The ETH ecosystem is lit as Layer-2s, exchanges, staking platforms, DeFi platforms, and everything Ethereum are all poised for action with the Merge fast approaching. Unprecedented macro events continue to be the backdrop for a crypto industry that is dogged by FUD yet inspired to keep innovating.
Volatile times await as crypto markets head into the merge. Use Quadency’s Portfolio Rebalancer to take the worry out of rebalancing your portfolio every time the market heads in a new direction.
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Bitcoin (BTC) is getting a lot of attention around the PoW energy use issue, which is not helped by Ethereum’s mining-free upgrade set to happen next week, plus energy crises gearing up worldwide. Despite all that, Bitcoin is becoming legal tender in a Swiss city and was called a “Wild Card” set to outperform by a top Bloomberg Analyst.
As the US markets woke up on the 9th of September, the rest of the world witnessed a BTC pump just a few days after a dump.
The pump marks the breakout of a channel that Bitcoin has been trapped in for the last two weeks. Now don't let this breakout get you too excited; the Macro still has yet to look good for BTC.
On the Bitcoin 1-Week chart, the price is still oversold and still under the 200 MA.
BTC has been fighting to cross above the 200 MA since May, with only 2 successful weeks trading above it. Right now, it looks like BTC will remain under the 200 MA with a line of support of around 19k.
It’s an interesting time for altcoins, most notably Ethereum and all its ecosystem assets. Bitcoin has always been the market leader, but it appears that mainstream media is focusing on Bitcoin’s carbon footprint. Could the energy savings of Ethereum’s new consensus layer added to all the Merge hype push it to become the dominant cryptocurrency?
Dogecoin took a hit in May, but now it may be on a path of vengeance.
Currently, Dogecoin is trading in a channel; now if the market momentum shifts upward, we could see Doge set up for a nice push upwards where the 200 MA and former point of resistance become a good take profit line.
Bitcoin (BTC) is getting a lot of attention around the PoW energy use issue, which is not helped by Ethereum’s mining-free upgrade set to happen next week, plus energy crises gearing up worldwide. Despite all that, Bitcoin is becoming legal tender in a Swiss city and was called a “Wild Card” set to outperform by a top Bloomberg Analyst.
As the US markets woke up on the 9th of September, the rest of the world witnessed a BTC pump just a few days after a dump.
The pump marks the breakout of a channel that Bitcoin has been trapped in for the last two weeks. Now don't let this breakout get you too excited; the Macro still has yet to look good for BTC.
On the Bitcoin 1-Week chart, the price is still oversold and still under the 200 MA.
BTC has been fighting to cross above the 200 MA since May, with only 2 successful weeks trading above it. Right now, it looks like BTC will remain under the 200 MA with a line of support of around 19k.
It’s an interesting time for altcoins, most notably Ethereum and all its ecosystem assets. Bitcoin has always been the market leader, but it appears that mainstream media is focusing on Bitcoin’s carbon footprint. Could the energy savings of Ethereum’s new consensus layer added to all the Merge hype push it to become the dominant cryptocurrency?
Dogecoin took a hit in May, but now it may be on a path of vengeance.
Currently, Dogecoin is trading in a channel; now if the market momentum shifts upward, we could see Doge set up for a nice push upwards where the 200 MA and former point of resistance become a good take profit line.
We delved into Lido DAOs liquid staking protocol for Ethereum in our weekly Coin Profile. Find out LDO’s tokenomics and learn about staking liquid tokens (sETH) vs. Ethereum staking.
Read the full Lido DAO (LDO) Coin Profile
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