[ad_1] In recent weeks, Ethereum has demonstrated a downtrend in shorter timeframes, where the bulls struggled to maintain the critical $1900 support zone. This allowed the bears to gain dominance. However, there appears to be a change in price sentiment during recent trading sessions. On the daily chart, ETH experienced a 2% climb. A positive movement is observable on the weekly chart, although it remains relatively modest. Despite the upward movement, there is a potential risk of waning bullish momentum if Ethereum fails to sustain its price above the immediate trading zone. From a technical standpoint, the altcoin is leaning…
Author: anushsamal
[ad_1] Senior House Republicans have officially introduced a bill that seeks to change how crypto markets function in the United States. Republican members of the Agriculture and Financial Services Committees of the United States House have introduced this bill to create a regulatory framework for digital assets. Submitted on July 20, the Financial Innovation and Technology for the 21st Century Act represents an effort by US lawmakers to promote collaboration between two major federal regulators. These include the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The 212-page bill aims to tackle regulatory gaps by establishing…
[ad_1] In April 2023, Arkansas made history by becoming the first state to pass the ‘Right to Mine’ Bitcoin bill in both the House and Senate. However, the “Right to Mine” law in Arkansas is encountering increasing opposition as it relaxes regulations on commercial crypto mining. Reports have suggested that loosening restrictions on commercial cryptocurrency mining has raised concerns. This is because after enacting the new law, large electricity-intensive crypto mines entered Arkansas. The legislation has sparked controversy by limiting the authority of city governments to regulate crypto mines. This has effectively stripped them of their ability to enforce local…
[ad_1] In recent trading sessions, Chainlink (LINK) has exhibited a bullish trend. It experienced a significant rebound from its $5 support level and has since continued on an upward trajectory. Over the past week, LINK has surged more than 12%, although its daily chart indicates a slowdown in gains. The coin formed a bullish reversal pattern, driving a substantial price surge. The technical outlook for LINK reflects bullish strength, albeit with a slight decline in demand and accumulation on the chart. In recent trading sessions, LINK has formed a pattern that suggests a potential reversal in price direction. To prevent…
[ad_1] After a period of correction, the Ethereum price has started to show signs of appreciation on its chart. The altcoin has managed to break past a crucial recovery region, indicating that the bulls are making an attempt to regain control. Over the last 24 hours, Ethereum has experienced a modest 0.2% increase in price. But on the weekly chart, it has successfully reversed most of its previous losses. However, it is important to note that Ethereum is still trading near a vital support line, and another push from the bears can make the altcoin potentially drop below its immediate…
[ad_1] As of the time of writing, Dogecoin (DOGE) was trading at $0.070. The meme-coin has been struggling to recover after facing rejection at $0.076, with the bulls unable to gain momentum. The current overhead resistance for DOGE is $0.073. If this level is breached, it could propel the meme-coin to $0.078. However, if the price falls from its current level, it will likely reach $0.068 and potentially drop further to $0.066, resulting in a nearly 6% decline in value. The trading volume of DOGE in the last session indicated a red signal, indicating mounting selling pressure. Technical Analysis Dogecoin…
[ad_1] The price of Chainlink had been in a period of consolidation over the past few sessions. However, the bulls were recently able to break above an important resistance level. Despite this recent bullish action, the daily chart showed a 6% depreciation and on the weekly chart, LINK had a 9% loss. The technical outlook looked bleak with fading demand and low accumulation. Nevertheless, if LINK can remain above the $7 mark, another rebound may be possible. As Bitcoin displayed mild bullish sentiment after reclaiming the $28,000 mark, most altcoins exhibited similar behaviors. If BTC retraces in the next trading…
[ad_1] The bearish onslaught has taken a toll on the price of Filecoin, which slipped below the $6 mark, and the bears now have a strong foothold. On the one-day chart, Filecoin is showing consolidation with a loss of 1.1%. Over the last week, the coin has depreciated by nearly 17%. The technical outlook for Filecoin indicates bearish pressure, with a drop in demand and accumulation. If sellers push further, it will add to the bearish pressure. Bitcoin’s struggle to stay above $30,000 has affected other altcoins, keeping them below their immediate resistance levels. The demand must recover in the…
[ad_1] Over the last few days, Avalanche has experienced significant losses, plunging by almost 20%. On a weekly timeframe, AVAX has lost 10% of its market value. Although the daily timeframe indicates that AVAX has made a slight upward movement on its chart, with an appreciation of 1.6%, the technical outlook for Avalanche remains bearish. Buyers have been cautious about price movements while sellers have dominated the market, leading to a decrease in both demand and accumulation on the daily chart. In order for the Avalanche price to experience some relief, it needs to break above the $18 mark. However,…
[ad_1] Reddit’s latest announcement unveils the deployment of Gen 3 NFT “Reddit Avatars” on the Polygon blockchain network, ushering in a new era of blockchain-based digital collectibles. Reddit launched these Non-fungible tokens on Polygon’s blockchain on April 5th, which led to speculation among users that these NFTs would sell out quickly. A collector who had acquired the first and second generation of avatars expressed their anticipation, stating that the latest drop could potentially sell out “within minutes.” Simultaneously, other users commended Reddit’s marketing efforts, which successfully transformed the perception of non-fungible tokens, converting those who previously stood against NFTs to…