This week Ethereum's London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100. Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in and pushed its price back above $2,800, its highest level since June 7. This bullish momentum extended further after Bitcoin price surged above $44,000 and at the time of writing Ether trades at $3,050. Now that the network is operating smoothly following its biggest …

Bitcoin’s (BTC) price reached as high as $44,600 on Saturday, the highest level since before the infamous May 19 crash. Meanwhile, there are increasing speculations that BTC could undergo a similar upside boom like the one that began in October 2020. At least two indicators expect Bitcoin to pursue massive uptrends. The first one is Glassnode’s entry-adjusted Net Unrealized Profit/Loss (NUPL), assists investors in determining whether the Bitcoin network as a whole is currently in a state of profit or loss. Understanding NUPL and its heat map An NUPL reading above zero indicates that the network is in a state …

Ethereum’s native asset, Ether (ETH), crossed above $3,000 in an extended upside rally on Saturday, hitting a three-month high. Nevertheless, the cryptocurrency’s incredible move upward also boosted its possibilities of facing a bearish backlash. An on-chain indicator that tracks the total percentage of Ethereum addresses in profits predicted the said downside outlook. In detail, the so-called “Ethereum: Percent of Addresses in Profits” indicator by Glassnode reached 96.4% amid the ETH/USD price rally. Lex Moskovski, chief investment officer of Moskovski Capital, highlighted the metric’s capability of predicting Ether’s top. In hindsight, whenever the Glassnode indicator crossed the 90%-threshold, it resulted in …

Bitcoin’s (BTC) price rallied to a multi-month high at $43,231 on Friday, which allowed the digital asset to break free of the trading range it had been stuck in since May. Data from Cointelegraph Markets Pro and TradingView shows that after trading sideways through the early morning hours on Friday, bulls staged a rally that lifted the price of Bitcoin to an intraday high at $43,231 — its highest level since May 19. Throughout the week, several analysts suggested that a rally higher was in the works because several indicators flashed bullish signals, including a cross-over between two moving averages …

A crossover between two Bitcoin (BTC) moving averages that appeared before the 2020 price boom is hinting at making a return in 2021, just as the flagship cryptocurrency eyes a bullish breakout from its current $30,000–$40,000 trading range. The indicators in focus are the MACD Line and Signal Line. MACD is an acronym for Moving Average Convergence Divergence, and a MACD Line represents the difference between the 12- and 26-period moving averages. Meanwhile, a Signal Line is a nine-period moving average. Plotting the MACD Line and Signal Line together forms the so-called MACD Indicator, which allows traders to predict future …

Bitcoin (BTC) and Ether (ETH) are due for a “huge” move, but short-term signals suggest a correction, an analyst warned on Friday. Buy into resistance? “Not interested” Data from Cointelegraph Markets Pro and TradingView showed both BTC/USD and ETH/USD acting near critical range resistance as the week drew to a close. A late surge the day before punctuated an overall downtrend after swift upside throughout the previous week, but Friday reinforced the idea that longer-term resistance would remain in place. In his latest video update, Cointelegraph contributor Michaël van de Poppe highlighted an area above $42,500 as necessary to reclaim …

Crypto investors are seeing gains in Ether (ETH) and Bitcoin (BTC) on Aug. 5 after the successful launch of Ethereum's London hard fork and a series of new Bitcoin exchange-traded fund filings, resulting in a rally that propelled BTC's price 9% higher and caused Ether to gain 11.75%, which pushed the altcoin closer to the elusive $3,000 level. Data from Cointelegraph Markets Pro and TradingView shows that after an early morning sell-off that saw BTC fall to $37,280, the bulls stepped in, and the ensuing high volume spike sent BTC price to an intraday high of $40,775. Recent comments from …

Demand for Aave has boomed dramatically in the previous 24 hours as traders assessed its involvement in Bitwise Investment’s upcoming institutionally focused investment vehicle. The San Francisco-based asset management firm announced Wednesday that it would invest directly in Aave to back its “Bitwise Aave Fund,” a fund created to build a bridge between accredited investors and the emerging decentralized finance (DeFi) sector. “There is growing demand from financial advisors, hedge funds, institutions, and other professional investors for exposure to the fast-growing DeFi markets,” Matt Hougan, chief information officer of Bitwise, said in a press release, adding that the investment products …

Optimism from bulls is the leading sentiment of the day after Bitcoin’s (BTC) price made its way back toward the psychologically important $40,000 level. In addition to the reversal from this week’s local low at $37,500, Gary Gensler, the Chair of the United States Securities and Exchange Commission, issued positive comments about the crypto industry and reaffirmed the goal of ironing out fraud in the ecosystem. Now that Bitcoin’s price appears to be back on the path to $40,000, here’s what analysts and traders are saying about the top cryptocurrency. Traders are waiting for $40,000 to flip from resistance to …

The price of Axie Infinity's native token AXS surged on Wednesday despite a lackluster upward momentum elsewhere in the cryptocurrency market. The AXS/USD pair rose to as much as $44.96 following a 16.44% intraday jump. Nonetheless, the strong upside move came as a part of a sideways trend that saw AXS fluctuating inside the $36.48-$56.57 price range, hinting that traders placed speculative upside bets on the token. Axie ecosystem swells Axie Infinity's growth as a gaming project provided bullish cues to speculators. Data provided by Axie World showed that Axie Infinity earned $196.89M in July 2021. Meanwhile, so far in …

A recent run-down in the United States Dollar Index (DXY) stopped midway as investors awaited U.S. job data for a guide on the viewpoint for interest rates. Meanwhile, Bitcoin (BTC) moved inversely to the greenback. The DXY rose to its intraday high of 92.195 on Wednesday, up 0.45% from its Friday low of 91.782. The move upside took the index back above its 200-day exponential moving average (200-day EMA; the pink tide in the chart below), at 92.001. The wave was instrumental in protecting the index from aggressive declines in June, serving as support. Meanwhile, a break above the 200-day …

While Bitcoin’s (BTC) price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Monda, some analysts anticipate that it can rise by another 100%. Nunya Bizniz, an independent market analyst, posted the bullish setup on Sunday, noting that each of the cryptocurrency’s previous 10-day bull runs has ended up doubling its prices at a later stage. Therefore, if history repeats or rhymes, Bitcoin’s price can go up by more than 100% in the next 30–60 days. Bizniz noted that the …