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Ethereum Price Prediction: ETH/USD Regains Ground But $400 Still Unconquered

ETH Price Prediction – September 9 Ethereum price moves to break the $350 resistance level as the coin maintains its upward movement. ETH/USD Market Key […]

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ETH Price Prediction – September 9

Ethereum price moves to break the $350 resistance level as the coin maintains its upward movement.

ETH/USD Market

Key Levels:

Resistance levels: $420, $440, $460

Support levels: $265, $245, $225

ETHUSD – Daily Chart

Today, ETH/USD faces the uptrend until it finds resistance at the expected level of $345. The performance of the Ethereum market at the moment indicates the beginning of an uptrend very soon. It’s just a matter of time for this coin to reach the $480 level again.

What to Expect from Ethereum (ETH)

Looking at the daily chart, we can see that ETH/USD even spiked higher into the resistance level at $355 in the early hours of today. Therefore, if the buyers continue to push the market higher, the immediate resistance above the $410 level may be located. Above this, further resistance levels lie at $420, $440, and $460.

Alternatively, if the bears try to bring down the price below the lower boundary of the channel, the immediate support can be located at $300 which is below the trend line of the channel. Below this level, further support is found at $265, $245, and $225. Meanwhile, the RSI (14) is moving above the 40-level, suggesting that more bullish signals may come to play.

Against Bitcoin, the daily chart shows that Ethereum’s price is trading well in a strong uptrend around the 3435 SAT. As soon as the price is above the 9-day and 21-day moving averages, there is a possibility that additional benefits could be obtained in the long term. The next resistance key above this barrier is the 3700 SAT level. If the price keeps rising, it could even break the 3800 SAT and above in future sessions.

ETHBTC – Daily Chart

In other words, if the bears regroup now and drop below the channel, 3200 SAT and 3100 SAT supports may play out before rolling to 3000 SAT and below. However, the daily outlook is still looking bullish as the price actions remain in a consolidation mode. The RSI (14) is moving towards the 50-level and this could enhance the bullish movement for a while.

Source: https://insidebitcoins.com/news/eth-usd-market-5

Blockchain

SingularityNET Partners With Ocean Protocol Prior to the AI-Based DeFi Fund Launch

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[Press Release – Amsterdam, Netherlands, 18th May 2021]

SingularityNET’s first DeFi spin-off project, SingularityDAO, is announcing today their partnership with leading decentralized data provider Ocean Protocol.

The collaboration will see the OCEAN token’s inclusion in SingularityDAO’s index fund/investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levels: AI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.

All this AI requires a lot of data to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets – data sets published via Ocean Market (and other Ocean-based markets) into the Ocean ecosystem. The Ocean ecosystem is host to many diverse and varied trading and DeFi data sets. These make excellent candidates for consumption by SingularityDAO’s AI agents to enhance its financial modeling.

I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto that has been constantly delivering community-driven, decentralized data solutions. SingularityDAO will constantly make use of data to train our ML and I can’t think of a better partner than Ocean Protocol. – Marcello Mari, CEO at SingularityDAO

The news follows the successful completion of a total of $5.2 million raised in three different rounds for the highly anticipated Governance Generation Event on MANTRADAO, which reached its hard cap within less than 2½ hours.

The protocol, described as ‘DeFi meets decentralized AI,’ held the event exclusively for SingularityNET $AGI holders and attracted 5,800 registrations in one week. The token sale raised $1.6 million (8,000,000 SDAO).
The successful Governance Generation Event follows a recent private sale wherein SingularityDAO raised $2.7 million of funding from a number of top-tier investors such as AlphaBit, Marshland Capita, GBV, and SMO Capital. SingulariyDAO’s governance token has been generated on May 13th and distributed on the same day. It is currently trading on Uniswap.

About SingularityDAO

SingularityDAO is a decentralized platform, governed by the SDAO token, tasked with governing DynaSets. DynaSets are diversified baskets of cryptocurrency assets dynamically managed by AI and curated by the protocol. SingularityDAO brings the financial sophistication of AI-managed funds to DeFi, deploying SingularityNET’s AI technology to navigate complex markets.

About Ocean Protocol

Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.

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Source: https://cryptopotato.com/singularitynet-partners-with-ocean-protocol-prior-to-the-ai-based-defi-fund-launch/

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Blockchain

Bought the Dip? MicroStrategy Purchased $10M in Bitcoin at $43.6K

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Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins.

  • The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th.
  • It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per coin.
  • Keeping in mind the multiple purchases made since August 2020, the firm holds 92,079 bitcoins. MicroStrategy has paid $2.251 billion for its stash, with an average price of $24,450 per token.
  • Although this is far from being the largest single acquisition, as the company once bought more than $1 billion worth of BTC, this one actually comes in a compelling moment.
  • In fact, buying 10 million coins at an average price of $43,663 means that MicroStrategy has taken advantage of a popular narrative in the crypto community – buy the dip.
  • The price of the primary cryptocurrency has suffered severely in the past week or so after Elon Musk announced that Tesla has stopped receiving BTC payments for its electric vehicles.
  • In a matter of days, bitcoin fell from over $58,000 to a three-month low of $42,000.
  • Although losing $16,000 of value in less than a week could be considered a major blow, and some investors disposed of their coins even at a loss, MicroStrategy has reaffirmed its promise to continue buying bitcoin as part of its reserve treasury strategy.
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bought-the-dip-microstrategy-purchased-10m-in-bitcoin-at-43-6k/

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Bitcoin’s price could drop to $29,000, claims CNBC’s Carter Worth.

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In an appearance on the CNBC network’s Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom might be far from in. Bitcoin could drop to $29,000 and still be testing current support in line with past dips, he claimed. Analyzing recent price activity and comparing it to past Bitcoin bottoms, Worth said that current levels at around $45,000 represent the top of a support zone.

$45,000 represents the top of a support zone. 

“Were we to go down 55%, we’d be in the lower end of support,” Carter Worth summarized. “I think we’re in support — it’s fighting, but my hunch is it goes lower.” A 55% drop from current all-time highs would mean BTC to bottom out at just above $29,000. For Worth, this is a useful reference point, as 55% marks the average of every major price dip of 30% or more since 2011. However, as Twitter users noted, his calculations include events such as the 80% decline from all-time highs in 2017 — a process that took over a year to unfold.

Elon Musk’s tweets continue to trigger bitcoin prices. 

Elon Musk’s tweets once again seem to trigger the price of the leading cryptocurrency bitcoin and other cryptocurrencies. Earlier, Tesla CEO Elon Musk had announced that Tesla has decided to suspend short-lived bitcoin payments for its electric vehicles. The announcement caused bitcoin’s price to fall. However, this was not the only instance that triggered bitcoin prices. Later, Elon Musk replied to a tweet claiming Tesla might sell its bitcoin holdings by saying “indeed,” which started rumors about Tesla selling off its bitcoins holdings. However, Elon Musk later clarified that Tesla had not sold its bitcoin holdings.   

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://chaintimes.com/bitcoins-price-could-drop-to-29000-claims-cnbcs-carter-worth/

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