Bitcoin Price Stuck In Key Range, Why Dips Might Be Limited

Bitcoin failed again to clear the $30,600 resistance zone against the US Dollar. BTC is declining, but the bulls might remain active near $28,500. Bitcoin failed to gain strength for a move above the $30,600 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was break below a major bullish trend line with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards the main $28,700 support…

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Avalanche nears key breakdown level that could sink AVAX price by another 65%

Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a “bear pennant” structure. Avalanche could get buried technicals  Bear pennants are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the downside and then—as a rule of technical analysis—falls by as much as the height of the previous downtrend, also called “flagpole.” AVAX is nearing a technical breakdown as its price moves toward the pennant’s apex, i.e., the point where its…

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2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery.  Ether/USD 4-hour price at Bitstamp. Source: TradingView To date, the Federal Reserve continues to dictate the markets’ performance and uncertainty has been the prevailing sentiment because the central banks of major economies are trying to tame inflation. Considering that the correlation between…

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Bitcoin Eyes Fresh Increase But This Level Is The Key

Bitcoin is stable above the $29,600 support against the US Dollar. BTC must clear the $31,350 resistance to start a decent increase. Bitcoin is struggling to gain momentum above $30,500 and $30,600. The price is now trading near the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $29,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above the $31,350 resistance. Bitcoin Price Is…

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Bitcoin Holds Key Support, Why BTC Must Clear This Resistance

Bitcoin corrected lower and tested the $29,000 support against the US Dollar. BTC must settle above the $30,500 resistance to start a decent increase. Bitcoin failed to gain pace above $31,000 and corrected lower below $30,000. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above…

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Crypto capital gains one of four key areas for Australian Tax Office

The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022. A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies between income brackets and duration of ownership, but in general, the rate is reduced for assets held longer than 12 months. The ATO, which has fired off many warnings to crypto investors over the past few years, has also directly…

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Utility tokens vs. equity tokens: Key differences explained

Investors familiar with the concept of equity investing will find equity tokens to be an extension of the same thought process as initial public offerings while those with a riskier appetite can venture into plonking their capital on the utility tokens in which they believe. One glaring difference between utility and equity tokens is the fact that the former is not regulated as they provide access to a service rather than a specific investment in an asset or company as do equity tokens.  However, for those asking the question of…

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On-chain privacy is key to the wider mass adoption of crypto

Innovations in the crypto space appear daily. Whether through decentralized applications or new ways to implement and use nonfungible tokens (NFTs) within decentralized finance, blockchain technology is innovating at the speed of light. The only thing missing? Widespread adoption. One thing holding this back is the very public nature of the blockchain. DeFi, as it operates now, lacks meaningful privacy. In order to catalyze broad adoption for businesses, governments and individuals, those executing blockchain transactions should expect regular, consistent privacy. First, we need to define what privacy means. It does…

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Analysts say Ethereum price must hold this key level to avoid a capitulation-level move

The crypto market experienced another day of pain on May 12 as the fallout from the Terra’s LUNA and UST failure continues to ripple across the ecosystem. While the coverage for UST and its impact on Bitcoin (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact on the price of Ether (ETH) as traders hastily exited the market. Data from Cointelegraph Markets Pro and TradingView shows that the past seven days of selling dropped Ether to $1,701, a price not seen…

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Ethereum Dives 15%, Why Close Below $2K Is The Key

Ethereum gained bearish momentum below $2,000 against the US Dollar. ETH even traded below $2,000 and remains at a risk of more losses. Ethereum started a fresh decline below $2,100 and $2,000. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if there is a close below the $2,000 support. Ethereum Price Breaks $2K…

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