Ethereum is coming into support, while finishing a correction
Ethereum with ticker ETHUSD is coming even lower as we have been warning in the past contents. We see ETH still in a deeper downward complex correction, ideally a flat correction, which can be now in final stages, as we see it trading in wave 5 of wave (C) of an (A)-(B)-(C) corrective decline. It means that there can still be a recovery from the near-term support.1500 area around the 61.8% certainly looks very interesting for completion of a five-wave drop in wave (C) wave. It's actually already in 5th of (C), so once current wave 5 of (C) fully unfolds, this is when support can be in place. A rise back above 1745 level would confirm the bullish turn.
Cardano price plummets despite rise in development activity and transaction volume, why?
Cardano (ADA) price has been on a downtrend since September 2021, with no meaningful attempts to break higher. This persistent southbound move is accompanied by a steady rise in transaction volume and a steep rise in development activity.
Cardano price is currently trading at $0.2477, attempting to form a bottom above the key support level at $0.2500. This barrier has supported downward trending ADA not once but twice in the last eight months, with the current retest being the third.
Alameda Research's balance history on FTX confirms death blow happened during LUNA collapse, expert says
Alameda Research's balance history on its sister firm and cryptocurrency exchange, FTX, confirms that the hedge fund's death blow goes back to May 2022, when the Terra Luna ecosystem imploded. This is the opinion of Twitter user Will Clemente, a renowned crypto analyst and the founder of digital asset investigator Reflexivity Research.
Clemente’s comments came ahead of the Omnibus Hearing, set for September 13, with the researcher going through the Government exhibit showing Alameda's balance history on FTX. Recording up to $12 billion within a span of less than two months to May, the analyst says, "Death blow to Alameda was LUNA."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Three Arrows Capital demands $1.5B increase in the FTX lawsuit
Liquidators managing Three Arrows Capital's (3AC) bankruptcy have filed a motion to raise their claim against FTX from $120 million to $1.53 billion. Bloomberg reports that FTX allegedly liquidated and seized around $1.33 billion in assets from the hedge fund to settle debts just two weeks before 3AC’s collapse.
Missing crypto influencer Kevin Mirshahi found dead in Montreal Park
Authorities report that the remains of Kevin Mirshahi, a prominent crypto influencer who was abducted in June, have been found in a Montreal park. Local police informed “The Gazette” that a passerby found the grim discovery on October 30 in Île-de-la-Visitation Park.
XRP struggles near $0.7440, could still sustain rally after Robinhood listing
Ripple's XRP open interest has declined by over 10% in the past 24 hours. Robinhood's listing of XRP could serve as a catalyst for renewed demand. XRP continues to struggle near historically strong resistance after sustaining another rejection at $0.7440.
Dogecoin price forecast: Miners offload $240M as DOGE approaches risk zone
After reaching a three-year peak of $0.43 on November 12, Dogecoin price wobbled 13% to find support at the $0.38 level on Wednesday. Miners capitalized on Trump’s recent D.O.G.E confirmation statement to offload 620 million DOGE in the last three days.
Bitcoin: Further upside likely after hitting new all-time high
Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.