Tag: Support

Terra were offering unsustainable yields; DeFi can support financial inclusion

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Reporting from the inaugural day of the Blockchain Hub Davos 2022 conference, Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr hosted a panel discussion centered around decentralized finance (DeFi) titled “Programmable Money is Here — and It’s Changing the World as We Know It.” Panelists included chief partnership officer of SwissBorg, Alexander Fazel; Global Markets lead of Kraken Europe, Lucian Aguilar; co-founder and CEO of CasperLabs, Mrinal Monahar; and managing partner of Coral Capital, Patrick Horsman. In the opening remarks, Aguilar reflected upon his attendance of the event two years ago, assessing the…

Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

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The Ethereum 2.0 update is generating a lot of buzz and interest, and we’re getting closer to its launch than ever before. Ethereum 2.0 Goes To Testnet Testing for Ethereum’s long-awaited Merge is progressing, though not at the rate that many had hoped. Testing on Ropsten, Ethereum’s largest and primary testnet, which has the closest similarity to the mainnet, is the next key milestone in the Merge testing process. Ropsten testing will be merged on June 8, according to Ethereum client developers. Although there is no official indication on when…

ATOM Might Trade Below Its Immediate Support Level Despite A Recent Rally

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ATOM had displayed optimistic price action recently after the coin rallied close to 14% a little over 48 hours ago. The coin had managed to undo the loss of 21% that it incurred in the past week with its recent rally. Bearish sentiments are still present across the whole industry and altcoins have also walked along the same price sentiment. Ever since ATOM revisited its all time high in the month of January this year, the coin has struggled to release itself from the grasp of the bears. At the…

2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

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Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery.  Ether/USD 4-hour price at Bitstamp. Source: TradingView To date, the Federal Reserve continues to dictate the markets’ performance and uncertainty has been the prevailing sentiment because the central banks of major economies are trying to tame inflation. Considering that the correlation between…

Bitcoin, Ether Hover Above Support Amid China Optimism, U.S. Futures Bump

Lately correlated nearly 1:1 with broader equity markets , cryptocurrencies were ahead 3.2% after nearly a week of declines that saw bitcoin (BTC) fall to as low as $24,000. At current press time, the largest crypto is selling for $30,300. Ether (ETH) added 2.2% in the past 24 hours to trade above $2,000, with similar gains for Avalanche’s AVAX, BNB Chain’s BNB, and Dogecoin. Source

Bitcoin Holds Key Support, Why BTC Must Clear This Resistance

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Bitcoin corrected lower and tested the $29,000 support against the US Dollar. BTC must settle above the $30,500 resistance to start a decent increase. Bitcoin failed to gain pace above $31,000 and corrected lower below $30,000. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above…

Bitcoin bulls aim to flip $30K to support, but derivatives data show traders lack confidence

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Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Bitcoin/USD 4-hour price at Bitstamp. Source: TradingView Does derivatives data support reclaiming $30,000, or is Bitcoin potentially heading to another leg down after failing to break above $31,000 on May 16? Bitcoin price falters in the face of regulatory concerns and the Terra debacle One factor placing…