Bitcoin Price Advances Again: Can Bulls Push It Even Higher?

  vor 6 Minuten

Bitcoin price is gaining pace above $75,000. BTC is rising and might aim for a move above the $77,000 resistance zone in the near term. Bitcoin started a fresh surge above the $74,500 zone. The price is trading above $74,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $76,200 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price started a fresh increase above the $74,500 level. BTC cleared the $75,000 resistance and traded to a new all-time high. It posted a high at $76,937 and is currently consolidating gains. There was a minor decline below the $76,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. However, the price is still in a positive zone above the $75,000 level. Bitcoin price is now trading above $75,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $76,000 level. The first key resistance is near the $76,200 level. A clear move above the $76,200 resistance might send the price higher. The next key resistance could be $78,000. A close above the $78,000 resistance might initiate more gains. In the stated case, the price could rise and test the $78,800 resistance level. Any more gains might send the price toward the $79,450 resistance level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $76,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $75,450 level and the trend line. The first major support is near the $74,350 level or the 61.8% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. The next support is now near the $73,750 zone. Any more losses might send the price toward the $72,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $75,450, followed by $74,350. Major Resistance Levels – $76,000, and $76,200.

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Crypto Power Surge: Over 280 Pro-Crypto Allies Secure US Congress Seats

  vor 16 Minuten

A pro-crypto Congress takes shape as more than 280 newly elected crypto-friendly allies promise to drive bold reforms, fueling momentum for a decentralized financial future. A New Congress Emerges, Driven by Crypto Voters and Rising Influence The U.S. cryptocurrency industry saw major successes in this week’s elections, with over 280 pro-crypto candidates winning congressional seats

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Ethereum L2 Project Spark Launches On-Chain Order Book On Fuel Network To Enhance Trading

  vor 16 Minuten

Spark, a decentralized trading protocol, announced the first fully on-chain order book for the Ethereum ecosystem. Launching on Fuel Network, the project aims to provide solutions for some of the limitations in the Decentralized Finance (DeFi) landscape and offer traders fast, secure, and transparent trading with minimized state and reduced storage. Related Reading: Solana (SOL) Looks ‘More Bullish Than Before’ After Flipping BNB As 4th Largest Crypto Spark Brings First On-Chain Oder Books To The Ethereum Ecosystem Decentralized trading protocol Spark is launching the Ethereum ecosystem’s first fully on-chain order book, seeking to offer traders a “secure, efficient, and decentralized” experience. Per the announcement, the state-minimized order book will move execution fully on-chain to enhance transparency. Moreover, it’s set to reduce data storage and processing needs to ensure faster transactions without compromising security. The Ethereum L2 project aims to address the limitations of Automated Market Makers (AMMS) and Centralized Exchanges (CEXs). Despite being instrumental in DeFi’s growth, AMMs struggle to meet the “advanced demands of institutional traders in high-frequency and algorithmic trading.” Meanwhile, CEXs have been criticized for the lack of transparency and control expected in decentralized systems. The project argues that DeFi needs to use traditional trading mechanisms to attract institutional traders. As a result, Spark will introduce Central Limit Order Books (CLOBs) to tackle these limitations. CLOBs are trading mechanisms used in traditional stock markets to match all bids and offers according to time priority and price. With this implementation, Spark is set to provide better price discovery, faster execution, and deeper liquidity while maintaining security and transparency. Additionally, it seeks to offer “the precision and capabilities necessary for professional and institutional traders.” Vitali Dervoed, Spark’s CEO and co-founder, highlighted the importance of order books for institutional and retail traders who seek accuracy and transparency while controlling their assets: Order books are the backbone of professional, institutional, and advanced retail traders who rely on precise execution and transparency. Spark’s shift to on-chain trading represents a significant leap in eliminating the trade-offs associated with off-chain systems. With full visibility into order depth and liquidity, users are protected from risks like front-running and manipulation while enjoying the security of self-custody. Unlike centralized exchanges, Spark ensures users have complete control over their assets, making it an ideal platform for traders prioritizing security, transparency, and efficiency. A ‘New Era’ For Decentralized Trading? Launched in October, Fuel is a modular rollup operating system designed for Ethereum. After three weeks, it achieved a Total Value Locked (TVL) of $33.5 million. According to data from DeFiLlama, Fuel saw a 700% TVL increase in one day, followed by a 1200% weekly increase. Spark is one of the first dApps in the Fuel Network. The Ethereum Layer 2 project is powered by Fuel’s modular architecture, aiming to “push DeFi closer to mainstream adoption” with speed, scalability, and interoperability. Related Reading: Shiba Inu (SHIB) Gearing Up For Massive Bullish Wave Following 8% Daily Surge, 110% Rally Ahead? The projects look to build a “new era for decentralized trading” that unlocks “new possibilities for institutional-grade DeFi” and evolves the Ethereum landscape. Ultimately, Fuel Network’s CEO, Nick Sway, noted Spark’s launch as a vehicle to “push” DeFi boundaries: Fuel’s mission is to foster an environment where builders can push the boundaries of DeFi, and Spark is a testament to this vision. By leveraging Fuel’s powerful high-performance design, Spark introduces a new level of transparency and efficiency to decentralized finance through on-chain order book trading, setting a new benchmark for scalability and precision. Featured Image from pexels.com, Chart from TradingView.com

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Ethereum Foundation Launches Mekong Testnet to Prepare for Upcoming Upgrade

  vor 40 Minuten

The Ethereum Foundation launched the Mekong testnet for the Pectra upgrade. ETH price has increased significantly, targeting $4,000. Continue Reading: Ethereum Foundation Launches Mekong Testnet to Prepare for Upcoming Upgrade The post Ethereum Foundation Launches Mekong Testnet to Prepare for Upcoming Upgrade appeared first on COINTURK NEWS .

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