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Ethereum Struggles Below $ 1,350, Why 100 SMA Could Trigger Rally
Ethereum struggled to overcome the $ 1,400 resistance and fell to $ 1,275 against the US dollar.
After a failed attempt to get closer to $ 1400, Ethereum started a new bearish wave. ETH surpassed around $ 1,375 before dropping by nearly $ 100. There was a break below the $ 1,350 support level and the 100-hour simple moving average.
However, the bulls were able to protect the support at $ 1,275. The low has formed around $ 1.274 and is currently correcting upward. It is testing the $ 1320 resistance level, which is close to the 50% Fibonacci retracement level of the recent decline from the $ 1375 high to the $ 1274 low.
Why Bitcoin Price Above $ 34k Could Cause A Strong Bounce
Bitcoin price corrected downward but was still offered above $ 32,000 against the US dollar.
Bitcoin price dropped below the $ 33,200 support level. BTC even broke the $ 32,500 support level and the 100-hour simple moving average. The low is being formed at around $ 32,178 and the price is currently rising. It broke through the resistance levels of $ 32,500 and $ 33,000. There was also a break above the 23.6% Fibonacci retracement level on the move down from the $ 38,612 high to the $ 32,178 low.
Swiss company Crypto Broker AG has received a license from FINMA for securities
“Banks can tick the box and start trading with us,” said CEO Rupertus Rotenhäuser.
On February 1, Zurich-based Crypto Broker AG announced that it had received its securities management license from the Swiss Financial Markets Authority.
Crypto Broker AG is part of a digital asset conglomerate that includes asset management and custody services. According to Crypto Broker CEO Rupertus Rothenhauser, the license means expanding the scope and adding a stamp when it comes to compliance, risk monitoring, liquidity reporting, and more.
Bitcoin Whale Transfer Half Billion BTC From Coinbase, Supply At 2-Year Low
Bitcoin Whale has currently transferred ~ 15,000 bitcoins worth half a billion dollars from Coinbase to cold storage.
While the bitcoin price continues to hover around $ 33,500, there is a new influx of new users as well as a surge in whale activity. According to recent developments, the bitcoin whale has now transferred from Coinbase to cold storage – 15,000 bitcoins worth half a billion dollars.
Ripple On Fire price is rapidly approaching $ 1
After consolidation, Ripple surged to the $ 0.5 mark.
XRP is offering $ 1 if resistance at $ 0.6 is broken.
Ripple had the biggest bullish gain since the December 2020 crash. Consolidation groped for the token, leaving it stationary between $ 0.25 and $ 0.3. However, XRP has signaled a possible technical break in the past couple of weeks.
Meanwhile, Ripple is trading at $ 0.54 after beating a conservative forecast. The breakout occurred after the symmetrical triangle pattern.
Bitcoin Miners Earn Over $ 1 Billion In January
Bitcoin miners earned over $ 1.09 billion in January, the highest since December 2017.
Bitcoin miners’ revenues last month surpassed the January 2018 level of $ 1.02 billion. The highest monthly income for Bitcoin miners was recorded in December 2017 – over $ 1.25 billion at the peak of the last bull market.
Tether has dominated the stablecoin markets for the past three years as the Treasury continued to issue them with a record level of nearly $ 27 billion in circulation.
Uniswap records over $ 30 billion in monthly trade volume for January.
The data shows that Uniswap’s decentralized exchange volume in January was just over $ 30 billion.
That figure dwarfs the December amount of roughly $ 15 billion and surpasses Uniswap’s previous record monthly high of $ 18.5 billion since September.
XRP Prices Bounce As Ripple Drops $ 1.3 Billion SEC Lawsuit
The price of cryptocurrency XRP surged 86% just a day after Ripple Labs filed its response to the US Securities and Exchange Commission lawsuit.
XRP is trading at around $ 0.47 per token, up 55.1% on the day. At the same time, the price of the cryptocurrency has surged 73.5% over the past week, according to data from CryptoSlate.
Blockstream Buys $ 25 Million Bitcoin Mining Hardware MicroBT
Blockstream acquired $ 25 million worth of Bitcoin mining hardware.
Popular blockchain company Blockstream has acquired WhatsMiner M30s bitcoin mining hardware from MicroBT for $ 25 million.
Blockstream said in a statement that it plans to deploy the hardware to a variety of mining facilities located in the US and Canada.
In addition, Blockstream announced that it will transfer part of the mining equipment to a new “top-secret” mining enterprise, which it plans to launch in the near future.