Ethereum has successfully surpassed a critical resistance level, continuing its rally. However, the RSI is showing warning signs that may indicate a potential reversal or consolidation. Daily Chart Analysis On the daily chart, Ethereum has managed to break through the previously challenging $1800 resistance level after multiple attempts. The upper…
Bitcoin has experienced a significant uptrend over the past week, starting with a sharp V-shaped rebound from the 200-day moving average, which is positioned around the $20K region. This was followed by a decisive breakout above the $25K resistance level. Currently, Bitcoin is approaching the critical $30K zone, a key…
Ethereum (ETH) The overall cryptocurrency market has taken a downturn, and Ethereum (ETH) has experienced a 15% drop over the past week. With support levels now broken, Ethereum is finding it difficult to regain traction, and there is a potential for further decline to around $1,300, where the next significant…
On the daily chart, Ethereum has struggled to surpass the $1800 resistance zone. The price recently hit the upper boundary of a significant symmetrical triangle pattern, but bearish rejection has led to a breakdown of the 50-day moving average, which is currently positioned near $1600. The 200-day moving average, located…
Ethereum’s price has recently surged, breaking out from a multi-month symmetrical triangle pattern. However, momentum has slowed, and after this pullback, Ethereum is now testing the upper trendline of the triangle, which is an essential support level. If Ethereum successfully retests the upper trendline around $1.5K, this may indicate a…
As the world continues to embrace blockchain technology, decentralized data storage solutions have emerged as a critical component in the decentralized web (Web3). Two of the most prominent players in the decentralized storage space are IPFS (InterPlanetary File System) and Arweave. Both systems aim to revolutionize how data is stored,…
Over the past week, Bitcoin has shown strong bullish indicators both technically and on-chain. However, upon reaching a significant resistance level at $24K, the market has seen intense fluctuations between buyers and sellers. The key question now is whether this marks the start of a genuine bull market or if…
Bitcoin’s price has been on an impressive rally, having surpassed both the 50 and 100-day moving averages. It has also broken through the upper trendline of its wedge pattern and reached a significant resistance level around $21.5K. The price momentum is notable, but the market now faces a critical challenge:…
2022 proved to be a much more challenging year for Bitcoin miners compared to 2021. A sharp decline in profitability occurred, driven by a falling Bitcoin price and rising energy costs, making 2022 a particularly difficult year for the mining industry. The Impact of Bitcoin’s Bear Market on Mining Profitability…
As we enter 2023, Ethereum’s position in the blockchain space remains strong following the successful completion of its transition to Ethereum 2.0. With Ethereum now operating on a proof-of-stake (PoS) consensus mechanism, the network is poised to benefit from increased scalability, energy efficiency, and the growing adoption of decentralized finance…