Bitcoin and Ethereum Analysis and Updates | March 15-18

byZero Gravity/March 18, 2022/inCrypto Market Updates, Crypto News, News

The latest news stories from the crypto world, as well as, market and technical analysis of leading cryptocurrencies including Bitcoin and Ethereum.

Market Analysis

In the last three days, the global crypto market cap is up by approximately 6%, while the Total Value Locked (TVL) in Decentralized Finance is up by ~4%. Though the market was expecting a negative impact on the cryptocurrencies because of the much-anticipated FEDs rate hike.

The Federal Open Market Committee(FOMC) announced the first rate increase in interest rate from 0.25% to 0.5% range. It is the biggest hike since 2018, which the FED body reasoned with the high inflation rates affecting the United States dollar. Similarly, Bitcoin, Ethereum, and other cryptocurrencies experienced a low-to-zero price change.

Bitcoin Analysis

Bitcoin is hovering below the $41,500 resistance level and is currently moving downwards after it declined below the crucial $41,000 level. It traded below the 23.6% Fib retracement level of the upward move from the high of $41,200 to $39,400 low. However, while the price is trading above $39,800, it is down the 100-hour SMA. On the daily chart, the cryptocurrency is forming a bullish trend line forming with support near $41,000.

If Bitcoin is to move forward, the first resistance is near the $41,000 level, and then at the $41,500 level. An upward move might push the price towards the $42,000 level in the short term.

On the downside, the next support is at the $40,350 level, however; the crucial support is at the $40,000 level and the trend line. The next crucial support is at $39,000 and the 100-hour SMA, which once broken, can send the price towards the $37,500 level.

Looking at the data on Google searches for Bitcoin – that sink to 6 month low – a downside correction is more likely to happen in the coming sessions.

Ethereum Analysis

Ethereum cleared the $2700 resistance zone and even cleared other levels on the upside, pushing the price further into a positive zone above $2800 and the 100-hr SMA. The cryptocurrency also formed a high near $2828 and is now consolidating gains. The daily chart shows ETH forming a major bullish trend line with support near $2775.

If Ethereum continues to gain, the next resistance is near the $2830 level, which it should clear to start another increase towards the next resistance level at $2880. Any further gains could help the cryptocurrency push towards the crucial $3000 resistance zone.

On the other hand, if it fails to clear the $2830 resistance, it could start a downside correction towards the trend line support and $2775. The immediate next support is at $2750, which if broken, could break it below the $2730 key support zone.

Ukraine Legalizes Crypto, Australia Takes Meta to Court, and EU Regulators Warn Against Crypto Investments

Ukraine has passed a bill that will allow the country to launch a legal market for cryptocurrencies in Ukraine. Per the new law, crypto exchanges and other service providers can operate legally in Ukraine’s jurisdiction, and businesses and individuals will be able to transact legitimately.

The European Banking Authority (EBA), European Securities and Markets Authority (ESMA), and European Insurance and Occupational Pensions Authority (EIOPA) have warned investors against the volatile nature of cryptocurrencies, which could turn into huge losses. The warning has come in the light of an increased user-base of crypto users in the region.

In a legal action, Australian watchdogs ACCC (Australian Competition and Consumer Commission) have launched a case against Meta(formerly Facebook). alleging that the platform is taking advantage of its huge user database to promote bogus crypto ads featuring famous people.

Bored Ape Yacht Club Drops Its Token; Some Made Thousands

The famous Bored Ape Yacht Club (BAYC) recently launched ApeCoin – a token linked to the club’s NFT project. It was airdropped this morning to all the holders of BAYC NFT. Everyone who cashed out made a lot of money because each coin was priced at around $10.36. A few hours later, it dropped to $6.28.

Source: Coingecko

However, those who didn’t sell made even more as the token not only quickly consolidated losses but also made a high of $17.17 in the same day. It has since leveled out at around $15.

Disclaimer:

The information discussed here is not financial advice. This is for educational and informational purposes only. DYOR before making any investments and consult your financial advisor. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

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; Cointelegraph @Cointelegraph ·

8 May 1655644988175437824

According to a report from The Wall Street Journal, Chinese companies are studying methods to develop AI via weaker semiconductors and combinations of chips to bypass reliance on a single type of hardware.

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; The Founding Monkey @Gav_Berry ·

29 Apr 1652281882002718720

People seem to be forgetting that BTC.D generally increases in a bear market not a bull market.

In bull markets Alts out-perform #bitcoin and in bear market Alts capitulate harder than #Bitcoin

Don’t be so sure that an explosion on BTC.D means an explosion for #Bitcoin

99.9%… https://twitter.com/i/web/status/1652281882002718720

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649391607798480897

Research shows that only a few #NFT projects will survive, those with Utility and those that are building vigorously throughout the Bear Market.

Fortunately we very much tick both of these boxes.

#Crypto Twitter, you have been warned on multiple occasions.

Tag your friends… https://twitter.com/i/web/status/1649391607798480897

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649384569567625216

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; 🐒The Social Monkey🐒 @G_DMMC_83 ·

17 Apr 1647998662629261312

@crypto_bitlord7 @Gav_Berry is a 💎

Never fade @DrunkenMonkey

Very big things are already here, not all professionals are aware of the services owning a membership has.

Yet

I’m surprised you don’t own a few digital assets to be fair bro

🌍 http://www.drunkenmonkeyclub.com

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; The Founding Monkey @Gav_Berry ·

16 Apr 1647705698040414212

As this bear-market rally finally comes to a close, we have one last episode, and that is the bear market Alt season…

Stables > #Bitcoin > #Ethereum #Altcoins > Stables….

Remember the pattern…

Tight stop-losses, Let’s go 🚀

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; The Founding Monkey @Gav_Berry ·

4 Apr 1643345006214762502

ETH 2.0 Shanghai upgrade (Thread)

Liquidity Staking Derivatives (LSDs)

Here is the story - (1)

Most will be aware of the #ETH 2.0 and the #Shanghai upgrade which comes to fruition on April 12th. 18 million ETH will become unlocked on April 12th, will this cause a sell-off?… https://twitter.com/i/web/status/1643345006214762502

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; Pomp 🌪 @APompliano ·

1 Apr 1642261068012564482

True entrepreneurs can figure out how to make money in any industry

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; The Founding Monkey @Gav_Berry ·

1 Apr 1642217548966969344

Your typical #Crypto #FuckedBoy

Tag a friend… 🫴🏼

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; The Founding Monkey @Gav_Berry ·

1 Apr 1642209366043492362

The last time #Bitcoin tested the $29,000 resistance level on quarterly closing was Q4 2020.

The last time USDT.D had a bearish engulfing quarterly candle, taking out the 2 previous quarters, was (you guessed it) Q4 2020.

On both occasions this USDT.D bearish engulfing candle… https://twitter.com/i/web/status/1642209366043492362

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Crypto Prices

Bitcoin

$27,158.02

BTC 0.19%

Ethereum

$1,905.70

ETH 0.80%

Binance Coin

$306.32

BNB -0.19%

Cardano

$0.38

ADA 0.00%

Dogecoin

$0.07

DOGE 0.83%

XRP

$0.52

XRP 1.57%

Polkadot

$5.29

DOT 0.72%

Uniswap Protocol Token

$5.09

UNI 0.45%

Solana

$21.20

SOL 0.24%

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Bitcoin and Ethereum Analysis and Updates | March 15-18

The latest news stories from the crypto world, as well as, market and technical analysis of leading cryptocurrencies including Bitcoin and Ethereum.

Market Analysis

Bitcoin Analysis

Ethereum Analysis

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Bitcoin and Ethereum Analysis and Updates | March 15-18

The latest news stories from the crypto world, as well as, market and technical analysis of leading cryptocurrencies including Bitcoin and Ethereum.

Market Analysis

Bitcoin Analysis

Ethereum Analysis

Ukraine Legalizes Crypto, Australia Takes Meta to Court, and EU Regulators Warn Against Crypto Investments

Bored Ape Yacht Club Drops Its Token; Some Made Thousands

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