Month: May 2024

Ethereum Price Dips, Then Rips: Exciting Trading Opportunities Ahead

Ethereum price dipped sharply after it rallied toward $3,940. ETH is now consolidating near $3,850 and is eyeing more upsides in the near term. Ethereum started a consolidation after it rallied toward the $3,940 resistance zone. The price is trading above $3,720 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,720 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up unless there is a break below the $3,620 support. Ethereum Price Eyes More…

Kelp DAO Secures $9 Million in Private Sale to Boost Defi Expansion

Kelp DAO, a liquid restaking platform, has completed a private funding round, amassing $9 million to propel its growth in the decentralized finance (defi) sector. The funding aims to enhance the platform’s capabilities and expand into new ecosystems, including Solana and Bitcoin. Restaking Protocol Kelp DAO Secures $9 million Leading the investment round were SCB […] Source CryptoX Portal

Bitcoin Price Dips Again: Market Fluctuation or Start of a Correction?

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Bitcoin price extended losses and traded below $68,800 support. BTC is now consolidating and facing hurdles near the $70,000 resistance zone. Bitcoin extended its decline below the $68,800 support zone. The price is trading below $69,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $69,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move done unless the bulls push it back above $70,000. Bitcoin Price Breaks Support Bitcoin price started a…

Analyst Predicts An “Ultra Bull” Scenario For Bitcoin That Could Send Price To $80,000

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A crypto analyst has forecasted an “ultra bull scenario” for Bitcoin, highlighting key support levels and technical patterns that suggest a price rally above $80,000 in this market cycle.  Bitcoin Could See Upside Above $80,000 In a recent X (formerly Twitter) post, a crypto analyst identified as ‘CrediBullCrypto’ has doubled down on his previous prediction of an ultra-bull scenario for Bitcoin in the future. The analyst’s insights on Bitcoin’s recent activities suggest that the downside risk may be less significant than previously anticipated, paving a bullish path for a massive…

Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability

The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […] Source CryptoX Portal

Bitcoin Will Hit $80,000 In May Despite Outflows To Ethereum: Analyst

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Bitcoin is fast-dropping, looking at price action in the daily chart. Even after the impressive spike above $71,500 early this week, there needs to be a conclusive follow-through for optimistic bulls. Despite this correction, one analyst strongly believes Bitcoin will rally sharply, reaching $80,000 by the end of the month.   Will Bitcoin Hit $80,000 By End Of May? Taking to X, the analyst thinks HODLers, not speculators, will reap the maximum benefits from Bitcoin. Based on the trader’s assessment, not only will BTC fly above $80,000 by the end of May, but…

Ebury Botnet Expanding: Malware Continues to Steal Cryptocurrency

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ESET Research has disclosed that the Ebury botnet, a formidable malware campaign targeting servers, is still active and expanding. Initially recognized for its capability as a server-side backdoor, Ebury has compromised roughly 400,000 Linux, FreeBSD, and OpenBSD servers, with over 100,000 still affected as of late 2023. The operators of Ebury have diversified their illegal […] Source

US Congress Building Pro-Crypto Army, Lawmaker Says

Crypto is gaining momentum among U.S. lawmakers. Senator Cynthia Lummis stated: “We are building a pro-crypto army in Congress.” This declaration came shortly after the House of Representatives passed the landmark Financial Innovation and Technology for the 21st Century Act (FIT21) crypto bill, despite opposition from the White House and SEC Chairman Gary Gensler. ‘We […] Source CryptoX Portal

Is Axie Infinity (AXS) About To Skyrocket? Crypto Analysts Spot Major Breakout Patterns

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Axie Infinity (AXS), the popular play-to-earn game token, appears to be drawing significant attention from crypto analysts and investors alike. Recent analyses by renowned crypto experts Ali and Captain Faibik have identified key patterns and technical signals indicating a possible bullish breakout for AXS. The analysts observed an inverted head and shoulders pattern on the weekly chart of AXS, a classic technical indicator often associated with the reversal of a downtrend and the start of a bullish phase. Related Reading Major Rally Predicted For Axie Infinity (AXS) Ali predicts that…