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Ethereum

Crypto Price Analysis & Overview September 24th: Ethereum, Ripple, Cardano, Solana, and Avalanche

Ethereum

Ethereum is down a sharp 21% this week as the coin sits beneath $3000. The sell-off started on Monday when ETH slipped beneath the neckline of a head & shoulders pattern and the 50-day MA. Initially, the market found support at $3000 but would continue to fall beneath it on Tuesday to find support at $2770 (. 786 Fib Retracement).

ETH did rebound on Wednesday and Thursday as it climbed back above $3000. However, it lost another sharp 9% today, causing it to break back beneath $3000 and reach the support at the 100-day MA at around $2730.

Looking ahead, if the sellers push lower, the first support lies between $2770 (. 786 Fib) and $2730 (100-day MA). This is followed by $2600 (200-day MA), $2500, $2420 (downside 1. 618 Fib Extension), and $2200 (. 786 Fib).

On the other side, the first resistance lies at $2890. This is followed by $3000, $3200, $3350 (50-day MA & 20-day MA), and $3500.

ethusd-sep24-min
ETH/USD Daily Chart. TradingView.

ETH is also struggling against BTC this week as it dropped as low as 0. 0667 BTC (downside 1. 272 Fib Extension) today. The cryptocurrency fell beneath the 50-day MA and 0. 07 BTC on Monday as it continued to slide until support was met at 0. 068 BTC. The rising trend line supported ETH’s rebound on Wednesday, allowing it to rise.

Unfortunately, ETH was unable to overcome the resistance at the 50-day MA and fell from there today to reach as low as 0. 0667 BTC. Since then, it has bounced back and is now trading above the rising trendline.

Looking ahead, if sellers break the trendline and fall below 0. 068 BTC, the first solid support lies at 0. 0667 BTC. Then, follow by 0. 066 BTC (. 618 Fib & 100-day MA), 0. 065 BTC, 0.064 BTC, and 0. 0632 BTC (downside 1. 618 Fib Extension).

On the other hand, the first resistance lies at 0. 0691 BTC. Then, follow by 0. 07 BTC (50-day MA), 0. 0711 BTC, and 0. 072 BTC.

ethbtc-sep24-min
ETH/BTC Daily Chart. Source: TradingView.

Ripple

XRP dropped by a steep 17% this week as it falls back beneath $1. XRP dropped below the 50-day MA on Sunday and continued on Monday as it lost the 200-day MA until it found support at $0. 875 (. 618 Fib & 100-day MA).

XRP was $0. 875 on Tuesday and rebounded from there on Wednesday to return to $1. Unfortunately, the buyers could not break this level and fell from there today to return to the 100-day MA support.

Looking ahead, if the bears push beneath the 100-day MA, the first support lies at $0. 8282 (2020 highs). Then comes $0.8 (downside 1. 272 Fib Extension), $0. 732 (downside 1. 414 Fib Extension), $0.7, and $0.65.

On the other hand, $0. is the first resistance. 95 (200-day MA). The $1 is followed by $1. 05, and $1. 10 (50-day MA).

xrpusd-sep24-min
XRP/USD Daily Chart. TradingView.

XRP is also in a bearish battle against BTC as it sits above 2200 SAT. On Monday, XRP fell beneath 2225 SAT (.5 Fib) and spiked as low as 2050 SAT (. 618 Fib). The coin found support at a rising trendline and recovered from there on Wednesday.

It managed to reach as high as 2300 SAT and reversed from there yesterday. Today, XRP fell beneath 2200 SAT but found support at the rising trend line. This is a promising sign.

Looking ahead, if the bears push beneath the rising trend line, the first support lies at 2100 SAT (200-day MA & 100-day MA). This is followed by 2075 SAT (. 618 Fib), 2000 SAT, 1900 SAT (July 2020 low), and 1735 SAT (. 886 Fib).

On the other side, resistance is first expected at 2300 SAT. This is followed by 2350 SAT (50-day MA), 2400 SAT, and 2500 SAT.

xrpbtc-sep24-min
XRP/BTC Daily Chart. Source: TradingView.

Cardano

ADA fell by a small 11% this week as the coin currently sits at $2.18. It also dropped beneath the 50-day MA on Monday and continued to slip until support was found at $1. 88 (downside 1. 414 Fib Extension) on Tuesday.

More specifically, ADA found support for $2. 00 (. 618 Fib Retracement) and rebounded from there on Wednesday.

Yesterday, ADA briefly crossed a falling trend line to reach the resistance at the 50-day MA. It continued to rise as high as $2. 50 earlier today but has since dropped back beneath $2.20.

Looking ahead, the first strong support lies in at $2. 00 (. 618 Fib). Then, $1. 88 (downside 1. 414 Fib Extension), $1. 80 (100-day MA), and $1. 66 (. 786 Fib).

On the other hand, the first resistance lies at $2. 40 (bearish . 382 Fib & 50-day MA). Then, $2 is added. 53 (bearish .5 Fib), $2. 68 (.bearish . 618 Fib), and $2.80.

adausd-sep24-min
ADA/USD Daily Chart. TradingView.

ADA is attempting to recover against BTC as it sits above 5200 SAT. The coin found solid support at 4800 SAT on Monday and managed to hold it during the entire week.

On Wednesday, ADA finally surged back above the 50-day MA and continued higher above 5000 SAT. It broke the 20-day MA at 5200 SAT today and reached above 5500 SAT.

Looking ahead, the first support lies at 5000 SAT (50-day MA). This is followed by 4800 SAT, 4715 SAT (.5 Fib), 4600 SAT, and 4400 SAT (100-day MA).

On the other side, the first resistance lies at 5600 SAT. This is followed by 5800 SAT, 6000 SAT, and 6200 SAT.

adabtc-sep24-min
ADA/BTC Daily Chart. TradingView.

Solana

SOL is down a steep 13% this week as the coin currently trades around $135. Since the beginning of September, the cryptocurrency has been trading in a downward price channel. It must break this trend to end its current negative trend.

SOL dropped beneath $140 on Monday and continued lower until support was found at $123 (downside 1. 272 Fib Extension) on Tuesday. After meeting resistance at the upper angle, the price channel’s support level on Tuesday, it rebounded and rolled over today.

Looking ahead, the first support lies at $123 (downside 1. 272 Fib Extension). This is followed by $119 (.5 Fib Retracement), $112 (downside 1. 414 Fib Extension), $110 (50-day MA), and $100.

On the other side, the first resistance lies at $150 (upper angle of the price channel). This is followed by $160 (20-day MA), $180, and $200.

solusd-sep2-min
SOL/USD Daily Chart. TradingView.

SOL is currently in a phase of consolidation against BTC as it trades sideways between 0. 0035 BTC and 0. 003 BTC. Support was found at 0. 003 BTC on Tuesday and bounced higher on Wednesday to meet the resistance at the 20-day MA, beneath 0. 0035 BTC.

It ended up rolling over yesterday to find support at 0. 00315 BTC (. 382 Fib) today.

Looking ahead, the first solid support is at 0. 003 BTC. Then, follow by 0. 00288 BTC (downside 1. 414 Fib Extension), 0. 00267 BTC (.5 Fib Retracement), 0. 0025 BTC, and 0. 00233 BTC (50-day MA).

On the other hand, the first resistance lies at 0. 0035 BTC (20-day MA). Then, follow by 0. 00367 BTC (1. 272 Fib Extension), 0. 004 BTC (1. 414 Fib Extension), and 0. 0043 BTC (1. 618 Fib Extension).

solbtc-feb24-min
SOL/BTC Daily Chart. TradingView.

Avalanche

AVAX is up by a small 3% this week as the coin sits around $70. The cryptocurrency actually managed to set a new ATH price at $80 this week after finding support at the 20-day MA (around $55) on Monday.

It held the $55 support on Tuesday and exploded on Wednesday to hit $75. The new ATH was set on Thursday, but AVAX has since rolled over to fall to $70 today.

Looking ahead, the first support lies at $68. 55 (. 236 Fib). This is followed by $65, $61. 67 (. 372 Fib), $60 (20-day MA), and $56. 10 (.5 Fib).

On the other side, the first resistance lies at $75. This is followed by $80, $85. 45 (1. 618 Fib Extension), $90 (1. 618 Fib Extension – orange), $92. 30 (1. 414 Fib Extension – blue), and $100.

avaxusd-sep24-min
AVAX/USD Daily Chart. TradingView.

AVAX is also performing well against BTC after setting a new ATH on Thursday at 0. 0018 BTC. Support fell below 0. 0014 BTC on Monday but managed to hold support at 0. 0013 BTC on Tuesday.

It rebounded and broke the previous 0. 0016 BTC ATH on Wednesday. Yesterday’s spike saw it reach 0. 0018 BTC but has since dropped back to 0. 0017 BTC.

The first resistance is at 0. 0018 BTC. Then follow 0. 00185 BTC (1. 272 Fib Extension), 0. 0019 BTC, 0. 00197 BTC (1. 414 Fib Exnteison), 0. 002 BTC, and 0. 0021 BTC.

On the other hand, the first support is at 0. 0016 BTC. Then, follow by 0. 00155 BTC (. 236 Fib), 0. 00138 BTC (. 382 Fib), 0. 0013 BTC (20-day MA), and 0. 00125 BTC (.5 Fib).

avaxbtc-sep24-min
AVAX/BTC Daily Chart. TradingView.
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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.

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Ethereum

Gamestop Launches Web3 Ethereum wallet That Leverages Loopring’s ZK-Rollup Tech

Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech

This week, the consumer electronics and gaming software retailer, Gamestop, has officially revealed the company’s self-custodial, Web3 ethereum wallet. It is currently available in beta and can be accessed via the firm’s web portal. The wallet stores crypto assets as well as non-fungible tokens. Furthermore, the wallet utilizes Loopring’s layer two (L2) ZK-rollup technology to provide users with “fast [and] fairly priced transactions.”

Gamestop Wants to Bring Power to Players via the Company’s Self-Custodial Ethereum Wallet

For quite some time now, it’s been well known that Gamestop was getting into the NFT space and that the gaming software retailer planned on releasing an NFT marketplace. At the end of March 2022, Gamestop explained it had partnered with the Ethereum L2 scaling project Loopring, and noted the company would leverage Loopring’s ZK-rollups.

Now Gamestop has unveiled its non-custodial, Web3 ethereum wallet that uses the ZK-rollup tech for cheaper transactions. It will let gamers store their in-game NFTs but also hold Ethereum-based crypto assets. Gamestop will launch its NFT marketplace in July. It aims to give power to the .”

players.

Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech

“Gamestop wallet is a secure and easy way to start with Web3. Your GameStop Wallet can be used to purchase, hold, swap or display Ethereum-based assets,” according to the wallet’s description. Gamestop Wallet can be used to buy, hold, swap, display and use Ethereum-based assets.” The wallet’s description also states that it is a self-custodial ethereum vault.

Harnessing the power of Loopring’s ZK-rollup [tech] — an Ethereum Layer 2 scaling protocol – Gamestop gives you low-cost and fast transactions, with Ethereum security, opportunity, and global reach. This allows you to lower gas fees and network congestion while still maintaining control over your funds.

Gamestop’s digital wallet is very similar to Metamask. It also offers a desktop version. The wallet technology was developed by Loopring, but the NFT marketplace will be using Immutable X technology. Gamestop partnered with Immutable X on February 3, 2021, and launched a $100 million NFT fund.

Additionally, the wallet’s privacy policy explains that the software does monitor the user’s data. According to the website, data collected includes “contact information and profile information”, display names, email addresses, profile biography, Ethereum public adres details and Twitter and Reddit usernames.” A iOS version of Gamestop’s wallet will be available soon.

What do you think about Gamestop’s ethereum wallet? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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 in connection to the content, goods, or services discussed in this article.

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Ethereum

Bitcoin, Technical Analysis: BTC Recovers Above $30,000 As Weeklong Consolidation Continues

Sam Bankman-fried

This week’s whirlwind price swings in crypto markets continued on Friday, with BTC moving higher, following yesterday’s declines. Bitcoin has risen back above $30,000 on Friday, with ETH also climbing above its $2,000 point.

Bitcoin

Bitcoin was trading higher on Friday, as price uncertainty in crypto markets continued to grip traders, leading mainly to consolidation.

Following a decline to a low of $29,389. 44 during Thursday’s session, BTC/USD rose by over 3% on Friday, hitting a high of 30,664. 98 in the process.

The move comes as a floor in prices may have finally been found, as bulls lifted BTC from the $28,800 point, which many now consider to be the current support.

BTC/USD – Daily Chart

Friday’s surge took place as bullish pressure also led to a breakout of the 36 level on the 14-day RSI, which we marked as a key obstacle in the way of price gains.

As of writing, relative strength is now tracking at 37. 93, which is close to another ceiling at 40, which has dampened bullish hopes in the past.

Earlier gains have also eased, since prices passed the $30,500 resistance point, which some bulls are using as an ideal exit point.

Ethereum

Ethereum was once again trading above $2,000, following a breakout below this point over the course of Thursday’s session.

ETH/USD has so far risen to a peak of $2,054. 80 on Friday, which is roughly 4.5% higher than its peak the day before.

Similar to BTC, today’s move in ethereum comes after bulls used the current floor of $1,950 as a springboard to today’s heights.

ETH/USD – Daily Chart

However, since reaching these highs, price strength has slowed, with ETH now trading $20 lower than its earlier peak.

Although the RSI has also passed its own ceiling at 35, now tracking above the 36 level, prices are approaching a hard resistance at $2,060.

This point may have caused earlier bulls to vacate their positions, with those remaining likely to hold firm as we head into the week, unless bearish pressure resurfaces.

How high do you expect ETH to trade this weekend? Comment below to share your thoughts.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, retail trading educator, and market commentator for Crypto, Stocks, and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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 caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

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Ethereum

New Milestones Revealed for Ethereum as Ropsten Private Testnet Merge Date

An Ethereum DevOps Engineer submitted a pull request for the Ropsten Merge configuration code earlier this week. It can be viewed in the GitHub repository. The Ropsten testnet, which was established by Ethereum Foundation almost five years ago, is one of the most reliable replicas of the Ethereum blockchain.

The Merge

The merge, which marks the end of the PoW-style architecture, will essentially combine the two layers in a single PoS-based chain. According to Prysmatic Labs’ Terence Tsao, the genesis for the Ropsten testnet Merge is slated for May 30.

Lead developer Tim Beiko earlier confirmed that the merge on the mainnet is likely to go live a few months after June and not anytime sooner.

But, the Ropsten merger will show the actual merging between Ethereum and Beacon Chain when the network completes its transition. Ethereum core developer Preston Van Loon also acknowledged that this event is a huge testing milestone towards ETH’s mainnet merge that is set to happen later this year.

The Merge is coming https://t.co/CL8zwgJDra

— sassal.eth (@sassal0x) May 18, 2022

However, as the merge is near, developers have been testing new infrastructures in order to study the network mechanics and client readiness.

For instance, the “Shadow fork” went live in April, a mechanism to “stress test our assumptions around syncing and state growth,” as Parithosh Jayanthi, an Ethereum Foundation developer, explained. This test allows developers to identify critical flaws in code that might otherwise go unnoticed by the devnets.

Ethereum Foundation Lifts the Ante

In light of the recent development and the upcoming merge, Ethereum Foundation also announced merging its PoW mainnet and PoS consensus layer bug bounty programs into one. The max reward has also been bumped up to $250,000 for reporting bugs on the Ethereum protocol. Rewards can also be doubled to $500,000 during crucial events.

” As the Execution Layer & Consensus Layer become increasingly interconnected, it becomes more valuable to combine security efforts across these layers. Client teams and the community have already organized multiple efforts to increase the knowledge and expertise of the layers. Unifying the Bounty Program will further increase visibility and coordination efforts on identifying and mitigating vulnerabilities.”

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