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Topics - Sharpmax

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1
Ether's (ETH) $1.5 billion monthly expiry on June 25 was slightly favorable for bears, and at the time, Cointelegraph reported that the $2,200 price was critical to eliminate 73% of the neutral-to-bearish put options. However, bulls were not able to sustain their advantage because the expiry price was near $1,950. In the end, the protective put options outnumbered the neutral-to-bullish call options by $30 million. Fast forward to July, and after a noticeable 10% rally, Ether's price again struggles to sustain the $2,100 support. Bitcoin's negative 3.5% performance could partially explain last week's price move, but the London hard fork scheduled for this month could also be responsible. The proposal EIP-1559 will cap gas fees, making it more predictable for users. However, miners' revenue will be negatively impacted. Any pushback from miners could delay Eth 2.0 even more, which could be a reason for the recent price weakness.Source

2
Ethereum (ETH) price failed to break above resistance at $2,300 on June 30. A breakout above the recent high would have pushed Ether to retarget previous highs of $2,600 and $2,900. The largest altcoin faces rejection at the recent high.
The current price decline could reach a low of $2,000. This current retracement is a setup for a possible rise above the high at $2,300. The largest altcoin will continue a new upward move above the $2,000 support. However, if the bears break below the $2,000 support, the sellers will push Ether to the previous low at $1,710. Ethereum indicator analysis The bears are breaking below the resistance line in the descending channel. If the price breaks through and closes below the resistance line, the downtrend will resume. The altcoin is at level 43 of the Relative Strength Index of period 14, which indicates that the cryptocurrency is in the bearish trend zone and is capable of falling downwards.Source

3
Ethereum failed to stay above $2,100 and it is now moving lower against the US Dollar. ETH price is likely to continue lower and it could even break $2,000.
Ethereum started a fresh decline from well above the $2,200 support zone. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a break below the $2,000 support zone in the near term.
Ethereum Price Is Gaining Bearish Pace
After struggling to stay above $2,250, ethereum started a fresh decline. ETH broke the $2,200 and $2,150 support levels to move into a short-term bearish zone.
The price gained pace below the $2,150 level and it even broke $2,120. There was a break below the 23.6% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high. There was also a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD. The pair is now trading below $2,100 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,050 level. The first major support is near the $2,000 level.Source

4
In the past month, top US exchange Coinbase has announced listings for a pair of cryptocurrencies that are based not on battling inflationary monetary policy or creating a censorship-free internet, but on...dogs.
After Dogecoin (DOGE) made dog cryptocurrencies cool, a host of other projects got in the act, including Doge Cash, Akita Inu, and Dogelon Mars. The most successful has been Shiba Inu (SHIB). In mere weeks after debuting on Binance, it had amassed a $9 billion market cap by appropriating the same meme-derived mascot. (It has since cooled to $3.5 billion.)But although Shiba Inu's creator has embraced the nickname "Dogecoin Killer," SHIB and DOGE are fighting with different weapons.Source

5
Tether is in headlines again as the founder of the centralized stablecoin Broke Pierce tweeted on 17 June that he was proud to lead a group of Bitcoin ambassadors to El Salvador. The crypto community prides itself as having no central leader, as such the comment wasn’t seen in good faith.
LN Strike takes the dollars in your bank accounts, converts them to BTCs over Lightning, moves them across, before converting them to Tether USDT. It’s then credited to the user account on the destination side. Tether doesn’t have a good reputation however. In utopia, one Tether USDT in circulation should be backed by 1 USD in the company’s reserves. But that’s not the case, far from it. The centralized stablecoin’s composition was revealed in a previous report, as part of it’s ongoing investigation with the New York Attorney General office on May 13, 2021.source

6
Bullish ADA price prediction ranges from $1.6 to 4.92.
ADA price might also reach $5 soon.
ADA bearish market price prediction for 2021 is $1.3.
In Cardano coin (ADA) price prediction 2021, we use statistics, price patterns, RSI, and much other information about ADA to analyze the future movement of the cryptocurrency. Cardano is a third-generation public blockchain and DApp development platform3. More so, the platform has gained attention from international media as the first blockchain to include peer-reviewed research. ADA is the native token of Cardano. ADA is one of the top crypto in the market.
Third-generation cryptocurrencies learn the lesson from Bitcoin and Ethereum and improve upon their shortcomings. However, the third generation cryptos such as ADA use new developments such as layered design to improve scalability, security, and flexibility. In this way, they develop more benefits, eliminate failures and eliminate inefficiencies.
According to CoinGecko, the ADA coin price is trading at $1.41 with a 24-hour trading volume of $2,648,389,377, at the time of writing. However, ADA has decreased by 7% in the last 24 hours.Moreover, ADA has a circulating supply of 32,066,390,668 ADA. Currently, ADA trades in cryptocurrency exchanges such as  Binance, Huobi Global, OKEx, ZG.com, and CoinTiger.Source

7
Bullish XLM price prediction ranges from $0.52 to $0.82.
XLM price might also reach $1 soon.
XLM bearish market price prediction for 2021 is $0.316.
In Stellar (XLM) price prediction 2021, we use statistics, price patterns, RSI, and much other information about XLM to analyze the future movement of the cryptocurrency.
According to CoinGecko, the Stellar price is trading at $0.298 with a 24-hour trading volume of $$740,492,059, at the time of writing. However, XLM has decreased by 4.9% in the last 24 hours.Currently, XLM trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, CoinTiger, and FTX.Source

8
It’s no secret that Ethereum leads the blockchain arena, when it comes to innovation and implementing trend-setting ideas. Ethereum wallets are no different and might soon be able to offer features, nothing short of magical. Think Batch transactions, sponsored transactions etc, right out of the box, without any special smart contract taking care of it. What would it mean if Ethereum Improvement Proposal 3074 was implemented?Hate Those Approve Functions On Uniswap? Here Comes A Fix!Remember how you have to approve a token for usage on the Uniswap network before making a trade? EIP-3074 fixes that also. It allows for a person to approve and trade a token in one single transaction, saving more time/money and improving the user experience.It does so by allowing smart contracts to send transactions as an Externally Owned Account (EOA) or an Ethereum address. There are two Ethereum Virtual Machine (EVM) instructions involved here – AUTH AND AUTHCALL. The first one approves the token and the second allows it to be traded on the protocol.source

9
Ethereum extended its downside correction below $2,500 against the US Dollar. ETH price is recovering higher, but it is now trading below the 100 hourly SMA.Ethereum failed to stay above the $2,500 support zone and extended its decline.The price is now trading well below $2,500 and the 100 hourly simple moving average.There is a major bearish trend line forming with resistance near $2,460 on the hourly chart of ETH/USD (data feed via Kraken).The pair is likely to face a strong selling interest near the $2,460 and $2,500 levels.Ethereum Price Extends Losses Ethereum topped near the $2,640 level and started a fresh decline, similar to bitcoin. ETH even struggled to stay above the $2,550 support zone and moved into a bearish zone.
There was a clear break below the $2,500 support zone and the 100 hourly simple moving average. Ether even declined below the $2,400 level and it traded as low as $2,353. It is now correcting losses and trading above the $2,400 level.
The price recovered above the 23.6% Fib retracement level of the of the recent decline from the $2,638 high to $2,353 low. On the upside, an initial resistance is near the $2,450 level.
There is also a major bearish trend line forming with resistance near $2,460 on the hourly chart of ETH/USD. The main resistance is now forming near the $2,550 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the of the recent decline from the $2,638 high to $2,353 low.Source

10
Ethereum 2.0, a much-awaited network upgrade of Ethereum (ETH), now has more than 5.6 million coins under its deposit contract, the highest level on record. According to the latest data posted by Etherscan, the total value of ETH locked under the staking contract of Ethereum 2.0 stands at around $13.5 billion. ETH 2.0 officially started its journey in the first week of December 2020 with the launch of Beacon Chain. Nearly 1 million Ethereum coins were staked within four days of the launch. ETH network has started its shift from the current proof-of-work network to an improved proof-of-stake network.The overall value of the staked ETH under Ethereum 2.0 has dropped significantly during the last few weeks, mainly because of the latest dip in the price of the world’s second-largest cryptocurrency. Ethereum reached an all-time high of over $4,300 on 12 May but the digital asset has lost more than 45% of its value since then. As of writing, Ethereum is trading near $2,400 with a market cap of $280 billion and a market dominance of 17.5%.Source

11
Ethereum corrected gains from the $2,640 zone against the US Dollar. ETH price is now trading above a major support at $2,500 and the 100 hourly SMA.Ethereum failed to clear $2,650 and started a downside correction.The price is now trading above $2,500 and the 100 hourly simple moving average.There is a key declining channel forming with resistance near $2,550 on the hourly chart of ETH/USD (data feed via Kraken).The pair is likely to start a fresh increase as long as it is above the $2,500 level. Ethereum Price Holding Key Support Ethereum gained pace above the $2,600 resistance and extended its upward move. However, ETH failed to surpass the $2,650 resistance. A high was formed near $2,638 before it started a downside correction.There was a break below the $2,600 and $2,550 support levels. Ether price declined below the 50% Fib retracement level of the of the recent increase from the $2,461 swing low to $2,638 high. The price even traded below the $2,520 support. It is now trading above $2,500 and the 100 hourly simple moving average. It is holding the 76.4% Fib retracement level of the of the recent increase from the $2,461 swing low to $2,638 high.Source

12
Institutional investment managers continued to sell cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) last week, though the magnitude of the outflows have declined substantially from previous weeks, offering early signs that the worst of the market selloff had subsided. CoinShares’ weekly fund flows report showed a $21.4 million drawdown over the previous seven days, compared with a $94 million outlow the previous week. Ethereum products registered their biggest weekly drawdown at $12.7 million. Funds dedicated to ETH had been outperforming Bitcoin in recent months, reflecting pent-up demand for the second-largest cryptocurrency. All said, institutional investors have been net sellers of digital assets in four of the past five weeks. The period ending May 24 saw the biggest weekly outflow at $97 million, according to CoinShares data. Related: Record $141M outflow from Bitcoin products signals institutions are bearish on BTC: CoinShares. While sentiment has weakened over the last month investors on the whole remain committed given the magnitude of inflows seen this year,” the report said, alluding to the fact that crypto investment funds have raised $5.8 billion this year alone. That’s within 13% of the $6.7 billion inflows registered in all of 2020.source

13
ETH/USD had been showing signs of decoupling from BTC/USD since late April. But the real test was to come when the latter started making significant moves. The last couple of weeks have decisively put paid to any such notions. Bullish developments in Bitcoin this past week seemed to affect all altcoins adversely, as ETH/USD closed the week at $2,510 in a dark cloud cover pattern, down 7.5% from the previous week. ETH/BTC broke down from a rising wedge pattern on Wednesday (charted below) and has since continued to slide down, acquiring the breakout target of 0.062 BTC during Asian trading hours on Monday. ETH2 ETH/BTC has dropped below 50ma on the daily for the first time since breaking out from a falling wedge at the beginning of April. This is now likely to flip to resistance. An RSI double bottom recovery is something to keep an eye on over the next couple of days. A daily close above the previous swing high would confirm the reversal pattern. Looking at the ETH/USD chart below, while the primary trend line dating back to January still holds, the pair is currently on shakier ground than it’s ever been in the past few months unless an immediate recovery materializes.Source

14
At last weekend's Bitcoin 2021 conference in Miami, boxer Floyd Mayweather took some jabs for his decision to wear a t-shirt of rival cryptocurrency EthereumMax, which people could use to pay for his June 6 fight with Logan Paul.
Suffice it to say, Kim Kardashian West isn't wearing a $20 t-shirt to promote your little-known token. She uses Instagram for that. The celebrity influencer shared a story about EthereumMax with her 228 million Instagram followers yesterday after previously posting about it in May. Talking into her cellphone, she says, "Hey guys, I have a big announcement."
The video then cuts to a page with the following in all caps:
Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token! A few minutes ago Ethereum Max burned 400 trillion tokens—literally 50% of their admin wallet giving back to the entire E-Max community.Source

15
Financial services company Charles Schwab senior vice president Liz Ann Sonders has said bitcoin’s growth towards an inflation hedge and store of value is in doubt after the digital asset plunged by at least 50% from the April 14th all-time high of $64,800. Speaking to TD Ameritrade Network, Sonders noted that after the price correction, it is hard to predict bitcoin’s next move following the 2021 rally. According to Sonders, the bitcoin price slump emerged when the asset was most needed amid rising inflation in years.
I have no clue about what bitcoin is going to do in the near term, medium term, what we saw in the period where you basically got cut in half and only a few weeks time sort of puts a question mark around the store of value. A lot of people say, well, it’s an inflation hedge, interesting that it got cut in half at the exact point that we finally after decades started to see this pick up in inflation,” said Sonders.Source

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