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– What is Bitcoin❓
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Bitcoin Price Analysis: BTC Recovers to $20K, Was Local Bottom Confirmed?. Technical Analysis By Shayan Shayan. Technical Analysis by Shayan. Bitcoin’s price ranges at the significant support level of $17-20K. The 50-day moving average line and mid-trendline are the main barriers on the way up. The price would still need to break above the $32K level to start considering a bullish reversal. After a boring mid-term consolidation, the price has entered an expansion phase. The chart below shows a descending channel pattern at the $17K – $20K support region. If the price bounces off the third touch of the lower boundary and breaks the pattern to the upside, a short-term rally will likely be initiated.
ETH Price Analysis: The Level That’s Likely to Be Ethereum’s Potential Reversal Zone. Technical Analysis By Grizzly. Technical Analysis by Grizzly. Grizzly is a technical analysis of the world’s largest animal. ETH has reached a support zone lastly tested on January 2021. Despite the severe drop, of over 30% this week alone, the bearish momentum is still high. If a reversal plays out, we can expect the price to increase and retest the horizontal resistance at $1300. ETH price of ETH against BTC fluctuates between 0.05 BTC and 0.055 BTC over the past ten days. The area considered Potential Reversal Zone is in the range of 0.045 BTC. ETH price can be reversed when buyers are finally able to push price above the horizontal resistance at 0.064 BTC.
Do Kwon and Terraform Labs Sued for Misleading Investors. Lawsuit alleges Terraform Labs and founder Do Kwon violated federal securities laws with sale and promotion of UST and LUNA tokens. Plaintiff Nick Patterson filed suit in Northern California on Friday in US District Court. Lawsuit also focused on Kwon’s controversial behavior prior to the collapse of the tokens, including mocking people who had criticized the algorithmic nature of the UST peg. UST/LUNA implosion last month caused a market-wide panic that led to a crash among all cryptocurrencies.
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