Connect with us
[crypto-donation-box]

Blockchain

ZRX Technical Analysis: Price Above the First Fibonacci Pivot Resistance Level of $1.15

ZRX Technical Analysis: Price Above the First Fibonacci Pivot Resistance Level of $1.15

Rate this post 0x is a liquidity aggregator for cryptocurrency transactions. It also provides a robust platform for building DeFi applications. Lower revert rates, cost-efficiency, and speedy response times are the standout features of this blockchain network. ZRX is the native token of this ecosystem and its technical analysis is as follows: Past Performance On May 26, 2021, ZRX opened at $0.98. On Jun 1, 2021, ZRX closed at $1.03. Thus, in the past week, the ZRX price has increased by approximately 5%. In the last 24 hours, ZRX has traded between $1.02-$1.20. https://platoblockchain.net/wp-content/uploads/2021/06/zrx-technical-analysis-price-above-the-first-fibonacci-pivot-resistance-level-of-1-15.png Day-Ahead and Tomorrow Currently, ZRX is trading at $1.16. The price has increased from the day’s opening price of $1.03. Thus, the market seems bullish. The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Plus, both the lines are closer to the zero line and may turn positive soon. Thus, the price may increase further with an intermittent price pullback. Currently, the RSI indicator is at 50%. It faced rejection at 43% and rose to this level. Thus, buying pressures are slowly building up. Hence, the ZRX price may start rising in some time. Besides, the OBV indicator is steadily rising. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the ZRX price. In a nutshell, all three oscillators have indicated an impending price rise. However, intermittent price pullbacks as a part of the price correction process, cannot be ruled out. ZRX Technical Analysis Currently, the price is above the first Fibonacci pivot resistance level of $1.15. The price may soon fall below it and further below the Fibonacci pivot point of $1.08. Thereafter, we have to wait and watch, if the price resumes its upward journey. The price has tested and fallen below the 23.6% FIB retracement level of $1.16. The price is likely to retest and break out of this level after some time. If by day end, the price surpasses the 23.6% FIB extension level of $1.24, then the price uptrend is strong and may continue tomorrow as well.

The post ZRX Technical Analysis: Price Above the First Fibonacci Pivot Resistance Level of $1.15 appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

0x is a liquidity aggregator for cryptocurrency transactions. It also provides a robust platform for building DeFi applications. Lower revert rates, cost-efficiency, and speedy response times are the standout features of this blockchain network. ZRX is the native token of this ecosystem and its technical analysis is as follows:

Past Performance

On May 26, 2021, ZRX opened at $0.98. On Jun 1, 2021, ZRX closed at $1.03. Thus, in the past week, the ZRX price has increased by approximately 5%. In the last 24 hours, ZRX has traded between $1.02-$1.20.

https://platoblockchain.net/wp-content/uploads/2021/06/zrx-technical-analysis-price-above-the-first-fibonacci-pivot-resistance-level-of-1-15.png

https://platoblockchain.net/wp-content/uploads/2021/06/zrx-technical-analysis-price-above-the-first-fibonacci-pivot-resistance-level-of-1-15.png

Day-Ahead and Tomorrow

Currently, ZRX is trading at $1.16. The price has increased from the day’s opening price of $1.03. Thus, the market seems bullish.

READ  SANBA Gets Support Of Cardano To Catalyze Blockchain Use In SA

The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Plus, both the lines are closer to the zero line and may turn positive soon. Thus, the price may increase further with an intermittent price pullback.

Currently, the RSI indicator is at 50%. It faced rejection at 43% and rose to this level. Thus, buying pressures are slowly building up. Hence, the ZRX price may start rising in some time.

Besides, the OBV indicator is steadily rising. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the ZRX price.

In a nutshell, all three oscillators have indicated an impending price rise. However, intermittent price pullbacks as a part of the price correction process, cannot be ruled out.

READ  Kraken Contributes $100K Funds to Help Coin Center

ZRX Technical Analysis

Currently, the price is above the first Fibonacci pivot resistance level of $1.15. The price may soon fall below it and further below the Fibonacci pivot point of $1.08. Thereafter, we have to wait and watch, if the price resumes its upward journey.

The price has tested and fallen below the 23.6% FIB retracement level of $1.16. The price is likely to retest and break out of this level after some time. If by day end, the price surpasses the 23.6% FIB extension level of $1.24, then the price uptrend is strong and may continue tomorrow as well.

#Ox #ZRX

Source: https://www.cryptoknowmics.com/news/zrx-technical-analysis-price-above-the-first-fibonacci-pivot-resistance-level-of-115/

Blockchain

Beware: Scammers Send Fake Replacement Ledger Devices to Steal Cryptocurrencies

Republished by Plato

Published

on

The troubles of customers using the services of the popular cryptocurrency wallet Ledger continue. After the security issues last year, users have now complained about receiving fake Ledger replacement devices that actually aim to steal their digital asset holdings.

Fake Ledger Replacements

Founded in 2014, Ledger develops hardware wallets enabling cryptocurrency investors to store their assets on offline devices. The company has enjoyed significant growth in the past several years and especially after the most recent boom in prices.

However, the rise of BTC and other digital assets also caught the attention of bad actors, and Ledger has been involved in a few controversial security breaches that could even lead to legal actions against the company.

It also seems that scammers have decided to take advantage of these breaches through a new scheme. A Reddit user recently complained about receiving a new Ledger Nano X device in the mail in an authentic-looking package.

However, it contained a letter filled with grammatical and spelling errors, which concerned the user, despite the perpetrators’ attempt to link the replacement device with the actual data breach.


ADVERTISEMENT

“For this reason for security purposes, we have sent you a new device you must switch to a new device to stay safe. There is a manual inside your new box you can read that to learn how to set up your new device. For this reason, we have changed our device structure. We now guarantee that this kinda breach will never happen again.” – reads the fake letter.

Fake Letter Sent to a Ledger User. Source: Reddit
Fake Letter Sent to a Ledger User. Source: Reddit

Another Attempt to Steal Crypto

After complaining on Twitter, a security expert spoke to BleepingComputer about the differences between the original Ledger device and the one that the scammers sent.

He explained that the perpetrators have added a flash drive and wired it to the USB connector. He believes the new additions are “with the purpose to be for some sort of malware delivery.”

Keeping in mind that the instructions sent by the customers tell the potential victim to connect the fake Ledger and enter the recovery phase, it’s safe to assume that they intended to steal the digital asset holdings.

In any case, this situation also goes to show how important it is for crypto investors to know how to store their assets safely, and these tips could help.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/beware-scammers-send-fake-replacement-ledger-devices-to-steal-cryptocurrencies/

Continue Reading

Blockchain

How Many Bitcoin U-Turns? Goldman Sachs Now Says Bitcoin Is Not a Viable Investment

Republished by Plato

Published

on

The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.”

Crypto Is Not a Viable Investment: Goldman

It’s safe to say that Goldman Sachs has displayed a controversial approach to the cryptocurrency space. The latest report coming from the Wall Street giant takes it back a notch by going to its hostile policy from previous years.

Titled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” it touched upon some of the most recent concerns, including high energy consumption required in the process of mining. This topic was raised in May by Tesla’s Elon Musk, who criticized BTC for using too much coal fuel.

Despite numerous reports claiming otherwise, Tesla disabled bitcoin payments citing environmental issues.

The paper also touched upon cryptocurrencies’ usage in ransomware attacks after numerous hacks transpired on US soil in recent months. After each, the perpetrators indeed requested the payments to be sent in bitcoin.


ADVERTISEMENT

Furthermore, the document named impending regulations as the “biggest risk to the speculative aspects of this ecosystem.” Keeping in mind all of these concerns, the bank concluded:

“After analyzing various valuation methodologies and applying our multi-factor strategic asset allocation model, we have concluded that cryptocurrencies are no a viable investment for our clients’ diversified portfolios.”

How Many U-Turns?

The mentioned-above word ‘controversial’ might not be strong enough to describe Goldman’s ever-changing views on the industry.

The institution was among the first regulated entity to launch a crypto trading desk all the way back in 2017. Yet, that came amid the parabolic price increases, and when the year-long bear market followed, Goldman halted the initiative.

In the meantime, Goldman held a conference call in which it said bitcoin is not an asset class. Bank executives repeatedly questioned BTC’s ability to serve as a reliable store of value and blasted its volatility.

Yet again, Goldman restarted the trading desk this year when, once again, prices were skyrocketing to new highs. It also filed for a Bitcoin ETF with the SEC, explored launching custody services, added BTC to its year-to-date returns report, participated in investment rounds in crypto projects, and enabled clients to trade bitcoin derivatives.

With all of that in mind, it’s not such a surprise that Alex Kruger and other crypto community members viewed Goldman’s latest U-turn as nothing out of the ordinary.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/how-many-bitcoin-u-turns-goldman-sachs-now-says-bitcoin-is-not-a-viable-investment/

Continue Reading

Blockchain

What these Ethereum, Chainlink, Binance Coin market players are up to

Republished by Plato

Published

on

The cryptocurrency market is evidently going through yet another free-fall period. In fact, the price of a major asset like Bitcoin has dropped below $35,000. With Ethereum, the situation was a little worse as its valuation dropped below $2,150 for the 1st time since 24 May.

However, while price action screamed bearish on the charts, whales have been pretty active over this volatile period. Here, it is also important to note that we are still amidst strong uncertainty, meaning bulls have a chance to recover in strength.

Keeping tabs on whale activity might allow us to approach particular altcoins with more confidence, or keep away from the ones with possible red flags.

Ethereum Whales are on fire!

Source: Santiment

Ethereum’s value may have collapsed quickly from its ATH levels but since the aforementioned correction, the supply held by top addresses has steadily gone up. The percentage of the total circulating supply held by top ETH addresses had dropped down to 18.4% too, but it was 19.8% at press time. In quantifiable numbers, more than 1.3 million ETH has been accumulated by these whale addresses post the May 19th crash.

It is quite a contrary sight considering ETH’s price has been deflating, failing to break above $3,000. But, it can also be inferred that Ethereum’s future is what investors are concerned with. Ethereum is heading towards its largest Options Expiry on June 25th and it may have a strong impact on its price.

Additionally, it is largely anticipated that the London Hard fork is also going down in July, which will be introducing the EIP-1559 protocol. Ethereum also announced that on 24th June, the testnet for the hard fork will be going live.

Source: Santiment

For Binance Coin, the number of whale addresses increased as well and from a fundamental point of view, it made clear sense too. BNB runs everything related to Binance and the exchange’s position in the market is fairly strong, regardless of bullish/bearish conditions.

On a long-term basis, market recovery would always fall in line with a bullish recovery for BNB. The asset being 50% under its ATH levels can therefore be considered to be an ideal accumulation range.

Chainlink – No more strength in Hodlers?

Source: Santiment

Surprisingly, Chainlink is one of the assets that has seen a consistent decline in supply held by top addresses. Here, it is also important to note that the decreasing whale activity has been ongoing since the beginning of 2021. Curiously, earlier last year, whale activity had dominated LINK’s network, so it is a complete change from its previous level of engagement.

From a development point of view, Chainlink continues to develop partnerships and collaborate with multiple organizations for DeFi improvements, so a decrease in whale addresses may also mean higher distribution. And yet, a lack of higher hodling addresses might be indicative of falling trust in its long-term valuation.


Subscribe to our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/what-these-ethereum-chainlink-binance-coin-market-players-are-up-to

Continue Reading
5 days ago

Valorant Ep. 2 FORMATION Player Card: How to Claim

News5 days ago

The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects

Blockchain2 days ago

GSA To Add Litecoin For The First Time In Upcoming Cryptocurrency Auction

Uncategorized2 days ago

The World Bank wants no part in El Salvador’s Bitcoin revolution

Blockchain3 days ago

Survey: Hedge Funds Intend To Hold $300 Billion In Crypto Within 5 Years

Uncategorized2 days ago

Healthcare: A trillion dollar opportunity for blockchain?

Uncategorized4 days ago

Banks Should be Scared of DeFi Warns Mark Cuban

Blockchain5 days ago

Grayscale to Unlock 16,000 Bitcoin Shares on July 19

Blockchain4 days ago

Coinbase Pro to List Dogecoin Rival Shiba Inu, Token Gains 33% in Price

Blockchain5 days ago

Edgewater Markets Taps Michael Cleary as Its New Director of Sales

Blockchain5 days ago

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Blockchain5 days ago

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Blockchain2 days ago

Maiar, The Money App Powered By The Elrond Blockchain, Adds Bitcoin

Blockchain4 days ago

PARSIQ Raises $3M in Strategic Venture Round Joined by Solana, and Others

Blockchain5 days ago

All About Solana And Why It’s The Game-Changer Crypto Of The Year

Blockchain2 days ago

Decentral Games: Next gen blockchain entertainment platform

Blockchain1 day ago

Paraguayan Official Confirms: In July We Legislate Bitcoin

Blockchain5 days ago

Ethereum Follows BTC And Rallies Above $2500: Price Analysis

Blockchain3 days ago

Cardano’s buyers have this role to play in the near term

Blockchain1 day ago

Global Financial Indexes Provider MSCI Plans to Launch Crypto Indexes

Trending