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Bitcoin Bulls Showing Strength, Will it Cross $30K Before Week’s End?

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• Bitcoin [BTC] peaked at $29,380 on 24 March before experiencing a resurgence of sell pressure.
• Recent market observations suggest that the amount of HODLed Bitcoin was still growing and there has been more sell pressure.
• A look at Bitcoin’s press time position explain why it had been experiencing sell pressure and how much exchange inflows and outflows were down in the last 24 hours.

Bitcoin Price Rally Stalls After Resistance Retest

Bitcoin [BTC] saw a peak of $29,380 on 24 March before coming under a surge of sell pressure. Despite this, recent market observations point to an increase in the amount of HODLed Bitcoin, suggesting that long-term holders are still going strong.

Pressure Persists as Resistance Retest Yields Sell Pressure

A look at Bitcoin’s press time position explains why it has been experiencing sell pressure – after pushing back into the ascending resistance line, many investors have taken profits triggering a pullback to the $28753 press time price. Exchange data also revealed that both inflows and outflows were down notably in the last 24 hours – but exchange outflows slightly dominated with 22,178 BTC compared to exchange inflows at 20,548 BTC.

Will Bulls Dominate or Will Resistance Win Out?

The question now is whether enough sell pressure will be generated to push past resistance or if bullish dominance can take hold and push beyond the $30,000 mark? If bulls succeed then Bitcoin could easily reach new highs by week’s end – however if bears prevail then further downside may be seen.

Net Outflow Despite Large Exchange Outflows

Despite large exchange outflows from exchanges, Bitcoin saw a higher net outflow indicating that long-term holders are holding onto their coins. This suggests some strength for bulls who may be hoping for yet another revival this week as we await what happens next with price action.

Green Portfolios As Prices Climb Again?

With Bitcoin crossing back above the $29,000 mark in the last 24 hours bullish hopes have been reignited – could we expect prices to climb above $30k again this week? Only time will tell but investors can keep an eye on metrics such as Percent Supply Last Active 1+ Years which recently hit an ATH of 68%. With green portfolios all round here’s hoping for good news before week’s end!

Celsius [CEL] Price Rises 5% After Court Approves Settlement Agreement

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• Celsius Network [CEL] has received approval from the bankruptcy court to settle with its debtors and custody account holders.
• CEL’s trading volume and value have increased since the court’s approval of the settlement agreement.
• Technical indicators suggest that CEL is currently in a neutral position, indicating a period of consolidation or indecision among traders.

Celsius Network [CEL] Receives Court Approval for Settlement

The court has approved a settlement agreement between Celsius and its custody account holders. According to the settlement, those who opt-in may recover 72.5% of their cryptocurrency holdings. This indemnifies Celsius Network against any future claims by any opting-in custodial account holder.

Increased Trading Volume & Value

Following the court’s go-ahead for Celsius to make its custody account holders partly whole, CEL has seen increased trading in the past 24 hours. According to data from CoinMarketCap, the token’s value went up by 5% during that period, while trading volume surged by over 200%. Growth in an asset’s trading volume with a corresponding rally in its price is a bullish sign, and it often indicates that the price may continue to grow.

Neutral Position Indicated By Technical Indicators

At press time, CEL exchanged hands at $0.3784 and an assessment of the price relationship with Bollinger Bands indicator showed CEL trading on the middle line which suggests that there is little price momentum in the market due to uncertainty of what direction asset’s price might go next. Additionally, CEL’s key momentum indicators such as RSI & MFI have moved sideways with no major indication of any upward or downward breakout which could indicate a period of consolidation or indecision among traders.

Price Prediction 2023-2024

Read Celsius’s [CEL] Price Prediction 2023-2024 for more information about potential future growth of this altcoin based on current market conditions and trends.

Check The Celsius Profit Calculator

Is your portfolio green? Check outthe Celsius Profit Calculator for more insights into how your investments are performing on this platform!

Crypto Leaders Speak Out: US Financial System Broken, Needs Disruption

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• Ripple CEO Brad Garlinghouse recently commented on the collapse of Silicon Valley Bank, which served as a banking partner for Ripple.
• Garlinghouse noted that despite the turmoil in traditional finance markets, Ripple remains in a strong position.
• Charles Hoskinson of Cardano criticized the US government’s unfair stance on crypto and Ripple’s General Counsel Stuart Alderoty praised US Representative Ro Khanna’s recommendations to increase FDIC premium payments.

Ripple CEO Points Out Broken Financial System

Ripple CEO Brad Garlinghouse took to Twitter recently to set the record straight regarding his blockchain company’s exposure to the now-defunct Silicon Valley Bank. At the time, Garlinghouse revealed that there was „some exposure to SVB,“ especially since it served as the banking partner for Ripple and held some of the firm’s cash balances. Despite the turmoil in United States banking system and broader traditional finance markets, he noted that „Ripple remains in a strong position.“ His statements were supported by popular crypto-lawyer John Deaton and Cardano founder Charles Hoskinson.

Government’s Unfair Stance on Crypto

Hoskinson recently pointed out the irony in the U.S. government’s unfair position on crypto where firms have been called risky for backing their stablecoins with cash and treasury bills, while traditional banking institutions have failed due to long-term TradFi bonds but blamed crypto instead.

Support from US Representative

Ripple’s General Counsel Stuart Alderoty lauded US Representative Ro Khanna’s efforts after he recommended an increase in premium payments by banks to Federal Deposit Insurance Corporation (FDIC) in order to protect depositors for payroll & regional banks and prevent consolidation of financial systems. Alderoty also called for a post-mortem of SVB’s collapse to determine accountability and address gaps in regulation of banks.

Crypto Remains Strong Amid Turmoil

Garlinghouse further pointed out that rumors and FUD led to collapse of banks and inability of firms to move around their own funds during this pandemic, highlighting plight of country’s financial systems but added that crypto remains strong amid this turmoil.

Conclusion

Despite issues faced by traditional finance due to COVID-19 crisis, blockchain technology is thriving more than ever with its solutions for payment networks like Ripple proving effective at modernizing United States‘ banking system both domestically and internationally.

Uniswap [UNI] Price Analysis: Market Structure Weakening, Bulls Need Support

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• UNI dropped 20% after price rejection at $7.624 on 18 February.
• Market structure weakened and bulls attempted to front a recovery.
• Quarterly holders outperformed monthly peers, but the 90-day Mean Coin Age rose.

Uniswap [UNI] Price Prediction: Weak Market Structure

Uniswap’s [UNI] market structure weakened further after the price rejection at $7.624 on 18 February caused the native DEX token to depreciate by 20%. At press time, UNI traded at 6.239 as bulls attempted to front a recovery, however conflicting results from key fundamentals and metrics called for investors‘ caution.

Price Rejection Causes Correction

At the height of the January rally, UNI entered a price consolidation and formed a rising channel (white). The price action breached below this channel in early February but was checked by the 100-day EMA (exponential moving average). However, retracement followed after a rejection at $7.624 overhead resistance, leaving bulls to target levels of 23.6% ($6.390), 38.6% ($6.625), 50% ($6.816), or 61.8%($7.007) Fib levels on their attempts for recovery daily close above the 23.6% Fib level is necessary for this to occur successfully; otherwise bears could re-enter with shorting opportunities set around $6 with stop loss placed above $6 390 if Bitcoin [BTC] retests its all-time high of $25K again then UNI may swing back up towards its overhead resistance level of $7 624 however RSI divergence and ADX retreat suggested that market structure has weakened and could enter consolidation or further retracement soon..

Wide Network Accumulation Of Tokens

The wide network accumulation of tokens was reflected by an increase in 90-day Mean Coin Age; this could potentially lead to bullish rallies in future although 30-day MVRV showed that monthly holders incur losses of 5%, quarterly holders enjoyed modest profits of 2%.

Profit Calculator

Investors can use Uniswap’s profit calculator to assess their portfolio performance during these corrections and understand where they stand against other users in terms of profits/losses made since holding UNI tokens over different periods of time..

Conclusion

Overall, caution must be taken when investing into Uniswap [UNI], especially considering its current weak market structure which could see further correction or consolidation depending on how Bulls are able to regain control over prices in short term trading sessions ahead