Connect with us

Bitcoin

Ethereum drops 9% due to risk-on assets falling on Fed Chair remarks

Ethereum’s (ETH) price dropped along with other cryptocurrencies after Jerome Powell, the Chairman of the US Federal Reserve, made hawkish comments. By the close of stock markets Friday, Ethereum was down 9%, near $1,555 per token with bears looking to break towards $1,500. The dip happened after downside pressure late afternoon had seen the ETH/USD…

Ethereum’s (ETH) price dropped along with other cryptocurrencies after Jerome Powell, the Chairman of the US Federal Reserve, made hawkish comments.

By the close of stock markets Friday, Ethereum was down 9%, near $1,555 per token with bears looking to break towards $1,500. The dip happened after downside pressure late afternoon had seen the ETH/USD pair snap below $1,600 – the losses mirroring Bitcoin (BTC), which broke below $21,000 to touch intraday lows of $20,620.

Ethereum, and the merge factor

Ethereum’s losses on Friday helped push the altcoin to lows last seen in late July, when ETH/USD traded in the $1,400 range. It is still well above the mid-June floor but the current weakness comes amid an overwhelmingly positive period for smart contracts platform.

Ethereum developers have confirmed that the “Merge”, an highly awaited event, will take place in mid-September.

The number of $ETH deposits into the Beacon chain contract is now at a stable but macro low of 220 deposits/day.

This could indicate a stable holding pattern, as investors wait for a successful Merge. It is scheduled for mid September.

Live Chart: https://t.co/uVDy2zfZBr pic.twitter.com/rmXoSKAqr0

— glassnode (@glassnode) August 23, 2022

While ETH deposits to the Beacon Chain are slowing down, the community is optimistic about the Ethereum blockchain and, consequently, the price of Ether.

However, even though many analysts view the “Merge” as a catalyst for the next market cycle’s onset, there are calls to believe that the market has priced in the event.

Wall Street plunges after Fed Chair remarks

Stocks also fell after Powell said at the Jackson Hole symposium that the central bank had a job to do and that they would keep at it “till it’s done.”

He stated that the Fed must maintain its aggressive approach to restoring price stability. The Fed Chair stated that the central bank had yet to adopt a loosening approach.

His remarks appear to have spooked markets, with S&P 500 slipping more than 3%, the Nasdaq Composite fell nearly 4% and the Dow Jones Industrial Average fell more than 1,000 points.

Read More

Continue Reading
Advertisement I show You how To Make Huge Profits In A Short Time With Cryptos!
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

5 Best Cryptos To Buy As Bitcoin Price Heads Towards $90K

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.


The price action of Bitcoin has witnessed a strong rebound. So analysts are now on the lookout for the best crypto to buy. This recent upsurge in Bitcoin is believed to mark the beginning of the long awaited bull run. As a result, many investors are considering altcoins like INJ, NEAR, TIA, SUI, and Remittix for huge gains. .

However, Remittix continues to shine brightly in the PayFi sector.  Read on to learn more.

Injective Teases Bullish Reversal Setup

Injective Teasers Based on Bullish Reversal If the rising channel support stays true, crypto expert Clifton Fx said, Injective might be preparing to review the upper border of the channel, a zone corresponding with past highs and denoting the next main resistance level.

On the other hand, a clear collapse below the present support would destroy the optimistic framework and maybe cause further downside and a test of less support zones. Since volatility still shapes price behavior all throughout the market, risk management is still very important.

Supported by oversold indicators and a historically meaningful support level, injective is displaying traditional signals of a bullish reversal. Coupled with rising market mood and Bitcoin’s strength, INJ might soon be on the rise, making it the best crypto to buy for those paying close attention.

NEAR Price Closes Below Support

NEAR has dropped since March 2024, according to the weekly time frame price study; it accelerated its fall from a lower high in December. Since then, the price has dropped nearly entirely without retracing, breaking from the $2.65 horizontal support range last week to a low of $1.82. The next nearest support is at the cycle lows of $1.25, which is about 40% below the present price.

Technical signals are clearly negative. Whereas the Moving Average Convergence/Divergence (MACD) is negative, the Relative Strength Index (RSI) is less than 50.

Both are declining, thereby verifying the negative NEAR trend. In 2025 the NEAR trend has been bearish, breaking off a long-term horizontal support level. Although the long run is bearish, there may be a notable short-term rebound. A breakthrough from its declining wedge may bring the NEAR price to $3.50. This makes NEAR the best crypto to buy.

Celestia (TIA) Price Outlook

Celestia is trading now between $2.31 and $4.17. Resistance lies close to $5.28; a second push is likely around $7.14; support is projected around $1.55. Bears have sway for now; the price is failing to rise higher and there is no significant directional trend. Careful trading within these ranges could test resistance and identify fresh support at the present critical level.

With a little weekly dip of 2.34%, Celestia (TIA) Price Outlook showed a 26.12% reduction over the previous month and a 59.19% fall over the last six months. With volatility characterizing their recent performance, price fluctuations have been significant and have resulted in notable changes in opinion. Indicators show a distinct downward trend throughout these periods and waning impetus as the market adapts.

SUI Price Action and Prediction

Following back-to-back Change of Character (CHoCH) and Break of Structure (BOS) pattern formations, the SUI price dropped significantly to $2.1395.

The crypto answered the CHoCH pattern fast. It happened close to $2.60, immediately reversing prices and starting a major drop.

As purchasers attempted desperately to absorb selling pressure, candle bodies hung over the $2.00 region without shattering it. Should prices continue to trade above the $2.00 support zone, a positive reversal of SUI might be seen. Should SUI close above the BOS level just below $2.40, a reversal would be confirmed and perhaps lead to more testing of the $2.60 supply zone.

If the price dropped below EQL, then a drop below $2.00 closing price would be inevitable, therefore verifying the continuation of the downtrend. Price decline might go into the intermediate zone of $1.80, where past accumulation was seen. Until the price structure dropped below the point of the $2.20 BOS support level, the market scenario generally remained cautious as short-term fluctuations continued at the $2.00 support level.

Why Remittix Is The Best Crypto To Buy Now

After selling over 528 million tokens and raising more than $14. 4 million in its presale stage, Remittix (RTX) is reinventing global payments by aggregating FIAT transactions using blockchain technology.

Remittix offers quick and competitively priced cross-border solutions. It is the better alternative to conventional payment providers like Stripe and Wise.Notable also is the open flat-fee strategy of the platform, which provides savings and openness over ridiculous rates of exchange of traditional banks.

Remittix is groundbreaking in the payments sector as it ensures that the whole amount sent reaches the receiver, therefore addressing unethical behavior all too frequently. The RTX currency shows strong investing possibilities at $0.0734 at the presale stage. Forecasts show an intriguing surge; demand for creative cross-border payment solutions is creating a 25x multiplier in the presale period and over 1,500% rises post launch.

Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

/div>

Read More

Continue Reading

Bitcoin

Bitcoin Tops $90K as Markets Rebound Despite Tariff Friction

The top digital asset roared past $90K on Tuesday morning as both traditional and crypto markets saw positive momentum despite Trump fumbling a trade deal with Japan. BTC Rally Defies Trade War Fears, Hits $90K Milestone Markets have been going haywire lately due to unresolved tariff concerns…
Read More

Continue Reading

Bitcoin

Is iDEGEN (IDGN) worth a look as presale hits $22m?

As investors take note of the opportunities available in the market, one project attracting massive attention is iDEGEN. On February 27, 2025, the AI agent project’s token IDGN will go live. Ahead of this highly anticipated listing, the iDEGEN presale is on fire. Why is iDEGEN trending? Fresh momentum amid huge developments in the artificial…


The birth of iDEGEN: a new era of community-powered AI

As investors take note of the opportunities available in the market, one project attracting massive attention is iDEGEN.

On February 27, 2025, the AI agent project’s token IDGN will go live. Ahead of this highly anticipated listing, the iDEGEN presale is on fire.

Why is iDEGEN trending?

Fresh momentum amid huge developments in the artificial intelligence space have seen the project top $22.6 million. With just 10 days to go, the scramble to be part of the AI agent revolution is set to get even more frenzied.

This is because of the potential for iDEGEN to take over the AI meme coin space. iDEGEN is the first degen raised AI agent. Its unique approach had the agent starting off as a blank slate. However, it has learned everything from the community and posts once every hour.

An unfiltered approach and a growing market combine to put this project on top of the trending list. Over the past several weeks, iDEGEN has taken the center stage in driving the conversation on Crypto Twitter. Notably, the iDEGEN TikTok account is also recording a sharp spike in followers.

While its uncensored approach has landed the iDEGEN AI agent into X trouble, the bans have only helped fuel interest among investors.

Per details on the project’s presale page, the number of social impressions has jumped to over 2.5 million. The ICO has seen over 1.7 billion tokens sold, with potential hodlers currently above 24,700.

iDEGEN’s strong ICO run ahead of its debut in the market has investors excited for what’s possible. Speculation that top crypto exchanges could be eyeing IDGN for listing has only sparked further interest.

Is iDEGEN worth a look today?

The AI agent market is relatively small despite the recent breakout success for projects like Virtuals Protocol and ai16z. CoinGecko data shows the sector’s market cap today at $7 billion. In comparison, the meme coins market is at $81 billion and AI memes at just over $3 billion.

Given, the broader AI market, where OpenAI, Nvidia, Google and Microsoft among others are heavily investing in, is projected to rise further. These initiatives, including Project Stargate, suggest it might be early days for iDEGEN and other projects.

Presale opportunity is thus likely to be a major coup for early birds. Interestingly, there’s just 10 days to go before IDGN its exchanges on February 27, 2025. Buying at the current presale price of $0.0285 provides a bargain offer, with iDEGEN’s final presale price set at $0.038.

iDEGEN also offers staking opportunity, which has already attracted close to 100 million in staked tokens.

To learn more about iDEGEN, visit the official website.


Share this article

Categories

Tags

Read More

Continue Reading

Trending

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