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Cryptocurrencies

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Bitcoin consolidates below $20,000 as macro headwinds mount – Cryptocurrency News

Posted on September 30, 2022 at 1:37 pm GMT

During the past week, Bitcoin and most major altcoins have been trading within a range, exhibiting remarkable resilience amid increasing economic uncertainty and a broader stock market decline. What’s more, apart from signs of a weakening correlation with equities, Bitcoin also displayed some inflation hedging attributes after the pound’s collapse. Therefore, are cryptocurrencies slowly decoupling from traditional risky assets and becoming less susceptible to macroeconomic factors? Bitcoin on a wild ride Bitcoin struggled to find clear direction as September and the quarter drew to a close, trading within [..]

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Technical Analysis – ETHUSD consolidates after decline pauses

Posted on September 29, 2022 at 2:03 pm GMT

ETHUSD has been trending downwards since mid-August when the price failed to surpass the 2,030 mark. Even though Ethereum experienced an acceleration of its decline following the successful completion of the Merge two weeks ago, it has been trading sideways in the last few daily sessions. The momentum indicators currently suggest that the negative forces are waning but continue to hold the upper hand. Specifically, the MACD histogram is found above its red signal line but in the negative territory, while the stochastic [..]

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Bitcoin erases post-FOMC drop; correlation with stocks breaks – Cryptocurrency News

Posted on September 23, 2022 at 12:35 pm GMT

On Wednesday, Bitcoin and most altcoins plummeted but did not approach their 2022 lows, after the Fed proceeded with the widely expected third consecutive 75 basis points rate hike and signaled a more aggressive tightening path. Surprisingly, cryptocurrencies quickly bounced back and have already wiped off their losses as both Bitcoin and Ethereum snapped their four-day losing strike despite the sustained sell-off in major US equity indices. Was this a temporary divergence or is cryptocurrencies’ correlation with equities fading? Macro [..]

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Technical Analysis – ETHUSD plummets despite successful Merge

Posted on September 21, 2022 at 2:12 pm GMT

ETHUSD (Ethereum) has been trending upwards since mid-June when its long-term decline ceased at the 2022 low of 880. Nevertheless, the cryptocurrency is experiencing a pullback in the last few daily sessions, even if its latest upgrade called ‘Merge’ was completed without any software downtime or complications last Wednesday. The momentum indicators have reached their oversold levels, endorsing the likelihood of a rebound. Specifically, the stochastic oscillator is flatlining within the 20- oversold area, while the RSI has hugged the [..]

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Cryptos drop on hot US CPI print, Ethereum completes Merge – Cryptocurrency News

Posted on September 16, 2022 at 1:29 pm GMT

Crypto markets extended their losses on Friday as increasing fears of a recession coupled with expectations of a more aggressive tightening path by the Fed in its effort to get the high and sticky inflation under control, continue to undermine investor sentiment towards risky assets. In other news, Merge, the first of a series of upgrades in Ethereum’s blockchain was successfully completed without any software downtime or complications. Will the accelerating adoption and continued network improvements outweigh macroeconomic pressures in crypto [..]

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Technical Analysis – Ethereum quiet within a triangle range

Posted on September 15, 2022 at 7:45 am GMT

Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not switched to the bearish side yet, as the second most popular crypto keeps trading within a symmetrical triangle. The momentum indicators are also reflecting a wait-and-see attitude among traders given the sideways trajectory in the RSI and the MACD. The 38.2% Fibonacci retracement of the latest upleg is currently canceling [..]

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Bitcoin bounces back after hitting 2-month low – Cryptocurrency News

Posted on September 9, 2022 at 10:24 am GMT

On Wednesday, Bitcoin fell below $19,000 for the first time since June, pressured by a significant drop in equity markets and the greenback’s persistent strength. However, the king of cryptocurrencies quickly recovered above the psychological $20,000, without any major positive developments backing this rebound except for some minor weakness in the US dollar. Is the recent price movement indicating that Bitcoin is trading near its bottom or is there more pain ahead? Macroeconomic picture deteriorates After taking a hard beating during [..]

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Technical Analysis – ETHUSD extends rebound but 50-day SMA caps advance

Posted on September 8, 2022 at 12:17 pm GMT

ETHUSD has been gaining some ground in the short-term after its latest decline came to a halt at the 1,420 region. However, the recent price recovery has been repeatedly held down by the ascending 50-day simple moving average (SMA). The momentum indicators suggest that near-term risks are tilted to the upside. Specifically, the stochastic oscillator is ascending near the 80-overbought area, while the RSI has jumped above its 50-neutral mark. Should positive momentum strengthen, the cryptocurrency could encounter initial resistance at [..]

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Technical Analysis – ETHUSD waits for some volatility

Posted on September 1, 2022 at 2:23 pm GMT

ETHUSD (ethereum) seems to be completing a symmetrical triangle within the 1,535 – 1,580 territory on the four-hour chart, formed by the resistance trendline that has been navigating the market to the downside since the August peak at 2,030 and the ascending trendline stretched from the previous low of 1,421. The sideways trajectory in the RSI and the MACD is reflecting a neutral bias, though with the former standing marginally above its 50 neutral mark and the latter holding slightly above its red [..]

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Bitcoin reclaims $20,000 after Jackson Hole Bloodbath – Cryptocurrency News

Posted on August 31, 2022 at 3:29 pm GMT

On Friday, Bitcoin and major altcoins plummeted but did not approach their 2022 lows, after Jerome Powell restated the Fed’s commitment to tame inflation at any cost and warned against premature loosening at the Jackson Hole symposium. Surprisingly, Bitcoin exhibited some resilience and quickly clawed back above the $20,000 level, despite the widespread stock market weakness. Do these indications suggest that crypto markets have hit a tough floor? Hawkish Fed weighs on cryptos Despite the growing optimism in the past [..]

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