ETH Bulls Eye $1,650 in Justin Sun Bullish Bet on Shanghai Update

Audy Castañeda
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<strong>ETH Bulls Eye $1,650 in Justin Sun Bullish Bet on Shanghai Update</strong>

It was a bearish Saturday session for Bitcoin (BTC) and Ethereum (ETH), with ETH revisiting below $1,600. Fed fears and regulatory risk jitters weighed on investor sentiment, and the G20 anti-crypto talks also tested buyers’ appetites. However, ETH and BTC made modest gains this morning.

Ethereum (ETH) fell 0.81% on Saturday. Following a 2.60% loss on Friday, ETH ended the day at $1,595. The bearish session took ETH below $1,600 for the third time in ten sessions.

A mixed start to the day saw ETH rally to an early high of $1,609. Failing to reach the first major resistance level (R1) at $1,657, ETH fell to a late low of $1,558. ETH briefly fell through the first major support level (S1) at $1,567 before ending the day at $1,595.

It’s a busy time for the Ethereum community, with the Shanghai update scheduled for February 28. While market sentiment on the impact of the Shanghai update on ETH is mixed, Tron (TRX) founder Justin Sun has taken a bullish position, betting 150,100 ETH on Lido (LDO).

On Saturday, Bitcoin (BTC) fell 0.09%. Following a 3.13% drop on Friday, BTC ended the day at $23,178. The bearish session sent BTC below $23,000 for the second time in ten sessions. BTC extended its losing streak to five sessions, the second of the year.

A mixed start to the day saw BTC rally to an early morning high of $23,223. Failing to reach the first major resistance level (R1) at $23,942, BTC fell to a late low of $22,810. However, pulling away from the first major support level (S1) at $22,665, BTC found late support to end the day at $23,178.

Ethereum (ETH) Price Action – Technical Indicators

ETH needs to avoid the $1,587 pivot to target the first major resistance level (R1) at $1,617. A move through Saturday’s high of $1,609 would signal a breakout session. However, the Shanghai update news and crypto news wires should support ETH to support a breakout.

In the event of a prolonged rally, the bulls would likely test the second major resistance level (R2) at $1,638 and resistance at $1,650. The third major resistance level (R3) sits at $1,689.

A move through R1 ($1617) would support a break of the 100-day ($1630) and 50-day EMAs ($1636) to target R2 ($1638). However, a drop through the 200-day EMA ($1,597) would give the bears a run at S1 ($1,566). A break of the 50-day EMA would send a bullish signal.

Bitcoin (BTC) Price Action – Technical Indicators

BTC needs to avoid the $23,070 pivot to target the first major resistance level (R1) at $23,331. A move through Saturday’s high of $23.223 would signal a breakout session. Crypto news wires need to be crypto-friendly to support a prolonged rally.

In the event of a prolonged rally, BTC would likely test the second major resistance level (R2) at $23,483 and resistance at $23,500. The third major resistance level (R3) sits at $23,896.

A move through R1 ($23,331) would give the bull a run at R2 ($23,483) and the 100-day ($23,547) and 50-day ($23,739) EMAs. However, a drop through S1 ($22,918) and the 200-day EMA ($22,854) would give the bears a run at S2 ($22,657). A move through the 50-day EMA ($23,736) would send a bullish signal.

By Audy Castaneda

The Big Litecoin Forecast for March 2023

Audy Castañeda
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<strong>The Big Litecoin Forecast for March 2023</strong>

Litecoin price has seen a stronger rise in recent weeks.

Litecoin has been one of the most interesting cryptocurrencies on the market in recent months. Especially in the fourth quarter of 2022, the Litecoin price saw stronger price increases than many other coins. With the bullish phase of the market in the first weeks of 2023, the price of LTC continued to rise.

At the turn of the year 2022/2023, the price of Litecoin was still $70. Over the course of January, the price of LTC rose continuously. The Litecoin price was already at $95 at the end of January.

Shortly thereafter, the Litecoin price rose above the $100 mark. After a week in February, the LTC price briefly fell below $90. It then climbed back above the $100 mark. In the last few days, the price has fallen slightly again, and it was hovering around 90 dollars.

Litecoin was able to rally more strongly, especially after the FTX bankruptcy. Here Litecoin helps make it more established and works according to similar laws as Bitcoin. The FTX token implosion, as well as other implosions such as Terra (LUNA) and Celsius, have increased confidence in Litecoin.

Then, in 2023, Litecoin was able to benefit from bitcoin’s strong rallies, sparking an overall bull market.

What is the Litecoin forecast for March 2023?

Litecoin should continue to rise in the coming weeks if the market remains bullish. The price action over the past several weeks suggests that we have bottomed out in the market and we should see a medium-term rally in the market over the next few weeks.

If Bitcoin bounces above the $25,000 resistance in the next few weeks, then Litecoin should also rally significantly and break above the $100 mark. Therefore, the Litecoin forecast should be positive.

Therefore, the Litecoin price should rise again in the course of March 2023. The strength of this rise in the coming weeks largely depends on the course of Bitcoin. If Bitcoin breaks the $25,000 resistance, Litecoin should rally sharply above $100 as well.

Even with just a slight rise in Bitcoin, Litecoin is likely to rally back above the $100 mark. A rise in the market seems very likely and Litecoin should gain at least 10-15 percent.

Therefore, a Litecoin Forecast of $100 to $115 is assumed by the end of March 2023.

Should You Invest in LTC?

Litecoin is a good alternative to Bitcoin. It works very similar to Bitcoin and has a lot in common with its big brother. Especially at a time when regulators are taking a closer look at altcoins and, above all, proof-of-stake networks, Litecoin could be a better alternative to Bitcoin.

By Audy Castaneda

IMF Presents Cryptocurrency Ban Idea at G20

Audy Castañeda
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IMF Presents Cryptocurrency Ban Idea at G20

It was a mixed Saturday session for the top ten crypto, with BNB and DOGE challenging a downtrend. The G20 updates weighed heavily, with the core PCE price index figures, as well as Friday’s hawkish talk from the Fed, resonating. The crypto market capitalization fell $4.16 billion, ending the day at $1.016 billion.

It was a mixed session for the top ten crypto on Saturday. MATIC led the way lower for the second session in a row, while BNB and DOGE bucked the downtrend. The downtrend saw BTC revisit below $23,000 for the second time in ten sessions.

Fed Fear continued to dominate the crypto market on Saturday. US economic indicators on Friday and hawkish Fed views prompted bets for a more aggressive Fed rate path to tame inflation.

The core PCE price index rose 4.7% in January from an upwardly revised 4.6% in December. In early February, Fed Chairman Powell spoke about the first signs of disinflation. Friday’s figures suggest otherwise and put rate hikes of 50 basis points back on the table.

Crypto Market Extends Loss Streak to Five Sessions

It was a bearish Saturday session. A mixed start to the day saw the crypto market capitalization rise to an early morning high of $1.025 billion before pulling back. The reversal caused the crypto market capitalization to slide to a late low of $996.09 billion.

However, finding late support, the crypto market capitalization ended the day at $1.016 billion, marking a modest loss of $4.16 billion (-0.41%) on Saturday.

MATIC led the way down, falling 1.30%, with ADA (-1.09%) also struggling.

ETH (-0.81%), BTC (-0.09%), and XRP (-0.13%) posted relatively modest losses.

However, BNB avoided the red, rising 0.07%, with DOGE ending the day unchanged.

dYdX (DYDX) gained 6.68% to lead the way, with stacks (STX) and ssv.network (SSV) rising 4.54% and 5.74%, respectively.

However, Optimism (OP) fell 10.05%, with singularityNET (AGIX) and synthetix (SNX) posting losses of 9.21% and 6.51%, respectively.

24-Hour Sale Slips for a Fifth Day in the Red

Within 24 hours, cryptocurrency selloffs returned to below normal levels. Long positions had a higher proportion of liquidations, accounting for 83.49% of total crypto liquidations. This morning, 24-hour liquidations stood at $71.45 million, down from $164.11 million on Saturday morning (UTC).

Traders liquidated in the last 24 hours were also lower. This morning, traders settled stood at 38,441, as compared to 59,928 on Saturday morning. Crypto settlements were the lowest for 12 hours, while the highest were for four hours and one hour, respectively.

According to Coinglass, 12-hour liquidations stood at $59.58 million, up from $146.90 million on Saturday morning. However, four-hour sales increased from $20.42 million to $33.45 million, and one-hour sales increased from $1.36 million to $2.98 million.

With no US economic indicators to consider, investors should monitor crypto newswires for regulatory activity and chatter from US lawmakers. Binance and FTX updates should be noted alongside case news on SEC vs. Ripple course.

Additionally, other G20 updates would generate interest, and the anti-crypto theme is likely to weigh on investor sentiment, as regulators ramp up activity within the digital asset space.

By Audy Castaneda

Bitcoin Course Crashes Again

Audy Castañeda
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0
<strong>Bitcoin Course Crashes Again</strong>

The Bitcoin price has not been able to rise much in recent days. The price recently dipped back below $24,000 after failed attempts to break the overhead resistance at $25,000.

The Bitcoin price fell again last night. From just under $24,000, it was back down to $23,000. It was the second big drop in the price of Bitcoin in just a few days. The price was about to break the $25,000 resistance.

After a slight recovery to $23,500, just below the $24,000 mark, the price fell sharply again yesterday. Bitcoin fell back to $23,100 from $23,900. In general, the price of Bitcoin has shown a slight downward trend in recent days.

Is This the Expected Market Correction?

In the last few days, there has been talk about the fact that the market could correct itself again, after the price of Bitcoin had risen towards $25,000. There were some factors that have favored such a drop in prices:

First, Since the resistance at $25,000 failed several times, it is possible that the probability of a correction increased.

Second, Bitcoin’s rise above $24,000 occurred at a time when the market situation spoke more of a bearish move (barely any movement in stocks, US dollar strengthening).

Currently, it looks like this is the overdue fix. The Bitcoin crash, which has also been predicted in recent weeks, could come, while it seems increasingly unlikely over time.

Bitcoin Price Drops Below $20,000?

The Bitcoin price fell between 3 and 4 percent in the last few days. This is still a long way from a Bitcoin crash. However, a drop towards $20,000 may be seen again.

Forex markets and leverage trading could ensure that speculative selling will resume. That could well push the price of Bitcoin to $20,000. However, the longer-term price action makes it very likely that we will no longer go towards the $15,000 low, and that the price will move closer to $30,000 over the medium term.

It should be remembered that last June, when the price of Bitcoin also fell below $20,000, Cesare Fracassi, a professor of finance at the University of Texas at Austin and who heads the school’s Blockchain Initiative, thinks that the fall of bitcoin by below the psychological threshold is nothing to write home about. Instead, he said back then, the focus should be on recent news about lending platforms.

All in all, despite their fluctuations in the market, cryptocurrencies spark interest as alternatives to deal with a world economy that faces various challenges such as inflation, the Russo-Ukrainian war, the impact on supply chains due to the coronavirus pandemic, and other elements. It is worth considering, though, that none of the cryptocurrencies that exist today are backed by any monetary authority, so they are not regulated, do not guarantee protection or security to those who use them, and are highly risky investments.

By Audy Castaneda

Call of Duty Publisher Leak, Coinbase Employee Phishing, and Other Cybersecurity Events

Audy Castañeda
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<strong>Call of Duty Publisher Leak, Coinbase Employee Phishing, and Other Cybersecurity Events</strong>

The most important news from the world of cybersecurity of the week have been compiled.

Among the news from the world of cybersecurity, the following are the highlights:

  • Coinbase employees fell victim to SMS phishing.
  • The FBI has detected malicious activity on the internal network.
  • The release schedule for Call of Duty updates has been leaked to the public.
  • GoDaddy has reported years of compromised systems.

Below are the details.

Coinbase Employees Became Victim of SMS Phishing

On February 17, cryptocurrency exchange Coinbase announced that its employees fell victim to an SMS phishing campaign. The incident occurred on February 5.

The targeted workers received text messages about the urgent need to log into their account using the provided link. One of the recipients clicked on it, entered a username and password. installed on the 2FA account, the attackers managed by calling the employee on behalf of the IT department. The victim followed the instructions and logged into his device.

The suspicious activity was detected by Coinbase security, which promptly locked down the compromised account.

The attacker managed to obtain limited contact information from the employees, including names, email addresses and phone numbers. At the same time, the exchange ensured that customer data and their funds were not affected.

Coinbase suggested that the hacking group 0ktapus, also known as the Scattered Spider, was behind the attack, which accounted for at least 130 similar attacks on other organizations.

The FBI has Detected Malicious Activity on the Internal Network

On February 17, an unknown attacker hacked into the computer system at the FBI headquarters in New York. CNN reports it.

According to people familiar with the matter, the affected segment was used to investigate crimes related to the sexual exploitation of children.

According to the agency, this was a unique incident, which was quickly located. The FBI did not provide any other comment on the investigation, including on the sources of the threat.

Call of Duty Update Schedule Leaked Online

Game developer and publisher Activision has confirmed unauthorized access to one of its internal Slack channels and data theft. The incident occurred in December 2022, but was made public only after a report from Vx-underground researchers.

According to Insider Gaming’s findings, the leak includes full names, email addresses, phone numbers, salaries, and other employee data. In addition, the compromised Activision specialist, according to journalists, works in the personnel department and has access to a large amount of confidential information.

GoDaddy Reported Years of Compromised Systems

According to the company, unknown parties compromised cPanel’s shared hosting environment, stole source code, and installed malware on its servers.

GoDaddy noted that the attack was carried out by an organized group that targeted hosting providers around the world. Their task was to infect sites with malware for phishing campaigns, and other malicious activities.

By Audy Castaneda

BTC Fear and Greed Index Approaches the Fear Zone, Indicating Bearish BTC

Audy Castañeda
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0
<strong>BTC Fear and Greed Index Approaches the Fear Zone, Indicating Bearish BTC</strong>

It was a bearish Friday, with BTC tumbling 3.13% to end the day at $23,200. US inflation numbers, and hawkish Fed talk sent the NASDAQ Composite Index and BTC into the red. The Fear and Greed Index responded to the threat of a more hawkish Fed policy outlook, falling from 53/100 to 52/100.

On Friday, bitcoin (BTC) fell 3.13%. Following a 1.00% loss on Thursday, BTC ended the day at $23,200. The bearish session sent BTC below $23,000 for the first time in nine sessions. BTC extended its losing streak to four sessions.

A bullish start to the day saw BTC rally to an early morning high of $24,150. Failing to reach the first major resistance level (R1) at $24,493, BTC fell to a late low of $22,873. BTC briefly fell through the first major support level (S1) at $23,515 and briefly through the second major support level (S2) at $23,079 before ending the day at $23,200.

US Economic Indicators Rekindle Fed Fears Despite Buyers’ Appetite

Investors on Friday shifted focus from heightened regulatory scrutiny to the US economic calendar. US inflation, spending and personal income figures were in the spotlight.

Prior to Friday’s data, the latest round of US economic indicators had fueled bets for a more hawkish Fed rate path to bring inflation on target. Friday’s statistics and Fed talk lined up with market fears.

The core PCE price index dashed hopes that the Fed would make progress in reining in inflation, rising to 4.7% in January, from an upwardly revised 4.6% in December. Economists forecast an increase of 4.3%.

Personal income and spending figures also rose, adding to the bearish mood.

Bitcoin (BTC) Price Action – Technical Indicators

BTC needs to move through the $23,408 pivot to target the first major resistance level (R1) at $23,942 and Friday’s high of $24,150. A return to $24,000 would signal a breakout session. Crypto news wires need to be crypto-friendly to support a prolonged rally.

In the event of a prolonged rally, BTC would likely test the second major resistance level (R2) at $24,685 and resistance at $25,500. The third major resistance level (R3) sits at $25,962.

Looking at the EMAs and the 4-hour candlestick chart, it was a bearish sign. BTC sat below the 100-day EMA ($23,608). The 50-day EMA closed above the 100-day EMA, with the 100-day EMA lowering back to the 200-day EMA, providing bearish signals.

A move through the 100-day EMA ($23,608) would support a break of the 50-day EMA ($23,919) and R1 ($23,942) to target R2 ($24,685) and $25,000. However, a drop through the 200-day EMA ($22,841) and S1 ($22,665) would give the bears a run at S2 ($22,131). A move through the 50-day EMA ($23,919) would send a bullish signal.

By Audy Castaneda

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