Which coin will be next Ethereum? - cyptoranking.com
Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sept. 20. However, long-term investors are unfazed, and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July.This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines, awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks.Daily cryptocurrency market performance. Source: Coin360Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in an X (formerly Twitter) post that Bitcoin could start an up-move but added that it was “too early to answer.” The volatility could increase after Fed Chair Jerome Powell’s press conference, but traders should be careful not to get sucked into a bull or a bear trap. It is better to wait on the sidelines and enter after the volatility subsides and a directional move begins.What are the important levels to watch for on Bitcoin and the major altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin is facing stiff resistance at the 50-day simple moving average ($27,154), indicating that the bears are trying to halt the recovery.BTC/USDT daily chart. Source: TradingViewThe upsloping 20-day exponential moving average ($26,499) and the relative strength index (RSI) in the positive territory indicate that bulls are in control. If the price rebounds off the 20-day EMA, it will enhance the prospects of a rally above the 50-day SMA. If that happens, the BTC/USDT pair could climb to $28,143.Related: Bitcoin price eyes $28K as Binance legal battle spurs bullish momentumConversely, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears remain active at higher levels. A break and close below $26,000 may accelerate selling and sink the pair toward the crucial support at $24,800.Ether price analysisEther (ETH) has been maintaining above the breakdown level of $1,626 for the past few days, but the bulls have failed to build up on this strength.ETH/USDT daily chart. Source: TradingViewThe long wick on the Sept. 18 and 19 candlestick shows selling by the bears at higher levels. The flattish 20-day EMA ($1,637) and the RSI just below the midpoint suggest a balance between buyers and sellers.A rally above $1,680 could tilt the advantage in favor of the bulls. The ETH/USDT pair could then rally to $1,745. On the contrary, a slide below $1,600 will suggest that bears have not yet given up. That could pull the pair to $1,530.BNB price analysisBuyers tried to shove BNB (BNB) above the overhead resistance at $220 on Sept. 18 and 19, but the bears defended the level successfully.BNB/USDT daily chart. Source: TradingViewA minor advantage in favor of the bulls is that they have not allowed the price to slide back below the 20-day EMA ($215). This suggests that the bulls are buying the minor dips as they expect the up-move to extend further. If buyers clear the zone between $220 and the 50-day SMA ($223), the BNB/USDT pair could start a rally toward $235. If bears want to prevent the upside, they will have to tug the price back below the 20-day EMA. That could keep the price stuck inside the $203 to $220 range for a while longer.XRP price analysisXRP (XRP) rose and closed above the 20-day EMA ($0.50) on Sept. 19, indicating that the bulls have the upper hand.XRP/USDT daily chart. Source: TradingViewIf the price stays above the 20-day EMA, it will suggest that the bulls are trying to flip the level into support. That will open the gates for a potential rise to the overhead resistance at $0.56, where the bears will likely make their stand.The price action of the past few days is showing signs of forming a bullish ascending triangle pattern, which will complete on a break and close above $0.56. Buyers will have to keep the XRP price above the uptrend line to safeguard the setup.Cardano price analysisThe bulls have been trying to push Cardano (ADA) above the 20-day EMA ($0.25) for the past few days, but the bears have not relented.ADA/USDT daily chart. Source: TradingViewThe flattening 20-day EMA and the RSI just below the midpoint suggest a balance between supply and demand. If buyers sustain the price above the 20-day EMA, ADA price will attempt a rally to the overhead resistance at $0.28.Alternatively, if the price turns down sharply from the current level, it will signal that the bears are selling on relief rallies. A break and close below the $0.24 support will indicate the start of the next leg of the downtrend. The next support on the downside is at $0.22.Dogecoin price analysisDogecoin (DOGE) has been trading near the 20-day EMA ($0.06) for the past few days, indicating that the bears are defending the level aggressively.DOGE/USDT daily chart. Source: TradingViewA small positive in favor of the bulls is that they have not allowed the price to slip below $0.06. This suggests that the bulls are trying to clear the overhead hurdle. If the 20-day EMA gives way, the DOGE/USDT pair could climb to $0.07 and later to $0.08.Instead, if the price turns down sharply from the current level, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then aim to yank the price below $0.06 and challenge the critical support at $0.055.Solana price analysisAfter struggling to rise above the 20-day EMA ($19.55) for a few days, Solana (SOL) finally overcame the obstacle on Sept. 18.SOL/USDT daily chart. Source: TradingViewThe 20-day EMA is flattening out, and the RSI is just above the midpoint, indicating that the bears may be losing their grip. Buyers will try to push the price to the 50-day SMA ($21.14) and subsequently to the overhead resistance at $22.30. This level is likely to attract strong selling by the bears.This positive view will be invalidated in the near term if the SOL/USDT pair turns down and plummets below $18.50. The pair could then retest the strong support at $17.33.Toncoin price analysisToncoin (TON) is currently in a strong uptrend. The bulls are trying to strengthen their position further by pushing the price above $2.59, but the bears have held their ground.TON/USDT daily chart. Source: TradingViewAlthough the up-move is facing selling near $2.59, the bulls have not ceded ground to the bears. This suggests that the traders are holding on to their positions as they anticipate another leg higher. Above $2.59, the TON/USDT pair could reach $2.90 and eventually $3.28.The upsloping moving averages indicate an advantage to buyers, but the overbought level on the RSI warns of a possible correction or consolidation in the short term. The first support for the TON price on the downside is $2.25, and the next level to watch out for is $2.07.Polkadot price analysisThe bulls are struggling to propel Polkadot (DOT) above the breakdown level of $4.22, indicating that demand dries up at higher levels.DOT/USDT daily chart. Source: TradingViewThe bears will try to strengthen their position by sinking the price below the immediate support at $4. If they succeed, the DOT/USDT pair risks a slide to the crucial support at $3.90. A break and close below this level may start the next leg of the downtrend.Instead, if the price turns up from the current level and rises above the $4.22–4.33 resistance zone, it could lead to short covering. The pair can first reach the 50-day SMA ($4.50) and thereafter climb to the downtrend line.Polygon price analysisPolygon (MATIC) rose and closed above the 20-day EMA ($0.54) on Sep. 19, indicating that the bulls are attempting a comeback.MATIC/USDT daily chart. Source: TradingViewStill, the 20-day EMA is likely to witness a tough battle between the bulls and the bears. If the bulls maintain the price above the 20-day EMA, the MATIC/USDT pair could climb to the overhead resistance at $0.60 and then to $0.65.Contrarily, if the bears pull the price back below the 20-day EMA, it will signal that higher levels continue to attract selling. The bears will then try to build upon their advantage by pulling the price below $0.49.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Bitcoin is the largest, longest-running, decentralized, and most secure digital currency of all time, but it is far from the first such attempt. We as a community would do well to remember that bitcoin stands on the shoulders of previous projects, spanning across decades of work. Satoshi built upon the technical underpinnings of said projects, their successes and failures, and each unique cultural ethos. Which coin will be next Ethereum?The whale with the short name 0x02e deposited 360.7 thousand ($526.6 thousand) LQTY to the cryptocurrency exchange MEXC about two hours ago. Additionally, the clairvoyantlabs.eth wallet deposited 1.069 million USD ($1.34 million) to Binance in the last five days, making a profit of 460 thousand USD (52%). “Gamers no longer have to screen cap their accomplishments — they can prove them mathematically,” the post read.
The Crypto Aid Israel initiative supports both Bitcoin and Ether donations. Deriving value from an underlying asset — rather than spot trading the asset itself — allows for a broader variety of financial mechanisms, such as leverage trading and futures. It also happens to create much greater technical demands on platforms that aspire to provide the service at the high volume and speed that clients demand. Bitcoin Profit Review-Legit Crypto Trading Platform?Voting On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Stratos allocated $5 million of the funds to REZI, a real-estate tech firm focusing on apartment rentals in major U.S. cities, which has now stopped paying and is expected to write down the position to zero, the post said. On Sunday, SAGE Labs recorded 2,293,210 transactions, per Flipside. By comparison, the entire Polygon network saw 2,037,330 transactions, according to data from blockchain explorer Polygonscan. Polygon is an Ethereum scaling network. Ethereum (ETH) Price Today-ETH to USD Forecast & NewsStaFi, the trailblazing multi-chain liquid staking protocol, has taken a giant leap forward in its mission to empower users to participate in DeFi while staking across various Web3 ecosystems. In an exciting development, StaFi has seamlessly integrated Chainlink CCIP (Cross-Chain Interoperability Protocol) across the Ethereum, Arbitrum, and Polygon mainnets. Yuga Labs is announcing a restructuring that will better focus our team on our core priorities. While certain roles have been impacted, these changes are necessary to evolve as an organization. For more see a note written by @dalegre on our https://t.co/722YfqwaCB official blog.
Lucky Star Currency is a project that focuses on NFTs and claims to be founded by astrologists. Its contracts include an Award Center and NFT Marketplace. It is marketed towards the Chinese crypto investment market. The team promotes the project on X (formerly Twitter) under the username @AstrAstrol75591. It also has a Telegram channel. As of October 9, the project’s website and user interface are offline. However, we know that in generating the bottom of the current cycle, it was lost, and Bitcoin was below it for several months. The Difference Between Cryptocurrency vs Stock Market[We’ve] still got to see ETH go home, my friends, and it hasn’t happened yet. So, I think that it will. And again, you can see on these lower time frames, at least over the last year and a little over a year, that it’s trying to hold those levels. But again, at some point, it likely breaks, and when it does, that’s likely when Ethereum starts to head home.” Fear, Uncertainty, and Doubt (FUD) is another psychological expression in the crypto realm. This is when certain people or groups engage in creating and spreading panic and uncertainties regarding a cryptocurrency, to prevent people from buying that specific coin.
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