Ethereum Resumes Decline, Here’s What Could Trigger More Downsides

Ethereum failed to continue above $2,500 and started a fresh decline against the US Dollar. ETH price is showing bearish signs and it could continue lower below $2,240. Ethereum is struggling to gain bullish momentum above the $2,400 and $2,500 levels. The price is now trading well below $2,450 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,410 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if it breaks the $2,200 support zone…

Arbitrum Launch: Layer 2 Ethereum Unpacked

Key Takeaways Arbitrum, an Optimistic Rollup scaling solution for Ethereum, has successfully launched. Layer 2 scaling aims to reduce congestion on the base chain while still benefitting from its security. Reduced congestion on Ethereum will reduce gas fees for every user, not only the ones using Layer 2. Share this article Scalability has been Ethereum’s biggest challenge as its popularity rises. One of the key Layer 2 solutions hoping to solve the issue, Arbitrum, has now launched. The Road to Scaling Ethereum During the recent market crash on May 19,…

WisdomTree Files Ethereum ETF Application with the SEC

Share this article New York-based financial service firm WisdomTree has filed an application with the American securities regulator for approval of an Ethereum ETF.  Second Ethereum ETF Application WisdomTree has submitted a Form S-1 for securities registration with the Securities and Exchange Commission (SEC) to list WisdomTree Ethereum Trust shares on the Cboe BZX Exchange.  The shares would provide exposure to ETH based on the CF Ether-Dollar US Settlement Price provided by CME. The asset management fund also has a pending Bitcoin ETF application.  The debut of Ethereum futures on…

Monthly $1.9B Ethereum futures and options expiry will determine if ETH hits $3K soon

The May 28 futures and options expiry could be a turning point for Ether (ETH) as the cryptocurrency rebounded 60% from its $1,730 low on May 23. Even though the open interest stands at $6.2 billion, only 16% is set to expire on Friday as most of the action takes place on perpetual and June contracts. One must account for the options expiry as it could present an imbalance of forces. This feature is not true for futures markets, where longs (buyers) and shorts (sellers) are matched at all times.…

The Chart Pattern That Takes Ethereum To $10K

In a flash, Ethereum is back to trading under $3,000 after just weeks ago reaching a high well over $4,000. The wider crypto market correction got the best of ETH and the rest of altcoins especially, and even managed to take down Bitcoin. However, if past market cycles are any indication of future results, the crash could be the first touch of an ascending trendline that sends the top-ranked altcoin to around $10,000 per ETH. How DeFi and NFTs Make For A Very Different Bull Run Than ICOs During the…

Carl Icahn Bullish Ethereum, May Invest $1.5B in Crypto

Key Takeaways Carl Icahn told Bloomberg TV that he may invest up to $1.5 billion in the cryptocurrency space. Icahn spoke about inflation of the U.S. dollar and recognized Bitcoin and Ethereum as alternative stores of value. He added that he thinks crypto “is here to stay one form or another.” Share this article Carl Icahn is weighing up a big investment in the cryptocurrency space.  Carl Icahn Talks Crypto  Billionaire investor and former crypto skeptic Carl Icahn is considering buying into cryptocurrencies.  Speaking to Bloomberg TV Thursday, the 85-year-old…

Ethereum Corrects Gains, Here’s Why 100 SMA Is The Key for Fresh Increase

Ethereum failed to continue above $2,900 against the US Dollar. ETH price corrected gains and it is now trading near a major support at $2,640 and the 100 hourly SMA. Ethereum broke the $2,850 resistance, but it failed to gain pace above $2,900. The price is now testing the $2,650 support and the 100 hourly simple moving average. There was a break below a key bullish trend line with support at $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the 100 hourly…

Altcoins soar while Bitcoin and Ethereum price stall near key levels

On May 26 the the bullish momentum that had propelled Bitcoin and altcoins into a relief rally was somewhat subdued as traders remain unsure of what may happen next.  After an early morning attempt by Bitcoin bulls to drive (BTC) price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level. BTC/USDT 4-hour chart. Source: TradingView Despite the continued struggle, a few positive signs like a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped…

GameStop to Build NFT Platform on Ethereum

Key Takeaways GameStop has shared a website and Ethereum contract for a new NFT platform. The smart contract also hints at a GME token launch. Meme stocks like GameStop, AMC Entertainment are regaining bullish strength backed by retail investment. Share this article GameStop is launching an NFT platform on Ethereum. The company is encouraging game developers and other industry experts to contribute.  GameStop Joins NFT Craze GameStop is getting into NFTs. The video game retailer has created a website and shared a smart contract for a new platform that will…

Ethereum Breaks Key Resistance, Here’s Why ETH Could Test $3K

Ethereum extended its upward move above the $2,750 resistance zone against the US Dollar. ETH price is showing positive signs and it could rise towards $3,000 or even higher. Ethereum extended its recovery wave above the $2,650 and $2,750 levels. The price is now trading above the $2,700 support and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now showing signs of more gains above…