TA: Ethereum Back to Square One, Why ETH Could Surge Again
Ethereum rallied above $2,650 against the US Dollar. ETH price failed to settle above $2,700, trimmed gains, and now consolidating near $2,620. Ethereum started a fresh increase above $2,600, but it faced sellers above $2,700. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair is consolidating above $2,600 and might start another increase in the near term. Ethereum Price Consolidates Ethereum was able to form a base above....
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Square Enix, the Japanese AAA game developer and publisher, announced the launch of a new NFT-based gaming franchise, titled Symbiogenesis. The experience, which will be built on top of Ethereum, will leverage the use of NFTs (non-fungible tokens) as art that users can set as profile pictures and use in a separate NFT market. Square Enix Announces Symbiogenesis NFT Project Square Enix, one of the leading Japanese gaming companies, has announced Symbiogenesis, one of its first NFT-based interactive experiences. On Nov. 3, as part of the company’s participation in the India Game....
Bitcoin has undergone a strong surge over the past few months. Data indicates that this rally is a result of mass accumulation by both retail and institutional players through venues like Square and Grayscale. Square and Grayscale alone have accumulated $2.3 billion worth of Bitcoin in the past quarter. For context, Bitcoin miners brought in around $1 billion worth of BTC over the course of the past quarter. Institutions Accumulate Bitcoin En-Masse: Data Bitcoin has […]
Square's $50M bitcoin purchase has analysts doing back-of-the-envelope math on the possibility of rising allocations from corporate treasurers.
Bitcoin. As we look back on the week Bitcoin was clearly a win. Up from ~ $630 to $710 since this time last week. Ethereum on the other hand, was a loser, down from ~ $13 to ~ $10.75. Happily, our readers were on the right side of these trades for the last week. Having a good week is cause for celebration, but there is always next week to consider. Is it time to take profits on our positions? Let’s start by looking at bitcoin’s daily chart. As you can see the latest advance began after pricetime cleared the 3rd arc [pair. It went almost straight up until it hit the 1×2 Gann angle, where it....
I realize that this column is meant to be focused on price analysis of the major cryptocurrencies, rather than on trading in general. But it is difficult to write a new article every day, particularly when not much has changed in the charts in the last 24 hours! That is the case today. Bitcoin has recovered a little bit of the ground it lost, but not enough to have made any change in the chart. Ethereum is likewise virtually unchanged as well. So, I thought I would take a look at Gann’s Square of Nine and see if it can offer any insight into Support and Resistance on Bitcoin’s chart. I....