Ethereum Ethereum rose by 1.47% on Friday. Partially reversing an 8.66% tumble from Thursday, Ethereum ended the day at $2,147.38. A mixed start to the day saw Ethereum slide to an early morning intraday low $2,050.00 before making a move. Steering clear of the first major support level at $2,026, Ethereum rallied to an early afternoon intraday high $2,189.28. Falling short of the first major resistance level at $2,267, Ethereum fell back to $2,121 levels before steadying. At the time of writing,… Source link

Cryptocurrencies traded higher on Friday after a volatile week. Bitcoin was holding above $33,000 support at press time and is roughly flat for the week. Technical charts suggest buyers will remain active above $30,000, although upside momentum is starting to slow heading into the weekend.  “The possibility of price action dropping into the mid-$20,000 range is alive, but traders looking for a retest of previous all-time highs will likely be disappointed,” Sean Rooney, head of research… Source link

It’s turning out to be a boring summer for directional traders in the bitcoin market: The cryptocurrency has gone comatose in a narrow range above $30,000, less than half the all-time high reached just two months ago.  But some options traders are busy as ever, taking relatively high-risk strategies to profit from the cryptocurrency’s continued price consolidation. One of those strategies involves putting on “short strangles,” essentially a bet that bitcoin’s price won’t break… Source link

Cryptoculture Cryptocurrencies are best understood by examining the community structure and cultural values they exhibit, rather than the economic activity they create. Cryptocurrencies are really “cryptocultures” and these cultures are many, a plurality. I define a cryptoculture as an open source community with its own micro-economy. Each culture embeds its values into their blockchain. It’s a sociotechnical arrangement: The values and technology are mixed up with one another. Dr. Paul… Source link

Bitcoin goes into the typically low volume weekend with a sense of relief after it finally managed to climb above the $33,000 level of resistance on Friday. The apparent breakout follows a frustrating 24-hours in which the world’s largest cryptocurrency failed to conquer $33,000 despite five meaningful attempts. Attention will now turn to where Bitcoin futures will close on CME at 11pm UTC this evening. A close above $33,400 should signal that the cryptocurrency market will be relatively… Source link

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Ethereum Ethereum tumbled by 8.66% on Thursday. Following a 0.23% decline on Wednesday, Ethereum ended the day at $2,116.95. A mixed start to the day saw Ethereum rise to an early morning intraday high $2,325.46 before hitting reverse. Falling short of the first major resistance level at $2,387, Ethereum slid to a late intraday low $2,084.00. The extended sell-off saw Ethereum fall through the day’s major support levels before finding support. Late in the day, Ethereum moved back through the… Source link

Cryptocurrencies traded lower on Thursday as regulatory concerns resurfaced. Bitcoin broke below initial support at $34,000 and is down about 5% over the past 24 hours. The cryptocurrency could stabilize around $30,000, which is the bottom of the month-long trading range.  There is a lack of a “real catalyst or market-moving events right now,” wrote QCP Capital in a Telegram chat. “We expect volatility to remain under pressure until mid [to] late August.” “With BTC, we have seen… Source link

Over the past week, astute crypto market analysts noticed some interesting developments related to the supply of Ether (ETH) as the network’s August 4 London hard fork approaches. Recent data from CryptoQuant, an on-chain analytics firm, indicates that the amount of Ether held in cryptocurrency exchanges’ reserves has hit new daily lows since the start of July. Ethereum all exchange reserves. Source: CryptoQuant To determine if this is a bullish or bearish development for the top altcoin,… Source link

Text size Sen. Pat Toomey leaves the Senate chamber during a recess in the Senate impeachment trial of U.S. President Donald Trump in Washington, D.C. Drew Angerer/Getty Images Sen. Pat Toomey, who recently pushed for less-burdensome cryptocurrency regulations, has disclosed investments in Bitcoin and Ethereum. The… Source link