Connect with us

Blockchain

Price Analysis: Ethereum, Bitcoin, Stellar

ETH eyes $3k, BTC holds above $54k, and XLM is set for an upside…

The post Price Analysis: Ethereum, Bitcoin, Stellar appeared first on Coin Journal.

Avatar

Published

on

ETH eyes $3k, BTC holds above $54k, and XLM is set for an upside above $0.55

Ethereum (ETH) reached a new all-time high of $2,800, leading the altcoin market as Bitcoin (BTC) continued to battle pressure near $54,000. Ethereum might attempt to reach $3,000 over the next few days, while BTC is likely to first seek support near $53k before embarking on a fresh upside in May.

Stellar (XLM) is trading near the $0.50 support level, which could be critical to bulls’ plans for another leg up after its price increased by over 25% this past week.

What, then, is the price outlook for ETH, BTC, and XLM as we head towards the monthly close?

Ethereum price

ETH/USD daily chart. Source: TradingView

Ethereum’s price is up 23% over the past week, trading higher on positive news that the European Investment Bank had launched a $120.8 million “digital bond” project on the Ethereum blockchain.

Although the RSI suggests some exhaustion, the price remains near the tip of an ascending channel on the daily chart. The rising curves of the moving averages also suggest the potential for a new upside.

If the uncertainty suggested by the previous candlestick resolves on the upside, ETH/USD could rally to $3,000. The immediate target beyond this barrier would be $3,200.

The channel middle line near $2,550 and the 20-day EMA ($2,422) should act as primary support levels if price turns down.

BTC price

BTC/USD 4-hour chart. Source: TradingView

Over $4.2 billion options expire today, a factor that has seen some pressure on BTC as it hovers near $54,500.

Price is likely to flip higher short term if downward pressure decreases post the options expiry.

In this case, an upward shift in sentiment could ignite fresh momentum in the Bitcoin market. The RSI and MACD are positive and BTC/USD might extend towards the100 SMA on the 4-hour chart ($55,880). Further gains lie near the decline points of $57,800 and $59,560. Per one analyst, BTC/USD

Conversely, failure to consolidate above $54,000 might see Bitcoin price fall towards support at $53k and $51,200.

Stellar (XLM) price

XLM/USD 4-hour chart. Source: TradingView

XLM bulls are looking to hold prices above a major horizontal support line at $0.50. The 100 SMA line ($0.52) on the 4-hour chart currently provides an immediate barrier. If they manage to break higher, a retest of the $0.54 level, where the 0.5 Fibonacci retracement level is, would allow for further gains towards the 0.618 Fib level ($0.57).

The next barrier would be at $0.62, with a push for $0.70 likely if upside momentum continues.

On the downside, a break below $0.50 will invite additional sell-off pressure and push XLM price towards support at the 0.236 Fib level ($0.46). Bears might then target a low of $0.39 if downside correction takes prices beyond the $0.41 support line.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/price-analysis-ethereum-bitcoin-stellar/

Blockchain

Binance Coin, Polkadot, MATIC Price Analysis: 12 May

While Ethereum, the world’s largest altcoin, may be breaching one ATH after the other, the same cannot be said for the rest of the market’s altcoins, including the likes of Binance Coin and Polkadot.

The post Binance Coin, Polkadot, MATIC Price Analysis: 12 May appeared first on AMBCrypto.

Avatar

Published

on

While Ethereum, the world’s largest altcoin, may be breaching one ATH after the other, the same cannot be said for the rest of the market’s altcoins, including the likes of Binance Coin and Polkadot. Others like MATIC, however, were quick to take ETH’s lead, with the former recording significant gains of its own over the last week.

Binance Coin [BNB]

Source: BNB/USD on TradingView

The crypto-market’s premier exchange token, Binance Coin has been one of the year’s best performers with YTD returns of 1675%, at press time. The last 10 days or so, however, have seen the altcoin’s uptrend stall somewhat, with the crypto continuing to trade around the $650-price level. In fact, at the time of writing, BNB was just less than 5% away from its ATH on the charts.

Despite BNB choosing to consolidate its position instead of hiking, the altcoin’s technical indicators were continuing to flash bullish cues.

While Parabolic SAR’s dotted markers were under the price candles and underlined the bullish nature of the BNB market, the Relative Strength Index was skirting the overbought zone. With room available towards the north, RSI can be expected to head towards the overbought zone once the price of the crypto climbs once again.

Here, it’s worth noting that BNB’s price action this year has fueled expectations that the alt might touch $1000 before the end of the year.

Polkadot [DOT]

Source: DOT/USD on TradingView

Thanks to Polkadot’s inconsistent movement over the past few months, DOT’s position on CoinMarketCap had been usurped somewhat, at press time, with the likes of Dogecoin and ICP trading well ahead of it. Over the said period, DOT’s movement has followed the crest and trough pattern, with the alt being unable to register a sustained trend in any direction.

In the last week alone, DOT fell by over 12% in 3 days, with the crypto climbing the charts again soon after.

The mouth of Bollinger Bands was widening to highlight the likelihood of incoming price volatility. MACD line was hovering above the Signal line, but only just, suggesting that the possibility of a bearish crossover in the near term was high.

The aforementioned findings were in line with those underlined by a recent analysis, with the same predicting that the MACD can also be projected to fall below the histogram soon.

MATIC

Source: MATIC/USD on TradingView

MATIC was one of the few alts to hike in correspondence with Ethereum’s own hike, with the crypto climbing by over 50% in just 5 days. In fact, at press time, the crypto had climbed to yet another ATH on the charts, with the alt’s bullish momentum looking set to continue for a longer while, at least until ETH’s surge loses momentum.

Interestingly, MATIC’s latest uptick, in opposition to its late-April surge, wasn’t accompanied by a consistent spike in trading volume.

While the Awesome Oscillator’s histogram pictured the market momentum rising across the board, the Chaikin Money Flow was heading towards 0.20 on the back of growing capital inflows.

With MATIC’s supply nearly wiped off of exchanges, it’s worth noting what a retail trader might expect from the crypto in the near future.


Sign Up For Our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/binance-coin-polkadot-matic-price-analysis-12-may

Continue Reading

Blockchain

Tesla stops taking bitcoin for car purchases, citing ‘great cost to the environment’

Elon Musk tweeted out a statement on Wednesday night explaining why the electric carmaker has stopped taking bitcoin as payment for its cars.

The post Tesla stops taking bitcoin for car purchases, citing ‘great cost to the environment’ appeared first on The Block.

Avatar

Published

on

Tesla CEO Elon Musk posted a tweet Wednesday evening announcing that Tesla will suspend vehicle purchases using bitcoin due to concerns over the environmental impact of the cryptocurrency.

“We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” read the statement.

The electric car maker began taking bitcoin for payment in March, just over a month after it disclosed in an SEC filing that revealed a purchase of $1.5 billion worth of bitcoin. Last month, its earnings report for the first quarter of 2021 revealed that Tesla had sold $272 million worth of its bitcoin holdings.

“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy,” the new statement reads. “We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”

Related Reading

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.theblockcrypto.com/linked/104720/tesla-stops-taking-bitcoin-payments?utm_source=rss&utm_medium=rss

Continue Reading

Blockchain

Craig Wright Allowed to Serve 16 Bitcoin Developers Over $4B of Stolen BTC

After getting approval by the Business and Property Courts of the High Court in London, Wright will go after Bitcoin developers over stolen BTC worth $4B.

Avatar

Published

on

Craig Wright’s legal attempts to sue a dozen developers working on the networks of Bitcoin, Bitcoin Cash, Bitcoin Cash ABC, and Bitcoin SV have been approved. By tapping a law firm called ONTIER, the self-proclaimed Satoshi Nakamoto will go after the developers to make them recover over $4 billion of BTC supposedly stolen from his computer last year.

CSW Granted Permission to Go After Bitcoin Developers

CryptoPotato reported in late February when Wright and ONTIER announced plans to pursue legal action against the developers of Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Cash ABC (BCH ABC).

The firm acted on behalf of Tulip Trading Limited (TTL) – a Seychelles-based entity with Wright being the primary beneficial owner. In the statement, both parties claimed that Wright’s computer was hacked in 2020, and the perpetrators somehow stole his private keys to two addresses, which held over $4 billion in bitcoin.

Consequently, the law firm requested that the developers “enable TTL to regain access to and control of its bitcoins on the grounds that they owe Bitcoin owners both tortious and fiduciary duties under English law.”

Although their claims seemed a bit controversial, to say the least, the firm has been allowed to go forward and serve the developers, according to a statement made by ONTIER on May 12th.


ADVERTISEMENT

It reads that the firm has “commenced the process of serving legal proceedings on 16 Bitcoin developers.” The company was granted permission to serve them out of the jurisdiction by the Business and Property Courts of the High Court in London after 145-page application submission.

The statement highlighted once again that “Dr. Wright is the inventor of Bitcoin” and described TTL as the real victim in this case.

“Tulip Trading is, purely and simply, a victim of theft. The hacking was first reported to the police in February last year. TTL has not been granted permission to seek recovery of its access to and control of its digital assets from those in a position to remedy its loss. The fact that someone has stolen TTL’s digitally-held, encrypted private Bitcoin keys does not prevent developers from deploying code to enable the rightful owner to regain control of its bitcoin.”

To Help the Masses

As with the first statement in February, ONTIER and Wright asserted that if this case succeeds, it could help numerous others victims that have been hacked in the past.

“In what may prove to be a huge relief to many, a ruling in Tulip Trading’s favor would have considerable implications for those who have lost access to their Bitcoin or had coins stolen.”

This is far from being Wright’s first controversial legal endeavor related to the cryptocurrency industry. After claiming, without conclusive evidence, though, that he is indeed Satoshi Nakamoto, his lawyers recently warned two bitcoin-related websites to remove the asset’s whitepaper as he supposedly owns legal rights to the document and the Bitcoin name.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/craig-wright-allowed-to-serve-16-bitcoin-developers-over-4b-of-stolen-btc/

Continue Reading

Blockchain

Ethernity Chain Immortalizes Tony Hawk’s Last 540 Skate Trick With NFT

[Press Release – Los Angeles, California, 12th May, 2021] Iconic skater Tony Hawk will soon have his own NFT thanks to the Ethernity Chain platform. The new NFT collection will launch on Wednesday May 12 at 12PM ET and be available for 24 hours. Hawk recently performed what he insists will be HIS last ever […]

Avatar

Published

on

[Press Release – Los Angeles, California, 12th May, 2021]

Iconic skater Tony Hawk will soon have his own NFT thanks to the Ethernity Chain platform. The new NFT collection will launch on Wednesday May 12 at 12PM ET and be available for 24 hours.

Hawk recently performed what he insists will be HIS last ever “540” skate trick, and the moment in time will be preserved for eternity as an authenticated NFT (aNFT). The winning bidder will also receive the actual skateboard and shoes used in the final trick.

The legendary skater’s last ever 540 constitutes just part of a coveted collection co-created by influential digital artist Ondrej Zunka, a boyhood fan of Hawk.

“Birdman” will also provide one of his own skateboards, modeled after the inverted handstand and represented as an aNFT. Ethernity plans to raffle the skateboard randomly to a buyer of the aNFT.

The collection is completed by Graffiti Wall, a colorful artwork featuring contributions from skating enthusiasts in the form of messages, drawings and slogans etched on a blank canvas.

“I spend a lot of time around skateparks and there’s always a lot of graffiti everywhere, so I made this public Graffiti Wall inviting friends, family and the public to add a note to Tony,” said Zunka.

“I’ve created a texture from all of these messages and projected them onto the ramps, so whoever participated is now part of these two NFTs.”

Ethernity, which is committed to bringing legendary figures, real world collectibles, and fan engagement to blockchain, recently released aNFTs of Muhammad Ali, Pelé and baseball star Fernando Tatlis Jr. As with Hawk’s collection, each auction also included physical collectibles such as custom baseball bats and gloves worn by the boxer.

About Ethernity

Ethernity is exploring applications for non-fungible tokens (NFTs) within the context of art and philanthropy. It provides a way for celebrities and public figures to endorse digital artwork created by renowned artists. Anyone can purchase each limited edition artwork, with a portion of the proceeds going to charitable causes that the celebrity supports. Ethernity was founded by early Bitcoin investor and NFT innovator Nick Rose Ntertsas.

Learn more: http://ethernity.io/

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/ethernity-chain-immortalizes-tony-hawks-last-540-skate-trick-with-nft/

Continue Reading
Esports7 mins ago

Respawn disables Valkyrie in Firing Range after kill farming exploit

Esports8 mins ago

Twitch Rivals, Maximilian Dood announce Mortal Kombat X Lives

Publications10 mins ago

SDG Update – 11 May 2021

Europe
Esports13 mins ago

G2 edge out FaZe to set up Heroic matchup at Flashpoint

AI28 mins ago

HyperRec: Efficient Recommender Systems with Hyperdimensional Computing

Cleantech40 mins ago

Tips and Tricks to Avoid Clogged Drains

Cleantech40 mins ago

Tips and Tricks to Avoid Clogged Drains

SaaS40 mins ago

SaaS40 mins ago

SaaS40 mins ago

SaaS40 mins ago

SaaS40 mins ago

SaaS40 mins ago

SaaS40 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

SaaS41 mins ago

Globe NewsWire44 mins ago

Grupo Aeroportuario del Pacifico Announces Payment Date for Capital Stock Reduction Approved at the General Extraordinary Shareholders’ Meeting

Cleantech48 mins ago

The 6 Uses of Green Technology

Cleantech48 mins ago

The 6 Uses of Green Technology

Blockchain48 mins ago

Binance Coin, Polkadot, MATIC Price Analysis: 12 May

Fintech51 mins ago

Melbourne F&B tech eyes SE Asia expansion

Fintech51 mins ago

Melbourne F&B tech eyes SE Asia expansion

Esports1 hour ago

ESL to insert Ancient into map pool for IEM Summer

PR Newswire1 hour ago

310 Units growth expected in Luxury Yacht Market | 10.23% YOY growth in 2020 amid COVID-19 Spread | Europe to Notice Maximum Growth | Technavio

Trending