Die Bullen konnten den Rückenwind vom 13. Oktober nicht ummünzen, was darauf schließen lässt, dass in den höheren Bereichen weiterhin Verkaufsdruck herrscht.
Bitcoin-Kurs rutscht zurück in Richtung 19.000 US-Dollar ab
Die 20.000 US-Dollar-Marke war für den Moment vielleicht das Maximum, denn für die risikobehafteten Finanzprodukte wie Bitcoin zieht neuer Druck auf.
El Salvador arbeitet weiter unter Hochdruck an der Bitcoin City
Der stellvertretende Botschafter von El Salvador bestätigt, dass das Land auf der Suche nach Investoren ist, die bei der Umsetzung der Bitcoin City helfen wollen.
Ethereum Classic forms a bullish pin bar at support. What’s the outlook now?
Ethereum Classic (ETC/USD) buyers have defended the $23 support after the price temporarily broke below it. The price is stabilising slightly above the support after recovering by more than 8% in the past 24 hours. But can the cryptocurrency sustain a further recovery?
Macro developments and Ethereum Classic’s own fundamentals are likely to be key price influencers. For the former, there is a lot of uncertainty regarding the Fed’s action on account of increasing inflation. The inflation surge was responsible for ETC’s decline on Thursday. The consumer price index is expected to remain a thorn, at least in the foreseeable future. There are expectations that the Federal Reserve will act fast to tame the rising inflation.
On Ethereum Classic’s own fundamentals, there are hardly any positive developments. The previous gains on ETC were centred around Ethereum’s shift to a Proof-of-State consensus mechanism. It was expected that the Merge would attract Proof-of-Work miners to Ethereum Classic. It did, as Ethereum Classic saw a rise in hash rate post-Merge. Nonetheless, the hype around the shift has since subsided. ETC has maintained a downtrend, although the potential for recovery remains.
Ethereum Classic battles the $23 support
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Source – TradingView
Technically, it is a mixed scenario for Ethereum Classic. The cryptocurrency now sits at $23 support. A good note to the buyers is that a bullish pin bar formed at the support, reigniting hopes of price recovery.
Conversely, ETC sellers would be delighted with the current weak momentum experienced at the support. The MACD indicator recently initiated a bearish crossover and remains in the bear zone. The moving averages above the current price reinforce a bearish view.
Should you buy ETC?
While we remain optimistic about the ETC comeback after the bullish pin bar, the price may still crash below $23. All the technical indicators show a bearish and/or weak momentum. Consider buying after further bullish price action pointers.
The post Ethereum Classic forms a bullish pin bar at support. What’s the outlook now? appeared first on CoinJournal.
BNB defends $267 support. Should you buy it?
Binance (BNB/USD) trades at $273.7. The trading happened after the cryptocurrency fell to $257 on Thursday. BNB has since left a bullish trail that could interest buyers. But first, let’s look at a short brief.
For the past week, BNB has been bearish and remains 2% down in the seven days to Friday. About a week ago, Binance Chan was drained, with over $100 million of assets getting moved. The hack was a bear trigger as BNB price has been falling.
Binance has since released an update to fix the cross-chain issue that could have led to the exploit. Recently, CoinJournal reported that the developers had released a temporary patch, v1.1.16. It will fix the BNB Beacon Chain and BNB Smart Chain cross-chain infrastructure. The patch also re-starts the cross-chain communication halted by the attack.
BNB succumbed to bear pressure again on Thursday after inflation data, pushing the token below the $267 support. A higher-than-expected 8.2% jump in inflation raised prospects that the Federal Reserve could hike rates in November. Bulls seem to defy the flash crash, going by the current price action at the support.
BNB surges above $267 support as price recovers
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Capital.com
Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
Buy BNB with Capital.com today
Source – TradingView
A technical outlook of BNB shows a bullish pin bar at the $267 support. The token is pushing higher, but we remain cautious due to the weak momentum of the price movement. The MACD indicator is in the bear zone. Similarly, the moving averages offer resistance above.
What way, BNB?
BNB buyers are defending $267, giving the cryptocurrency a real chance to go higher. However, we should wait for momentum to build at the key support before buying. A retest of the support zone followed by bullish reversal signals or improved sentiment could attract buyers.
The post BNB defends $267 support. Should you buy it? appeared first on CoinJournal.