Text size Bitcoin may have just rallied, but crypto prices have all but collapsed in recent months. Dreamstime … Source link

A popular analyst is predicting if and when three cryptos can break out of the lingering market downtrend to achieve a short-term rally. Pseudonymous crypto trader Altcoin Sherpa tells his 180,000 Twitter followers he’s not encouraged by altcoins on their one-hour to daily high time frame [HTF] charts but thinks there could be temporary upside potential for certain projects. Sherpa thinks both Cosmos (ATOM) and layer-1 scaling solution NEAR Protocol (NEAR) can do well. “The… Source link

Bitcoin (BTC) approached the July 6 Wall Street open near $20,000 as a fresh battle between support and resistance loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Whale levels close by Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wedged in a tight trading range with liquidity creeping closer to spot on the day. After recovering 6% losses from the day before, order book data confirmed that support and resistance was now almost… Source link

Ethereum (ETH) climbed about 10 percent in the past 24 hours to $1,155, after coming close to falling back under $1,000. The world’s second-biggest cryptocurrency has experienced a robust comeback in a short span of time, with buying activity over the U.S. market holiday bolstering prices. But, can ETH sustain this rally? Or, will it be for the time being. This year, concerns about a U.S. economic slump and a slew of crypto bankruptcy have harmed the altcoin. In the previous 24 hours,… Source link

Ethereum price shows a multi-year rising wedge formation forecasting a brutal crash. The theoretical target projects an ETH bottom around the $500 region, suggesting a 50% nosedive from the current levels. A different take also shows that the bottom for this cycle could be much lower. Ethereum price performance has been extremely important in this cycle, considering the major paradigm shift that the ETH blockchain has created. From the 2020 DeFi Summer to NFTs, the… Source link

Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by 11% on some exchanges. Dollar-to-Peso Exchange Rate Plummets Due to Political Uncertainty in Argentina The rate that citizens in… Source link

The Ethereum Name Service (ENS) saw registrations spike over the weekend, with 64,000 .eth names created on Sunday and Monday alone. In the past week, 108,000 ENS domains were registered. This 216% increase, revealed in data published by lead ENS developer Nick Johnson, brought a notable spike in revenue. On Sunday, the ENS made $684,000—a half a million dollar increase compared to the previous day. The ENS manages the issuance and renewal of .eth domain names, which are built on Ethereum,… Source link

On-chain data suggested that June was the worst month for Bitcoin [BTC] considering the performance of the king coin since 2011. It took a dip of 37.5% over the month in an already catastrophic Q2. Feds, inflation, and now recession rumors are circling around the crypto market. How will these talks affect the BTC performance in the coming weeks? Despite the grievances during June, the month of July has bought some respite for Bitcoin. The entire crypto market is going through… Source link

A popular analyst is setting price targets for Ethereum challenger Solana (SOL) while forecasting what’s next for ETH and STEPN (GMT). Pseudonymous analyst Altcoin Sherpa tells his 179,900 Twitter followers he’s using the Fibonacci retracement tool to plot out support and resistance levels for Solana, noting things may go south for the smart contract platform if the $32 range (0.618 Fibonacci level) is lost. “I’m long, targeting high $30s. Will get out if 0.618 is lost… Source link

Bear markets in cryptocurrency are known to be painful, but the month of June was especially trying for the crypto faithful as a confluence of factors resulted in the price of Bitcoin (BTC) falling 37.9%, its worst monthly performance since 2011. Bitcoin monthly performance. Source: Glassnode. As a result of the continued widespread weakness, a majority of the so-called Bitcoin “tourists” have now exited the space, leaving only the most dedicated holders remaining, according to blockchain… Source link