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XRP price extended losses below the $0.5220 support zone. It tested the $0.5120 support and now attempting another recovery wave toward $0.550. XRP is struggling to start a fresh increase above the $0.5320 resistance zone. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if the price stays below $0.5320. XRP Price Dips Further XRP price remained in a short-term bearish zone like Bitcoin and Ethereum. The bears were able to push the price below the key support at $0.5220. Finally, the price tested the $0.5120 support zone. A low was formed at $0.5126 and the price is now attempting a fresh recovery wave. There was a move above the $0.5165 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5406 swing high to the ...

AVAX price is gaining pace above the $36.50 resistance. Avalanche could rise further if there is a clear move above the $40.00 resistance zone. AVAX price is moving higher from the $30.50 support zone against the US dollar. The price is trading above $35.00 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $34.00 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $36.30 and $35.50 support levels. AVAX Price Aims Higher After a steady decline, Avalanche’s AVAX found support near the $30.50 zone. A low was formed near $30.58, and the price started a fresh increase, like Bitcoin and Ethereum. The price gained over 10% and broke many hurdles near $35.00. There was a break above a key bearish trend line with resistance at $34.00 on the 4-hour chart of the AVAX/USD pair. The pair even cleared the 50% Fib retracement level...

Investors in the cryptocurrency space are eagerly awaiting the halving of Bitcoin in order to fuel future market growth. However, top cryptocurrency expert and trader Benjamin Cowen cautions that if the price of BTC follows a previous pattern, there may be a correction. Bitcoin Halving Could Impact Price Negatively Cowen has highlighted a trend that could potentially lead to a significant decline in the crypto asset’s price when the Bitcoin halving event commences, which suggests that BTC could be poised for a decline in the coming days. Related Reading: Bitcoin Final Dance: Analyst Eyes Final Peak Ahead Of Halving According to Cowen, should Bitcoin continue to follow the same trajectory as it entered the spot ETF during the halving, BTC may witness a trend toward the downside. The crypto expert advocates that these patterns typically do not repeat precisely. However, he believes putting the idea out there is crucial in case it happens again in...

Despite a surge in Ether gas prices in May, NFT marketplaces only accounted for 3% of the entire Ethereum gas consumption. Ethereum gas consumption by nonfungible tokens (NFTs) has dropped significantly since its high in 2021. NFT marketplaces and projects that occupied top spots in gas consumption at the time have declined sharply in the past two years. Data shared by the on-chain analytics platform Glassnode shows that gas usage by NFT marketplaces is currently on a downward trend . This indicates a possible shift in terms of NFT use, where more users may be opting to hold on to their assets instead of trading them on marketplaces. Etherscan’s top 10 contracts or accounts consuming gas on Aug. 4, 2021. Source: The Wayback Machine In 2021, NFTs were leading the charts in terms of Ethereum gas usage, according to blockchain explorer Etherscan. On Aug. 4, 2021, NFT gaming project Axie Infinity placed second in terms of gas usage due to its Ronin bridge, which transfers assets from ...

It's all about a sea of Bitcoin resistance around $25,000 as the week draws to a close, but some favor the good times continuing. Bitcoin (BTC) climbed back above $24,000 at the Feb. 17 Wall Street open as Analysis favored “consolidation and continuation” higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin faces key level to "break" bear trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering some overnight losses after dipping to $23,369 on Bitstamp. The pair had hit fresh six-month highs the day prior, these facing stiff resistance in the form of two weekly moving averages (MAs) and a heavy sell wall. BTC/USD 1-week candle chart (Bitstamp) with 200MA. Source: TradingView Scott Melker, the trader and podcast host known as “The Wolf of All Streets,” stressed the importance of level s acting as lines in the sand for bulls. “$25,212. I've been screaming about this number for weeks. A break above (ideally close) makes...