Aurelia Butler

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  • 113 Shares189 Views

    in Cryptocurrency

    Technical Indicators Suggest ETH Could Drop to $1,788 Soon

    The altcoin market leader Ethereum (ETH) was able to print a 24-hour gain in the last 24 hours according to CoinMarketCap. As a result, the leading altcoin’s price stood at $1,827.30 at press time. Despite this recent gain, the crypto is still at risk of its price dropping in the next few days.ETH/USDT 4-hour chart (Source: TradingView)Looking at the 4-hour chart, ETH’s price was attempting to break above the key resistance level at $1,833. Bears, however, were exerting sell pressure in an attempt to defend the price point, which was evident by the wick present above the latest 4-hour candle.Although ETH was trading bullishly above the 9 and 20 EMA lines on its 4-hour chart, it could still face the possibility of dropping below the two EMA lines in the next 24 hours. Should ETH’s price lose the support of the two EMAs, it will drop down to $1,788 in the following 24-48 hours.A key indicator to watch is the 4-hour RSI line which was looking to cross bearishly below the RSI SMA line. If this cross happens, the bearish thesis will be validated. However, a break above the aforementioned $1,833 resistance in the next 24 hours will result in ETH climbing to $1,851 in the next 2 days.ETH/USDT daily chart (Source: TradingView)Meanwhile, the daily chart for ETH was contradicting the bearishness indicated on the 4-hour chart. At press time, the daily RSI line was looking to cross above the daily RSI SMA line, which would be a notable bullish flag. If this flag is validated in the next 24 hours, the crypto could see its price climb to $1,868 in the following 24-48 hours.Given that the 4-hour chart is a more recent representation of ETH’s price movements, investors and traders may want to wait for ETH’s price to break above the $1,833 resistance before looking to enter into a long for ETH. For an extra confirmation, traders may also want to wait for ETH to close a daily candle above the 9-day EMA line.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Technical Indicators Suggest ETH Could Drop to $1,788 Soon appeared first on Coin Edition.See original on CoinEdition More

  • 88 Shares189 Views

    in Cryptocurrency

    Bitgert Unveils Decentralized Real Estate Marketplace Platform

    On May 18, Bitgert announced its Geo Web3 Real Estate Marketplace. The announcement tweet was accompanied by an introduction video showcasing the marketplace’s user interface and a short guide on using it. Meanwhile, at the time of writing, Bitgert (BRISE) trades at a rate of $0.00000035 with a growth rate of 18% over the past 7 days.Bitgert’s Geo Web3 Real Estate Marketplace aims to shake the world of real estate transactions. “Traditional methods of buying and selling property are often slow, cumbersome, and expensive,” according to Bitgert’s guest article on CoinMarketCap.The Real Estate marketplace will be built on Bitgert Chain, which the company has designed for high-volume transactions. As a result, marketplace users will be able to buy and sell property swiftly and securely. Bitgert Chain promises the absence of slow transaction times or high fees.Bitgert also offers a list of other products aside from its upcoming marketplace. Currently, Bitgert has the BRISE dAPP Wallet, BRISE staking, BRISE Swap, Bitgert Bridge, and Audit Solutions with Leaderboard Support.However, its most significant development was the BRC20 blockchain, presented in 2022. Notably, the blockchain offers near-zero gas fees and high-speed cross-chain transactions. In detail, the support throughput is up to 100,000 TPS while the gas fee is $0.0000000000001 per transaction.At the time of writing, Bitgert (BRISE) trades at a rate of $0.00000035 with a growth rate of 18% over the past 7 days. It has a market capitalization of $137,294,208 with a 24-hour trading volume of $1,233,949. BRISE is Bitgert’s native token, which allows investors to benefit from staking and earning rewards in BUSD.The post Bitgert Unveils Decentralized Real Estate Marketplace Platform appeared first on Coin Edition.See original on CoinEdition More

  • 175 Shares129 Views

    in Economy

    Fed’s Jefferson: Inflation “too high,” but impact of high rates not full felt yet

    WASHINGTON (Reuters) – Federal Reserve Governor and vice chair nominee Philip Jefferson said progress on inflation may be slowing but said it was also too early in the policy tightening process to judge the full impact of the rapid rate increases approved by the central bank so far.Inflation “is still too high, and by some measures progress has been slowing,” Jefferson said in comments prepared for delivery to the National Association of Insurance Commissioners. “Outside of energy and food, the progress on inflation remains a challenge,” and in particular there have been “no signs of significant decline” in the broad set of services beyond housing, a large part of the economy where prices have been rising fast, Jefferson said.But he said also that the economy has “slowed considerably” this year. While his baseline forecast does not include recession, he said he expects job growth to slow and the unemployment rate possibly rise over time.And there may be more impact still to come from Fed rate hikes to date, as well as possible “downside risks” from recent stress in the banking industry, he said.Jefferson did not indicate a preference for holding rates steady or proceeding with further rate increases at the Fed’s June meeting, when a rate pause is widely expected. He said, however, he would “consider all these factors” in the context of jobs and inflation data still to be released before the June 13-14 meeting. “History shows that monetary policy works with long and variable lags, and that a year is not a long enoughperiod for demand to feel the full effect of higher interest rates,” Jefferson said. Though he said evidence so far points to only a “modest incremental tightening of lending conditions” as a result of recent banking industry stress, the impact of that on household and business spending was hard to predict.”There is considerable uncertainty about the magnitude of the impact on household spending and business investment, and this uncertainty complicates economic outlook forecasts,” Jefferson said. More

  • 138 Shares99 Views

    in Economy

    Fed’s Logan: data does not yet show June pause is appropriate

    (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Thursday said she’s concerned that “much too high” inflation is not cooling fast enough yet to allow the Fed to pause its interest-rate hike campaign in June.”The data in coming weeks could yet show that it is appropriate to skip a meeting,” Logan said in remarks prepared for delivery to the Texas Bankers Association in San Antonio, referring to the Fed’s twice-quarterly policy-setting meetings, the next of which takes place June 13-14. “As of today, though, we aren’t there yet.” More

  • 75 Shares189 Views

    in Cryptocurrency

    How much is Bitcoin worth today?

    On May 17, U.S. President Joe Biden expressed his confidence in ending the standoff with Republicans to avoid a default, which boosted market sentiment. Bitcoin rose 1.5% thereafter, reaching over $27,400 on the day.Continue Reading on Coin Telegraph More

  • 100 Shares199 Views

    in Cryptocurrency

    VeChain Anticipates Increased VC Investment After MiCA Approval

    Leading enterprise Layer 1 blockchain company, Vechain, has applauded Europe’s regulatory clarity over cryptocurrencies. The blockchain company considers itself one of the great beneficiaries of the enhanced clarity of established crypto rules.VeChain stated its position after the European Council adopted the world’s first comprehensive set of rules from crypto assets regulation, MiCA. The Council’s new rules seek to protect investors by requiring crypto firms to be authorized by the European Union (EU). The authorization will allow them to serve customers in a bloc and to comply with anti-money laundering and anti-terrorism financing rules.Before they passed it on Tuesday, May 16, 2023, EU member states and the parliament already approved MiCA. The impact of this approval resulted in the influx of VC investment into European projects. From 5.9% in Q1, 2023, VC investment into European projects soared to 47.6% in Q2.VeChain sees MiCA’s approval and final adoption as a significant milestone in the blockchain industry’s development. It will improve the confidence level of investors, knowing the law protects them, and encourage more investments into the system.According to reports, VeChain hopes to secure a sizable portion of the VC investments, considering its status as one of the top blockchain companies in the European region. The report claimed that traders will become more confident in holding VeChain’s native token VET, anticipating that VC inflows into the network will increase.On-chain data shows that the development activity level has reached its highest level in four weeks. However, investor sentiment has not followed the same pattern, and VET’s on-chain volume is yet to be affected by the latest positive vibe in the VeChain ecosystem.From traders’ perspective, VET’s price could benefit from the ability of VeChain to attract investors. That could be more probable in the long term, even though MiCA’s adoption by the European Council could support investor confidence and trigger some demand.The post VeChain Anticipates Increased VC Investment After MiCA Approval appeared first on Coin Edition.See original on CoinEdition More

  • 113 Shares149 Views

    in Cryptocurrency

    Crypto.com adds Pay support for MATIC, USDC and DAI

    In a blog post published on May 16, the company announced the addition of Polygon (MATIC), USD Coin (USDC) and Dai (DAI) to Crypto.com Pay, a fiat-to-crypto on-ramp service enabling the purchase of cryptocurrency via credit or debit card. Continue Reading on Coin Telegraph More