Bitcoin’s mining industry has been relatively stable compared to the bearish price action and the tumultuous fallout of exchanges and lending companies. The network’s hashrate dipped slightly toward the end of 2022, primarily due to an unprecedented blizzard in the U.S., and has since recovered strongly to surpass its previous peak above 270 EH/s. It was particularly encouraging to see that the hashrate holding well above summer 2022 lows, despite the aftermath of FTX collapse. Bitcoin 7-day average hash rate. Source: Glassnode However, despite the recent robustness in a variety…
Tag: Key
Expected to Play a Key Role in Making Web3 Compliance Seamless, Astra Protocol Launches Native Token – CryptoMode
Astra Protocol, a decentralized KYC platform for Web3, introducing the financial regulatory standards for more than 150 countries and over 300 sanctions to the crypto industry, launched its $ASTRA token on multiple significant exchanges on January 16th, 2023. A fixed supply utility token, with a total of 1 billion minted, the $ASTRA token will work as a unique SAAS (Software as a Service). Platforms will stake the token to access Astra’s KYC services. KuCoin and MEXC, two of the most well-known exchanges in the crypto world, are facilitating trades in…
Ethereum Price Key Indicators Suggest Strengthening Case For Upside Break
Ethereum remained supported above the $1,240 level against the US Dollar. ETH is rising and might soon attempt an upside break above the $1,300 barrier. Ethereum remained well bid above the $1,240 and $1,220 levels. The price is now trading above $1,260 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase if there is a clear move above the $1,300 barrier. Ethereum Price Eyes…
Bitcoin Price Starts Technical Correction, Here’s Key Support To Watch
Bitcoin price traded above the $17,000 resistance. BTC is correcting gains and might decline towards the $16,650 support zone in the near term. Bitcoin gained pace and cleared the $17,000 and $17,200 resistance levels. The price is trading above $16,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $16,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower towards the $16,650 and $16,500 support levels. Bitcoin Price Faces Bears Bitcoin…
Bitcoin Price Stuck In Key Range, Why The Bulls Are Comfortable
Bitcoin price corrected lower below the $19,500 level against the US Dollar. BTC remains in a key range and trading above the $19,000 support zone. Bitcoin failed to gain strength above $19,600 and corrected gains. The price is trading near $19,250 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase unless there is a clear move below the $19,000…
Binance Coin (BNB) Bulls Defends Key Zone, Will The Give Up?
BNB price creates mixed feelings on the high timeframe as price forms a descending triangle on the daily chart while an ascending triangle forms on the weekly chart. BNB looks more stable as the price aims to flip the $340 resistance to set up a bullish sentiment. The price action of the Binance Coin (BNB) continues to look strong despite the price forming a bilateral chart pattern on the daily and weekly timeframe. Surprisingly Bitcoin (BTC) movement in a range has had little effect on the price of Binance Coin…
Ethereum Price Eyes Fresh Surge, 100 SMA Holds The Key
Ethereum recovered losses and climbed above the $1,320 level against the US Dollar. ETH could start a fresh increase if there is a clear move above $1,350. Ethereum found support near the $1,250 level and recovered losses. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a short-term contracting triangle forming with support at $1,340 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a clear move above the $1,350 resistance zone.…
Ethereum Price is Showing Early Signs of Fresh Rally, But $1,400 is the Key
Ethereum is gaining pace above $1,360 against the US Dollar. ETH could start a fresh rally if there is a clear move above the $1,400 resistance zone. Ethereum is showing positive signs above the $1,320 and $1,350 support levels. The price is now trading above $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,342 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it clears the key $1,400 resistance…
Bitcoin Price Holds Ground, Why Close above $20K Is The Key
Bitcoin is holding the key $18,500 support zone against the US Dollar. BTC must settle above the $20,000 resistance zone to move into a positive zone. Bitcoin is struggling to gain momentum above the $19,500 resistance zone. The price is trading below $19,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the $19,500…
Solana Holds Key Support To Avoid Drowning, How Long Can This Last?
The price of Solana (SOL) has been volatile against tether (USDT), causing more pain for hodlers. Despite showing such strength, the price of Solana (SOL) has risen from $30 in recent weeks to around $45, as many investors hoped for more relief rallies to around $60. Solana (SOL) prices were rejected and have continued to fall with no significant bounce. (Data from Binance) Solana (SOL) Price Analysis On The Weekly Chart SOL’s price dropped from $250 to around $30, representing a drop of more than 70% from its all-time high.…