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Bitcoin continued to trade above $20,000 on Wednesday, as the token remained near a two-week high. Bullish momentum in cryptocurrency markets has been higher this week, with prices surging after a recent downward spell. Ethereum, on the other hand, was largely unchanged in today’s session. Bitcoin Bitcoin (BTC) was once again trading above $20,000, as the token continued to trade near a two-week high. BTC/USD surged to a peak of $20,479 late in Tuesday’s session, which was its highest point since September 13. On Wednesday, prices remained near this level, however slipped marginally after failing to extend a breakout of a key resistance point. The token slipped below this ceiling of $20,350 earlier today, and as of writing, is trading at $20,024.63, which remains higher than yesterday’s low of $19,917.91. As can be seen from the chart, the 14-day relative strength index (RSI) has also declined today, with the indicator now tracking at 52.45. This mark is marginally under a support level of 53.00, and should the reading continue to depreciate, we will likely see BTC back below $20,000. Ethereum Ethereum (ETH) was mostly consolidating on Wednesday, as the token fell back towards a support point of its own. Following a high of $1,364.97 during yesterday’s session, ETH/USD dropped to an intraday low of $1,335.89 earlier in the day. As a result of this slippage, the world’s second largest cryptocurrency moved back towards its floor of $1,330, a level which it broke out of less than 24 hours ago. Looking at the chart, the decline appears to have come once the RSI failed to move beyond yesterday’s resistance of 44.90. Currently price strength is tracking at 43.67, and seems to be heading for a floor close to the 42.00 level. Should it arrive at its destination, then there is a strong likelihood that ethereum will be under $1,300. Register your email here to get weekly price analysis updates sent to your inbox: Do you anticipate ethereum falling below $1,300 this week? Leave your thoughts in the comments below.
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The crypto market showed some strength in the last 24 hours. Bitcoin prices went up by 2.57% in the last 24 hours and are currently trading at $20,161. Ethereum also surged by 1.8% in the last 24 hours and crossed the $1,352 mark.  XRP broke its slide and surged by... Read more
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INTERNET CITY, DUBAI, Sep. 30, 2022 – LBank Exchange, a global digital asset trading platform, has listed GasBlock (GSBL) on September 30, 2022. For all users of LBank Exchange, the GSBL/USDT trading pair is now officially available for trading. Utilizing the power of blockchain technology, GasBlock (GSBL) is here to revolutionize global Shale Gas supply chain with maximized efficiency, security and profitability. Its native token GSBL has been listed on LBank Exchange at 6:00 UTC on September 30, 2022, to further expand its global reach and help it achieve its vision. Introducing GasBlock GasBlock is a compound word of Gas and Blockchain, representing the goal of business maximizing the efficiency, profitability and security of Shale Gas abstraction, marketing and circulation by adopting blockchain to the whole process of it. Shale Gas abstraction tolerates 0 error from safety management. Abstraction also tolerates 0 error for assessing economic feasibility. All of them have a room for a break through improvement by adoption of blockchain. GasBlock adopted the Ethereum blockchain’s ERC-20 solution with a proven track record of safety, security, transparency and cost effectiveness through billion times of global transaction, of which transparency and efficiency enables the revolutionary gas abstracting business. GasBlock will create a globally unique enterprise resource planning (ERP) solution and platform dedicated to Shale Gas business to provide customized platforms to developers and management organizations that currently play a leading role in Shale Gas mining in the United States, the United Kingdom, and China, and allocate annual service fees and operating profits. There are multiple participants in GasBlock ecosystem, including an entity assessing the economic feasibility of candidate gas abstracting spots, gas abstracting and mining specialized companies and equipment suppliers, large scale abstraction, refinement and merchandizing companies and factories, global supplier and marketing companies specialized in Shale Gas distribution, etc. And by adopting blockchain technology, these participants of GasBlock economy are acquiring the optimized profit and business security. In addition, GasBlock is planning to release a wallet with web3-based technology that has functions such as safe management, possession, transmission, and transaction of coins. After the wallet function is settled, the company plans to introduce a function to disclose the current status of all business processes, especially the current number, work status, and profitability of gas mining sites, so that all owners can easily understand the current profitability and business flow. About GSBL Token GSBL is the native token of GasBlock that is critical to purchasing essential software, obtaining certificates, and having licenses to build platforms early in the market. Based on ERC-20, GSBL has a total supply of 300 million (i.e. 300,000,000) tokens, of which 20% is provided for token sale, 20% is allocated for global legalization, 20% will be the cost for pre-assessment for economic feasibility for candidate abstracting sites, 15% is provided for building of DB for platform structuring, 20% will be used for license purchase of global economic information, and the remaining 5% is allocated for business operations. The GSBL token has been listed on LBank Exchange at 6:00 UTC on September 30, 2022, investors who are interested in the GasBlock investment can easily buy and sell GSBL token on LBank Exchange right now. The listing of GSBL token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market. Learn More about GSBL Token: Official Website: http://gasblock.io/index_eng.html Telegram: https://t.me/gasblock_official About LBank LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies. Start Trading Now: lbank.com Community & Social Media: l   Telegram l   Twitter l   Facebook l   LinkedIn l   Instagram l   YouTube Contact Details: LBK Blockchain Co. Limited LBank Exchange marketing@lbank.info business@lbank.info   The post GasBlock (GSBL) Is Now Available for Trading on LBank Exchange appeared first on Live Bitcoin News.
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After 11 long months, Ethereum breached its 11-month-old resistance with the help Of Fidelity's New Index fund. How did this all happen exactly, and what does it mean for the Future of Ethereum?Background Minimum investment requirements for the Fidelity Ethereum Index Fund (1) are  $50,000 and $5 million in total sales. Only accredited investors could purchase the asset manager's new Index Fund, which would track the Fidelity Ethereum Index PR. After several weeks of dismal sluggish movement, Ethereum registered a small bullish trend on Wednesday. While the overall market increased when Elon Musk's $44 billion Twitter deal was revived, Ethereum has another outside factor backing its 6% increase. Fidelity, a $4.5 trillion asset management firm, had registered for a new Ethereum Index Fund, its second of the like in the last two years.A new fund from FidelityAccording to a filing with the Securities and Exchange Commission (SEC) (2), the Fidelity Ethereum Index Fund began selling its shares on September 26 and has raised a little over $5 million.  In addition, the fund has a $50,000 minimum investment requirement for outside investors. The Wise Origin Bitcoin Index Fund launched in 2020, and the Ethereum Index Fund is the second product from Fidelity's Digital Asset Management division to be released.By the end of May 2021, the Bitcoin fund had amassed investments totaling more than $125 million. The new Ethereum fund will monitor the performance of the Fidelity Ethereum Index PR. This is the second significant index fund filing seen in the crypto market this week after New York Digital Investment Group's (NYDIG) new Bitcoin Fund LP was reported on Tuesday. With an average investment of $12.2 million from each investor, this fund raised close to $720 million.Image source: Tradingview.comEthereum reaches a new peakThe price of ETH (3), currently trading at $1,359, has increased by more than 6% due to the general market's bearishness. While announcing the fund's debut kept the candles in the green, it supported ETH's breach above the wedge formed by an 11-month decline. Despite numerous breaches, ETH has been downtrend since its record high in November 2021.For the time being, ETH may go closer to $1,426 with a retest of the upper trend line as support. This price has been repeatedly tested and is the next significant barrier for the Leader of an altcoin.
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Ethereum cleared the key $1,350 resistance zone against the US Dollar. ETH is rising and might climb further higher towards the $1,500 resistance zone. Ethereum is slowly moving higher and trading above the $1,350 level. The price is now trading above $1,350 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $1,370 resistance. Ethereum Price Eyes More Upsides Ethereum formed a support base above the $1,250 level. ETH remained strong and started a steady increase above the $1,300 level. The price was able to clear the $1,320 resistance zone and the 100 hourly simple moving average. There was also a move above the $1,350 level. It traded as high as $1,369 and is currently consolidating gains. Ether price is now trading above $1,350 and the 100 hourly simple moving average. The price is also trading above the 23.6% Fib retracement level of the upward move from the $1,268 swing low to $1,369 high. Besides, there is a major bullish trend line forming with support near $1,350 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $1,370 zone. Source: ETHUSD on TradingView.com A clear break above $1,370 might start another increase towards the $1,400 level. If the bulls remain in action, the price could rise towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance zone. The next major resistance sits near the $1,550 level. Dips Limited in ETH? If ethereum fails to climb above the $1,360 resistance, it could start a downside correction. An initial support on the downside is near the $1,350 level and the trend line. The next major support is near the $1,320 level. It is near the 50% Fib retracement level of the upward move from the $1,268 swing low to $1,369 high. A downside break below the $1,320 level might send the price towards the $1,275 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now well above the 50 level. Major Support Level – $1,320 Major Resistance Level – $1,370
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The Securities and Exchange Commission is moving to take action against Ethereum that reaches far beyond America’s borders.
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Polygon, the popular Ethereum layer-2 solution, has bagged substantial gains amidst a bearish market. Over the past 24 hours, Polygon has achieved a strong performance, recording a 4.37% gain at $0.833. The L2 protocol’s market valuation of $7.07 billion places it back in the top 12, above both DAI and Shiba Inu. Compared to its all-time high of $ 2.68 in December ’21, MATIC is down by roughly 73% at its present pricing. However, the same factors that contributed to Polygon’s fall also hampered the performance of cryptocurrencies during 2022. Related Reading: Bitcoin Bounce Coincides With Possible Macro Reversal | BTCUSD Analysis October 4, 2022 What Polygon Has Been Up To These Summer Months The entire crypto market faces bearish trends during the summer months, and Polygon was no exception. Looking at the daily data for Polygon, we can see that it hit a low of $0.313 in June. It rebounded from that low by more than 240% to reach $1 again in just two months. The price eventually found support in the region of $1. This is where the 50% Fibonacci retracement level supplied by the bearish vector it controls passes. This level was calculated using data ranging from the highs of $1.75 in March to the lows of $0.31. Zoom in on the previous few weeks. We can see that $ 0.69 has been a crucial supporting region for MATIC throughout. The price has since bounced back up. Currently, the most important metric is the bearish vector from September’s high of 0.9438 to its $ 0.69 low. MATIC Hits 3-Week High After yesterday’s failed breakthrough, Polygon (MATIC) was a top performer, rising to a three-week high on Tuesday. At the beginning of the weekend, the MATIC/USD currency pair traded as low as $0.7548. This was just slightly lower than its floor of $0.7690. But as optimism returned to the cryptocurrency market, the token shot up to a high of $0.8336 during the day.  This high marks Polygon’s strongest position since the middle of September. It also coincides with the 14-day relative strength index (RSI) reaching its greatest point over three weeks. The index is now trading around 55.90, just below a higher resistance point at 57.65. If this barrier is broken through, then the token price will most likely climb closer to the $0.8500 level. MATIC’s price currently stands at $0.815. | Source: MATICUSD price chart from TradingView.com Polygon Surge Might Be Related To Recent Integration News Polygon’s recent surge might be related to recent bullish news. On September 27, RobinHood, a popular crypto brokerage, launched its non-custodial wallet with MATC to over 10k beta testers.  Robinhood Wallet beta customers could get MATIC from the company’s primary trading app. They’ll be able to use the DeFi platform, which hosts dApps like Uniswap, Kyberswap, and others, on the Polygon network.  Related Reading: Dogecoin On Fire, Rallies After Elon Musk-Twitter Deal Confirmation Shopping.io, a cryptocurrency-focused e-commerce site, also said it would accept Polygon’s native token MATIC as a payment method. Token users will receive free delivery for the first seven days and a 2% 30-day discount. These bullish reports might be responsible for the surge in activity. As of writing, MATIC trades at $8.33, up by almost 12.31% in seven days. Featured image from Pixabay and chart from TradingView.com
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Meme coin Shiba Inu has held up better than expected, but the digital asset is still down considerably from its all-time high. However, this has not stopped the development that has been going on behind the scenes, and now SHIB developers have begun to share the products that they have been working on. These, and others, have shown a promising future for the digital asset, but some show some possible upside for SHIB this week. A Game, A Whale, And A Burn The past week has been an interesting one for Shiba Inu. First, lead Shiba Inu developers announced that the SHIB Eternity game was complete and is now being tested by users. The game has been made available to community members in Vietnam and Australia, some of whom have taken to Twitter to share their experiences with the game. So far, the reviews have been good, and SHIB Eternity is set to be available for general download on Thursday. Another important development for the meme coin is a large purchase from one of the biggest Ethereum whales. This whale which is ranked as the 98th largest ETH whale, had purchased 300 billion SHIB. The total came out to $3,417,000 at the time of the purchase. But even more important was what the whale did with the tokens once purchased. This whale had moved the SHIB in two different transactions to anonymous wallets, presumably for holding. SHIB down more than 80% from all-time high | Source: SHIBUSD on TradingView.com Third on this list is the SHIB burn that has been going on for a while. With each passing day, the burn has been accelerated, which has done well to boost the morale of community members. In the span of 7 days, more than 560 million SHIB had been burned across 54 transactions, with a total of 257.49 million SHIB burned in a single transaction, a new record. Can This Boost Shiba Inu Price? These events are important to meme coins like Shiba Inu, which had been heavily criticized for its lack of utility and large supply. SHIB has now transcended just being used as a payment token as its only utility to having a working game that players can enjoy. The launch is an anticipated one that will likely boost the price of the digital asset once announced. Large purchases from whales have also been known to move the price of the digital asset. For example, following the $3.4 million purchase by the 98th largest ETH whale, Shiba Inu’s trading volume had jumped more than 50% and saw a price gain of about 1.2% in the same 24-hour period. It may not be a large jump by established margins, but it works to help prop up the price of the cryptocurrency at a time when digital assets are suffering dips. The SHIB burn is perhaps one of the most important things for the digital asset. By reducing the supply of any asset, the higher the chance that the value goes up. However, it is important to keep in mind that the trading volume of SHIB is on the decline, which could lead to a muted performance over the next week. Featured image from Finbold, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
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