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Popular Youtuber KSI Tweets “Ethereum” Amid Fresh Rally

Ethereum pushed higher on Saturday despite Bitcoin flatlining. The cryptocurrency is up 7.5% in the past 24 hours and has moved past $1,300 for the first time since January of 2018. The cryptocurrency remains below the all-time high price of $1,450 despite the recent push higher and the recent Bitcoin rally to $42,000. ETH is […]

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Ethereum pushed higher on Saturday despite Bitcoin flatlining. The cryptocurrency is up 7.5% in the past 24 hours and has moved past $1,300 for the first time since January of 2018.

The cryptocurrency remains below the all-time high price of $1,450 despite the recent push higher and the recent Bitcoin rally to $42,000. ETH is the best-performing crypto asset in the top 10 by market capitalization except for Bitcoin Cash (BCH).

Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment

KSI Name Drops Ethereum

Popular Youtuber “KSI,” also known as Olajide Olayinka Williams “JJ” Olatunji, recently tweeted out “Ethereum” on Twitter. The tweet from the influencer can be seen below.

The tweet went crypto-viral, garnering tens of thousands of likes and thousands of replies.

Many in the cryptocurrency space responded to KSI’s tweet, telling him about Ethereum and joking about it being the future of finance.

This appears to be the first time the Youtuber has mentioned Ethereum or other cryptocurrencies. A search on Google for “KSI Youtuber Bitcoin” results in nothing relevant to the Youtuber or his interactions with cryptocurrency.

Of note, it is unclear whether or not the celebrity actually owns ETH or was just commenting on it to capitalize on the ongoing attention given to the cryptocurrency.

KSI is the latest celebrity to have dabbled in Bitcoin, Ethereum, and cryptocurrency amid the recent price rally.

Previously, rapper Sir Robert Bryson Hall II, also known as “Logic,” put a material amount of his net worth into Bitcoin late last year. Assuming he hasn’t sold (which is something he hasn’t announced), he should be up over 150% on his investment in the leading cryptocurrency.

Related Reading: DeFi Founder Targeted in $8m Hack Says He Has His Hacker’s IP

Little Resistance Ahead of ETH, Per Order Book Data

Data shows that Ethereum may be ready to surge even higher in the weeks and months ahead, which may validate KSI’s tweet about the cryptocurrency.

A crypto-asset trader recently shared the chart seen below, which shows that there is little overhead resistance for Ethereum past $1,400. This means that like Bitcoin, once the previous all-time high region breaks, there may be little resistance as the cryptocurrency enters a phase of a market known as price discovery.

The trader says that Ethereum could face some resistance in the $1,350 range, though, which is just a few percent above the current price.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Unsplash
Chart from TradingView.com
Price Tags: ethusd, ethbtc, eth
Popular Youtuber KSI Tweets "Ethereum" Amid Fresh Rally

Source: https://www.newsbtc.com/analysis/eth/popular-youtuber-ksi-tweets-ethereum-amid-fresh-rally/

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Litecoin Price Analysis: 22 January

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The Bitcoin market registered an important price drop recently, one wherein the value of the digital asset dipped briefly under $30k on the charts. Although the cryptocurrency’s value later bounced back above the $30k-level, the said drop in price also contributed to major altcoins like Litecoin plunging on the charts.

Litecoin briefly breached the support at $125, following which it managed to recover from its sudden fall on the charts. At the time of writing, Litecoin was valued at $137.27, with the cryptocurrency trading close to its immediate resistance levels.

Litecoin one-hour chart

Source: LTCUSD on TradingView

From the attached chart, Litecoin’s price can be seen falling within a descending channel and hitting a low of $121.97. This low was followed by an immediate retracement as the market tried to stabilize. In fact, later, the price of the digital silver immediately pushed higher, which was why LTC was trading above $130, at press time.

Given the aforementioned drop, the digital asset may breach the resistance at $138 and be priced higher on the charts.

Reasoning

The 50 moving average moved above the price bars and acted as a resistance level for the price of LTC. The said fall pushed LTC into the oversold zone, with Bitcoin’s own depreciation on the charts contributing to growing selling pressure. However, as the price recovered, the Relative Strength Index also moved into the equilibrium zone. As this level looked like a consolidating range for LTC’s price, the emergence of bullish pressure may push it higher on the price scale.

Further, the Awesome Oscillator highlighted the momentum shifting towards the sellers’ side. The AO dipped under zero a couple of days back, and a short position of traders must have realized here as the market went on a downtrend. With the downtrend sustaining itself, all momentum in the market was lost.

Crucial levels to look out for

Entry: $138.03
Stop-Loss: $134.73
Take-Profit: $144.88
Risk-to-Reward: 2.39

Conclusion

The press time price level looked like a consolidating level for Litecoin. However, a northbound push for the digital asset may result in traders benefiting from a long position as they realize a profit at $144.88.

Source: https://ambcrypto.com/litecoin-price-analysis-22-january

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VanEck files for a ‘Digital Asset ETF’ with the SEC

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According to a filing published today by the United States’ Securities and Exchange Commission, New York-based investment management firm VanEck intends to launch a Digital Assets ETF, one that will track as closely as possible, before fees and expenses, “the price and yield performance of the MVIS® Global Digital Assets Equity Index.”

The fund will invest in companies that generate at least 50% of their revenue from digital asset projects, or developing projects that have the potential to generate half of their revenue from the digital assets industry.

It should be noted, however, that the term “digital asset industry” is by and large a broad terminology for companies that operate digital asset exchanges, payment gateways, mining operations, software services, equipment, and technology. This may well mean that there is potential for companies like Coinbase to be included in the fund after a successful IPO.

The SEC filing also notes that this fund will invest in companies that hold a significant amount of digital assets on their balance sheets. This suggests that companies like MicroStrategy may be a part of its portfolio, considering its own billion-dollar Bitcoin holdings.

The New York-based investment firm isn’t a stranger to SEC filings. VanEck had previously submitted applications for Bitcoin-based ETFs with the SEC, with a majority of them being rejected by the regulatory agency for a host of reasons.

On the contrary, back in September 2019, VanEck withdrew its application for a Bitcoin ETF. Interestingly, the verdict on its most recent application for an ETF, titled “VANECK BITCOIN TRUST” is still undecided.

If the development comes to pass, it will be a huge step, especially since the said offering will be launching in a country where regulatory agencies have often been seen with a suspicious eye. In Europe, on the other hand, crypto-ETPs surpassed a billion Euros in assets in 2020, despite a regulatory ban on selling these products to retail investors in the U.K.

While a crypto-ETF is still yet to be officially approved in the U.S, many investment advisors have cited concerns saying that without a crypto exchange-traded fund, there is little incentive for registered investment advisors to put clients’ cash into crypto.

Source: https://ambcrypto.com/vaneck-files-for-a-digital-asset-etf-with-the-sec

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Stellar Lumens, Steem, Maker Price Analysis: 22 January

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Stellar Lumens registered significant losses recently. However, since a lot of the asset wasn’t sold on the market, XLM could see some upside in the next day or two. STEEM also showed signs that it was poised for a bounce while Maker slipped under a triangle pattern and could move towards $1000 on the price charts.

Stellar Lumens [XLM]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: XLM/USD on TradingView

While Stellar Lumens did not show strength in the market with regard to its price, there was reason to believe that XLM was heading back towards the range high at $0.31. The trading volume was low over the past few days, and the OBV showed that there was not a significant volume of XLM sold over the past few sessions, despite strong losses.

The range lows at $0.223 offered some pushback and at the time of writing, XLM was trading under the mid-point of the range at $0.264.

While the momentum seemed bearish, rising above the mid-point and defending that level will be a reason to conclude that XLM is likely to move towards $0.31 once more.

Steem [STEEM]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: STEEM/USDT on TradingView

STEEM registered a local high at $0.22 earlier this month and set a lower high at $0.211 a few days ago. Since then, it has faced strong selling pressure, with the crypto trading at $0.177, at the time of writing.

It saw a candlewick below the $0.168-support level, but that was quickly bought up. The RSI registered a value of 38, indicating bearish momentum. Further, the Stochastic RSI was deep within the oversold territory.

Combined with the buying pressure that drove the price all the way up from the wick to $0.164, it could be that STEEM is poised to attempt a bounce to the $0.185-$0.19 region. The reaction there will set its next direction.

Maker [MKR]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: MKR/USDT on TradingView

The MACD was steadily falling further into bearish territory after MKR closed under a symmetrical triangle pattern and re-tested the $1400-level as resistance. The Directional Movement Index also showed that the -DMI (pink) and ADX (yellow) were both climbing past 20 on the charts to show that a strong downtrend was in progress.

The 38.2% level at $1200 could offer support to MKR, should it flip the level to support in the coming hours. Further downside for Bitcoin towards $27.7k will likely see MKR move towards $1000 as well.

Source: https://ambcrypto.com/stellar-lumens-steem-maker-price-analysis-22-january

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