Ethereum Constructive Above Key Technicals
Following a strong first half to the year, ETH/USD kicks off the new quarter in an upbeat mood, above key technical levels
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Following a strong first half to the year, ETH/USD kicks off the new quarter in an upbeat mood, above key technical levels
Cryptocurrencies are being influenced by the regulatory outlook in the USA. The Securities and Exchange Commission is currently reviewing applications for the establishment of exchange-traded funds that would hold Bitcoin.
Bitcoin has charted a series of higher troughs followed by higher peaks. This puts the cryptocurrency into an uptrend. In April, BTCUSD challenged the psychological $30,000 level but was unable to break through conclusively. It has been in corrective mode since reacting off this key level since then.
The Securities and Exchange Commission (SEC) on Monday filed thirteen charges against crypto firm Binance, as the regulatory environment continues to tighten in the US
Bitcoin attempted to break the 30,000 level in April, but this failed, and the cryptocurrency has been treading water since.
ETH/USD heads to the conclusion of a mixed month after April’s 2023 high, as this week’s strong start is capped by the upper border of the daily Ichimokou Cloud
The bitcoin daily chart is trying to break out of its bearish channel between the lower blue and red bands. To this end, we are keeping an eye on its RSI.
Bitcoin has declined below $27,000 as investors considered news of reduced crypto-trading businesses from two major institutional liquidity providers in the U.S. Bloomberg recently reported that Jane Street and Jump Crypto, two of the largest crypto market makers, are stepping back from crypto trading in the U.S. due to the country's regulators cracking down on the industry.
ETH/USD shed around 8% last week, which puts it in a precarious position, but tries to defend critical technical levels
Bitcoin's rally is largely based on an expectation that the Fed will shift from a tightening policy to possibly cutting rates. According to the CME FedWatch Tool, markets see a potential decline of rates to 4.25% by year-end. In effect, there has been a repricing of rate-hike bets as market participants focus on financial stability risk.
DOGE/USD rallies as Elon Musk removed the blue bird as the logo of Twitter and replaced it with an image of a Shiba Inu dog, which is the logo of the Dogecoin cryptocurrency
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