Ether price could drop by 45% because its ascending triangle breakout looks unconvincing so far.
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Ethereum traders gauge fakeout risks after 40% ETH price rally
Ethereum's native token Ether (ETH) saw a modest pullback on July 17 after ramming into a critical technical resistance confluence.
Merge-led Ethereum price breakout
ETH's price dropped by 1.8% to $1,328 after struggling to move above two strong resistance levels: the 50-day exponential moving average (5-day EMA; the red wave) and a descending trendline (black) serving as a price ceiling since May.
ETH/USD daily price chart. Source: TradingViewPreviously, Ether rallied by over 40% from $1,000 on July 13 to over $1,400 on July 16. The jump appeared partly due to euphoria surrounding "the Merge" slated for September.
Meanwhile, a golden cross's appearance on Ethereum's four-hour chart also boosted Ether's upside sentiment among technical analysts.
ETH price risks fakeout
Ether's 40%-plus price rally since July 13 also had its price break above a critical horizontal resistance that somewhat constitutes an "ascending triangle pattern."
Bitcoin hodlers will 'soon see why' $21.6K BTC price pump is fake — trader
Suspicions over weekend strength come as traders send 17,500 BTC to Binance in less than 24 hours.
Bitcoin hodlers will 'soon see why' $21.6K BTC price pump is fake — trader
Bitcoin (BTC) spiked to one-week highs on July 17 amid warnings that traders should not trust current BTC price action.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance inflows see multi-week high
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $21,600 on Bitstamp, its best performance since last Sunday.
The pair saw a fresh leg up during the weekend, this nonetheless coming on the back of thin, retail-driven "out-of-hours" liquidity with institutions out of the picture.
With Bitcoin prone to "fakeout" moves both up and down in such conditions, there was thus little appetite to believe that current trajectory would endure as the weekly close loomed.
"Don't let CT noise change your vision of how things really are," popular social media account, Il Capo of Crypto, told followers on the day, referencing Crypto Twitter narratives.
The women of crypto take over Davos WEF
Talking with outstanding women at Davos, who are shaping the crypto industry — Gender inclusivity as it is: From investors to mentors to entrepreneurs and technologists.
The women of crypto take over Davos WEF
Talking with outstanding women at Davos, who are shaping the crypto industry — Gender inclusivity as it is: From investors to mentors to entrepreneurs and technologists.
What is Bitcoin whale watching and how to track Bitcoin whales?
There are four primary ways to track whale activities, which include monitoring known whale addresses, order books, sudden changes in market capitalization and trades on crypto exchanges.
How blockchain technology is used to save the environment
It’s hard to overestimate the role blockchain technology will play in achieving more sustainability and lessening the climate crisis.
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Axie Infinity: Re-engineering its destiny in the GameFi landscape
Can Axie Infinity rise to its former glory, as a form of “extreme entrepreneurship” where success can happen overnight, amid the crypto winter and uncertain global economy?
Axie Infinity: Re-engineering its destiny in the GameFi landscape
Can Axie Infinity rise to its former glory, as a form of “extreme entrepreneurship” where success can happen overnight, amid the crypto winter and uncertain global economy?
Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
OpenSea lays off 20% of its staff, citing ‘crypto winter’
Leading NFT marketplace OpenSea plans to lay off around 20% of its staff, with co-founder and CEO Devin Finzer citing “an unprecedented combination of crypto winter and broad macroeconomic instability” as the reasons behind the move. He also added, “The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios (5 years at the current volume), and give us high confidence that we will only have to go through this process once.”
Celsius has filed for bankruptcy
Celsius, the crypto lending platform that has had customer funds locked up for several weeks but previously claimed to be more trustworthy and safer than a bank, filed for Chapter 11 bankruptcy on Wednesday. According to an email received by Celsius customers, the company voluntarily filed petitions for Chapter 11 reorganization and used the same firm as Voyager Digital for its bankruptcy proceedings. It is unclear what will happen with users’ funds at this stage, given there may be a $1.2 billion hole in the firm’s balance sheet.
Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
OpenSea lays off 20% of its staff, citing ‘crypto winter’
Leading NFT marketplace OpenSea plans to lay off around 20% of its staff, with co-founder and CEO Devin Finzer citing “an unprecedented combination of crypto winter and broad macroeconomic instability” as the reasons behind the move. He also added, “The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios (5 years at the current volume), and give us high confidence that we will only have to go through this process once.”
Celsius has filed for bankruptcy
Celsius, the crypto lending platform that has had customer funds locked up for several weeks but previously claimed to be more trustworthy and safer than a bank, filed for Chapter 11 bankruptcy on Wednesday. According to an email received by Celsius customers, the company voluntarily filed petitions for Chapter 11 reorganization and used the same firm as Voyager Digital for its bankruptcy proceedings. It is unclear what will happen with users’ funds at this stage, given there may be a $1.2 billion hole in the firm’s balance sheet.
Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
OpenSea lays off 20% of its staff, citing ‘crypto winter’
Leading NFT marketplace OpenSea plans to lay off around 20% of its staff, with co-founder and CEO Devin Finzer citing “an unprecedented combination of crypto winter and broad macroeconomic instability” as the reasons behind the move. He also added, “The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios (5 years at the current volume), and give us high confidence that we will only have to go through this process once.”
Celsius has filed for bankruptcy
Celsius, the crypto lending platform that has had customer funds locked up for several weeks but previously claimed to be more trustworthy and safer than a bank, filed for Chapter 11 bankruptcy on Wednesday. According to an email received by Celsius customers, the company voluntarily filed petitions for Chapter 11 reorganization and used the same firm as Voyager Digital for its bankruptcy proceedings. It is unclear what will happen with users’ funds at this stage, given there may be a $1.2 billion hole in the firm’s balance sheet.
Bitcoin ready to attack key trendline, says data as BTC price holds $20K
The 200-week moving average could see another test from the bulls next, according to signals from exchange order book composition.
Bitcoin ready to attack key trendline, says data as BTC price holds $20K
Bitcoin (BTC) consolidated higher on July 16 after the Wall Street trading week finished with modest gains for United States equities.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCan Bitcoin bulls reclaim the 200-week moving average?
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging between $20,500 and $21,000 into the weekend.
The pair thus preserved the majority of its comeback from the week's lows, these following shock U.S. inflation data and sparking weakness across risk assets.
Now, out-of-hours trading meant that the classic scenario of breakouts and fakeouts on thin liquidity could accompany Bitcoin into the weekly close.
Eyeing order book data from Binance, the largest global exchange by volume, showed key resistance clustered around the $22,000 mark should bulls attempt to nudge the market higher.
