Can Ethereum reach $50,000? - cyptoranking.com

2024-04-28

Popular crypto exchanges(2023 Update) 2024-04-28
Image: cyptoranking.com

While the raw hashrate chart indicates that the Bitcoin network is very healthy and becoming more secure over time, there are some concerns about the dominance of the largest Bitcoin mining pools. According to the post, the phishing scheme has seen 11 Hong Kong-based Binance customers report combined losses of more than $446,000 ($3.5 million Hong Kong dollars) in the last two weeks. Can Ethereum reach $50,000?After a months-long soft launch, Mythical’s NFL Rivals unveiled full gameplay in August, timed to the preseason of the NFL, by far the most popular sport in the United States. The game, available on Apple and Android devices, has been downloaded millions of times, according to Mythical. 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.

Exchange Rankings Crypto
Image: cyptoranking.com

This rise in popularity caused a big fee spike on the bitcoin blockchain, leading some users to complain about the perceived “uselessness” of adding arbitrary data to what should arguably be a monetary network. Since bitcoin is ruled by rules, not rulers, and Ordinals transactions abide by the protocol’s rules, the activity was able to continue and thrive for months, leading to a plethora of applications and new developments being built on the original cryptocurrency. Seeing a lot of crypto start-ups with down rounds of 70-90%. Not negative signalling imo, the opposite. A simple necessity in many cases, but doing it before it's a pure last resort shows maturity and realism. The crazy valuations of the original raises are a 'sunk cost'… Virtual Currency|NFA-National Futures AssociationBAR was trading at $2.09 as of press time, down 3.45% from its 24-hour high. However, if bearish pressure continues to mount, a drop below $2.06 might lead to a steep decline, with the next support level at $2.00. As with most phishing scams, action must be taken. In this case, redirection to a fake website that steals personal information. This is then used to access the crypto account and drain the funds.

Solana vs Ethereum The key barrier to the wider usage of stablecoins isn’t therefore the technology’s value proposition, Carrica says. It’s the user experience. “Do I think I’m sophisticated enough to manage that technology or not?” he asks. That’s the big question.” 10 best ways to make money online in NigeriaThe short answer is that crypto mining is not dead, but it seems quite evident that cryptocurrency mining will become less relevant over time, with the exception of Bitcoin mining. Out of the 10 largest cryptocurrencies by market capitalization, only two (Bitcoin and Dogecoin) are secured through mining. The others use Proof-of-Stake or are issued as tokens on top of existing Proof-of-Stake blockchains. Also, the upcoming Bitcoin halving brings hope for the new bull market and the fresh VC funding to enter the crypto space.

The latest functionality to join the DePIN stack will be confidential computing, allowing developers to compute encrypted data. This new framework is written in Rust. One of the key findings from the pilot was the critical importance of privacy and confidentiality in CBDC transactions. Our technology offers a balanced approach to privacy, ensuring confidentiality without compromising on interoperability and efficiency. This concept of "regulated privacy" is vital for any large-scale financial transaction system and was highly valued by the RBA and other stakeholders. Making Sense of India's New Crypto RulesAs a way to measure short-term direction, the EMA stance means CHZ is bearish. So, there is a higher chance of another decline than a possible uptick. Create: Unleash your creativity with Torque Drift 2’s enabling tools. Craft and shape your own unique content, using both the in-game tools and other available platforms.

Have an opinion on this story? Share it!