Cardano (ADA) has remained perched above the critical annual support level of $0.24, a steadfast line of defense in the face of market volatility. Despite the notable price swings, the asset’s price action has failed to commit to either a bullish or bearish trend, leaving market participants uncertain about the coin’s future. A closer look at the daily chart reveals that this indecisive phase is gradually forming a symmetrical triangle pattern, potentially holding the key to forecasting the coin’s near-term trajectory. As of the most recent data from CoinGecko, Cardano…
Tag: Key
Ethereum Price Plunge Imminent as Key Support Line Collapses
Ethereum price is moving lower toward the $1,500 support against the US dollar. ETH could correct higher, but upsides might be limited above $1,565. Ethereum is struggling to start a recovery above $1,550. The price is trading below $1,565 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,555 and $1,570 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but the bears might remain active near $1,565. Ethereum Price Extends Losses Ethereum remained in a bearish…
Trezor releases new hardware wallet and metal private key backup
Trezor, a major provider of hardware cryptocurrency wallets, is celebrating its 10th anniversary by releasing three self-custody products, including a new Trezor wallet, a proprietary private key backup solution and a Bitcoin (BTC)-only wallet. The Czech Republic-based company on Oct. 12 officially announced the launch of Trezor Safe 3, its brand-new hardware wallet supporting more than 7,000 cryptocurrencies. The firm stressed that the new wallet launch marks an important milestone in Trezor’s provision of entry-level hardware wallets. The release of the Trezor Safe 3 wallet comes nearly five years after…
JPMorgan debuts tokenization platform, BlackRock among key clients: Report
American banking giant JPMorgan debuted its in-house blockchain-based tokenization application, the Tokenized Collateral Network (TCN), on Oct. 11, according to Bloomberg. TCN settled its first trade for asset management giant BlackRock. Tokenized Collateral Network is an application that allow investors to utilize assets as collateral. Using blockchain technology they can transfer collateral ownership without moving assets in underlying ledgers. The TCN network in its first public collateralized trade between JP Morgan and BlackRock turned shares of one money market fund into digital tokens, which were then transferred to Barclays Plc as…
Ethereum Price Targets Fresh Lows, Can Bulls Save This Key Support?
Ethereum price is struggling to stay above the $1,550 support against the US dollar. ETH could take a hit if it settles below $1,550 and then $1,540. Ethereum is showing bearish signs and struggling to clear the $1,600. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if the bulls defend the $1,550 support zone. Ethereum Price Struggles…
Shiba Inu Price Dips Below Key Support: Enter Or Exit SHIB?
The Shiba Inu (SHIB) price currently treads on crucial technical terrains. As highlighted in previous comprehensive analysis, the potential impacts of two distinct chart patterns were observed on the 1-week timeframe for SHIB, both leading to vastly different price trajectories. The 1-week chart reveals a compelling quadruple bottom formation for SHIB. If this pattern materializes, it could suggest a bullish surge of up to 250% from its breakout point, as delineated in prior assessments. Conversely, a starkly contrasting pattern emerges in the form of a descending triangle, which has taken…
Key Points From the Sam Bankman-Fried Trial’s First Week
Gary Wang – who’s previously pleaded guilty to similar charges to what Bankman-Fried faces – testified that Bankman-Fried directed him to write code allowing Alameda Research to have a negative balance on FTX as far back as July 2019. Ultimately Alameda took and spent at least $8 billion of FTX customers’ money, Wang said. Wang opened by saying he committed crimes, did so with Bankman-Fried, Caroline Ellison and Nishad Singh and that he was hoping for no jail time as a result of his cooperation. FTX had an insurance fund…
Bitcoin Price Is Showing Early Signs of Fresh Drop, $27,200 Is The Key
Bitcoin price is struggling to rise above the $27,800 resistance zone. BTC could extend its decline if there is a clear move below the $27,200 support zone. Bitcoin is struggling to start a fresh increase above the $27,800 resistance zone. The price is trading below $27,700 and the 100 hourly Simple moving average. There was a break below a key rising channel with support near $27,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if there is a close below…
Who are the key witnesses in FTX founder Sam Bankman-Fried’s trial?
Sam Bankman-Fried’s trial has entered its third day, as the FTX founder is facing seven different charges of wire fraud and money laundering. After jury selection ended on day 2, both sides geared up with key witnesses to present their case. Senior District Judge Lewis A. Kaplan is presiding over the case, and Assistant U.S. Attorney Nicolas Roos is leading the prosecution. The defense is being led by Mark Cohen. So far, three witnesses have been questioned and cross-examined. However, more than 22 key witnesses are set to appear throughout…
This Resistance Level Holds The Key
Egrag Crypto, a renowned crypto analyst, delved deep into the XRP price trajectory in a recent tweet, highlighting the significance of the Volume Profile Visible Range (VPVR) in analyzing potential resistance levels and charting out future price possibilities. Using the VPVR metric, Egrag pointed out the Value Area High (VAH) and Low-Value Area (VAL) which demarcate the highest and lowest prices within the 70% total value area, respectively. He noted, “To me, it’s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.”…