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Cryptocurrencies

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Technical Analysis – ETHUSD pulls back from 2-month high

Posted on May 30, 2024 at 1:11 pm GMT

· ETHUSD posts fresh 2-month high following ETF approval · But sustains some losses as advance seems overstretched · Momentum indicators ease from overbought conditions ETHUSD (Ethereum) has been on the rise after claiming the 50-day simple moving average (SMA) in mid-May. Moreover, the regulatory approval of spot-Ethereum ETFs in the US boosted the price to a fresh two-month peak of 3,974 before erasing some gains. Should the latest weakness persist, the price could challenge 3,690, a region that has [..]

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Speculation of spot ether ETF refuels crypto rally – Crypto News

Posted on May 22, 2024 at 12:53 pm GMT

Ether leads revived rally in cryptocurrencies on ETF hopes SEC reportedly U-turns on possible approval of spot ether ETF But can the latest rally be sustained? Ether ETFs move a step closer Ether – the second most popular cryptocurrency – is having its best week since August 2021 amid renewed speculation that the US Securities and Exchange Commission (SEC) is about to approve the first spot ether Exchange Traded Fund (ETF). Based on the Ethereum platform, ether has enjoyed an [..]

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Technical Analysis – ETHUSD heads towards 2024 highs on ETF approval hopes

Posted on May 21, 2024 at 2:04 pm GMT

ETHUSD set to notch up a second straight day of sharp gains Hopes of spot ether ETF trigger broad-based crypto rally But danger that upswing is becoming overstretched   ETHUSD (ether) has charged through its 50-day simple average (SMA) to make a fresh bid for the March peak of 4,093.70, which was a more than two-year high. The surge comes on renewed speculation that an approval by the US Securities and Exchange Commission for a spot ether ETF is imminent. [..]

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Bitcoin rangebound above $60,000 ahead of US CPI test – Crypto News

Posted on May 15, 2024 at 8:22 am GMT

Bitcoin determined to hold onto $60,000 handle But bulls struggle amid lack of upside pressure US CPI data could decide the next course of action A lacklustre performance Crypto markets appear to have entered a more neutral phase after Bitcoin’s highly anticipated halving event on April 20 passed without much fanfare. Bitcoin is leading this range-bound trading among the big digital currencies, as aside from the fact that the halving effect was fully priced in prior to the actual event, [..]

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Bitcoin finds support from a weaker dollar – Crypto News

Posted on May 10, 2024 at 11:51 am GMT

Bitcoin stabilizes above $60,000 as softness in greenback offers relief But the technical structure of lower highs and lows remains in place Regulatory woes re-emerge as markets await approval of Ethereum ETFs   Bitcoin slide pauses The flagship cryptocurrency has come under significant selling pressure following the successful completion of the fourth halving event on April 19, underscoring investors’ belief that the impact of the event had been already baked into Bitcoin’s price. Therefore, with idiosyncratic risks out of the [..]

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Technical Analysis – BTCUSD retreats after unsuccessful test of 50-SMA

Posted on May 9, 2024 at 11:43 am GMT

BTCUSD drops after failing to claim 50-day SMA The price extends its series of lower highs and lows Momentum indicators are tilted to the downside BTCUSD (Bitcoin) had been in a slow but steady recovery since its bounce off the two-month bottom of 56,483. However, the rebound faltered and the price reversed back lower following its second unsuccessful attempt to conquer the 50-day simple moving average (SMA). Should Bitcoin extend its pullback, the March-April support of 59,400 might curb initial downside attempts. [..]

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Bitcoin licks wounds as Fed comes on the rescue – Crypto News

Posted on May 3, 2024 at 12:05 pm GMT

Bitcoin posts 2-month low on expectations of slower rate cuts But cryptos breathe a sigh of relief after dovish Fed meeting The launch of Hong Kong listed spot ETFs disappoints   Bitcoin gains but lacks bullish long-term catalysts The king of cryptos has come under selling pressures lately, especially following the successful completion of the fourth halving event on April 19. As both the launch of spot-Bitcoin ETFs and halving event are now behind us, it seems that there is nothing positive left [..]

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Bitcoin slips as markets pare back Fed rate cuts – Crypto News

Posted on April 26, 2024 at 11:47 am GMT

Halving proves to be a non-event for Bitcoin Expectations of fewer rate cuts weigh on cryptos Hong Kong ETFs might improve demand outlook   Successful halving but no fireworks Last week, the much-anticipated halving event took place but as most had expected the market reaction was relatively muted. In a nutshell, it seems that the post-halving boost had already been baked in the price, given Bitcoin’s exponential rally from around $15,000 to fresh all-time highs within less than two years. [..]

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Technical Analysis – BTCUSD retreats after unsuccessful test of 50-SMA

Posted on April 25, 2024 at 1:47 pm GMT

BTCUSD regains ground in the halving aftermath But the price gets rejected at the 50-day SMA Momentum indicators are tilted to the downside BTCUSD (Bitcoin) had been in a slow but steady recovery after the completion of the halving event on April 19, erasing a significant part of its recent slump. However, the rebound appears to be on pause for now following the price’s inability to conquer the 50-day simple moving average (SMA). Should Bitcoin reverse lower, the March support of 62,500 [..]

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Bitcoin slides ahead of halving event – Crypto News

Posted on April 18, 2024 at 2:48 pm GMT

Bitcoin drops to its lowest in six weeks, a tad below $60,000 Geopolitical tensions and slower rate cuts weigh on cryptos Focus shifts on halving event expected between April 19 and 20   Bitcoin dips as market turn risk-off This has been a harsh week for Bitcoin, which has not yet been able to find traction after posting its biggest intraday loss since March 2023 in the aftermath of the Iranian missile attack against Israel. Besides geopolitical concerns, the repricing around [..]

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