Die Gesamtmarktkapitalisierung aller Kryptowährungen ist wieder auf über 1 Billion US-Dollar geklettert, nachdem Bitcoin, Ethereum und andere große Altcoins im zweistelligen Prozentbereich gestiegen sind.
Kursanalyse, 18. Juli: Bitcoin (BTC), Ether (ETH), Ripple (XRP)
Did Bitcoin bottom? The weekend crypto rally has extended into the start of a new week, leading traders to question whether the bottom is in.
Why is Ethereum Classic up by nearly 20% in the last 24 hours?
The cryptocurrency market has continued its positive performance this week as BTC and others rally higher.
The cryptocurrency market has performed well over the past few hours. The total cryptocurrency market cap remains above the $1 trillion mark as the broader market added more than 2% to its value in the last 24 hours.
Bitcoin maintains its price above the $22k resistance level and is up by more than 10% in the last seven days. Ether finally crossed the $1,500 psychological level after adding more than 5% to its value in the last 24 hours.
However, ETC, the native token of the Ethereum Classic blockchain, is the best performer amongst the top 50 cryptocurrencies by market cap. ETC is up by more than 19% in the last 24 hours, outperforming the broader cryptocurrency market in the process.
The rally is probably fueled by the upcoming Ethereum Merge. The merge event will see Ethereum completely migrate to a proof of stake protocol. The Ethereum developers could implement the Merge within September.
If that happens, miners on the Ethereum network could migrate to Ethereum Classic as ETC still uses a proof of work protocol.
Key levels to watch
The ETC/USD 4-hour chart is bullish as Ethereum Classic has been performing excellently over the past few days.
The MACD line crossed into the positive zone over the weekend and has maintained its place there, indicating bullish momentum.
The 14-day relative strength index of 88 shows that ETC is currently in the overbought region.
At press time, ETC is trading at $25. An extended rally over the next 24 hours could see ETC break past the $30 resistance level. However, it would need the support of the broader cryptocurrency market to reach $35 for the first time since April 2022.
If the bears take control of the market, ETC could lose its support level at $21 over the next few hours. However, ETC should comfortably defend its position above the $17 support level in the short term.
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Binance fined €3.3M by Dutch Central Bank over unlicensed operations
Crypto exchange Binance has reportedly been fined €3.3 million (£2.8 million) for operating in the Netherlands without the requisite regulatory authorization.
According to a press release published on Monday, the Dutch Central Bank slapped the leading cryptocurrency exchange with the fine in April.
Binance ‘warned’ in 2021
The registration requirements for all crypto asset providers in the Netherlands was introduced in May 2020, with regulators eyeing compliance as part of the push to prevent potential misuse of virtual assets in illicit activities like money laundering and financing of terrorism.
In its statement Monday, the Dutch Central Bank revealed Binance had failed to adhere to these requirements and continued offering its services – until at least 1 December 2021.
The DNB noted that the fine was as high as possible due Binance’s “serious” violations. The exchange had also operated without any levies for the period in question, with Netherlands having a significant number of Binance users as established during the investigation.
Nonetheless, the regulator reduced the fine by 5% in recognition of the crypto company’s application for registration. The bank also noted that the exchange had been “relatively transparent about its business operations throughout the process.”
Binance reportedly objected to the said fine on 2 June, 2022.
However, Changpeng Zhao, co-founder and CEO, has previously noted that the company is looking to comply with regulatory requirements in all jurisdictions and locations that it offers its services.
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Apecoin returns 18% in a day – How lasting can the gains be?
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Apecoin’s APE has gained 18% in a day as cryptos turn up
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Apecoin token rose to almost $28 in April after token airdrop
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Key breakout positions APE to further gains
Apecoin APE/USD debuted with a lot of hype in March this year. Despite the rest of the market subdued, APE rose strongly to test a high of almost $28. The gains happened as investors rushed to secure windfall gains. Apecoin now remains in the trenches as token trades at single digit prices. This thesis finds APE a strong cryptocurrency as bullish indicators emerge.
APE rose by 18% in 24 hours at press time, with gains in the week now at 25%. The gains happen across the sector, but very few coins have staged strong gains as APE. We believe APE’s bullish momentum is starting out after key breakouts happen.
Apecoin blasts past a key resistance as the price turns bullish
Source – TradingView
Technically, APE is bullish. The cryptocurrency blasted a key resistance of $5.1 on Monday, which previously held it back. The MACD indicators also support a bullish view. With the breakout, it confirms a potential lasting bullish momentum. But here are the two potential buy zones.
The first buy zone is the $5.1 resistance-turned-support. As APE surged, it met another resistance at $6.0. That makes the token susceptible to another drop. If that happens, APE will retreat back to $5.1, which is now our reference support. The second buy zone is $6.0. The buy entry will become active if APE manages another breakout. We need to watch the price action for a potential entry. The next resistance levels for APE are $7.2 and $9.0.
Summary
APE coin has breached a key resistance at $5.1. It has hit another resistance at $6.0. Investors should buy on a retracement to $5.1 or another breakout past $6.0.
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