Tag: Support

Whale cluster at $13K is now a support zone

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According to on-chain data from the analysts at Whalemap, $13,000 has become a support level for the price of Bitcoin (BTC). Whale clusters indicate that whales — or large BTC holders — are continuously accumulating. Whale clusters form when a large number of BTC are transferred to a new address and the BTC is unspent. This indicates that whales either bought or transferred their BTC to other whales, signifying buyer demand. A large whale cluster has emerged at the $13,000 level, which could turn into a key support level. A…

Ethereum Recovery Could Fail Near Support Turned Resistance At $400

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Ethereum declined 5% and it broke the main $400 support against the US Dollar. ETH price is recovering from the $385 support, but it could face hurdles near $400. Ethereum is down 5% and it broke the $400 and $395 support levels. The price is currently recovering from $385, but it is well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline unless it…

Bitcoin Correcting Gains, But Key Uptrend Support Is Nearby

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Bitcoin price rallied more than 5%% and it even broke the $13,000 resistance against the US Dollar. BTC is now correcting gains, but there are key supports near $12,500. Bitcoin gained bullish momentum and it rallied above the $12,500 and $13,000 resistance levels. The price traded to a new monthly high at $13,243 and it is well above the 100 hourly simple moving average. There is a key bullish trend line forming with support near $12,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Bitcoin price rally to $12K is meaningless until bulls flip it to support

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On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1.  Cryptocurrency daily market performance snapshot. Source: Coin360 The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets Data The rally to $12K was also accompanied by soaring volumes across the top Bitcoin futures exchanges on Monday…

Uniswap’s first governance vote fails … despite 98% support

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The first governance vote for decentralized exchange (DEX) Uniswap has ended in failure, despite the proposal attracting overwhelming support of 98% of votes cast. Despite this, it fell roughly 1% short of the 40 million votes threshold needed for approval by the close of voting. The poll ended earlier today with almost 39.6 million UNI staked in favor, compared to roughly 700,000 opposed. DeFi blogger Danger Zhang (‘@safetythird’) described the vote as “the DeFi equivalent of winning the popular vote but losing the electoral college.” Uniswap governance vote results: Uniswap…

Coinbase Custody Reveals Coins Up For Potential Support

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Coinbase Custody, a subsidiary of the Coinbase cryptocurrency exchange has announced a set of coins and digital assets it is set to provide custody support for provided regulatory approved in defined jurisdictions permit. As revealed by the company, the announcement for the coins is in its bid to expand on its custody coin listings, a move to solidify its position as the leader in the industry. The journey through the events and activities in the cryptosphere most times is best experienced with an individual or a veteran with trusted experiences…

Charted: Filecoin (FIL) Rally Takes Breather, Key Uptrend Support at $60 Intact

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Filecoin (FIL) started a strong rally above the $60.00 and $65.00 resistance levels. The price is currently correcting lower, but there is a strong support near the $60.00 level. Filecoin price climbed sharply from the $52.00 support and surged over 50% against the US dollar. The price tested the $75.00 resistance and recently started a downside correction. There is a short-term declining channel forming with resistance near $67.00 on the 5 minute chart of the FIL/USDT pair (data source from Binance). The pair could continue to move down, but the…

TA: Ethereum At Risk of A Sharp Decline If It Breaks $365 Support

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Ethereum faced a strong rejection above $380 against the US Dollar. ETH price is now at a risk of a sharp decline if it breaks the key $365 support in the near term. Ethereum struggled to gain momentum above the $380 and $382 levels. The price declined sharply below the 100 hourly simple moving average, and retested $365. There is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a clear…

Here’s How High Chainlink Could Rally if Bulls Defend Key Support

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Chainlink’s price has been caught within a tight and prolonged consolidation phase throughout the past few days and weeks, with buyers and sellers being unable to gain any clear control over its mid-term outlook. Its price action has been moving in lockstep with that of Bitcoin, signaling that it may be losing the independence that it has seen throughout the past few months. It is important to note that LINK appears to be caught within an accumulation phase at the moment, as each dip is being aggressively absorbed, despite the…

Ethereum price back on track to $500 once bulls flip $400 to support

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On Oct. 12 the price of Ether (ETH) soared 8.15% to reach a new monthly high at $387.75 on Binance. The rally from $366 to as high as $387.50 occurred as Bitcoin (BTC) price surged to $11,600, leading traders to speculate that the crypto bull market has restarted. Over the past few weeks Ether’s fundamentals have strengthened and despite a sharp downturn in the price of decentralized finance tokens, the number of active users in the Ethereum network has continued to grow. ETH/USDT daily chart. Source: TradingView.com Ether follows Bitcoin…