Falls sich die 24.500 US-Dollar-Marke für Bitcoin als lokales Hoch herauskristallisiert, könnte es schon bald wieder nach unten gehen.
Bitcoin-Miner seit Mai zu massiven Abverkäufen gezwungen, Lage bessert sich
Die Miner haben in den letzten Monaten für verstärkten Verkaufsdruck auf den Bitcoin-Kurs gesorgt, doch dieser Trend scheint sich langsam wieder umzukehren.
Why is EOS up by more than 30% in the last 24 hours?
The cryptocurrency market is turning things around today, and EOS is one of the best-performing cryptocurrencies among the top 50 coins.
EOS, the native coin of the EOSIO ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap. EOS has added more than 30% to its value in the last 24 hours.
The rally comes as EOSIO is set for a rebrand. The EOSIO is the blockchain, and it is set for a major rebrand. The rebrand would also lead to the fork of the EOS coin. According to the team, the EOS Network Foundation would soon be in charge of the EOS blockchain.
The rally comes as the broader cryptocurrency market is recovering from the slump it suffered earlier this week. For the first time this week, the cryptocurrency market is trading in the green zone.
The market has added more than 1% to its value over the past 24 hours, with the total market cap now around $1.15 trillion.
Bitcoin is still trading above $24k per coin, while Ether has surged past the $1,900 mark again after adding more than 2% to its value in the last 24 hours.
Key levels to watch
The EOS/USD 4-hour chart is one of the most bullish charts amongst the top 100 cryptocurrencies by market cap.
The MACD line is deep within the positive zone, indicating that EOS is experiencing a bullish momentum at the moment.
The 14-day RSI of 81 shows that EOS is currently in the overbought region after rallying by more than 40% over the past seven days.
At press time, EOS is trading at $1.620 per coin. If the rally continues, EOS could trade above the $2.059 resistance point for the first time since May.
However, EOS could need the support of the broader crypto market to make a move past the $2.488 resistance level over the next few days.
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Has Solana started a bear reversal, or is it just a correction?
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Solana has been dropping for the last 3 months.
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The token is yet to break below key support, the recent breakout zone.
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Solana could head to $60 next if it overcomes the latest weakness.
Solana SOL/USD has lost 1.90% in the last 24 hours. The token remains in the green for the past one week. Our earlier projection set the target at $60, following a key breakout at $43. Solana seems to have lost its previous aggressive bull surge after 3 consecutive days of decline. This thesis interrogates further whether the recent decline is long-lasting or short-lived.
The bearish move of Solana takes the price to $43.44 at press time. We find that Solana’s support is at $43. It suggests that the token is retesting the support, and we are yet to confirm a bearish reversal.
Further scrutiny of Solana shows that the token is on a clear uptrend. The cryptocurrency has successfully overcome the latest hack-inspired decline. It has maintained a system of higher highs and higher lows. The momentum has still not been the strongest.
Solana remains supported at $43 amid bear weakness
Source – TradingView
Technically, the indicators read bullish for SOL. From the daily chart outlook, the MACD line closed above the moving average, confirming bullish momentum. The 21-day and 50-day moving averages also support the token.
The current indications are that SOL is undergoing a correction. There is no confirmed bearish reversal. Investors should watch price action at $43 for a potential bullish reversal. In the less likely scenario that $43 fails to hold, SOL could find the next support at $35.
Summary
Solana token has maintained the $43 support despite the latest weakness. The bull case for the token remains in place. The current retracement is a correction likely to open buy opportunities.
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Fed tells banks to pay attention to legal aspects before jumping into crypto
The Federal Reserve Board wants to see banks take time to understand the cryptocurrency space first before diving in.
The US Federal Reserve Board has warned banks looking to engage in crypto-related activities or offer such services to ensure they are familiar with applicable regulatory requirements and guidelines.
The Fed’s caution to Board-supervised banking institutions was announced in a letter released on Tuesday, and comes after recent high-profile crypto-related engagements involving the world’s largest asset investment manager BlackRock.
“The emerging crypto-asset sector presents potential opportunities to banking organisations, their customers, and the overall financial system,” the Fed noted in the press release. However, the central banks’ take is that crypto can pose certain risks, including consumer protection and financial stability.
So, while the overall opportunity for investors is there, the regulator wants banks to ensure they understand the legal environment and related requirements before they get involved.
Fed outlines steps banks need to follow
In its supervisory letter, the Fed therefore calls on banks to take such steps as assessing whether the crypto activity of interest is “legally permissible.”
They also need to determine whether there are any regulatory filings to be made, with banking organisations now required to notify the central bank before diving into crypto-related activities.
Another key consideration banking institutions need to look at is whether they are adequately prepared in terms of having required safety systems and controls.
Last month, the Federal Deposit Insurance Corporation (FDIC) warned crypto users that the agency’s deposit protections do not apply to cryptocurrencies or crypto firms. This came as the government agency asked companies not to mislead consumers.
In 2021, the Fed Board, FDIC, and the Office of the Comptroller of the Currency (OCC), jointly released a statement on crypto policy, while the push to bring clarity to the industry continues across the world.
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