Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term risk setups sold the Ether top to secure interim profits, leading up to a modest downside correction. On Monday, Ether prices rose 1.81% to $2,600 to offset the Sunday sell-off risks. …

Cardano is close to attaining the title of a fully-fledged smart contracts platform following a critical upgrade in mid-July. The project's founder Charles Hoskinson confirmed that they recently processed the sales of more than $10 million worth of non-fungible tokens atop their public ledger. Moreover, SundaeSwap, the first DeFi DEX to utilize Cardano smart contracts is expected to launch soon, and many ADA investors interpret this as a potential bullish catalyst for the altcoin. But the Ethereum rival's growth as a project might not lead to higher adoption for its native cryptocurrency, ADA, at least according to an analysis shared …

The rumor that Amazon would accept cryptocurrency payments sparked a wave of bullish enthusiasm across the crypto market earlier in the week, but now this sentiment has begun to wane as Bitcoin (BTC) bulls face stiff resistance at the $40,000 level. Data from Cointelegraph Markets Pro and TradingView shows that bears have fended off multiple attempts to flip the $40,000 level to support, and defense of this zone continued on July 29 as Bitcoin's stagnant price action and added to concerns that the price could fall back to last week's $35,000 to $30,000 range. Here’s what analysts and investors are …

The wider cryptocurrency market entered a period of consolidation on Tuesday following Bitcoin’s (BTC) brief spike above $40,000 the day before, which helped ignite a rally across the market and brought a renewed sense of optimism to the market. Data from Cointelegraph Markets Pro and TradingView shows that a mid-day attempt by bulls to lift the price of BTC back above the $40,000 level was rejected, resulting in a price pullback to $37,500. While Tuesday’s price pullback may suggest that Monday’s rally was simply a short squeeze, others point to the rising Grayscale Bitcoin Trust (GBTC) premium, which is now …

Bull market optimism returned to the cryptocurrency market on Monday after Bitcoin’s (BTC) price rallied above the $40,000 level for the first time in over six weeks. Monday’s rally to $40,581 was a continuation of Sunday’s breakout that saw BTC’s price rocket to $48,110 on Binance after a short squeeze resulted in nearly $500 million in shorts being liquidated in just two minutes. Data from Cointelegraph Markets Pro and TradingView shows that BTC spiked to an intraday high at $40,581 on Monday before pulling back to $37,500 as bulls looked to flip this resistance zone back to support in preparation …

Bitcoin (BTC) touched $40,370 on July 26 as a solid day of gains saw the return of a major price milestone. BTC price daily gains near 20% Data from Cointelegraph Markets Pro and TradingView showed BTC/USD touching $40,400 before consolidating nearby later in the day. The pair had held on to previous gains from the night before throughout the day, circling $38,000 before another surge took hold after the the Wall Street open. Amid some understandable excitement from investors who had waited for upside to finally resume, Cointelegraph contributor Michaël van de Poppe cautioned against being overly bullish at current …

The price of Ether (ETH) jumped to a three-week high on Monday, triggered by similar gains in the Bitcoin (BTC) market that appeared in the wake of rumors about Amazon’s foray into the cryptocurrency sector. A job posting from the retail giant showed that it is seeking an executive to build its “digital currency and blockchain strategy.” Meanwhile, global media reports have been speculating, based on inside sources that Amazon would start accepting Bitcoin as payments. As a result, the BTC/USD exchange rate surged to its six-week high after the news. Ether, whose 30-day correlation with Bitcoin stands at 88%, …

A four-day winning streak brought the Bitcoin (BTC) prices closer to testing its 50-day exponential moving average (~$35,115) as resistance. The wave, which was instrumental in strengthening Bitcoin's bullish bias across 2020 as support, flipped to become a resistance during the May 2021 sell-off. In doing so, it capped the cryptocurrency from extending its upside rebound moves many times. For instance, Bitcoin's drop from $56,900 to $30,000 in mid-May prompted bulls to buy the dip. As a result, the cryptocurrency shot back above $40,000 but found its bullish momentum exhausting right near the 50-day EMA. The scenario repeated multiple times …

Bitcoin (BTC) has a better probability of recovering back to $60,000 than breaking below its current support level of $30,000 to target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. A screenshot from McGlone's latest analysis on the flagship cryptocurrency, first shared by Bloomberg senior ETF analyst Eric Balchunas, shows him comparing Bitcoin's ongoing price action with the "too-cold" period of the 2018–2019 trading session. In detail, the BTC/USD exchange rate entered a prolonged consolidation period near $4,000 following an 80%-plus crash in 2018, but a sudden run-up in 2019 sent its prices to as high as $14,000 …

The price of Axie Infinity’s native token, AXS, more than doubled in just three days of trading amid speculation that it is going to revolutionalize the blockchain-enabled gaming industry forever. The AXS/USD exchange rate reached a record value of $32.69 on Friday, up 31.28% intraday, and about 131% from its Tuesday low of $14.09. That placed the pair in the list of best-performing digital assets on a year-to-date timeframe; its 2021 gains are now above 5,000%. Axie Infinity’s massive upside moves appeared due to its rising popularity as a play-to-earn gaming service. In detail, the Ethereum-enabled blockchain project is a …

Ethereum’s native cryptocurrency, Ether (ETH), rebounded sharply on Thursday after Elon Musk disclosed for the first time that his private rocket firm, SpaceX, holds Bitcoin (BTC) and that Tesla would probably resume the Bitcoin payments option for its electric cars. The BTC/USD exchange rate was below $30,000 but bounced by more than 5% after the big reveal, touching an intraday high of $32,895. Ether, which tends to move in lockstep with Bitcoin, surged likewise. It reclaimed $2,000 on Wednesday, rising by as much as 18.20% from its week-to-date low of $1,720. Lukas Enzersdorfer-Konrad, chief product officer of financial services company …

Anish Saxena, a New Delhi-based automobile dealer, made “incredible” profits by investing in cryptocurrencies in 2020, just as his business took a hit from the coronavirus pandemic-induced lockdown. “I had known about Bitcoin and Ethereum and dozens of other assets for years,” the 33-year old businessman said. “But I only got to invest in them after the lockdown pushed me and my family members out of work. And it helped us survive — big time.” Saxena revealed that he had allocated about 80% of his investment portfolio to Bitcoin (BTC) and Ether (ETH), with the rest of his capital distributed …