Day: July 17, 2022

Ethereum Outpaces Bitcoin, Why ETH Could Rise To $1,500

Aayush Jindal

Ethereum started a major increase above the $1,200 resistance against the US Dollar. ETH even climbed above $1,400 and might rise further towards $1,500. Ethereum gained bullish momentum after there was a close above $1,250. The price is now trading above $1,350 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,325 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $1,420 resistance zone. Ethereum Price Gains Pace Ethereum moved…

Bitcoin Hodlers are Unwilling to Spend at Lower Prices as Most Coins Remain Untouched

Brian Njuguna

Despite the bearish momentum experienced in the Bitcoin (BTC) market, long-term hodlers remain steadfast because they are not selling. Market insight provider Glassnode explained: “Over 80% of the total USD denominated wealth invested in Bitcoin has been hodled for at least 3-months. This signifies that the majority of the Bitcoin  supply is dormant, and hodlers are increasingly unwilling to spend at lower prices.” Source:Glassnode   This correlates with the fact that Bitcoin’s balance on exchanges recently reached a 4-year low. BTC leaving crypto exchanges symbolizes a hodling culture,…