Connect with us


Crypto Price Analysis & Overview August 13th: Bitcoin, Ethereum, Ripple, Cardano, & Binance Coin.


Bitcoin saw a strong 13.9% price hike this week as the cryptocurrency continues the bullish run that started in late July when it penetrated above the descending wedge consolidation pattern.

Last Friday, BTC was trading beneath $42,000 but eventually surged higher above the resistance by the end of the day. By the weekend, BTC managed to hit the 200-day MA level at around $44,750.

It continued to surge higher on Monday to hit $46,500. However, BTC stalled there and started to head lower over the past few days until support was found at $44,000. It has since rebounded from there and is now back above $46,300.

Looking ahead, the first level of resistance lies at $46,500. This is followed by $47,800 (bearish . 618 Fib Retracement), $39,400 (1. 272 Fib Extension), and $50,000. Beyond $50K, added resistance lies at $50,740 (1. 414 Fib Extension), $52,000, and $53,000 (bearish . 786 Fib Retracement).

On the other side, the first support lies around $45,000 (200-day MA). This is followed by $44,000, $43,100 (. 382 Fib), $42,000 (Jan 2021 high & 20-day MA), and $40,500.

BTC/USD Daily Chart. TradingView.


Ethereum also performed well this week as it surged by a strong 14.7% to hit the current $3230 level. The cryptocurrency surged above an ascending price channel last Friday to hit resistance at around $3170.

Throughout the week, ETH did spike higher above $3170 but was never able to close a daily candle above the resistance. Yesterday, it dropped lower into the support at $3000, closing the daily candle at $3036 (previous resistance). It has since rebounded from there today and is trading above $3200. A daily closing candle above $3200 today would signal that ETH is gearing up for another bullish swing into the following week.

Looking ahead, the first resistance lies at $3350 (bearish . 618 Fib). This is followed by $3540 (1. 618 Fib Extension), $3600, $3790 (bearish . 786 Fib), and $4000.

On the other side, the first support lies around $3150. This is followed by $3036, $3000, $2890, and $2725 (20-day MA & previous resistance).

ETH/USD Daily Chart. TradingView.

ETH witnessed a relatively low price movement against BTC this week. It rose above 0.5% in the past two weeks. 07 BTC over the weekend. However, ETH dropped quickly below 0. 07 BTC and has not been able to climb back above it so far.

On Monday, ETH found support at 0. 067 BTC (. 382 Fib) and has made numerous attempts to break 0. 07 BTC but has failed on each occasion as it sits just below today.

Look ahead, if buyers break 0. 07 BTC, the first strong resistance lies at 0. 072 BTC (beraish . 618 Fib). Then, follow by 0. 074 BTC, 0. 077 BTC (1. 414 Fib Extension), and 0. 08 BTC.

On the other side, the first support lies at 0.068 BTC. The next support is 0. 067 BTC (. 382 Fib), 0. 066 BTC (100-day MA), 0. 0651 BTC ).5 Fib & 20-day MA), and 0. 0632 BTC (50-day MA & . 618 Fib).

ETH/BTC Daily Chart. TradingView.


XRP saw an incredible 41% price hike over the past week as the coin finally breaks back above $1. It traded at $0. 71 last Friday as it started to surge higher above the 200-day MA into the 2020 high at $0.8282.

The 2020 high was finally penetrated on Tuesday as XRP hit the 100-day MA. On Wednesday, XRP exploded higher as it broke $1 and reached as high as $1.10. It dropped lower yesterday but found support at $0.93. Today, XRP climbed back above $1 as it trades at $1.03.

Looking ahead, the first resistance lies between $1.10-$1. 12 (bearish .5 Fib). Then, $1. 21 (1. 272 Fib Extension), $1. 25 (Fen 2018 highs), and $1. 27 (bearish . 618 Fib). Additional resistance is found at $1. 36 (1. 618 Fib Extension) and $1. 50 (bearish . 786 Fib).

The other support is at $1. The next support is $0. 932 (. 382 Fib), $0. 88 (.5 Fib), $0. 8282 (2020 high), and $0. 78 (20-day MA).

XRP/USD Daily Chart. TradingView.

XRP was trading at around It was trading at around 1800 SAT and was struggling to break the 50-day MA until Tuesday when XRP poked above the descending trend line.

On Wednesday, XRP exploded higher to break 2000 SAT and hit the 100-day MA at around 2200 SAT. It is currently still trading around this level after finding support at 2160 SAT (. 236 Fib) yesterday.

Looking ahead, the first resistance lies at 2300 SAT. This is followed by 2425 SAT (bearish . 382 Fib), 2515 SAT (1. 272 Fib Extension), 2670 SAT (bearish .5 Fib), and 2800 SAT.

On the other side, the first support lies at 2160 SAT (. 236 Fib). This is followed by 2050 SAT (. 382 Fib), 2000 SAT, 1965 SAT (.5 Fib), and 1900 SAT (July 2020 low & 50-day MA).

XRP/BTC Daily Chart. TradingView.


ADA also saw an impressive 47.9% price explosion this week as it breaks back above $2. ADA traded within an ascending price channel at the beginning of the week. The breakout above the channel came on Tuesday when pushed above the 100-day MA and broke the upper border at $1.50.

It climbed higher on Wednesday and Thursday, to hit resistance at $1. 90, provided by a bearish . 618 Fib Retracement level. Today, ADA surged another 17% to break the resistance at $1. 90, pass $2. 00, and reach as high as $2.10.

Looking ahead, if buyers break $2. 10, the first resistance lies at $2. 17 (bearish . 786 Fib). Then, $2 is added. 33 (bearish . 886 Fib), $2. 40, and $2. 50 (1. 414 Fib Extension).

Also, $2 is the first support. The next support is $1. 90, $1. 83 (. 236 Fib), $1. 68 (. 382 Fib), $1. 60, and $1. 50 (100-day MA).

ADA/USD Daily Chart. TradingView.

ADA also performs well against BTC. It found support around 3200 SAT on Tuesday and rebounded to meet the 50-day MA. On Wednesday, ADA continued above the 50-day MA to reach resistance at a long-term descending trend line.

This trend line was penetrated yesterday, and ADA continued higher today to reach 4430 SAT (1. 618 Fib Extension).

Moving forward, the first resistance above 4430 SAT lies at 4570 SAT (1. 414 Fib Extension). This is followed by 4900 SAT (1. 618 Fib Extension), 5000 SAT (May highs), and 5320 SAT (1. 618 Fib Extension – orange).

On the other side, the first support lies at 4200 SAT (July highs). This is followed by 4000 SAT, 3850 SAT (100-day MA), 3750 SAT (50-day MA), and 3600 SAT.

ADA/BTC Daily Chart. TradingView.

Binance coin

BNB saw a respectable 18.8% price hike this week as the coin breaches $400 again. The coin was trading around $340 last Friday as it started to push higher. By Tuesday, BNB managed to meet the 100-day MA and break it on Wednesday to reach $410.

It did drop lower yesterday to meet support at $372 (. 236 Fib) but rebounded again today to break back above $400.

Looking ahead, the first resistance lies at $433, provided by the June highs. This is followed by $442 (bearish .5 Fib), $472 (1. 414 Fib Extension), and $500 (bearish . 618 Fib).

On the other side, the first support lies at $373 (. 236 Fib). This is followed by $350 (. 382 Fib), $332 (.5 Fib & 200-day MA), and $315 (. 618 Fib & 50-day MA).

BNB/USD Daily Chart. TradingView.

BNB also saw a rebound higher than BTC, setting a new August high. At 0., the coin formed a double bottom. 00765 BTC on Tuesday and started to rebound from there. By Wednesday, BNB penetrated the 20-day MA to reach the 50-day MA at around 0. 00877 BTC.

BNB has since struggled to produce a closing candle above the 50-day MA.

Looking ahead, the first resistance lies in 0. 00877 BTC (50-day MA & bearish .5 Fib). Then, follow by 0. 009 BTC (bearish . 618 Fib & falling trend line), 0. 0094 BTC (100-day MA), 0. 0096 BTC, and 0. 01 BTC.

On the other hand, the first support is at 0. 0085 BTC. Then, follow 0. 00836 BTC (20-day MA), 0.008 BTC, and 0. 00765 BTC (Double-bottom).

BNB/BTC Daily Chart. TradingView.

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. This information does not reflect the views of CryptoPotato about whether or not to invest. Before making any investment decision, you are strongly advised to do your own research. You are responsible for any use of the information. For more information, please refer to Disclaimer.

Cryptocurrency charts by TradingView.

Read More


Gensler Criticizes Crypto Exchanges for Questionable Practices, Says Spot ETH ETFs Will ‘Take Some Time’

SEC Chair Gensler has voiced concern over unethical conduct within crypto exchanges, noting that the introduction of spot Ethereum ETFs will require additional time.

Gensler’s comments were made during a June 5 interview on CNBC, where he also responded to Jim Cramer’s inquiries about potential exchange-traded products for cryptocurrencies beyond Bitcoin and Ethereum.

Gensler Criticizes Crypto Exchanges

Gensler stated that while the SEC had approved the associated 19-4b filings for spot Ethereum ETFs last month, the launch of these products would “take some time.”

He explained that the ETF applications are undergoing the normal procedural reviews, which inherently take time, but refrained from providing a specific timeline for their market debut.

However, Gensler soon turned his attention to the broader cryptocurrency market with a more critical perspective. He slammed the widespread unethical practices within crypto exchanges, stressing that the market is still plagued by fraud and manipulation.

“Crypto exchanges are engaging in practices that would never be allowed on the NYSE. Our laws don’t permit exchanges to trade against their customers, yet this is happening in the crypto space,” Gensler stated, drawing a line between crypto exchanges and traditional ones like the New York Stock Exchange.

Referencing recent high-profile failures like FTX and Celsius Network, Gensler stated that such illegal activities remain a big problem in the crypto market. He reaffirmed the SEC’s dedication to upholding market integrity through ongoing enforcement measures and highlighted the agency’s role as a civil law enforcement agency.

Gensler Highlights Regulatory Gaps in Crypto Market

While acknowledging some positive steps in regulation, Gensler voiced serious concerns about the inadequate disclosure and regulation in the cryptocurrency industry.

“These tokens, whether they’re well-known or obscure, have not provided the necessary disclosures required by law,” he noted, emphasizing that most cryptocurrencies do not meet the essential disclosure standards expected of regulated assets. This lack of transparency, Gensler argued, deprives investors of the crucial information needed to make informed decisions.

During the interview, Cramer also questioned Gensler about the possibility of ETFs for various lesser-known cryptocurrencies, including meme coins like SushiSwap (SUSHI) and Bonk (BONK), as well as other tokens such as Cardano, Cosmos, and MyNeighborAlice. Cramer pointed out that these tokens had traded millions of dollars in recent activity, asking whether they too should have their own ETFs.

While Gensler did not provide specific answers, he emphasized his stance on the inadequate disclosures of many crypto tokens, implying that these tokens are often unregistered securities.


Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Read More

Continue Reading


SEC Chair Gensler: Spot Ether ETFs ‘Will Take Some Time’ to Begin Trading

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that spot ethereum exchange-traded funds (ETFs) “will take some time” to commence trading, highlighting the necessity for a thorough disclosure process. Additionally, Gensler emphasized the lack of proper disclosure provided by crypto exchanges to investors…
Read More

Continue Reading


Nibiru EVM to Transform Ethereum Capabilities for Tomorrow’s Web3

[PRESS RELEASE – Tortola, British Virgin Islands, June 5th, 2024]

Nibiru EVM execution boasts blazing-fast transaction speeds, scalability, and seamless integration for Ethereum developers, positioning Nibiru to drive mainstream adoption and innovation in Web3.

Overcoming Ethereum’s Scalability Hurdles

Nibiru Chain, a pioneering smart contract ecosystem, introduces Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, showcased in its latest v2 release.

Nibiru plans to scale beyond Ethereum’s current infrastructure, which is limited to approximately 20 transactions per second (TPS) and results in high fees during periods of congestion. These constraints hinder developers from building performance-intensive applications similar to the ones seen in Web2. Nibiru EVM surpasses these limitations by offering throughput exceeding 10,000 TPS even with just single-threaded execution.

To take the scaling and performance a step further, Nibiru plans to upgrade the network to process transactions with parallel optimistic execution, which is “targeted for release before the end of 2024,” according to Co-Founder of Nibiru, Unique Divine. This approach allows nodes to utilize extra hardware resources, pushing the boundaries on the network’s transaction handling capabilities.

Fueling Ecosystem Expansion and Enhanced Developer Experience

“Compatibility with Ethereum is a key driver for attracting liquidity and promoting ecosystem growth on Nibiru EVM. Launching a blockchain protocol is about building trust and showcasing real-world utility. Innovating and improving the EVM is a key part of our strategy,” explains Unique.

With Ethereum developers accounting for applications that make up over 90% of the total value locked (TVL) across smart contract ecosystems, Nibiru EVM significantly lowers barriers to entry and accelerates development timelines.

Nibiru EVM empowers developers with a robust, user-friendly environment that enables seamless interaction between Ethereum-based tokens and applications across multiple virtual machines. This multi-VM approach ensures fast transaction processing and a streamlined user experience.

Ethereum developers are able to deploy applications in a familiar EVM environment, reducing barriers to entry and accelerating development timelines, whilst also reaping the benefits of parallel optimistic execution and instant finality.

Nibiru in Early Innings

Since its mainnet launch in March 2024, Nibiru has supported Wasm (Web Assembly) smart contracts written in the Rust programming language. The introduction of Nibiru EVM promises developers an EVM-compatible execution environment that is both highly performant and scalable. Positioned to play a crucial role in the future of decentralized applications, Nibiru is driving innovation and setting the stage for mainstream adoption.

About Nibiru

Users can stay up-to-date on the latest news or engage with Nibiru by visiting the Community Hub. Users can find the official web application and information on user guides, block explorers, and upcoming governance and improvement proposals.

Nibiru aims to be the most developer-friendly and user-friendly smart contract ecosystem, leading the charge toward mainstream Web3 adoption by innovating at each layer of the stack: dApp development, infra, consensus, a comprehensive dev toolkit, and value accrual.


Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Read More

Continue Reading


Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.