Tag: Support

Ethereum Price Nears Breakdown Support, Can Bulls Save The Day?

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Ethereum extended its decline below the $1,240 support against the US Dollar. ETH remains at a risk of more losses below the $1,220 support in the near term. Ethereum remained in a bearish zone and traded below the $1,240 support. The price is now trading below $1,250 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of a downside break below the $1,220 support.…

Key Support Line For Cardano Price Rests Here As The Coin Moves South

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The Cardano price has declined steeply over the past trading sessions. The altcoin currently trades within a descending triangle pattern. This means that the coin could be headed for further decline unless it manages to break past a few vital price ceilings. Over the last 24 hours, ADA declined by 1.3%. In a weekly timeframe, the altcoin price has been hovering around the same range. In recent weeks, the Cardano price has reached new highs. This reading is tied to bullish price action; however, the bulls lost vigor. It is…

Crypto Exchange Coinbase Adds Support for Two Low-Cap Ethereum Altcoins, Sparking Rallies

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Top US crypto exchange Coinbase has given support for two Ethereum (ETH)-based altcoin projects as markets continue to consolidate. In an announcement via Twitter, Coinbase says it will be adding support for Aragon (ANT) and Rocket Pool (RPL) on the Ethereum network on December 8th when sufficient liquidity levels are achieved. With a market cap of $91 million, Aragon aims to be a framework for building decentralized autonomous organizations (DAOs), allowing users to easily construct DAOs on the Ethereum blockchain. Its native token ANT allows users to vote on proposals.…

Winamp adds NFT support, Atari gets physical and more

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NFT music on Winamp Old school classic PC-friendly media player Winamp has rolled out support for Ethereum and Polygon-based music nonfungible tokens (NFTs) in the latest update of its desktop player. Winamp has been around since 1997 and was one of the most popular media players for PC users but has since been overtaken by Windows Media Player and Apple’s dominant iTunes. It has a reputation for supporting a wide range of media files, and in the latest update announcement on Dec. 7 the Winamp team noted that NFT support…

Bitcoin bears beware! BTC holds $17K as support while the S&P 500 drops 1.5%

Bitcoin (BTC) bulls regained some control on Nov. 30 and they were successful in keeping BTC price above $16,800 for the past 5 days. While the level is lower than traders’ desired $19,000 to $20,000 target, the 8.6% gain since the Nov. 21, $15,500 low provides enough cushioning for eventual negative price surprises. One of these instances is the United States stock market trading down 1.5% on Dec. 5 after a stronger-than-expected reading of November ISM Services fueled concerns that the U.S. Federal Reserve (FED) will continue hiking interest rates.…

Elon Musk Suspects Former FTX CEO Sam Bankman-Fried Donated Over $1 Billion to Support Democrats – Bitcoin News

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Tesla CEO and Twitter chief Elon Musk says that former FTX CEO Sam Bankman-Fried (SBF) probably donated over $1 billion to support the Democratic Party, which would be a much larger sum than the number publicly disclosed. Many people slammed Musk for making accusations without providing proof. “This statement is so unbelievably irresponsible,” one commented. Elon Musk Believes SBF Donated Over $1B to Democratic Party Tesla CEO and Twitter chief Elon Musk believes that Sam Bankman-Fried (SBF), co-founder and former CEO of the collapsed cryptocurrency exchange FTX, donated much more…

This Historic Bitcoin On-Chain Support Level Is Still Not Lost

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On-chain data shows the historical 20-Day MA Bitcoin aSOPR support level has continued to hold so far. Bitcoin 20-Day MA aSOPR Rebounds Off Historical Support Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR recently retested its 8-year old support. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the overall…

DXY bounces at major support, reducing Bitcoin’s chance at breaking the $17.2K resistance

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On Dec. 2, the United States dollar index (DXY), an index that measures the dollar’s strength against a basket of top foreign currencies, reached 104.40 which was the lowest level seen in 5 months.  To recap, the U.S. dollar’s weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and effect of high inflation. The U.S. dollar’s retreat may have been an interim correction…

Animoca Brands Plans $2 Billion Metaverse Fund to Support Established Projects – Metaverse Bitcoin News

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Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced it plans to launch a $2 billion metaverse fund. The new fund, which would be focused on returns for potential investors wanting to get more Web3-related capital exposure, will focus its activities on companies in the mid-to-late investment stages. Animoca Brands Plans Animoca Capital Fund Launch Animoca Brands, one of the most recognized metaverse and NFT companies in the ecosystem, has announced plans to launch its own metaverse fund. According to statements made by co-founder Yat Siu…