Ethereum (ETH) Rebound Approaching Crucial Resistance

Ethereum price is currently correcting losses after it traded as low as $$153 against the US Dollar. Bitcoin price is struggling to recover above the $7,500 and $7,600 resistance levels. This week’s followed bearish trend line is still active with resistance near $164 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong resistance near the $164 and $165 levels in the near term. Ethereum price is slowly rebounding versus the US Dollar, while bitcoin is still struggling. ETH price must climb…

Eyeing African Market, Binance Adds Nigerian Fiat-to-Crypto Gateway

Binance has added a fiat-to-crypto gateway for Nigeria’s Niara (NGN), the company said. Facilitated by payments network Flutterwave, the addition starts a new phase of Binance adding sub-Saharan fiat pairs, the company said in a statement. In “the near future” the high-volume global exchange will also introduce gateways for South Africa’s Rand (ZAR) and Kenya’s Shilling (KES), Binance said. At launch, Binance limited the Nigerian trading pairs to BUSD/NGN, BNB/NGN and BTC/NGN. Investors can deposit between 150 NGN (about $.40) and 430,000 NGN (about $1,200) for a 1.4% fee, Binance…

Telegram Investors Stick With TON Plans Despite SEC Injuction

Telegram investors have turned down the offer of a refund on their investment in the TON ICO despite an injunction by the SEC delaying the launch of the network. Telegram, which is an important part of the crypto ecosystem due to its encrypted communication abilities, has been embroiled in a dispute with the US Securities and Exchange Commission, which argues that its planned blockchain, Telegram Open Network (TON), is a security, meaning the ICO was actually illegal. The commission issued an injunction last week preventing the company from launching TON…

No Bitcoin Price Breakout for Another Year; Here’s Why

A zoomed out version of the bitcoin chart shows it would take the cryptocurrency another 365 days to achieve a full-fledged upside breakout. Brought to notice by Teddy Cleps, a prominent cryptocurrency analyst, the weekly Bitcoin chart shows the possibility of it forming a massive bullish pennant. In retrospective, a Pennant structure marks a pause in the price movement of an asset midway, followed by a strong breakout in the direction of the trend. However, if the formation lasts longer than four weeks, traders often start treating the Pennant as…

Tencent Admits Facebook’s Libra Is a Threat to WeChat Pay

Facebook’s Libra stablecoin would be a serious threat to WeChat Pay, the payment service’s parent company Tencent admitted in a recent blockchain whitepaper. Asian news outlet EjinSight reported on Oct. 24 that in the document Tencent acknowledges that international expansion of Chinese mobile payments offerings would be threatened if Libra launched. In the newly released whitepaper, Tencent illustrated the effectiveness of Libra’s expansion strategy: “It’s a safe play resorting to the strategy of ‘encircling the cities from the rural areas,’ in which Libra coin could quickly enter markets with underdeveloped…

Bitcoin (BTC) Price Won’t Go Quietly, Risk of Bounce Grows

Bitcoin price is down more than 8% and it dived below $7,500 against the US Dollar. The price is currently correcting higher after trading to a new monthly low near $7,300 There are two connecting bearish trend lines forming with resistance near $7,450 and $7,660 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is trading near key supports and it could correct higher towards $7,660 and $7,700. Bitcoin price is down around $1,000 this week against the US Dollar. BTC bears need to be…

Bitcoin And Crypto Market Nosedives: BCH, EOS, TRX, ADA Analysis

The total crypto market cap is down more than 10% and it broke the $200.0B support area. Bitcoin price declined heavily and traded below the $7,500 support area. EOS price is down more than 8% and it traded close to the $2.500 support area. BCH price is still holding the main $200 support area, with positive signs. Tron (TRX) price is trading just below the $0.0145 support area. Cardano (ADA) price spiked below $0.0385 and traded close to the $0.0350 support area. Bitcoin and the crypto market cap are down…

Ripple (XRP) Price Rebounding After Sharp Drop To $0.2500 Support

Ripple price declined heavily after it broke the key $0.2850 support area against the US dollar. The price tested the main $0.2500 support area and it is currently rebounding above $0.2650. There is a major bearish trend line forming with resistance near $0.2800 on the hourly chart of the XRP/USD pair (data source from Kraken). There is showing signs of a strong recovery and it might rebound towards the $0.2850 resistance. Ripple price is correcting losses against the US Dollar and bitcoin. Recently, XRP price dived close to 10%, but…