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  • Ethereum Price Could Regain Strength If It Clears This Key Hurdle

    Ethereum Price Could Regain Strength If It Clears This Key Hurdle

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    Ethereum price is attempting a fresh increase wave above the $3,400 zone. ETH must clear the $3,580 resistance to continue higher in the near term.

    • Ethereum is holding gains above the $3,250 support zone.
    • The price is trading above $3,400 and the 100-hourly Simple Moving Average.
    • There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could continue to rise if it settles above the $3,500 resistance zone.

    Ethereum Price Eyes Fresh Increase

    Ethereum price remained stable above the $3,250 support zone. ETH formed a base and started a fresh increase above the $3,350 resistance level, like Bitcoin.

    ETH climbed above the $3,400 resistance zone. There was a move above the 50% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low. There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD.

    Ethereum is now trading above $3,400 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,500 level. It is near the 76.4% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The first major resistance is near the $3,550 level. The next key resistance sits at $3,580, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,720 level. If there is a move above the $3,720 resistance, Ethereum could even climb toward the $3,880 resistance. Any more gains might call for a test of $4,000.

    Another Decline In ETH?

    If Ethereum fails to clear the $3,500 resistance, it could start another decline. Initial support on the downside is near the $3,400 level.

    The first major support is near the $3,250 zone. The next key support could be the $3,060 zone. A clear move below the $3,060 support might send the price toward $3,000. Any more losses might send the price toward the $2,880 level.

    Technical Indicators

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

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

    Major Support Level – $3,400

    Major Resistance Level – $3,580

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Bitcoin Key Indicators Suggest Strengthening Case For Fresh Surge

    Bitcoin Key Indicators Suggest Strengthening Case For Fresh Surge

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    Bitcoin is slowly gaining pace above $46,500 against the US Dollar. BTC must clear $47,000 to move into a positive territory in the short term.

    • Bitcoin is slowly moving higher above the $46,500 resistance zone.
    • The price is trading above $46,200 and the 100 hourly simple moving average.
    • There is a major bearish trend line forming with resistance near $46,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a strong increase if there is a clear move above the $47,000 resistance.

    Bitcoin Price Eyes Upside Break

    Bitcoin price extended decline and tested the $45,150 zone. BTC formed a base above $45,150 and started a fresh increase. There was a break above the $45,500 and $45,800 levels.

    The price was able to climb above the 50% Fib retracement level of the recent decline from the $47,444 swing low to $45,153 low. It is now trading above $46,200 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $46,700 level.

    Besides, there is a major bearish trend line forming with resistance near $46,700 on the hourly chart of the BTC/USD pair. The next resistance could be near $47,000 or the 76.4% Fib retracement level of the recent decline from the $47,444 swing low to $45,153 low.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    A clear move above the $47,000 resistance could start a major increase. In the stated case, the price may perhaps rise towards the $48,000 resistance. Any more gains might send the price towards the $50,000 barrier. An intermediate resistance may possibly be near the $49,250 level.

    Upsides Capped in BTC?

    If bitcoin fails to clear the $47,000 resistance zone, it could start another decline. An immediate support on the downside is near the $46,200 level and the 100 hourly simple moving average.

    The next major support is seen near the $45,800 level. The main support now sits near the $45,150 level. A downside break below the $45,150 support zone could start a major decline. In the stated case, the price could even decline to $44,000 in the near term.

    Technical indicators:

    Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is above the 50 level.

    Major Support Levels – $46,200, followed by $45,150.

    Major Resistance Levels – $47,000, $48,000 and $50,000.

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  • 4 key takeaways from KPMG Pulse of Fintech Report

    4 key takeaways from KPMG Pulse of Fintech Report

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    As Bitcoin (BTC) and altcoins took a break from reaching new all-time highs, the market sentiment seems gloomy since the start of 2022. However, while the market seems to be sleeping, its trajectory shows that there’s more to look forward to in the coming months.

    Multinational professional services network KMPG published its biannual Pulse of Fintech report, where the firm tracks and analyzes developments and investments within the financial technology sector. The report highlighted the most notable developments in major regions like the Americas, Asia Pacific and EMEA, and pointed out the “surging interest” in crypto and blockchain in the past year.

    While the scope of the report covers a broader context, crypto and blockchain remained as one of the key topics. Here are the main takeaways from the Pulse of Fintech report by KPMG.

    Over $30 billion in investments entered crypto and blockchain

    From the $5.5 billion amassed in 2020, investments in the crypto and blockchain space rose to more than $30.2 billion in 2021. This shows that more companies have recognized that crypto and its technologies have potential roles to play in modern financial systems.

    Brian Heaver, KPMG US Managing Director thinks that 2021 is very significant for crypto when it comes to adoption.

    “There’s an incredible number of companies trying to do a lot of things in the crypto and blockchain space right now — and while we don’t know where all their efforts are going to land, there’s a ton of curiosity and interest in the possibilities.”

    Regtech focused on crypto despite the shift in Asia-Pacific

    Despite the outright crypto ban in China, technologies that help regulate crypto have been “a relatively hot area of investment” according to KPMG. The firm predicts that there may be more investments to come in regulation technology (regtech) solutions focusing on cryptocurrencies in the future.

    This may also make its way to Europe according to KPMG International’s Global Head of Regtech, Fabiano Gobbo.

    “While the US continued to attract the vast majority of investments in regtech, Europe is well-positioned to see growth heading into 2022.”

    Related: Global crypto adoption could ‘soon hit a hyper-inflection point’: Wells Fargo report

    Blockchain use cases are growing

    In 2021, as investors started to become more familiar with blockchain, interest in its various use cases has also grown. According to KPMG, the “universe of blockchain applicability” has expanded in 2021. The year spurred more interest in a wide range of blockchain applications, including multi-jurisdictional blockchain uses cases for data, research and analysis.

    Because of this, the firm also predicts that crypto will attract “investors of all types” including retail investors as well as corporate and institutional investors because of the increase in use cases.

    Singapore-based crypto investments grew more than tenfold

    As previously reported by Cointelegraph, crypto investments in Singapore grew very significantly in 2021. The global crypto hub recorded a whopping $1.48 billion in crypto-focused investments last year. This wildly surpasses its previous record in 2020 which was $110 million. The region’s crypto investments accounted for 5 percent of the total global investments in crypto in 2021. It also makes up a third of all investments in the fintech sector throughout the country.

    KPMG Singapore’s Head of Financial Services Advisory Anton Ruddenklau thinks that Singapore attracted investors that were previously looking into China, but are pushed away because of the crypto bans.

    “Singapore and India could be big winners on the investment front as investors and companies that might have gone to China look for opportunities elsewhere in the region.”