Ethereum Reclaims Key Support At $1,574 – Here’s The Next Price Target
Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.
Crypto Analyst Who Called Ethereum Price Dump Says ETH Is Now Undervalued, Time To Buy?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Crypto analyst Doctor Profit, who called the Ethereum price dump, is now providing a bullish outlook for ETH. Based on his analysis, now might be a great time to buy Ethereum, which has so far underperformed other top cryptocurrencies. Analyst Says ETH Is Now Undervalued Following Ethereum Price Dump In an X post, Doctor Profit stated that ETH is undervalued now following the Ethereum price dump. He noted that the leading altcoin is sitting at a historical support at $1,800, the same support he had predicted that ETH would dump to. With this massive correction and fear in the market driving Ethereum to this support level, the analyst claimed that the altcoin is undervalued now. Related Reading His analysis suggests that now might be a great time to accumulate ETH as the Ethereum price could rebound from this historical support. Indeed, some investors are already using this massive correction as an opportunity to stack up more coins. IntoTheBlock data shows that Ethereum’s ‘Concentration’ metric is currently bullish, indicating that ETH whales are adding to their positions. Besides Doctor Profit, crypto analyst Astronomer also believes that ETH is currently undervalued and predicts that the Ethereum price could revisit $4,000. He highlighted several technical signals that indicate that the leading altcoin could reach these highs. The analyst also alluded to the $1,800 support, noting that this range has historically been a launch pad for price recoveries. However, crypto analyst Kledji has predicted that the Ethereum price could still drop to as low as $1,400 before rebounding. He stated that ETH will likely consolidate around this range for a while before it rallies to this $1,400 target later this month. His analysis suggested that the altcoin’s downtrend depended on Bitcoin’s performance. Therefore, if BTC recovers from this range, ETH will unlikely drop to that $1,400 level. ETH’s Dominance Is On The Decline, But History Could Repeat Itself In an X post, crypto analyst Rekt Capital revealed that ETH’s dominance has dropped from 20% to 8% since June 2023 as a result of the Ethereum price dump. He then noted that Ethereum’s dominance has historically reversed this 8% zone to become more market-dominant. The analyst then raised the possibility of history repeating itself, with ETH recovering well and enjoying a higher market dominance. Source: Rekt Capital on X Crypto analyst Crypto Patel is also confident that the Ethereum price will rebound soon. His accompanying chart showed that ETH could bounce from this $1,800 support and enter phase 3 of the Wyckoff chart, sending its price to as high as $6,800, a new all-time high (ATH). Related Reading: Ethereum Price: Analyst Predicts ‘Most Hated Rally In Crypto’ At the time of writing, the Ethereum price is trading at around $1,800, up over 1% in the last 24 hours, according to data from CoinMarketCap. ETH trading at $1,812 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com
Bitcoin’s Bullish Fate Hinges On These 2 Resistance Zones – Details
The Bitcoin (BTC) market continues to remain in consolidation following another trading week with no convincing price breakout. As multiple analysts continue to speculate on the asset’s next movement, prominent market expert Ali Martinez has identified two resistance zones that could be pivotal to reigniting a crypto bull run. Bitcoin Must Break Past $85,470 And $92,950 – Here’s Why Over the past month, Bitcoin has struggled to maintain a sustained uptrend, with investor uncertainty dominating the market. During this period, the leading cryptocurrency has faced multiple rejections, most notably at the $85,000 and $88,000 resistance levels. However, in an X post on Friday, Martinez identified the two resistance zones critical to a Bitcoin bull rally using on-chain data from IntoTheBlock. According to the crypto analyst, the first resistance lies at $85,470 which marks the upper boundary of a price barrier that begins at $83,023. Notably, 1.13 million wallet addresses have traded 607,200 BTC within this price range suggesting a strong historical activity that backs potential heavy selling pressure at these levels. If Bitcoin bulls can push past this initial threshold, the next resistance zone lies at $92,950 – the lower boundary of another price ceiling that extends to $95,514. Compared to the initial resistance, this zone has seen lower investor participation, with 795,830 active wallet addresses. However, its potential market impact is more significant, as approximately 627,410 BTC have been traded within this range. If Bitcoin can successfully clear both resistance zones, Ali Martinez postulates the premier cryptocurrency could enter a prolonged uptrend and resume its bull rally. However, Bitcoin bulls must avoid any price fall below a crucial support zone at the $80,450 price level. According to the on-chain data presented, the $80,450 level represents the lower boundary of a key support zone, which extends up to $82,907. Within this range, approximately 516,770 BTC have been transacted, involving around 738,580 active wallet addresses. This data indicates substantial buying activity that could serve as a buffer in the advent of a price fall. Bitcoin Fees Fall By 57% In other developments, IntoThe Block also reports that Bitcoin network fees dropped by 57.3% in the past week indicating a decline in user engagement and general investor activity. Albeit, the premier cryptocurrency has shown only a minor 0.11% decline in price during this period. Following the recent announcement of new US tariffs on imports, Bitcoin and the broader crypto market have responded more positively compared to previous tariff-related news. Ryan Rasmussen, Head of Research at Bitwise Invest, notes that Bitcoin has risen by 2.2% since the announcement on April 2. In contrast, traditional stock markets have seen notable losses, with the “Magnificent Seven” falling by an average of 12.18%.
Bitcoin Price Risks Further Crash As S&P Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Crypto analyst Tony Severino has warned that the Bitcoin price risks a further crash. This came as he revealed a critical technical indicator, which has turned bearish for the flagship crypto, although he noted that BTC bulls can still invalidate this current bearish setup. Bitcoin Price At Risk Of Further Crash As S&P Monthly LMACD Turns Bearish In an X post, Severino indicated that the Bitcoin price could crash further as the S&P 500 monthly LMACD has begun to cross bearish and the histogram has turned red. This development is significant as IntoTheBlock data shows that BTC and the stock market still have a strong positive price correlation. Related Reading The crypto analyst stated that BTC bulls can turn this bearish setup for the Bitcoin price in the next 20 days, as diverging would lead to a bullish setup instead. However, the Bulls’ failure to turn this around for Bitcoin could lead to a massive decline for the flagship crypto, worse than it has already witnessed. BTC at risk of deeper decline | Source: Tony Severino on X Severino stated that a confirmation of this bearish setup at the end of the month could kick off a bear market or Black Swan type event similar to what happened when the last two crossovers occurred. It is worth mentioning that BTC has already crashed to as low as $76,000 recently, sparking concerns that the bear market might already be here. However, crypto experts such as BitMEX co-founder Arthur Hayes have suggested that the bull market is still well in play for the Bitcoin price. Hayes noted that BTC has corrected around 30% from its current all-time high (ATH), which he remarked is normal in a bull run. The BitMEX founder predicts that the flagship crypto will rebound once the US Federal Reserve begins to ease its monetary policies. BTC Still Looking Good Despite Recent Crash Crypto analyst Kevin Capital has suggested that the Bitcoin price still looks good despite the recent crash. In his latest market update, he stated that BTC remains the best-looking chart and that everything is going according to plan for the flagship crypto. The analyst predicts that Bitcoin could still come down and test the range between $70,000 and $75,000, which he claims would still be completely fine. Related Reading Kevin Capital remarked that the Bitcoin price could remain afloat if it holds a key market structure and the 3-day MACD resets. He added that some decent macro data could help the flagship crypto stay above key support levels. The US CPI data will be released today, which could provide some relief for the market if it shows that inflation is slowing. The analyst is confident that one good inflation report and the FOMC can help turn the tides. At the time of writing, the Bitcoin price is trading at around $81,860, up over 2% in the last 24 hours, according to data from CoinMarketCap. BTC trading at $82,426 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
Shiba Inu Millionaire Numbers Fall Below 1,000 After Market Crash, How Much Do They Control?
Este artículo también está disponible en español. The number of Shiba Inu millionaires continues to decline as the recent market crash puts a damper on holder’s profits. Notably, on-chain data reveals that the total number of Shiba Inu millionaires has fallen below 1,000. However, they still control a significant portion of the meme coin’s supply. SHIBMillionaires Drop Below 1,000 Following a broader market crash that significantly impacted meme coins like SHIB and DOGE, new reports reveal that the number of Shiba Inu millionaires, with wallets between $100,000 and $10 million, has declined severely. IntoTheBlock, a blockchain analytics company, has reported that the number of addresses holding $10,000 to $10 million worth of SHIB tokens has dropped to 2,470. These deep-pocketed token holders collectively control over $3.5 billion worth of SHIB. Related Reading Breaking this down, ITB’s data shows that wallets holding over $100,000 to $1 million have plummeted to 1,059 addresses. For wallets with $1 million to $10 million worth of SHIB, ITB highlights that only 880.25 addresses remain. This would mean that all addresses with over $1 million in SHIB have a total balance of $2.8 billion. Earlier this week, 75 addresses held exactly or above $10 million worth of SHIB tokens, with a combined network surpassing $13 billion. However, at the time of writing, it has declined to 74, with a network of $11.69 billion. While the number of addresses for this staggering amount of SHIB tokens may appear small, these investors, often called whales, tend to impact the market when they make significant moves. Moreover, this select number of addresses controls a large amount of Shiba Inu’s supply. While it doesn’t even come close to half of the meme coin’s total supply, it is still a considerable stash that could impact its market dynamics. The recent decline in Shiba Inu millionaires is reflected in past data from ITB. Just two weeks ago, 93 addresses, 19 more than the current count, held SHIB tokens valued at over $10 million. Furthermore, 905 wallets held between $1 million and $10 million worth of SHIB, compared to the current 880.25 addresses holding the same amount. This notable decrease in the number of Shiba Inu millionaires in both high-value and mid-value SHIB holdings suggests a shift in the market, with holders possibly selling their holdings and exiting positions. The decline is also attributed to the recent Shiba Inu price crash and ongoing volatility. Shiba Inu Price Attempts A Recovery At press time, the price of Shiba Inu is trading at $0.0000165. Despite experiencing major market declines that pushed its price down by more than 20%, Shiba Inu remains resilient, attempting to break through the bearish trend to initiate a recovery. Related Reading Over the past week, Shiba Inu has increased by over 9.8%, reflecting gains of almost half its 22% loss in the last month. Based on CoinMarketCap’s data, the meme coin is still in the green, recording a 1% increase. However, SHIB’s trading volume remains relatively low, marking a 41% decline. SHIB trading at $0.000016 on the 1D chart | Source: SHIBUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com Source link
Chainlink Price Could Start ‘New Bull Rally’ – Here’s The Level To Watch
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world. Source link
AVAX Price Continues To Consolidate Around $35 — Here Are The Levels To Watch
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world. Source link