Connect with us

Ethereum

Crypto Price Analysis & Overview September 10, 2018: Ethereum, Ripple Cardano and Solana

Ethereum

Ethereum dropped a sharp 10% this week as the cryptocurrency currently sits at around $3400. The cryptocurrency surged to $3975 last Friday, where it met the resistance at a 1. 272 Fib Extension level.

It was unable to overcome the sell-off over the weekend, and finally collapsed on Tuesday after the market wipeout. ETH dropped as low as $3000 during the sell-off but eventually recovered by the end of the day to close the daily candle at $3428 (. 382 Fib).

It held this support over the past two days but recently slipped beneath it today, reaching as low as $3350.

Looking ahead, the first support lies at $3350. This is followed by added support at $3240 (.5 Fib), $3100 (50-day MA), $3000, and $2890.

On the other side, the first resistance lies at $3500 (20-day MA). This is followed by $3790 (bearish . 786 Fib), $3975 (1. 272 Fib Extension), $4000, and $4135.

ethusd-sep10-min
ETH/USD Daily Chart. TradingView.

ETH was higher than BTC. 0785 BTC over the weekend. ETH fell below 0. 078 BTC to hit 0. 076 BTC. ETH fell below 0. 07 BTC during the Tuesday market capitulation but would close the daily candle at 0. 0733 BTC (. 382 Fib).

It did rebound from there on Wednesday, but met resistance at 0. 0765 BTC (bearish . 786 Fib). Since then, it has fallen to 0. 0765 BTC and is now back at the 0. 0733 BTC support.

Looking ahead, if bears fall below 0. 0733 BTC, the first support lies at 0. 072 BTC. Then, follow by 0. 07 BTC (. 618 Fib), 0. 0691 BTC, and 0. 0678 BTC (. 786 Fib & 50-day MA).

ethbtc-sep10-min
ETH/BTC Daily Chart. TradingView.

Ripple

XRP fell by a solid 13% over the past week to $1.10. The cryptocurrency was trading inside an ascending price channel over the weekend and pushed higher on Monday to break the August highs and hit $1.40.

XRP collapsed on Tuesday’s market wipeout as it fell as low as $0.94. By the end of the day, XRP had recovered to close the daily candle at around $1.12. Since then, XRP has been steadily falling as it reaches $1 support. 05 today (.5 Fib).

Looking ahead, the first support is at $1. 05 (.5 Fib). The $1. 00 (50-day MA), $0. 957 (. 618 Fib Retracement), and $0.9 (200-day MA).

On the other side, the first resistance lies at $1.15. The next step is $1. 20 (20-day MA), $1. 25 (Feb 2018 highs), $1. 36 (1. 618 Fib Extension), and $1.40.

xrpusd-sep10-min
XRP/USD Daily Chart. TradingView.

XRP also suffered against BTC this week as it currently trades around 2360 SAT. It managed to break 2600 SAT on Monday and reached as high as 2728 SAT (August high-day closing price). On Tuesday, the cryptocurrency collapsed and fell beneath 2600 SAT to spike as low as 2200 SAT (50-day MA). The bulls had rebounded to close the daily candle at 2400 SAT by the end of the day.

Over the following few days, XRP slowly went lower to hit the support at 2290 SAT (. 382 Fib) today.

Looking ahead, the first support lies at 2290 SAT (. 382 FIb). This is followed by 2290 SAT (. 382 Fib), 2200 SAT (50-day MA), 2150 SAT (.5 Fib & 100-day MA), and 2000 SAT (. 618 Fib & 200-day MA).

On the other side, the first resistance lies at 2450 SAT (20-day MA). This is followed by 2670 SAT (bearish .5 Fib), 2730 SAT (1. 618 Fib Extension), 2915 SAT (bearish . 618 Fib), and 3000 SAT.

xrpbtc-sep10-min
XRP/BTC Daily Chart. TradingView.

Cardano

ADA fell by a sharp 16% over the past week as it currently trades around $2.50. It was trading at $3 resistance. 00 (1. 272 Fib Extension) over the weekend but was unable to break it. On Tuesday, it slipped beneath the 20-day MA and spiked as low as $2. 00 (50-day MA).

By the end of the day, ADA was back at $2. 50 support (. 382 Fib). This support has continued throughout the week.

Looking ahead, if bears push below $2. 50, the first support lies at $2. 25 (.5 Fib). The support fee is $2. 05 (50-day MA & . 618 Fib), $1. 80 (100-day MA), and $1.60.

On the other side, the first resistance lies at $2.60. The next is $2. 75 (20-day MA), $3. 00, and $3. 20 (1. 414 Fib Extension).

adausd-sep10-min
ADA/USD Daily Chart. TradingView.

ADA also fell against BTC this week after it slipped from 6000 SAT to reach the current 5340 SAT support (. 236 Fib). It was already decreasing against BTC throughout the weekend to hit the support at 5340 SAT. On Tuesday, it spiked lower to reach the 4590 SAT support (.5 Fib).

The bulls recovered by the end of the day to close the candle above 5340 SAT (. 236 Fib).

Looking ahead, if the bears break 5340 SAT, the first support lies at 5000 SAT. This is followed by 4925 SAT (. 382 Fib), 4590 SAT (.5 Fib & 50-day MA), 4250 SAT (. 618 Fib & 100-day MA).

On the other side, the first resistance lies at 5500 SAT. This is followed by 5670 SAT (20-day MA), 6000 SAT, and 6200 SAT (1. 414 Fib Extension).

adabtc-sep10-min
ADA/BTC Daily Chart. TradingView.

Solana

SOL saw a strong 43% price hike this week as the coin set a new ATH price at $216. The coin started to surge from $140 on Monday to break above $160. On Tuesday, SOL did spike as low as $130 but quickly recovered and ended up closing the daily candle at $170.

SOL continued to rise over the following few days to hit resistance at $200 (1. 618 Fib Extension). Yesterday, SOL managed to spike above $200 to set the new $216 ATH price. Unfortunately, it was unable to close the daily candle above $200 and has since rolled over to $180.

Looking ahead, the first support lies at $170 (. 236 Fib). This is followed by $142 (. 382 Fib), $120 (.5 Fib), and $100.

On the other side, the first resistance lies at $200 (1. 618 Fib Extension). This is followed by $220, $230 (1. 618 Fib Extension – purple), $256 (1. 272 Fib Extension – blue), and 277 (1. 414 Fib Extension – blue).

solusd-sep10-min
SOL/USD Daily Chart. TradingView.

SOL is also performing very well against BTC as it sets a new ATH at 46,980 SAT this week. Since mid-August, the coin has been rising within an ascending price channel. It recently encountered resistance at the upper angle.

On Monday, SOL surged higher from 26,850 SAT as it started to soar. The cryptocurrency was already testing the upper angle for the price channel by Wednesday. Yesterday, it spiked above the channel to establish the new ATH, but couldn’t close above it.

Looking ahead, the first support lies at 37,380 SAT (. 236 Fib). This is followed by 35,000 SAT (lower angle of price channel), 31,560 (. 382 FIb), and 30,000.

On the other side, the first resistance lies at 43,000 SAT (1. 618 Fib Extension & upper angle of the channel). This is followed by 45,000 SAT, 46,980 SAT (1. 618 Fib Extension – purple), and 50,000 SAT.

solbtc-sep10-min
SOL/BTC Daily Chart. TradingView.

MATIC

MATIC has fallen by a mere 5% in the last week of trading. Over the weekend, the coin surged to break the August high and reach resistance at $1. 75 (bearish . 618 Fib). This resistance was too much for the Fib and it rolled over on Sunday.

During the Tuesday market collapse, MATIC slipped as low as $1.10. It recovered by the end of the day to close the daily candle at the 50-day MA. It is currently sitting above an ascending trendline and is using that as support.

Looking ahead, if bears push below the trend line, then the first support is at $1. 30 (. 382 Fib). Then, $1. 23 (100-day MA), $1. 17 (.5 Fib), $1. 05 (. 618 Fib), and $1 (200-day MA).

On the other hand, the first resistance lies at $1. 40 (20-day MA). The $1 is the next step. 60, $1. 75 (bearish . 618 Fib), $2. 00, and $2. 05 (bearish . 786 Fib).

maticusd-sep10-min
MATIC/USD Daily Chart. TradingView.

MATIC is also above an ascending trend line against BTC as it uses support at 2865 SAT (.5 Fib) as support. The coin surged from beneath 3000 SAT on Saturday to reach resistance at 3630 SAT (bearish . 382 Fib) on Sunday.

It rolled over from that point and began to head lower through the week. On Tuesday, MATIC spiked as low as 2500 SAT but managed to recover by the end of the day to close the candle at 2865 SAT (.5 Fib & 100-day MA).

It is now using the ascending-price channel as support.

Looking ahead, the first resistance lies at 3000 SAT (50-day MA). This is followed by 3200 SAT, 3500 SAT, 3630 SAT (bearish . 382 Fib), 3865 SAT (1. 272 Fib Extension), and 4000 SAT.

On the other side, the first support lies at 2865 SAT (.5 Fib). This is followed by 2685 SAT (. 618 Fib), 2500 SAT, 2400 SAT (200-day MA), and 2300 SAT.

maticbtc-sep10-min
MATIC/BTC Daily Chart. TradingView.
SPECIAL OFFER (Sponsored)

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

Ethereum

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.

SPECIAL OFFER (Sponsored)

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

Ethereum

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

Ethereum

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.

SPECIAL OFFER (Sponsored)

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

Trending

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