Day: June 18, 2024

Quant price dips as whale makes major move

The price of Quant (QNT) is down nearly 5% in the past 24 hours amid the broader crypto market weakness that has Bitcoin trading near the $65,000 level. While BTC and other top cryptocurrencies struggle amid current market reaction to macroeconomic conditions, Quant has an extra layer of downside pressure after a whale moved over 118,000 QNT tokens to the Kraken crypto exchange. QNT, which traded at highs of $102 on May 21, is currently hovering at $79.85, with bulls under pressure that could see bears retest lows last seen…

Is Ethereum Poised For A Record Break? Top Analyst Says $5K is Coming Soon

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Prominent crypto analyst Jelle has projected Ethereum (ETH) to surge to $5,000 by the end of this year. This prediction comes with a notable reason from a technical perspective. Ethereum Rally: Setting the Stage For New Peaks Jelle’s forecast comes after Ethereum is experiencing a form of stabilization above the $3,500 mark, following a correction from its March high of over $4,000. Related Reading As the crypto community watches closely, Jelle’s insights suggest significant bullish potential for Ethereum, particularly as the market anticipates the launch of spot Ethereum exchange-traded funds…

Can Polygon Recover From The Recent Crash?

MATIC price is down over 15% and tested the $0.5150 support. Polygon is slowly recovering, but the bears might be active near $0.5650 and $0.5720. MATIC price started a fresh decline from the $0.6285 resistance zone against the US dollar. The price is trading below $0.570 and the 100-hour simple moving average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC/USD pair (data source from Kraken). The pair could recover and test the $0.5720 resistance zone in the near term.…

Zimbabwean Regulators Develop Framework for Virtual Assets Trading

The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are reportedly developing a framework for virtual asset trading. The framework aims to provide clear legislation, client protection under the Data Protection Act, and educational support. Challenges include infrastructural investment and licensing fees for foreign-supplied systems. An informal virtual asset […] Source CryptoX Portal

XRP Bulls Flex Muscles: Potential Uptrend in Play?

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XRP price dipped but the bulls were active near the $0.4700 support. The price reclaimed the 100-hourly SMA and might continue to rise if it clears $0.4950. XRP price found support at $0.4700 and started a recovery wave. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise unless it fails to stay above the…

Bitcoin Could Crash To $60,000 If This Support Gets Lost: CryptoQuant Head

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On-chain data shows Bitcoin is approaching the “Realized Price” of the short-term holders, a retest of which has historically been important for BTC. Bitcoin Is Close To Seeing A Retest Of Short-Term Holder Cost Basis In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed how BTC has recently been near the Realized Price of the short-term holders. Related Reading The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the average price at which investors or addresses on the Bitcoin…

Korean Exchanges Set to Reevaluate Over 600 Listed Virtual Assets

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South Korean cryptocurrency exchanges are set to reevaluate more than 600 digital assets, and those failing this process will ultimately be delisted. Once the process is completed, crypto exchanges will be required to conduct maintenance reviews quarterly. The reputation of the issuers and user protection tools are among the factors related to virtual assets that […] Source

Is a Double Bottom Pattern Emerging?

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Ethereum price declined again and retested the $3,365 support zone. ETH could start a fresh increase toward $3,700 if it stays above $3,365. Ethereum is still holding the key $3,365 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could form a double-bottom pattern and rise toward the $3,700 resistance. Ethereum Price Retests Key Support Ethereum price failed to gain pace…

Tanzania Targets Crypto Traders With Proposed Income Tax Act Amendment

Tanzania plans to amend its Income Tax Act to tax crypto trades. The proposal includes a three per cent withholding tax on income from digital asset transactions. Digital platform owners or facilitators of digital asset transfers will act as withholding agents. Foreign citizens operating such platforms must register under Tanzania’s Simplified Tax Regime. The government […] Source CryptoX Portal

Extends Losses Amid Increased Selling Pressure

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Bitcoin price extended its losses and traded below the $65,000 level. BTC is showing bearish signs and might extend losses below the $64,600 level. Bitcoin remained in a bearish zone and traded below $65,000. The price is trading below $66,000 and the 100 hourly Simple moving average. There is a connecting trend line forming with resistance at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and even trade below the $64,500 support zone. Bitcoin Price Extends Its Decline…