers in the mentioned case could be .50 or .80.
Hourly MACD – The MACD for ETC/USD is slightly placed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently placed above the 50 level.
Major Support Level – .20
Major Resistance Level – .00
The post Ethereum Classic Price Analysis: ETC/USD Rising Steadily Towards .80 appeared first on NewsBTC.
Industry Insiders: Institutional Money is Steadily Trickling into Crypto
According to multiple sources, there is already much more institutional money in the 0 billion strong cryptocurrency market that people might be aware of.
Growth in OTC Trading Highlights Shift from the Retail to the Institutional
The largest buyers of crypto were high-net-worth individuals who willing to take a risk on Bitcoin and other digital assets.
Now the majority of 0,000 and above sales are hedge funds making private transactions at over-the-counter (OTC) brokerages. This revelation comes via Bobby Cho, the head of trading at Cumberland (the cryptocurrency department of DRW Holdings LLC). Cho personally handles many of the purchases for the hedge funds and other OTC traders.
Many in the cryptocurrency space have been waiting with baited breath for the “entry of institutional money” to trigger the next bull market. However, Cho and others believe that it is already beginning to trickle in.
Taking the other side of these big trades are often the miners themselves. Cho went on to state that many have regular sales scheduled to help pay for the immense operational costs of running mining equipment. Some have even set up their own trading desks to help arrange their OTC sales.
Cho stated to Bloomberg that he sees these developments as signalling a turning point for the entire cryptocurrency industry:
“What that’s showing you is the professionalisation that’s happening across the board in this space… The Wild West days of crypto are really turning the corner.”
Whilst precise figures are difficult to come by, researchers from Digital Assets Research and TABB Group believe that the value of OTC trades is catching up or possibly exceeding those taking place on traditional exchanges. The figures they provide range from between 0 million and billion in trades per day during April. This compares with around billion in daily trades on exchanges.
Another industry insider highlighted the shift in trading habits from the exchanges to OTC trading desks this year. Jeremy Allaire, CEO of Circle Internet Financial, said:
“We’ve seen triple-digit growth enrolling in our OTC business… That’s a big growth area.”
However, despite the ratio of OTC sales to exchange trades growing, the numbers for both are down overall owing to declining prices throughout 2018. The declines have also seen a drop in the volatility of the market, which Cho believes is also luring institutional players towards the market:
“One of the biggest criticisms of crypto by institutional investors has been the volatility… Over the last four to six months, the market has been trading in a very tight range, and that’s seems to be corresponding with traditional financial institutions becoming more comfortable diving into the space.”
There are numerous reasons why high volume buyers and sellers prefer private OTC trades. These include being able to make sales without moving the market, having access to brand new, “virgin” coins, and being able to access the larger numbers of digital coins required to supply their demand. Sam Doctor, MD at Fundstrat Global Advisers, commented:
“At this point in time, because more and more institutions are beginning to enter the market, there’s more of an imbalance.”
He continued to state that the growth in brokerage firms in 2018 is a response to the increased demand from institutional investors.
Featured image from Shutterstock.
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Cardano Price Analysis: ADA/USD Rising Steadily Towards $0.10
Key Highlights
- ADA price has formed a support base near the .0920 level against the US Dollar (tethered).
- There is an ascending channel in place with support at .0925 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
- The pair is likely to rise slowly towards the .0980 and .1000 levels in the near term.
Cardano price is trading in a bullish zone against the US Dollar while declining versus Bitcoin. ADA/USD is likely to climb higher towards the .1000 level as long as it is above .090.
Cardano Price Analysis
There were a couple of swing moves noted near the .0900 support in cardano price against the US Dollar. The ADA/USD pair formed a base above the .0900 level and later started an upside move. It traded above the .0920 level and settled above the 100 hourly simple moving average. The price traded as high as .0968 and it is currently correcting lower.
The recent pullback was below the 23.6% Fibonacci retracement level of the last wave from the .0905 low to .0968 high. On the downside, there are many supports near the .0930 level. It represents the 50% Fibonacci retracement level of the last wave from the .0905 low to .0968 high. Below this, the 100 hourly SMA is positioned near the .0920. More importantly, there is an ascending channel in place with support at .0925 on the hourly chart of the ADA/USD pair. As long as the pair is following the highlighted channel and support at .0920, it could continue to move higher in the near term.
The chart indicates that ADA price has formed a solid support above .0900. However, on the upside, the .1000 level is a strong resistance and it won’t be easy for buyers to push the price above it.
Hourly MACD – The MACD for ADA/USD is currently placed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is retreating from the 70 level.
Major Support Level – .0920
Major Resistance Level – .1000
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