Tag: Support

Ethereum Rally Loses Steam, Why ETH Could Revisit Resistance Turned Support

boss

Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now correcting gains from the $1,750 resistance. Ethereum Price Rally Stalls Ethereum’s price was able to start a decent increase from the…

Indian Crypto Exchange CoinSwitch Lays Off 44 Employees from Customer Support Team

boss

Indian cryptocurrency exchange CoinSwitch laid off 44 employees, about 7% of its total headcount, from its customer support team. The team still has about 82 members. The layoff took place about three weeks ago but came to light only recently, media reports said. Since April, CoinSwtich recruited about 60 people, mostly in product tech and compliance. Before the layoff, the crypto trading platform had 640 employees. A news report in Money Control quoted CoinSwtich’s spokesman saying customer queries have reduced significantly with plunging trading volumes, creating redundancy in the customer…

Bitcoin traders pinpoint support levels as BTC price taps $26.2K

boss

Bitcoin (BTC) recovered its weekly close losses on Aug. 28 as risk assets rose on China tax cuts. BTC/USD 1-hour chart. Source: TradingView BTC price 200-week EMA stands out as support Data from Cointelegraph Markets Pro and TradingView followed a BTC price uptick into the day’s Wall Street open. BTC/USD managed $26,226, marking its highest levels since Aug. 25 and fully compensating for weakness seen overnight. News that China had cut tax on stock trading by 50% appeared to buoy U.S. futures into the open. The S&P 500 and Nasdaq…

Top US Crypto Exchange Coinbase Says It Will Axe Trading Support for Multichain (MULTI) and Five Other Altcoins

boss

Leading US-based cryptocurrency exchange Coinbase will suspend trading for the crypto asset of the bridging platform Multichain (MULTI) effective September 6th. The decision comes after Multichain advised its users to stop using its services. Earlier this year, the protocol announced that its team members couldn’t find the project’s CEO, Zhao Jun, amid technical issues. “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.” Cybersecurity firm PeckShield also revealed last month that…

Here’s Why Arthur Hayes Is Not In Support Of A BlackRock Spot Bitcoin ETF

boss

Many stakeholders in the crypto industry have welcomed the idea of traditional finance firms offering a Spot Bitcoin Exchange-Traded Fund (ETF) as they believe it will further drive crypto adoption. However, the former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, seems to be against the move. Problems With BlackRock Spot Bitcoin ETF Filing In a post published on his Substack platform, Hayes made his displeasure known regarding the recent wave of Spot Bitcoin ETF applications by prominent traditional financial (TradFi) institutions, including BlackRock. Contrary to public opinion, he…

Bitcoin Fate Hangs On $25,400 Support, $20,500 Looms As Potential Bottom

boss

Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, is displaying persistent indications of an ongoing downtrend. Currently oscillating between the $26,000 level and the $25,800 mark, it is edging closer to a crucial support level at $25,400.  The significance of this threshold cannot be overstated for BTC bulls, as it holds the potential to halt the ongoing decline. Bitcoin Faces Crucial Levels, Analyst Warns Of Potential Dip Bitcoin finds itself at a critical juncture as it tests a crucial support level, according to renowned crypto analyst Ali Martinez.…

Altcoin Season In Limbo As Bitcoin Dominance Holds Key Support

boss

Market observers are closely eyeing the tussle between Bitcoin and its altcoin counterparts. Bitcoin’s dominance, a critical indicator of its market influence relative to the entire crypto market, has reached a pivotal crossroads. This juncture holds the potential to determine whether this year’s trend of Bitcoin outperforming altcoins will persist or if the heralded “altcoin season” is on the horizon. Bitcoin Dominance (BTC.D) stands as a percentage value that calculates Bitcoin’s market capitalization against the entire global crypto market capitalization. This metric has garnered substantial attention due to its role…

Will $0.5 Support Trigger a Correction Shift?

boss

XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. However, an interesting turn of events has unfolded as the coin found solace at a crucial support trendline coinciding with the psychological level of $0.5.  This fortuitous alignment has offered XRP bulls a potential launching pad for a counteroffensive, raising questions about the possibility of a recovery. The value of XRP soared after a groundbreaking legal verdict that classified the token as not being a security in the protracted legal…

Coinbase lists SEI; TOADS soars 450% as DigiToads supporters look at Binance for support

The listing of Sei (SEI) on Coinbase drove prices and trading volumes higher. Sei is a platform for trading crypto assets, and SEI enables on-chain transactions and paying fees. DigiToads is also drawing investor attention as TOADS, its native token, is already up 450%. DigiToads, with its features and tokenomics, is considered one of the best coins to invest in among meme coin enthusiasts. TOADS remains attractive to users due to its high utility and meme nature. Because of TOADS’ quick popularity, crypto enthusiasts wonder if it will also list in…