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Cryptocurrency Trading / First-ever Crypto Regulation Framework Released by the White House

« on: September 17, 2022, 07:27:48 AM »

The White House unveiled the first-ever framework for potential cryptocurrency laws in the United States on Friday.
This significant announcement comes as the market for digital assets around the world continues to decline.

How might crypto regulation be impacted?

According to sources, the rules outline how the financial services industry should develop to make cross-border transactions simpler. While also focusing on putting an end to frauds in the cryptocurrency industry.

The recently adopted framework was created in accordance with the March executive directive. However, US President Biden asked federal organisations to examine the advantages and disadvantages of the cryptocurrency industry. According to the report, the new directives give regulators like the SEC and CFTC more clout. However, no specific watchdog has been given the power. But these much anticipated recommendations have caught the attention of both cryptocurrencies and emerging asset classes.

The report obtained, it was noted, encourages the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) to look into concerns. As a result, the monitoring and enforcement of unfair and abusive practices will be increased. This will create robust cryptocurrency restrictions.

Will SEC prevail in the legal contest?

New cryptocurrency regulations, according to US Economic Council Director Brain Deese, will put the US in a leadership position for the governance model. The Public Awareness Commission will direct financial education. The customer will benefit from knowing the hazards that are developing in the ecosystem of digital assets. Earlier, CoinGabbar claimed that SEC Chair Gary Gensler made a suggestion that the agency would give the CFTC some regulatory authority over cryptocurrencies.

Gensler acknowledged the importance of collaborating with Congress to bolster its sister watchdog. The CFTC may soon regulate some cryptocurrencies like bitcoin. He did point out that the SEC still needs more power to oversee and create regulations for the cryptocurrency industry.
For more information visit Coingabbar.com

Ethereum Forum / ETHEREUM PRICE ANALYSIS : Blood Bath!!! Bears are driving the market down after

« on: September 17, 2022, 07:14:40 AM »

The Ethereum merger is one of the most important events in the history of the blockchain and the industry.
The event will transition the blockchain from Proof-of-Work (POW) to Proof-of-Stake (POS) (POS). While everyone waits for Merge's positive effects.

The impact of the transformation is already being seen in the cryptocurrency market. Ethereum prices have dropped significantly in the previous 48 hours on the market. Furthermore, market analysts predict that the price of Ethereum will fall further following the merger.

While everyone anticipates positive outcomes, a hard fork is still possible. If this happens, it will have a negative impact on cryptocurrency values.

Because of the merger anticipation, Ether has already outperformed BTC in recent weeks. However, other analysts are concerned that the merger euphoria would result in a 'buy the rumour and sell the news scenario.'

Of course, all of this will be overshadowed by the important Federal Reserve meeting on September 20th and 21st, when the Fed is likely to announce another significant rate rise in response to this week's poor inflation report.

In the financial markets, the buy the rumour and sell the news occurrence occurs. It happens when strong anticipation for Merge events or economic news push asset values to rise. After the event, the increased prices will reduce again.

Ethereum fell sharply against the US dollar after breaking through the $1,655 resistance level. ETH is suffering and faces more losses below the $1,420 barrier.

Ethereum failed to gain enough momentum to break over the $1,650 and $1,660 resistance levels. ETH made a top at $1,647 and then began a new drop.

The price fell steadily below $1,600 and the 100 hourly simple moving average. Even the $1,550 and $1,520 support levels were breached. The price fell by roughly 10% and traded as low as $1,447.

The price of ether is now consolidating losses above $1,450 and below the 100 hourly simple moving average. On the upside, the price is encountering resistance at $1,500. It is around the 23.6% Fib retracement level of the recent fall from the swing high of $1,647 to the low of $1,447.

According to Price Analysis, The market capitalization of this ETH is estimated to be $179,213,581,165. The 24-hour trading volume for the coin is around $20,058,387,782. ETH market capitalization has fallen by 9.02%. However, trade volume decreased by 18.45% during intraday trading. The market capitalization to volume ratio is 0.1119.

The next major resistance level is between $1,550 and $1,560. It is close to the 50% Fib retracement level of the recent decline from the swing high of $1,647 to the low of $1,447. A clear break over $1,560 might push the price towards $1,600. On the hourly chart of ETH/USD, a major bearish trend line is forming with resistance near $1,620. Any more gains might open the door for a move towards the $1,660 barrier in the near term.

If ethereum fails to break through the $1,500 mark, it may continue to fall. On the downside, initial support is near $1,450. The next major support level is at $1,420. A breach below the $1,420 support level might result in another sharp drop. In this scenario, the price of ether may fall to $1,350.

KEY LEVELS :

RESISTANCE LEVEL : $1500-$1560

SUPPORT LEVEL : $1420-$1360
For more information visit Coingabbar.com

Cryptocurrency Trading / Terra Classic (LUNC) and USTC, Binance will implement a 1.2 Percent tax burn.

« on: September 17, 2022, 07:12:22 AM »

The biggest cryptocurrency exchange in the world, Binance,
has previously stated that it would support Terra Classic (LUNC) and TerraClassicUSD (USTC) for a 1.2% tax burn on all on-chain transactions.
However, the community demands assistance for tax burn for off-chain actions like selling and buying. In a revised release, Binance states that starting on September 21, a 1.2% tax burn on the exchange for on-chain transactions would be in effect.

Binance Will Support LUNC's 1.2% Tax Burn

The 1.2% tax burn for Terra Classic (LUNC) and TerraClassicUSD (USTC) will be implemented on September 21 according to a recent notification made by cryptocurrency exchange Binance on September 16. The exchange has not formally announced support for off-chain transactions, despite having agreed to evaluate and improve it.

For on-chain transactions, such as deposits and withdrawals, the 1.2% tax burn is applicable. Unfortunately, off-chain operations like purchasing and selling LUNC will not be subject to the 1.2% tax burn.

The Terra Classic network will aggregate and apply a 1.2% tax burn to deposits of LUNC and USTC from addresses to Binance wallets. The same applies to withdrawal fees and a 1.2% tax burn for LUNC and USTC from the Binance wallet. Fees, however, are only charged when withdrawals are made. Additionally, Binance will modify the minimum and maximum withdrawal amounts as well as the withdrawal fees for LUNC and USTC correspondingly.

The community has approved the request to change the tax parameter by 1.2%. The Terra Station has also received code updates from TFL. When the block height hits 9,475,200, the 1.2% burn tax will be applied automatically. Other exchanges that support the tax burn include Gate.io, MEXC Global CoinInn, BTCEX, LBank, Kraken, Huobi, and KuCoin.

Additionally, the community has staked 565.5 billion tokens and burned close to 3.8 million LUNC to date.

The cost of Terra Classic is still declining.

After South Korea issued an arrest order for Terra founder Do Kwon, Terra Classic's (LUNC) price crashed below $0.0003. However, it has been made clear by the Terra Classic community and validators that Do Kwon is concentrated on Terra 2.0. (LUNA).

Additionally, the volume of daily trading has fallen below $1 billion. The daily trading volume increased by more over $3.5 billion during a surge to reach the $0.0005 objective. Following the 1.2% tax burn's implementation on September 20, the price may increase once again.
For more information visit Coingabbar.com

Cryptocurrency discussions / LITECOIN PRICE ANALYSIS : Will bears break through LTC's rising channel pattern?

« on: September 16, 2022, 02:57:12 PM »

Today's Litecoin price analysis shows a negative trend.
As market sentiment towards LTC/USD remains bearish, the bears have retaken control of the price charts and decreased the price level to 54.85.

Selling pressure entered the market at the start of today's trading session, although the trend remained unclear for the first four hours, after which bears outperformed the bulls. The price trend line indicates a decreasing slope from yesterday, with a top at $60.83.

The LTC/USD pair is losing value at $55.90 at the time of writing, according to the daily price chart for Litecoin price analysis. The price trend was lower from yesterday, and the price appears to be sliding sideways today.

The 4-hour price chart for Litecoin price analysis shows a continuing decline in price, with no significant bullish attempt observed today. The bulls and bears have alternated control of the market, but the bears are currently in power. Because the price levels are so near to a significant support level, the market is predicted to be quite volatile today.

On the 4 hour chart, The RSI indicator is presently at 36.87 and dropping, indicating that the current downtrend may continue, and market sentiment remains bearish. The MACD indicator is bearish since the signal line is above the candlesticks, and the bulls must take power quickly to reverse this trend. The 50 SMA is now at $58.02 and the 200 SMA is at $60.36, indicating that the path of least resistance is downward, as the 200 SMA is significantly higher than the current market price.

The LTC has a relatively high volatility range, with the upper band at $63.93 indicating resistance and the lower band at $53.92 indicating support for the dropping LTC/USD pair. The volatility indicator's average line seems to be $58.93 above the current price level.

Based on the Litecoin price analysis, the market is now in a bearish phase, and a downward breakthrough is possible if the bears continue to control the market. The major levels of support and resistance are $55 and $60, respectively. A negative close below the $55 level might lead to a decline below the $50 level, while a break over the $60 level could lead to an uptrend towards the $70 level.

The market capitalization of this LTC is estimated to be $3,981,076,809. The 24-hour trading volume for the coin is around $557,982,718. LTC market capitalization has fallen by 6.34%. However, trade volume decreased by 13.70% during intraday trading. The market capitalization to volume ratio is 0.1402.

The first significant barrier is situated at the $58 level. The major resistance is placed close to $62. Any more gains above $62 might set the way for a move above $67.

If LTC fails to clear the resistance then On the downside, there is immediate support at $54. The next major support is at $51, below which the bears may aim for $48. Their next target could be around the $42 level.

KEY LEVELS :

RESISTANCE LEVEL : $58-$62

SUPPORT LEVEL : $54-$52

Ethereum Forum / Will Ethereum's Price Rise to $2000 in the Upcoming Week?

« on: September 16, 2022, 02:41:41 PM »

The second half of August saw a significant decline in the price of Ethereum as the market as a whole corrected.
However, the altcoin found a solid foundation near the $1400 support level and resumed the current recovery. If the Merge event has no negative effects, the coin price should progressively surpass $2000 under the influence of the cup and handle pattern.

At $1800 resistance, the price rebound of Ethereum slows. With a current value of 45%, the Ethereum Fear and Greed Index has ascended to the middle of the spectrum. The $12 billion intraday trading volume for Ethereum indicates a loss of 12.4%.

Anyhow, a large event of this nature typically results in strong market volatility and may find an easy upsurge to ride if things go well. Additionally, Vitalik Buterin, a co-founder of Ethereum, cautioned in an interview that it might take six to eight months for The Merge to affect the price.

Additionally, a daily candlestick close of $1800 will complete the cup and handle pattern formation and quicken the bullish momentum. This bullish pattern frequently appears at the market bottom and starts a rally in one direction. The bullish breakout should therefore drive the price of Ethereum 13% higher and encourage traders to surpass the $2000 neckline resistance.

Technical indicator-

OBV signal: An increase in this momentum indicator encourages the rally to continue and break through the $1800 level.

Relative Strength Index: The daily-RSI slope increased significantly since the peak on August 25th, suggesting that the market sentiment is still improving.

EMAs: The 20- and 50-day EMAs, which traditionally have served as great dynamic resistance or support, were breached during the most recent bull run. Therefore, the coin price trading above them will help buyers keep the recovery rally going.

Resistance level- $1800 and $2000

Support level- $1550 and $1410
For more information visit Coingabbar.com

Cryptocurrency Trading / Crypto Update news 15, Sep: Bitcoin below $20,000, Ethereum Fall 10 Percent Afte

« on: September 16, 2022, 02:19:24 PM »

Crypto Market in RED.
Crypto market struggling after a blood bath as bad CPI number, and even worse after Ethereum Merge. Yesterday, BTC slipped from $22,000 to $20,000, and forming its support near $20,000. The global crypto market cap continues to remain over the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) – in RED.

The global cryptocurrency market cap fall by 1.2% to $1.01 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $91.6 billion.

BTC price has fall by 2.1 % in the last 24 hours. At the time, BTC was trading at $19,800. In the last 7 days, BTC price has rise by 3.1%. Bitcoin (BTC) dominance rise by 0.7% to 37.59% while ETH dominated 19.3% of the total crypto markets.

Publication of the consumer price index had place. The CPI indicates an 8.3% YoY gain and a 0.1% MoM change. These numbers weren't what the cryptocurrency market was anticipating. The CPI was projected to be 8.1% YoY and -0.1% MoM. Bad news for the bitcoin market comes in the form of a low CPI.

LUNA breaks its support at $4. It falls to $2.62, currently at $2.72 by 10% down.

Ethereum successfully completed its historic Merge on September 15, 2022. It is referred to as the biggest upgrade in the history of the bitcoin industry. According to ETH, Ethereum successfully transitioned to proof-of-stake consensus, formally deprecating proof-of-work. This will eventually reduce energy consumption by 99.95%.

Top Crypto Prices
Ethereum (ETH): Ethereum price fall by around 8.23% to $1,502 in the last 24 hours. In the last 7 days, ETH price has fall by over 7.74%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.

Binance (BNB): Binance Chain coin’s price rise to $271.5, by 2.65% in the last 24 hours. In the last 7 days, BNB price has fall by over 2.02%. It is currently ranked as the 5th largest crypto asset on CoinGabbar.

XRP: XRP coin’s price fall by 3.48% to $0.3296 in the last 24 hours. In the last 7 days, XRP price has fall by nearly 3.06%. It is currently ranked as the 7th biggest crypto on CoinGabbar.

Solana (SOL): Solana price fall 1.64% to $33.55 in the last 24 hours. In the last 7 days, SOL price has increased by nearly 1.5%. It is currently ranked as the 9th biggest crypto asset on CoinGabbar.

Cardano (ADA): Cardano token’s price fall by 2.25% to $0.4698 in the last 24 hours. In the last 7 days, ADA price has fall 1.2%. It is currently ranked as the 8th biggest crypto asset on CoinGabbar.

Dogecoin’s (DOGE) price fall by 2.3% in the last 24 hours. DOGE is currently ranked 11th. The price of DOGE at the time of this report was $0.05926.

Price of Polkadot (DOT) fall by 3.33% in the last 24 hours to $6.96. Avalanche (AVAX) price fall by nearly 3.25% to $18.49 in the last 24 hours. Both DOT and AVAX are currently ranked 10th and 16th respectively on CoinGabbar.

Polygon (MATIC) price fall by around 3.08% to $0.8384 in the last 24 hours. In the last 7 days, MATIC price has rise by around 0.23%. It is currently ranked 14th on CoinGabbar.

Shiba Inu (SHIB) fall by 3.08% in the last 24 hours to $0.00001183. It is currently ranked 12th on CoinGabbar.
For more information visit coingabbar.com

Cryptocurrency Trading / ETH Hard Fork Gains Major Traction, Are ETH Traders In Jeopardy?

« on: September 15, 2022, 02:53:07 PM »

The Ethereum merger is about to go live in less than 1 hour. The final upgrade, Paris, is less than 1000 blocks away from being activated.
Paris will signal the end of Ethereum Proof-of-Work and the completion of the merge. However, the Ethereum hard fork is gaining traction in keeping PoW operational on Ethereum.

Who Is Supporting ETHW?

ETHW reveals that large mining pools are supporting a hard fork. Following the merger, large mining pools including f2pool, BTC.com, and poolin began to allow ETHW mining. The second largest mining pool, f2pool, had previously hoped for a successful shift to proof-of-stake. However, it appears that the group's viewpoint has shifted.

ETHW has revealed a list of 18 mining pools that support ETHW mining. Eight pools are already accessible for the ETHW testnet. The Ethereum Hard Fork will be available for mining 24 hours after the merge.

Many other influential figures have already backed a hard fork. Justin Sun, the Tron blockchain's founder, said that the ETHW token will be listed on his Poloniex exchange. The hard fork was also supported by cryptocurrency exchanges such as Huobi and BitMEX.

How Ethereum Hard Fork Can Impact Ethereum

The Ethereum Hard Fork may have a significant influence on the merge. DeBank Defi, a major crypto portfolio company, has declared a successful merger a disaster for the whole crypto industry. Chainlink, a prominent smart contract vendor, has said clearly that it would not support any hard fork tokens.

According to Vitalik Buterin, anyone who supports the hard fork is an exchange owner looking to make a quick profit. He emphasized the importance of Proof-of-work supporters backing the Ethereum Classic blockchain. Ethereum Classic is yet another Ethereum hard fork. Vitalik, on the other hand, is confident that the hard fork will not gain traction from the consumers.

At the time of writing, the price of Ethereum is trading at $1,606. While Ethereum Merge is a fundamentally bullish event, it is feasible that its price may fall following the merger before a strong rally.
For more information visit Coingabbar.com

Cryptocurrency discussions / The first significant resistance is situated at $62. Any additional increases

« on: September 15, 2022, 01:51:19 PM »

LITECOIN PRICE ANALYSIS : LTC is under intense selling pressure. as the cryptocurrency market is in the red
Litecoin price analysis shows that the bears have bled out more than 14 percent of the asset's price movement, and the sell-off shows no signs of easing anytime soon.
The overall digital asset marketplace is in a bloodbath, with most altcoins falling with the major currencies Bitcoin and Ethereum. Litecoin is currently trading at $59.50, despite starting the session at $60.16.

The bears currently control the LTC market, and if price stays below $60.00, a further decline towards $54.00 may happen soon. On the other hand, if the bulls can push prices over $64.00, we may expect some upward trend towards $70.00 levels. The digital asset market is in free fall, and it appears that prices will continue to decrease in the near term. The market volatility is extremely high due to the stretching of the Bollinger bands.

Litecoin price analysis on a 4-hour price chart shows a declining market sentiment that appears to be reinforced by rising selling pressure. The bulls are not able to defend their current major support levels of $58.00.

The LTC/USD pair is extremely bearish, and it appears that prices will soon go below $50.00. The RSI indicator is currently extremely close to oversold territory, indicating that the market may experience some consolidation soon. The MACD indicator is highly bearish since the signal line is above the MACD line, suggesting that the path of least resistance is downward.

The market capitalization of LTC is estimated to be $4,248,170,912. The 24-hour trading volume for the same coin is around $657,569,902. LTC market capitalization has risen by 0.49%. However, trade volume decreased by 34.00% during intraday trading. The market capitalization to volume ratio is 0.1557.

The first significant resistance is situated at $62. Any additional increases might bring the price up to $65. Above $65, the price may shortly reach $68.

If LTC fails to break through the significant resistance level of $62, the price may continue to decline below $58. If it fails to maintain this level, panic selling will occur up to the $56 level.

KEY LEVELS :

RESISTANCE LEVEL : $61-$64

SUPPORT LEVEL : $58-$56
For more information visit Coingabbar.com

Cryptocurrency Trading / Thai SEC Planning to Ban Crypto Operators: Reports

« on: September 15, 2022, 01:32:41 PM »

As the cryptocurrency market matures, Thailand's Securities and Exchange Commission is instituting new regulations governing the activities of crypto operators.
According to reports, the Thai SEC is planning to ban or prohibit crypto operators from providing digital asset depository services. It also intends to ban the platform’s payment of returns on cryptocurrency deposited by users and utilized for lending or reinvesting via the platform.

The Thai SEC said that these measures will assist safeguard traders and regular investors. The recent development follows the exchanges earlier this year's liquidity issues. In addition, several crypto lenders that promised better interest rates to depositors risked insolvency as a result of the crypto market's brutal fall.

The Thai Securities and Exchange Commission has proposed the following:

Prohibit crypto business operators from accepting deposits of digital assets and then borrowing and investing those digital assets to reimburse the depositors.

Prohibiting advertising or soliciting the general public, as well as engaging in any activity that might encourage deposit-taking or lending services.

Prohibiting digital business operators from receiving digital assets and providing returns to depositors.

Thai SEC’s Regulatory Measures

The Thai SEC has taken action following the liquidity issues encountered by crypto exchange Zipmex in July 2022. Back then, Zipmex, which had a large presence in Southeast Asian countries, had suspended platform deposits and withdrawals.

Since then, the Thai SEC has probed regarding the public's possible losses. It also requested feedback from impacted Zipmex users via an online forum. Although withdrawals from Zipmex resumed immediately for its Thai customers, it has left the SEC in a state of concern.

Last week, the Thai Securities and Exchange Commission also filed a police complaint against crypto exchange Zipmex. The exchange assured that they are working with regulators to fully comply with all essential standards and security procedures.
For more information visit coingabbar

Cryptocurrency discussions / Bitcoin Loses Momentum as 5000 BTC Transfers to Kraken Exchange

« on: September 14, 2022, 11:50:45 AM »

Bitcoin (BTC), the world's largest cryptocurrency, has been trading at less than $20,000 for quite some time. As of press time, BTC is trading at $19,887 with a market worth of $380 billion.
According to the most recent development, a Bitcoin whale address became active for the first time in nine years and transferred 5,000 Bitcoins worth $100 million to cryptocurrency exchange Kraken.

Citing data from OKLink, a famous crypto reporter Colin Wu stated that the Bitcoin whale address (18xGHNrU26w6HSCEL8DD5o1whfiDaYgp6i) transferred out 5000.01 BTC to the Kraken on September 5th, which is currently worth nearly $100 million. In 2013, the wallet was created, and bitcoins were transmitted to this address.

Bitcoin has remained under pressure following last week's US unemployment statistics. For the ninth consecutive day, Bitcoin has traded below $20,000, but still over $19,511, its then-record peak from December 2017. The December 2017 high may provide critical support for Bitcoin in the future.

On September 4, Gavekal Research released a research indicating that “the Fed is also 'burning' money (a.k.a. quantitative tightening) to restore the US dollar's credibility. This is a huge disadvantage for all cryptocurrencies.”

Bitcoin Lightning Capacity Hit New ATH

Last week, the capacity of the Bitcoin Lightning Network reached an all-time high of around 5,000 Bitcoins. The Lightning Network is the Bitcoin network's Layer-2 scaling solution, making transactions quicker and cheaper.

Interestingly, Michael Saylor's MicroStrategy has been trying to enroll a large number of Lightning Network subscribers. On Saturday, September 3, Saylor described Lightning as the most significant thing happening in the world of technology when speaking at the Baltic Honeybadger conference in Riga, Latvia.

He went on to say that MicroStrategy is currently working on enterprise Lightning applications such as enterprise Lightning wallets, enterprise Lightning servers, and enterprise authentication.

This stage, he claims, will enable businesses to "roll out Lightning to a hundred thousand employees per day." According to Saylor, it would also be able to open 10 million Lightning wallets overnight.

Read also: BlackRock will index the price of Bitcoin (BTC)

Ethereum Forum / ETHEREUM PRICE ANALYSIS : Can This Ascending Channel Trendline Prevent Further E

« on: September 14, 2022, 11:40:56 AM »

Ethereum dropped below $1,650 versus the US dollar. To avoid a sharp bearish reversal, ETH must remain above the $1,550 support zone.
A cup and handle pattern is forming on the daily ETH/USDT technical chart. In response to this pattern, the coin price should increase and break through the neckline resistance of $2000. As a result, the Ethereum price would obtain an early signal for a trend reversal, allowing it to achieve the primary goal of $2500. However, the currency is currently trading at $1620, down 5.86% in the last 24 hours.

Yesterday's sell-off started with the release of the latest consumer price index (CPI) data, which showed 8.3% year-on-year inflation. The bearish momentum accelerated, however, as the CME FedWatch Tool indicated a 20% possibility of a 100 basis point (bps) or 1% interest rate hike. As a result, market sentiment is once again in turbulence, with many questioning if the bottom has really formed.

The bulls have pushed the price above the 23.6% Fib retracement level of the decline from the $1,789 swing high to the $1,552 low. On the upside, the price is facing resistance at $1,620.

The next major resistance is situated between $1,660 and $1,670. It is close to the 50% Fib retracement level of the fall from the $1,789 swing high to the $1,552 low. A clear break over $1,670 might push the price above $1,700.

In any case, the technical chart now indicates a bullish reversal pattern controlling the Ethereum price action, so traders may continue a bullish outlook until the swing low support of $1420 is breached.

The bearish engulfing candle is currently retesting the combined support of $1550 and the upcoming support trendline. However, if today's daily candle closes above this support, the price may be able to recover.

A possible reversal from this concentrated support would push the cryptocurrency 28% higher to the neckline of the previously mentioned pattern.

According to Price Analysis, The market capitalization of this ETH is estimated to be $197,995,100,872. The 24-hour trading volume for the same coin is around $23,530,523,286.

On the upside, a major resistance is located at the $1660 level. A closing over the $1660 resistance level might cause a fresh rally. In the mentioned situation, the price might rise to $1700. Any further advances might push the price up to the $1800 psychological level.

If ETH fails to break over the 1660 major resistance level, it may continue to fall below $1580. The next big level of support is at $1550. If it fails to maintain this level, strong panic selling might occur, possibly reaching the $1400 milestone.

KEY LEVELS :

RESISTANCE LEVEL : $1680-$1740

SUPPORT LEVEL : $1550-$1480
For more information Visit Coingabbar.com

Advertise Your Stuff / How Will Bitcoin Perform Following the Ethereum Merger?

« on: September 14, 2022, 11:36:20 AM »

In contrast to typical cryptocurrency market place behaviour, during the past few weeks, Ethereum has dominated Bitcoin in terms of market share.
The buzz around the Ethereum (ETH) Merge has recently caused Bitcoin's (BTC) market value share to decline. Bitcoin maximalists would hope for a speedy reversal as the Ethereum upgrade would pass through, as the Merge is just around the corner. The price of Ethereum after the update is still an unknown quantity.

Bitcoin Price Rebound Following Merge?

Technical indicators in this context seem to indicate increasing trading activity in bitcoin over the last few days. Ethereum trading surpassed BTC in terms of market share for as long as two months. Any obstacles or problems with the Ethereum Merge, meanwhile, would force Bitcoin back into first gear. Although there is a good possibility that the upgrade will be successful, blockchain experts cautioned that there may be a few minor glitches.

Cryptocurrecy study indicates that, when compared to Ethereum, Bitcoin share of trade volume just reclaimed the top spot. Additionally, it noted that there are some early indications of a change in which cryptocurrencies are taking the lead. The narrative will probably end after the Ethereum upgrade is finished, which is expected to happen around September 15. This makes predicting a change in behaviour logical, it continued.

Dominance In The Market Has Changed

According to a dominance by percentage volume chart, Bitcoin saw a crossing in trading volume dominance around September 11th. This implies that following The Ethereum Merge, the dominant structure of Bitcoin might alter.

The price of ETH is now floating around $1,700. According to price monitoring service Coingabbar, the price of ETH as of this writing is $1,730, a decrease of 1.51% over the previous day. On the other hand, throughout the past week, the price of Bitcoin has been rising. BTC has increased 13.37% during the past week. As of this writing, the price of BTC is $22,408, up 4.01% over the previous day.
For more information visit Coingabbar.com

Cryptocurrency Trading / Bitcoin (BTC) Tries to cross the 200-day Moving Average, Pay Attention.

« on: September 14, 2022, 11:32:52 AM »

The biggest cryptocurrency in the world, Bitcoin (BTC), is still displaying strength and has recently moved above the $22,200 mark, adding 3% in the past day.
Technically speaking, BTC is currently trading at a critical intersection with its 200-day moving average (MA).

BTC had previously had a severe rejection at these levels, which was followed by a significant correction. The previous time #Bitcoin touched the 200MA on the 12hr chart, according to well-known crypto analyst Ali Martinez, it led to a sharp correction. In anticipation of a pullback, the TD Sequential now displays a sell signal at the same level. To void the negative view, $BTC must print a 12hr candlestick close above $22,950.

Additionally, on-chain data for realised profit/loss for Bitcoin demonstrates that profit-taking occurs at every increase in price for Bitcoin. The current Realized profit/loss ratio for Bitcoin is below 1.0, indicating a significant bear cycle.

Some Bitcoin-Friendly Developments

After attempting to go below $20,000 last week, the price of bitcoin was able to quickly recover and is currently maintaining $20K as a reliable support level. mentioning the quantity of live addresses. Analyst Ali Martinez agrees that the bottom of the Bitcoin market might be in.

Additionally, there are now close to 100,000 BTC addresses having at least one or more Bitcoins. This demonstrates how retail players keep accumulating.
For more information visit Coingabbar.com

Cryptocurrency discussions / ETHEREUM PRICE ANALYSIS : Will ETH breach or sustain $1800 as a barrier?

« on: September 12, 2022, 10:58:29 AM »

The Ethereum (ETH) price plummeted sharply in late August, as the crypto market was severely impacted by global market sentiments.
However, prices quickly established a strong hold at $1400 support and resumed their current recovery. Furthermore, assuming theEthereum Merge event has no adverse implications, the coin price should steadily exceed $2000.

According to Price Analysis, Ethereum has surged above the $1,700 resistance level against the US dollar. ETH is showing signs of life and may even break through the $1,800 resistance level.

Ethereum remained strongly grabbed over the $1,650 level and started a fresh climb. ETH was managed to break over the critical $1,700 resistance zone as well as the 100 hourly simple moving average.

The price has clearly moved above the $1,750 resistance level. A fresh multi-week high at $1,7898 was formed, and the pair is presently retracing gains. Below $1,750, there was a minor decline. The price of ether has fallen below the 23.6% Fib retracement level of the latest rise from the $1,620 swing low to the $1,788 high.

The Ethereum (ETH) price, on the other hand, is struggling at the psychological resistance of $1800 on declining volume, indicating a higher probability of a price reversal. Furthermore, the formation of an evening star pattern in the supply zone raises the chance of a downturn. If this happens, the upswing may reverse to the $1550 or $1400 support levels.

The price is currently trading over $1,700 as well as the 100 hourly simple moving average. On the hourly chart of ETH/USD, a significant bullish trend line with support at $1,725 is also formed.

Furthermore, a daily candlestick close above $1800 will strengthen bullish momentum and provide sideline buyers with a breakthrough entry chance. Aside from that, the breakout of the 23.60% Fibonacci level at $1760 predicts an increase in ETH prices to the 200-day EMA at the psychological figure of $2000.

On the upside, ETH is facing resistance at $1,800. The next key resistance is at $1,860. A clear break above $1,860 might take the price up to $1,920. If the bulls continue pushing, the price might reach $2,000 again.

If ETH fails to break over the $1,800 resistance level, it may begin a downward trend. On the downside, initial support is at $1,720. A fall below the $1,700 support level might result in more losses, the price of ether may fall below $1,650.

KEY LEVELS :

RESISTANCE LEVEL : $1800-$1880

SUPPORT LEVEL : $1700-$1640
For more information visit Coingabbar.com

Incentivised Posting / Shill / BITCOIN PRICE ANALYSIS : Bitcoin reaches $22,000, which would win in a fight:

« on: September 12, 2022, 10:55:57 AM »

The movement in the crypto market is driven by macroeconomic factors.
Bitcoin's price has dropped below $21.8K after nearly hitting the $22.2K level. The August Consumer Price Index will be released tomorrow. This data is likely to have a major impact on the Fed's decision on the next interest rate rise.

Bitcoin gained momentum and even passed the $22,000 barrier level against the US dollar. BTC is reversing gains, although down may be limited around $21,500.

Bitcoin's price remained far over $20,000 and started a new rising momentum. The price broke through the $21,000 and $21,200 resistance levels.

The price even burst through the $21,500 barrier level and spiked above the $22,000 mark. A high was made around $22,358 and the price has just begun to fall. The price fell below the $22,000 and $21,850 levels.

Bitcoin traded below the 23.6% Fib retracement level of the recent rally from the swing low of $21,180 to the high of $22,347. It is currently trading above the $21,500 level as well as the 100 hourly simple moving average. Furthermore, on the hourly chart of the BTC/USD pair, a key bullish trend line is forming with support at $21,600.

According to Price Analysis, The market capitalization of this BTC is estimated to be $457,040,724,766. The 24-hour trading volume for the same coin is around $457,040,724,766. BTC market capitalization has risen by 0.61%. However, trade volume increased by 17.47% during intraday trading. The market capitalization to volume ratio is 0.09678.

The first significant resistance is located at $22,000. Any future increases might take the price up to $22,600. Above $22,600, the price may quickly hit $23,300.

If Bitcoin fails to break over the $22,000 major resistance level, it may continue to fall below $21,100. The next big level of support is at $20,600. If it fails to maintain this level, strong panic selling might occur, possibly reaching the $20,000 milestone.

KEY LEVELS :

RESISTANCE LEVEL : $22400-$22900

SUPPORT LEVEL : $21400-$20800
For more information visit Coingabbar.com