The recent downtrend in price has stabilized above the May 12 low at $25,338, which contributed to rising momentum on the daily chart. For example, the 14-day relative strength index (RSI) returned above the 50 neutral mark Monday after reaching extreme oversold levels on May 9. Original
In an announcement published by Alchemy just one day after the Solana network temporarily halted on June 1, the Web3 development platform and infrastructure provider announced its support for the controversial blockchain. Caused by a bug that made it impossible to reach network consensus, the Solana blockchain was halted for approximately four hours on Wednesday. This isn’t the first time the system has been compromised, as normal functionality has been halted five times already this year. That didn’t seem to be a problem for Alchemy, which gives developers the ability…
Bitcoin (BTC) price action is stabilizing over the short-term, but expect a rise in volatility. There is strong resistance at the 50-day moving average, currently at $34K, although support at $20K-$25K could keep buyers active. Original Source 20K25K34kBitcoinResistanceSupportWeighed CryptoX Portal
Bitcoin (BTC) price action is stabilizing over the short-term, but expect a rise in volatility. There is strong resistance at the 50-day moving average, currently at $34K, although support at $20K-$25K could keep buyers active. Source
press release PRESS RELEASE. LABEL Foundation has announced that it has officially integrated with Binance Custody to take advantage of their highly secure cold storage solution. With this integration, LABEL’s native tokens can be kept safely as the $LBL is now supported by Binance Custody and the tokens are safely stored using their institutional and insured cold storage feature. Moreover, both BEP-20 and ERC-20 are available for deposits as well as withdrawals. If all goes well, the LABEL team hopes to further expand its partnership with the Binance ecosystem in…
Ethereum co-founder Vitalik Buterin has shown support for Optimism’s new governance structure, noting that proposals such as using the OP token for gas fees shows “explicit representation of non-token-holder interests.” The Ethereum layer-2 scaling solution deployed the first round of its long-awaited OP token airdrop on June 1 as part of its new governance project the “Optimism Collective.” Optimism’s new governance structure involves two parties dubbed the “Token House” and “Citizens’ House.” The former is composed of OP governance token holders and the latter consists of “soul-bound” non-transferrable citizenship NFT…
Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs. Total altcoin index capitalization What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering worldwide, but it is exactly these kinds of conditions that create opportunities where professional money accumulates and adds to positions. Let’s take a look at three altcoins that could be positioned for a rebound if…
Bitcoin (BTC) buyers took some profits below the $33K resistance level. Long-term momentum remains negative, capping upside moves in price. For now, lower support is at $25K-$27K. Original
The larger issue, however, touches all of crypto. In essence, the lawsuit is about decentralization and the responsibility software coders hold once crypto applications go live. “It aims to test the question of whether or not creators can make something, release it on a blockchain and really claim not to control it anymore,” Axios’ Brady Dale wrote. Source
There is growing risk of additional breakdowns in price because of negative momentum readings based on weekly and monthly price data. If a volatile down move occurs, initial support is seen at $25,000, which is around the May 9 price low. There is additional support at the 200-week moving average, currently at $22,061, which could stabilize price action. Source 22K25K33KBitcoinFacesResistanceSupport CryptoX Portal