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Category: ETHUSD

Germany’s Institutional Funds Can Hold 20% In Crypto Starting August 2

There could be a flood of institutional investments coming from Germany starting next week. On Monday, August 2, a law is coming into effect that allows Germany’s institutional investors – under the Spezialfonds category – to invest in Bitcoin (BTC) and other cryptocurrencies. Institutional players like pension funds and insurers can access these funds. Together,

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TA: Ethereum (ETH) Outpaces Bitcoin, Why Bulls Aim Larger Increase

Ethereum is up over 5% and it broke the $2,400 resistance against the US Dollar. ETH price outpaced bitcoin and it seems like there are chances of more gains above $2,450. Ethereum started a fresh increase and it managed to surpass the $2,320 resistance zone. The price is now trading well above $2,300 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,340 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls are likely to remain active near $2,390 and $2,350. Ethereum Price is Gaining Pace Ethereum formed a support base above $2,250 and started a fresh increase, outpacing bitcoin. ETH price gained strength and it broke the main $2,300 and $2,320 resistance levels. The price even surged above the $2,400 level and the 100 hourly simple moving average. It opened the doors for more gains and the price traded as high as $2,450 level. It is now correcting gains from the $2,450 resistance zone. Ether is approaching the 23.6% Fib retracement level of the upward wave from the $2,303 swing low to $2,451 high. The first major support is near the $2,390 and $2,380 levels. It is near the 50% Fib retracement level of the upward wave from the $2,303 swing low to $2,451 high. There is also a major bullish trend line forming with support near $2,340 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The next key support is near the $2,280 level and the 100 hourly simple moving average. A clear downside break below the $2,280 support zone could lead the price towards the $2,200 support. More Gains in ETH? If ethereum remains stable $2,340, it could continue to rise in the near term. An immediate resistance on the upside is near the $2,450 level. A clear break and close above $2,450 might start another steady increase. In the stated case, the price could easily rise towards the $2,500 level. The next key resistance is near the $2,550 level, above which the price might test $2,680 in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now correcting lower from the overbought zone. Major Support Level – $2,340 Major Resistance Level – $2,450
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Is Chinese Tech Giant Tencent Planning to Enter NFT Market Soon?

Amid the growing craze for NFTs among Chinese investors, it looks like Chinese tech giant Tencent is planning to enter the NFT market soon. In an exclusive update, popular Chinese journalist Colin Wu reported: “China’s largest Internet company Tencent will enter the NFT, including music, games, news content, etc.” Exclusive: China’s largest Internet company Tencent

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Standard Chartered led crypto custody venture Zodia Custody gets FCA approval

Zodia Custody, an institutional-grade crypto asset custody solution provider has announced it has got the approval of the Financial Conduct Authority (FCA), i.e., the platform can now provide commercial services as a crypto asset business. Zodia Custody is a product by Standard Chartered’s SC Ventures, and Northern Trust, a leading asset servicing provider. It serves

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DOT Price Analysis: Polkadot (DOT) Jumps 40% off Weekly Lows, Here Are Important Levels to Watch

-DOT pushes 40% off weekly low -DOT Price is still stuck within a descending channel -200MA has continued to act as resistance Polkadot Price Overview Polkadot has been flat the last few days as prices have stalled near important resistance. The overall cryptocurrency market has pushed very strong off lows, a type of revival not

The post DOT Price Analysis: Polkadot (DOT) Jumps 40% off Weekly Lows, Here Are Important Levels to Watch appeared first on Coingape.

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XRP Price Analysis: XRP Jumps 20% in Past 24 hrs, Will Price Break $1?

-XRP price has pumped 20% over the past day -200MA is acting as support for the first time in over 2 months -XRP Price is getting rejected at resistance of $0.73 XRP Price Overview XRP has had a wild last 24 hours of trading as it was once the highest gainer in the top 100

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Ethereum, Dogecoin Price Analysis: July 29, 2021

Ethereum has a challenging time sustaining the uptrend to $2,400. Dogecoin faces an uphill battle sustaining its position above $0.2. The cryptocurrency market is slightly bullish on Thursday, with assets posting minor gains, according to data by CoinGecko. Ripple is the best-performing cryptocurrency, following the massive 20% gain on Wednesday. However, a retreat is underway,

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TA: Ethereum (ETH) Topside Bias Vulnerable If It Struggles Below $2.3K

Ethereum is struggling to gain pace above $2,300 and $2,320 against the US Dollar. ETH price could decline sharply if there is a break below $2,220. Ethereum is showing a few bearish signs below the $2,320 resistance zone. The price is still above the $2,200 zone and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair must settle above $2,320 for more upsides in the near term. Ethereum Price is Facing Hurdles Ethereum remained stable above the $2,200 support zone, similar to bitcoin near $38,000. However, ETH price seems to be facing a strong resistance near the $2,320 zone. The bulls made a couple of attempts to gain strength above $2,320, but they failed. A high was formed near $2,346 and the price is now correcting gains. It traded below the 23.6% Fib retracement level of the upward move from the $2,153 swing low to $2,346 high. The bulls are now protecting the $2,280 level. There is also a key bullish trend line forming with support near $2,280 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com The next key support is near the $2,250 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the upward move from the $2,153 swing low to $2,346 high. The main support is now near the $2,220 and $2,200 levels. A clear downside break below the $2,200 support zone could set the pace for a larger decline. The next major support could be near the $2,120 level, followed by the main $2,050 support zone. Upside Break in ETH? If Ethereum remains stable $2,220, it could attempt an upside break. An immediate resistance on the upside is near the $2,320 level. A clear break and close above $2,320 could set the pace for a larger increase. In the stated case, the price could easily rise towards the $2,400 level. The next key resistance is near the $2,450 level, above which the price might test $2,500 in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now struggling to stay above the 50 level. Major Support Level – $2,220 Major Resistance Level – $2,320
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China’s CBDC e-CNY a Certain Step to Internationalize the Use of Renminbi

Chinese central bank is all keen on internationalizing the use of the national currency Renminbi (RMB) in the international market, and its central bank digital currency is a key step in this direction. The PBoC is confident that promoting the use of e-CNY will make RMB the world’s third-largest currency in terms of trade, settlements,

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Abu Dhabi court orders 10-year Jail for 9 accused in crypto money case

9 crypto money laundering culprits were sentenced to a decade in jail time and Dh10 million in fine, each by a criminal court in Abu Dhabi. Along with the individuals, over 6 companies have also been proven guilty of crypto money laundering allegations. The racket accumulated a total of Dh18 million in stolen funds from

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Pro-BTC Senator defends crypto against Sen. Warren’s “Shadowy Super-Coders” comment

Cynthia Lummis, Bitcoin supporter, and the US Senator from Wyoming has tweeted defending the crypto sphere against Senator Elizabeth Warren’s comments. Senator Warren had accused the decentralized system to be guided by “Shadowy Super-Coders”, to which Cynthia Lummis has publicly taken a contradictory stance. Lummis highlighted how the crypto market is run by open-source developers,

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What happened to Vitalik’s $1 Billion Shiba Inu Donation To Crypto Relief Fund?

When the second wave of Covid run havoc in India leading to the extreme shortage of medical supply and hospital infrastructure, the crypto community came forward for help. Indian crypto entrepreneur and co-founder of Ethereum second-layer scaling solution Polygon (earlier Matic) Sandeep Nailwal launched a crypto covid relief fund. The relief fund was created in

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AAVE Price Analysis: Is It A Good Time to Long AAVE? Price Up by 40% Over last Week

AAVE price revives nearly 40% off the low set this week AAVE price has just broken & retested 2 month bear trend 400 MA is holding as support AAVE Price Overview AAVE price has held fairly well over the last few months compared to other DeFi coins in its class. AAVE offers a very useful

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LUNA Price Analysis: Terra (LUNA) Price Jumps 70% Past Week, Is It A Good time to Buy LUNA?

LUNA has revived nearly 70% the past week LUNA Price has recently cleared its ascending channel resistance RSI is coiling right below the overbought value LUNA Price Overview LUNA price has held fairly well over the past couple months as most coins hit a new low throughout the last 2 weeks. LUNA has been continuously

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TA: Ethereum Prints Bullish Pattern, Why Close Above $2,300 Is Crucial

Ethereum remained supported near the $2,150 zone against the US Dollar. ETH price is rising, but a close above $2,300 is important for upside continuation. Ethereum found support near $2,150 and it started a fresh increase. The price is back above the $2,200 zone and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $2,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to gain strength if there is a close above the $2,300 and $2,320 levels. Ethereum Price Resumes Upward Move Ethereum remained well bid above the $2,150 and $2,120 support levels, similar to bitcoin. ETH price formed a base above $2,150 and it started a fresh increase. There was a break above the $2,200 resistance the 100 hourly simple moving average. Ether surpassed the 50% Fib retracement level of the downside correction from the $2,431 swing high to $2,151 low. There was also a break above a major contracting triangle with resistance near $2,260 on the hourly chart of ETH/USD. The pair is now trading near the $2,300 resistance. The first major resistance is near the $2,320 level. It is near the 61.8% Fib retracement level of the downside correction from the $2,431 swing high to $2,151 low. Source: ETHUSD on TradingView.com A close above the $2,320 level could set the pace for more gains. The next major barrier for the bulls could be near the $2,400 level, followed by $2,420. Any more upsides might call for a test of the $2,500 resistance zone in the near term. Dips Limited in ETH? If Ethereum fails to continue higher above $2,300 and $2,320, it could start a fresh decline. An initial support on the downside is near the $2,250 level. The first major support is near the $2,220 level and the 100 hourly simple moving average. The main support is now forming near the $2,200 level. Any more losses could lead the price back towards the $2,150 support zone. If the bulls fail to protect the $2,150 support, there are high chances of a larger decline. The next major support sits near the $2,050 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $2,200 Major Resistance Level – $2,320
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The Ominous Ethereum Comparison That Will Leave Bulls Petrified

All across finance, the conversation of the day has been centered around China and the ongoing regulatory crackdown  As it pertains to the crypto market and assets like Bitcoin and Ethereum, holders are wondering if there could be spillover effect and additional FUD that could on the ongoing recovery in play. But it is in the Tencent chart itself that suffered a devastating collapse today that should have Ethereum bulls worried due to a frightening comparison between the two. Making matters worse, knocking on wood won’t help, as the Lumber futures chart could help shed a light on what the next target might be for the top ranked altcoin. How The China Regulatory Crackdown Is Hurting Crypto, Chinese Stocks Ever since Black Thursday last year markets have been in an explosive uptrend. Bitcoin rallied more than three times its former all-time high, Ethereum nearly four times as much, and even the stock market is more than double the value it was more than one year ago. Cryptocurrencies corrected harshly a few months ago, but the stock market kept on climbing. The US stock market still is, although as of today the rally to new record highs has taken a pause – a pause due to fear related to a completely different region. Related Reading |  TA: Ethereum Trims Gains, Why ETH Could Restart Its Rally In addition to the country banning Bitcoin mining and causing other dramatic that hurt crypto prices, China has been rolling out a widespread regulatory crackdown that has crippled certain stocks in the country. For example, Tencent dropped more than 10% in the last 48 hours alone. Such a drop is nearly unheard of in the stock market, while that type of move is typically a walk in the park by crypto standards. An equally sized move in an altcoin like Ethereum, could be much worse by comparison. Let’s hope Ethereum doesn’t fall victim to a similar fate | Source: ETHUSD on TradingView.com Ethereum Chart Comparison Has Bulls Knocking On Wood A comparison with Tencent is exactly why crypto bulls need to be worried and fearful. The top altcoin that the rest of the industry is built on, is showing a structure very similar to Tencent before the massive breakdown. What’s worse, is the fact that almost all price action over the last three years between the two assets looks highly similar. Placing the two assets next to another once-trending asset that has since collapsed, further paints a frightening picture. Related Reading | Why The Next Crypto Bear Market Will Be The Worst Yet Random-length lumber futures have a chart that shows a drop so nasty, that if the same thing happened in Ethereum, it would take price per coin back to around $3725. The three charts appear to have bottomed at around the same level and date, topped around the same level and date, so why wouldn’t they continue to behave in a similar fashion? Not loving the similarities in these charts. Could #Ethereum follow this path? pic.twitter.com/filaaaFJMa — Tony “The Bull” Spilotro (@tonyspilotroBTC) July 27, 2021 What do you think, is Ethereum in trouble? Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
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NBA’s Sacramento Kings to launch first ever NFT ticket

The Kings are back with another innovative technology experience for their fans. US basketball team, Sacramento Kings has announced to begin trial for the first-ever Smart Ticket NFT Experience Pass. This limited edition NFT ticket will come with exclusive privileges and experiences. Sacramento Kings has signed a partnership agreement with Lava and Flow, the blockchain

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Bitcoin-Linked Stocks Surge as Crypto Market Sees Rejuvenation

The huge correlation between some key Wall Street firms and the cryptocurrency ecosystem was brought to the fore as the broader crypto rejuvenation stirred an upshoot in some Bitcoin-linked stocks. Having suffered a month-on-month regression in the combined market capitalization, the global cryptocurrency market has been placed on a path of revival following impressive news

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Binance-run Charity in Malta may face legal trouble

Binance-run Blockchain Charity Foundation is under threat of regulatory action in Malta as the commissioner for voluntary organizations Malta has warned the exchange over consecutive failures to file accounts for the past three years. The office of the commissioner claimed in a letter dated 23rd July that the world’s largest crypto exchange is guilty of

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Goldman Sachs Files for a Defi and Blockchain Equity ETF

The asset-management arm of the global investment banking giant Goldman Sachs has filed for a new crypto ETF based on securities of crypto-related companies and Defi protocols. The new ETF will be called Innovate Defi and Blockchain Equity ETF. As per the SEC filing on Monday, the firm would invest at least 80% of its

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