Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday.
Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish . 382 Fib) but was unable to close a daily candle above the coveted level. The resistance there is further bolstered by the 100-day MA.
Since then, BTC rolled over and broke beneath $39,000 today. BTC now trades below the ascending price channel.
Looking ahead, if the sellers push lower, the first support lies at $38,000. This is followed by $37,000, $36,620, $35,000, $34,710 (50-day MA), $34,000 (20-day MA), and $33,520.
On the other side, the first resistance lies at $39,500. This is followed by $40,000 (100-day MA), $40,500 (bearish . 382 Fib), $42,000 (January 2021 highs), and $44,750 (200-day MA).
Ethereum witnessed a 15.1% price hike this week as it reached as high as $2450. It penetrated the 200-day MA last Friday as it broke back above $2000. From there, ETH continued above the 50-day MA and pushed higher to reach the resistance at $2400.
ETH failed to close a daily candle that was above a declining trend line from mid-May. ETH is now trading at support from a short-term rising trendline, as seen on the 4-hour charts.
Looking ahead, if the sellers break the trend line, the first support lies at $2300. This is followed by $2250 (. 236 Fib), $2200, $2150 (. 382 Fib, 200-day MA & 50-day MA), $2070 (.5 Fib), and $2000.
On the other side, the first resistance lies around $2400 (the falling trend line). Above this, resistance is expected at $2440 (1. 272 Fib Extension), $2530 (1. 414 Fib Extension & 100-day MA), $2600, and $2726 (bearish . 382 Fib Retracement).
ETH consolidates within a symmetrical triangle formation against Bitcoin. The resistance was at the upper triangle angle last Friday. It then fell lower, before finding support at the lower angle Wednesday at 0. 0573 BTC.
It has since rebounded from there and is now testing the 20-day MA level above 0. 06 BTC. The market is rapidly approaching the apex and a breakout is possible soon.
Looking ahead, if the bulls break above the 20-day MA, the first resistance lies between 0. 0616 BTC and 0.062 BTC – the 50-day MA and the upper angle of the triangle. Above the triangle, resistance lies at 0.064 BTC (100-day MA), 0. 069 BTC (bearish . 618 Fib & July highs), and 0.072 BTC.
On the other hand, the first support is at 0. 06 BTC. Then, follow by 0. 058 BTC (. 786 Fib & lower angle of the triangle), 0. 056 BTC, and 0. 0541 BTC. Additional support is available at 0. 05 BTC (200-day MA).
XRP is up by a solid 21.5% this week, making it the strongest performer in the top 10. It broke above the 20-day MA at $0.6 on Monday and had been surging higher ever since. It went on to break the 50-day MA on Wednesday as it climbed above the $0.7 level.
Yesterday XRP spiked to $0. 782 (bearish . 236 Fib) but could not overcome this level. In addition, the 200-day MA further bolstered the resistance here. As a result, XRP rolled over today and is now trading around $0.72.
Looking ahead, the first support is at $0.7. The next support is $0.7. 673 (50-day MA), $0. 62 (20-day MA), $0.6, and $0.556.
The other side has the first resistance at $0. 78 (bearish . 236 Fib & 200-day MA). Then, $0. 8282 (2020 high), $0.9, $0. 95 (100-day MA), and $1.00.
XRP is also performing well against BTC after bouncing from the support at 1600 SAT on Wednesday. It found support at the lower end of the descending price channel it had been trading within since July’s beginning.
The break above 1800 SAT on Wednesday allowed XRP to break the price channel and put XRP above the 20-day MA. Since then, XRP has pushed higher but is struggling to break 1900 SAT (July 2020 low).
Looking ahead, above 1900 SAT, the first resistance lies at 1950 SAT (50-day MA). This is followed by 2000 SAT, 2120 SAT (bearish . 236 Fib), and 2300 SAT (100-day MA).
On the other side, the first support lies at 1800 SAT (20-day MA). This is followed by 1740 SAT (200-day MA), 1660 SAT, and 1600 SAT.
BNB is up by a small 5.3% from where it was trading last Friday as it sits at $310. The cryptocurrency was beneath $300 at the start of the week but eventually managed to push above it during the BTC push higher.
BNB is trading inside a symmetrical triangle pattern and recently hit the upper angle of this pattern today at $325. For a bullish push towards the June highs, a breakout of this triangle is necessary.
Looking ahead, the first support lies at $305 (. 786 Fib & 20-day MA). This is followed by $300, $275 (lowe angle of the triangle), $244 (. 886 Fib), and $225 (June lows).
On the other side, the first resistance lies at $325 (upper angle of the triangle). This is followed by $350, $288 (bearish . 382 Fib), and $400 (100-day MA).
BTC is in trouble after BNB set a new two month low this week at 0. 0077 BTC. At the beginning of the week, the coin fell below a symmetrical triangle and continued to fall as the week progressed.
It has since recovered from July’s lows and is now trying to break the resistance at 0. 008 BTC again.
Looking ahead, the first support is at 0. 0077 BTC. Then, follow by 0. 0075 BTC (. 618 Fib), 0.007 BTC (200-day MA), 0. 00675 BTC (May lows), and 0. 0061 (. 786 Fib).
On the other hand, the first resistance is above 0. 008 BTC lies at 0. 0085 BTC. Then, follow by 0. 009 BTC (50-day MA), 0. 0096 BTC, and 0. 01 BTC.
SOL is up around 10% this week as the coin attempts to break resistance at the 50-day MA level. It bounced from $26. 30 at the start of the week and battled to break the 20-day MA at around $28.
The break above the 20-day MA finally came yesterday as SOL surged above $30. However, it is now battling the 50-day MA resistance that is bolstered by the upper angle of a short-term triangle pattern.
Looking ahead, if the bulls can break the 50-day MA at $32 and climb above the triangle, the first resistance lies at $34 (bearish . 382 Fib Retracement). This is followed by $36 (100-day MA), $38. 60 (bearish .5 Fib), and $40.
On the other side, the first support lies at $30. This is followed by $28. 88 (. 382 Fib), $28 (20-day MA), $26. 30 (. 618 Fb), and $25 (200-day MA & lower angle of the triangle).
Despite a slow decline in BTC this week, SOL found support at the June lows of 0. 0007 BTC yesterday.
SOL rebounded at this support yesterday and hit the 20-day MA at 0. 000831 BTC today.
Looking ahead, if the buyers can break the 20-day MA, the first strong resistance lies at 0. 0009 BTC (bearish . 382 Fib, 100-day MA & 50-day MA). This is followed by 0.001 BTC (bearish .5 Fib), 0. 00107 BTC (bearish . 618 Fib), and 0. 0011 BTC.
On the other hand, the first support is at 0. 0007 BTC. Beneath this, support lies at 0.00061 BTC (May low), 0. 000581 BTC (200-day MA), 0. 00053 BTC (downside 1. 618 Fib Extension), and 0. 0005 BTC.
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Mint-free OKX Football Cup NFTs for group stage games enter the second round
The second round of group-stage games at the FIFA World Cup 2022 began today. Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends Get a chance to redeem stakes and collect rewards by December 20. FIFA World Cup group stage games enter the second round The second round…
- The second round of group-stage games at the FIFA World Cup 2022 began today.
Users can still mint free OKX Football Cup NFTs until the FIFA 2022 Group stage ends
Get a chance to redeem stakes and collect rewards by December 20.
FIFA World Cup group stage games enter the second round
The second round of the group stage games for the FIFA World Cup in Qatar is underway. There were some big upsets in the first round, with Saudi Arabia winning against Argentina and Germany losing against Japan.
The second round of games started today and the chances for the host nation to qualify for the knockout round are virtually nonexistent.
You have the chance to get OKX Football NFTs for free as the world cup continues. A week ago, crypto exchange OKX announced the launch of its NFT Football Cup.
The OKX Football Cup is part of the crypto exchange’s ‘The OKX Football Festival,’ and it is giving millions of fans around the world the opportunity to earn from a great prize pool.
With this competition, users can mint free NFTs of their preferred teams and use the NFTs to predict matches and stand a chance to win huge prizes.
NFT minting will end after the group stages
The free minting of the NFTs began on November 21st and will end on December 3rd. All users can participate in minting as long as there are group stages. Users must stake 0.01 for each mint. 01 ETH. You can create up to three teams prior to the group stage. With the first round of games producing some shocking results, you can look at the tables so far and partake in the OKX Football Cup.
Each match offers a fixed prize pool of 20,000 USDT. OKX revealed that it adds 10 USDT for every NFT minted, thus, growing the prize pool.
As an NFT owner, you will earn a share of the $20k in USDT if your team wins a match. However, when the teams draw, each side will share $10,000 in USDT
Participants will also have the option of redeeming their full stakes at the completion of the OKX Football Cup.
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BNB recovers above a critical level. Do we need to wait for another bullish push?
Binance token rose by 17% on Wednesday. The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad. BNB eyes $330 next and is a buy on a retracement As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any…
Binance token rose by 17% on Wednesday.
The crypto exchange has announced the sale of HOOK tokens on Binance Launchpad.
BNB eyes $330 next and is a buy on a retracement
As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. Since July, BNB has maintained the level and any decline below could have given bears complete control. However, it is now not the case as BNB trades at $295, well above the crucial level. It is possible that cryptocurrency may be heading for the next level. What happened then?
The gains in BNB happened after November 23 cryptocurrency news. BNB’s price rose by 17% on the day after the exchange announced the Hooked Protocol (HOOK) token sale on Binance Launchpad. This is the 29th project launching on Binance Launchpad.
According to the announcement, the token sale will occur through a lottery and conclude on December 1. 25 million HOOK coins have been allocated to the launchpad, equivalent to 5% of the total supply.
This latest development comes as Binance continues to reassure users following the collapse of FTX. Binance announced Thursday that it would contribute $1 billion to help protect crypto-related firms. Binance has committed to increasing this amount if necessary and will look to include traditional financial institutions. This fund is the result of a series of measures that are designed to ensure users have sufficient reserves in case of a crypto confidence crisis.
BNB price action as token hits a 2-week high
BNB rose from a low of around $250 to a 2-week high of $303. The $266 has been re-established as the immediate support for the cryptocurrency.
A bullish MACD crossover was initiated after the bullish push. The RSI also moved above its midpoint, which suggests that BNB has attracted a lot more buyers since the breakout. The cryptocurrency is consolidating ahead the next move.
Should you buy BNB now?
Buyers may not be done with BNB, with the area around $330 and $360 as the next target. However, if intending to buy BNB, wait for some correction to snap it lower. This consolidation could lead to a correction before the next bullish leg.
Where to buy BNB
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users have the ability to connect with, learn, copy, or get copied from other users.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is known for its low trading fees and multiple trading options. These include margin trading, peer-to-peer, spot trading, and margin trading.
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Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack
A major cryptocurrency mining pool was attacked by hackers in early March, according to the pool’s owner. The hackers stole digital assets worth $3 million from the pool and its clients.
Chinese Authorities Open Investigation into Crypto Mining Pool Hack
A subsidiary of Bit Mining, a coin minting company, was the victim in a hacking attack. The company released a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis.
According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen.
The cyberattack has been reported to law enforcement in Shenzhen, China on Dec. 23. With the support of other agencies Bit Mining highlighted that the Chinese authorities are investigating the incident and collecting evidence.
The company will devote considerable efforts to recover the stolen digital assets.
The mining company stated that certain crypto assets of Btc.com were already secured. It pointed out that it had implemented technology to better intercept and block hackers after discovering the breach.
Btc.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected.
Besides the top-10 mining pool, which provides mining services for bitcoin (BTC), ether (ETH), and litecoin (LTC), Bit Mining Limited also owns the mining device manufacturer Bee Computing and operates coin minting facilities.
Since the Chinese government cracked down on the industry in the spring of 2021, Bit Mining has sought to expand its activities in Kazakhstan, which has become a major crypto mining hotspot. In August of this year, the company announced it had secured a $9.3 million registered direct offering from institutional investors.
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What are your thoughts on the hacking attack against the bitcoin mining pool Btc.com? Please leave your thoughts in the comments below.
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Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.
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