Bitcoin Corrects After Hitting USD 55K, Ethereum And Altcoins Supported
Bitcoin value prolonged its rise above the USD 55,000 resistance zone. BTC even spiked above USD 55,000 earlier than it began a draw back correction. It’s presently (05:30 UTC) holding features above USD 53,000 and there are possibilities of a contemporary improve above USD 54,500.
Equally, most main altcoins are buying and selling above key helps. ETH surged in direction of the USD 1,880 resistance degree earlier than there was a USD 100 dip. XRP/USD failed to check the USD 0.495 and USD 0.500 resistance ranges.
Complete market capitalization
There was an upside extension in bitcoin price above the USD 54,500 and USD 55,000 resistance ranges. BTC even broke USD 55,500, nevertheless it did not proceed larger in direction of the USD 56,000 degree. It began a draw back correction and traded under the USD 55,000 degree. Nonetheless, the bulls are defending the USD 53,000 and USD 52,800 assist ranges.
If there’s a contemporary improve, the value would possibly clear the USD 54,500 and USD 55,000 resistance ranges. The subsequent main resistance is close to the USD 56,200 degree.
Ethereum price additionally gained tempo above the USD 1,800 resistance. ETH even cleared USD 1,850 and it examined the USD 1,880 zone. Just lately, there was a draw back correction under the USD 1,820 assist. The bulls at the moment are defending the USD 1,775 assist. The subsequent main assist is close to the USD 1,720 degree.
On the upside, a contemporary shut above the USD 1,800 and USD 1,825 ranges might presumably spark a transfer in direction of the USD 1,880 and USD 1,900 ranges.
Binance Coin (BNB) began a robust improve above the USD 250 resistance. BNB surged over 10% and it even cleared the USD 275 resistance. The bulls tried a break above USD 300, however they failed. Because of this, there was a draw back correction under USD 285, however the value is holding regular above USD 270.
Cardano (ADA) broke the USD 1.200 resistance and examined USD 1.220 earlier than correcting decrease. ADA is now testing the USD 1.150 assist, under which it may take a look at USD 1.115. On the upside, the USD 1.200 and USD 1.220 ranges are necessary hurdles.
Litecoin (LTC) broke the USD 200 resistance, however there was no correct day by day shut above USD 200. LTC is now correcting under USD 200 and buying and selling above USD 192. The subsequent main assist is close to the USD 185 degree, under which the bears would possibly goal for a take a look at of the USD 175 degree.
XRP price failed to check the USD 0.495 and USD 0.500 resistance ranges. The worth is now declining and it looks as if it may revisit the USD 0.450 assist. Any extra losses would possibly put stress on the bulls and the value may take a look at USD 0.420.
A number of altcoins gained over 8%, together with MATIC, AVAX, NPSX, RVN, KSM, NEAR, THETA, LUNA, CHZ, and CAKE. Out of those, MATIC rallied over 30% and it cleared the USD 0.280 degree.
General, bitcoin value is correcting features from effectively above USD 55,000. Nonetheless, BTC would possibly stay steady above USD 52,000 and it may even begin a contemporary improve within the close to time period.
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Source: cryptocoinerdaily.com
Contents
- Ethereum Dips Below $1,800, Why Bulls Are Still In Control – Cripto News World
- Ethereum Gold Market Cap Tops $221,780.68 (ETG)
- AMD Could Release Its Own Crypto GPU to Mine Ethereum to Calm Down the Skirmish Between Miners and Gamers – Mining Bitcoin News
- Ethereum Takes the Show
- AMD Could Release Its Own Crypto GPU to Mine Ethereum to Calm Down the Skirmish Between Miners and Gamers – Mining Bitcoin News
Ethereum Dips Below $1,800, Why Bulls Are Still In Control – Cripto News World
Ethereum climbed further above the $1,800 and $1,850 resistance levels against the US Dollar. ETH price is correcting gains, but it is likely to find bids near $1,725.
Ethereum is following a bullish path and it was able to clear the $1,850 resistance, similar to bitcoin. ETH traded to a new monthly high near $1,880 and settled well above the 100 hourly simple moving average.
Recently, it corrected lower and traded below the $1,825 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $1,649 swing low to $1,882 high. Ether price is now trading below $1,800, but it is still well above the 100 hourly simple moving average.
It is testing the $1,765 support zone. There is also a key bullish trend line forming with support near $1,775 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $1,649 swing low to $1,882 high.
Source: ETHUSD on TradingView.com
On the upside, the $1,800 level is a short-term resistance. The first major resistance is near the $1,825 level. A clear break above the $1,825 and $1,850 levels could open the doors for a move towards the $1,880 and $1,900 levels.
If Ethereum fails to resume higher above the $1,800 and $1,825 resistance levels, it could correct further lower. The first key support is near the trend line at $1,865.
The main support is now forming near the $1,725 level and the 100 hourly simple moving average. If there is a downside break below the $1,725 support, ether price might decline towards the $1,650 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 level.
Major Support Level – $1,725
Major Resistance Level – $1,825
Source: criptonewsworld.com
Author: Editor’s Choice
Ethereum Gold Market Cap Tops $221,780.68 (ETG)
Ethereum Gold (CURRENCY:ETG) traded 7.1% higher against the U.S. dollar during the 1-day period ending at 20:00 PM Eastern on March 9th. In the last seven days, Ethereum Gold has traded down 58.9% against the U.S. dollar. Ethereum Gold has a market capitalization of $221,780.68 and approximately $35.00 worth of Ethereum Gold was traded on exchanges in the last 24 hours. One Ethereum Gold token can now be bought for $0.0110 or 0.00000020 BTC on popular exchanges.
Here is how other cryptocurrencies have performed in the last 24 hours:
Ethereum Gold Token Profile
Ethereum Gold (CRYPTO:ETG) is a token. It was first traded on October 11th, 2017. Ethereum Gold’s total supply is 24,000,000 tokens and its circulating supply is 20,199,973 tokens. The official message board for Ethereum Gold is medium.com/@amandaETG. Ethereum Gold’s official Twitter account is @ethereumgoldetg and its Facebook page is accessible here. The Reddit community for Ethereum Gold is /r/ethereum and the currency’s Github account can be viewed here. The official website for Ethereum Gold is www.etgproject.org.
Buying and Selling Ethereum Gold
It is usually not possible to buy alternative cryptocurrencies such as Ethereum Gold directly using US dollars. Investors seeking to acquire Ethereum Gold should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Ethereum Gold using one of the aforementioned exchanges.
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Source: www.dispatchtribunal.com
Author: Erica Schwartz
AMD Could Release Its Own Crypto GPU to Mine Ethereum to Calm Down the Skirmish Between Miners and Gamers – Mining Bitcoin News
A U.S. multinational semiconductor company could be preparing the ground to release its own series of cryptocurrency mining processors. AMD is reportedly looking to introduce a GPU for mining Ethereum.
According to PC Gamer, the AMD Navi 12, a graphic processing unit (GPU) first introduced exclusively for Apple Macbook Pro devices, could be the first crypto mining-related specific processor launched by the company. In fact, the new version of the card lacks video outputs.
It implies that the Navi 12 GPU won’t support VCN (video core next), a requirement for PC gaming purposes, and making it the proper candidate for crypto mining. Per the report, the card is expected to have the capability to mine Ethereum (ETH).
If the maneuver becomes a reality, PC Gamer suggests that AMD could be seeking to keep gaming GPUs “in the hands of gamers” and not being used for crypto mining purposes.
The possible release of an exclusive crypto mining AMD GPU comes in the wake of Nvidia recently launching a processor to mine ETH.
However, as news.Bitcoin.com reported on February 22, 2021, Nvidia announced that it would start limiting the efficiency of mining ethereum or any other crypto using its new range of GPUs.
Both multinational companies’ rhetoric is in the same line regarding keeping gaming cards for gamers, as the skirmish between miners and gamers is a long-lasting one. Such “war” has boosted the GPU prices significantly in the market, arousing the anger of gamers who struggled to find cheaper cards.
With the current crypto bull-run, mining activity has increased. Moreover, it forced companies like AMD and Nvidia to decide on launching exclusive products for crypto miners.
Recently, a regional report from China indicated that bitcoin (BTC) application-specific integrated circuit (ASIC)-integrated mining rig manufacturers have seen a massive surge in demand since the leading crypto asset price skyrocketed.
What do you think about this report on a possible AMD card designed exclusively for crypto mining purposes? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Source: cnots.com
Ethereum Takes the Show
Ethereum’s ratio has finally recovered, rising by some 20% over the past week from a low of 0.03 BTC to above 0.035 before swinging to 0.033.
For the past two days ethereum has been clearly leading, rising considerably while bitcoin stood still, with bitcoin usually following.
This change coincides with the approval of EIP1559 this Friday. That ends what was a mini-debate in ethereum and brings about a halvening of sorts this summer.
Ethereans now daily pay miners as much in fees as in block rewards and on some days, like the one highlighted above, they pay not far off from 3x more in fees than in block rewards.
The new EIP burns these fees, with the network itself calculating what should be the fee based on a target of 50% capacity.
In addition it makes network spamming uneconomic for miners because they too will be paying to use the network.
Just this February and by a rough calculation, some 400,000 eth would have been burned in fees if the EIP was live. That’s 0.5% of the total supply.
As these fees that use to go to miners now just vanish, once the EIP is implemented in July, you’d think significant sell pressure from miners would be taken out of the market.
Thus understandably ethereum’s valuation is seemingly changing with the market re-adjusting to take into account this new halvening, hence the ratio gain.
In combination, some bullishness seems to have returned to defi with Uniswap up to $33 from a low of $20 at the beginning of this month.
A number of these defi dapps are now moving to second layers to add magnitudes more capacity, something that should bring significant growth once implemented.
Finally the NFT boom is directly benefiting eth because all of these unique tokens are priced in eth, thus some might want eth just to buy the tokens.
All of this has led to a rise in eth’s price for the past two days, with ethereum finally taking the show once more and seemingly leading the whole crypto space at least for now.
Source: www.trustnodes.com
AMD Could Release Its Own Crypto GPU to Mine Ethereum to Calm Down the Skirmish Between Miners and Gamers – Mining Bitcoin News
A U.S. multinational semiconductor company could be preparing the ground to release its own series of cryptocurrency mining processors. AMD is reportedly looking to introduce a GPU for mining Ethereum.
According to PC Gamer, the AMD Navi 12, a graphic processing unit (GPU) first introduced exclusively for Apple Macbook Pro devices, could be the first crypto mining-related specific processor launched by the company. In fact, the new version of the card lacks video outputs.
It implies that the Navi 12 GPU won’t support VCN (video core next), a requirement for PC gaming purposes, and making it the proper candidate for crypto mining. Per the report, the card is expected to have the capability to mine Ethereum (ETH).
If the maneuver becomes a reality, PC Gamer suggests that AMD could be seeking to keep gaming GPUs “in the hands of gamers” and not being used for crypto mining purposes.
The possible release of an exclusive crypto mining AMD GPU comes in the wake of Nvidia recently launching a processor to mine ETH.
However, as news.Bitcoin.com reported on February 22, 2021, Nvidia announced that it would start limiting the efficiency of mining ethereum or any other crypto using its new range of GPUs.
Both multinational companies’ rhetoric is in the same line regarding keeping gaming cards for gamers, as the skirmish between miners and gamers is a long-lasting one. Such “war” has boosted the GPU prices significantly in the market, arousing the anger of gamers who struggled to find cheaper cards.
With the current crypto bull-run, mining activity has increased. Moreover, it forced companies like AMD and Nvidia to decide on launching exclusive products for crypto miners.
Recently, a regional report from China indicated that bitcoin (BTC) application-specific integrated circuit (ASIC)-integrated mining rig manufacturers have seen a massive surge in demand since the leading crypto asset price skyrocketed.
What do you think about this report on a possible AMD card designed exclusively for crypto mining purposes? Let us know in the comments section below.
AMD, crypto mining, ETH, ETH Price, ether, Ethereum (ETH), Ethereum mining, GPU, GPU manufacturers, GPU Miners, Graphic processing units (GPUs), Nvidia
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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Source: news.bitcoin.com
Author: Mining
by
Felipe Erazo
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