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Tag: Hopes

  • Why Ethereum Needs To Clear $2,650 For Hopes of a Fresh Rally

    Why Ethereum Needs To Clear $2,650 For Hopes of a Fresh Rally

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    Ethereum extended decline below the $2,525 support zone against the US Dollar. ETH price remained bid near $2,500 and currently attempting an upside break.

    • Ethereum is still struggling to clear the $2,600 and $2,625 resistance levels.
    • The price is now trading below $2,600 and the 100 hourly simple moving average.
    • There is a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could start a fresh decline if it fails to clear $2,625.

    Ethereum Price Faces Hurdles

    Ethereum started a fresh decline from well the $2,625 zone. ETH traded below the $2,550 and $2,525 support levels to move into the red zone.

    The price even spiked below $2,500 and settled below the 100 hourly simple moving average. Ether price traded as low as $2,486 and recently recovered sharply. There was a clear move above the $2,525 and $2,550 resistance levels.

    The bulls pumped the price above the 50% Fib retracement level of the recent decline from the $2,624 swing high to $2,486 low. It is now facing resistance near the $2,580 level.

    There is also a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $2,624 swing high to $2,486 low.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The first major resistance is seen near the $2,625 level. The next major resistance is near the $2,650 level. A close above the $2,650 resistance could start a steady increase. In the stated case, the price might rise towards the $2,750 level.

    Fresh Decline in ETH?

    If ethereum fails to start a fresh increase above the $2,625 level, it could start another decline. An initial support on the downside is near the $2,550 level.

    The next major support is near the $2,500 level. A close below the $2,500 support zone could even push the price below $2,480. The next major support might be near the $2,420 level, where the bulls might take a stand. If they fail, there is a risk of a move towards the $2,350 level.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now above the 50 level.

    Major Support Level – $2,500

    Major Resistance Level – $2,650

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  • Joe Rogan Holds High Hopes For The Cryptocurrency Industry

    Joe Rogan Holds High Hopes For The Cryptocurrency Industry

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    There have been several reactions and comment from prominent personalities about the trend of cryptocurrency from the beginning of 2022. The world’s most prominent controversial podcaster and comedian, Joe Rogan, has just expressed his ‘hope’ for digital assets. He made this confession during a recent podcast interview.

    On January 8, Rogan, through the 1760th episode of his podcast ‘The Joe Rogan Experience,’ deliberated on the crypto future. This discussion was with Adam Curry, his fellow podcaster.

    The estimated number of listeners for every episode of Rogan’s podcast is about 11 million. This is significantly high irrespective of the moves from Spotify in censoring some offensive episodes. Also, Rogan’s podcast bagged the top position of the most popular during 2021 on Spotify.

    The world’s most prominent podcaster stated that cryptocurrency would either entirely fall or become an opportunity for sailing to a better future for human lives.

    Curry stated that several young individuals are moving out on his part. Such moves could be for developing parallel networks and systems. He confirmed his loyalty to Bitcoin by stating that he’s on the BTC train to provide more security for his funds. He lamented the broken money system, causing misery, inflation, and even wars due to its link to oil.

    Related Reading | How the CFTC fine on Coinbase could affect future crypto company listing

    Curry has been the host of ‘No Agenda,’ a right-wing podcast that has received criticisms from the medical community and mainstream media. They believed that Curry has been promoting conspiracy theories.

    Metaverse And Cryptocurrency Vision From Podcasters

    The discussion between Rogan and Curry transcended to the potential of digital Metaverse that Silicon Valley controls. Also, they talked about NFTs and their role within the crypto space.

    Cryptocurrency
    The crypto total market cap stays above $2 trillion | Source: TradingView.com

    Rogan composed a theory for the future where firms could devise their digital tokens. Hence, buying their products will demand that customers utilize the tokens.

    He cited that Apple could achieve that with ease. Rogan explained that the process would be first to buy the digital coins you will use to buy the company’s products. He said that the process is similar to stocks.

    Reacting to that, Curry expressed his disagreement by saying that Rogan’s explanation is different from the plan. Instead, Curry stated that powerful governments and institutions are expected to focus on their Central Bank Digital Currencies, CBDCs.

    He mentioned that individuals would have crypto tokens and wallets allocated from the Federal Reserve. Hence, retail banking will have little or no use.

    Irrespective of the positive vibes from the podcasters in appreciating cryptocurrency, lots of crypto community members are pretty skeptical.

    Related Reading | Did US Regulators Began Offensive Against Crypto Platforms? CFTC Fines Kraken

    The two podcasters, Rogan and Curry, stand within the crypto space as being highly controversial. Rogan is famous for his kicks against ‘political uprightness. So, he had gained past criticism for his jokes that depicts racism, sexism, and transphobia.

    Rogan received payment from CashApp in July 2021 to advertise Bitcoin to his listeners. Also, in November, he got $100,000 as a BTC payment.

    Featured image from Pixabay, chart from TradingView.com

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