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Filing Bankruptcy on Student Loans – I Don’t Think So

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Over the last 20 years, the US has put a high priority on higher education. Everyone wants their kids to go to an Ivy league university and get a high-paying job after graduation. The only problem with this theory is it doesn’t work. There aren’t any high paying jobs available to college graduates these days. In fact, the unemployment rate of new college graduates is around 40% when these kids get out of school. To add insult to injury, they will be burdened with student loans from this expensive education. Many unaware young adults think they can file for bankruptcy and eliminate these loans, not so. Sure education is good but not when it leads to filing bankruptcy. The problem is when young adults are saddled with student loans, the minimum wage job they can get isn’t enough to help them survive. So now you have a new generation of college graduates sleeping on mom’s couch while they’re filing for bankruptcy to get rid of other debt they can’t afford to pay because of the student loans.

Many of these students continue their education to avoid paying the student loans. There are many young college graduates applying at big-box retailers that have PhD’s and master’s degrees. It’s not that they didn’t want to get out of school and get a job, but when they found out that no jobs were available, they double downed and went back to school to further their education. One thing that many people don’t know is student loans aren’t paid back while the individual is going to school. So many are now becoming professional students as they’re racking up huge amounts of debt. The student loan debt has gotten to such exorbitant amounts, it is now called a bubble by many experts. This debt has now surpassed $1 trillion in the US. This is just plain old crazy, what happened to the days when kids went to junior college for two years and transferred to a four year university, working their way through school waiting tables. Back in those days, kids emerged from school being debt free. There are multiple people here to blame when it comes to this topic. First, there has been a high priority but on higher education all the way from K. through 12. It has been pounded into the kids heads that they won’t be anything unless they get an expensive education. Second, the government has made these guaranteed loans available for anyone and everyone that asks for one. Consequently, many of these individuals don’t realize what they’re getting into and find themselves changing careers early in life while not making enough money to live and pay these loans back.

Now, when a young in debt adult decides to file bankruptcy, the first question they will ask the bankruptcy attorney, is it possible to wipe out student loans in the bankruptcy discharge? When the bankruptcy attorney says no, they will probably follow up with they heard it was possible because they read it on the Internet. Technically, it is possible, but the burden of proof is pretty extreme for an individual to be able to include them in their bankruptcy filing. The person will need to show that they never will be able to pay these loans off. So as a rule of thumb, a bankruptcy attorney will look at the person’s age and physical condition. Just because someone can’t get a job isn’t a good enough reason to discharge these loans. Usually, it will take someone suffering a catastrophic accident or illness where they become disabled or someone is becoming elderly and no longer in the job market. It’s probably much easier to find the elusive Chupacabra in the wilderness. In other words, it’s next to impossible to file bankruptcy on student loans.

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Top Gainer Of The Day In The Market: PERP

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Top Gainer Of The Day In The Market: PERP
  • The top gainer cryptocurrency of the day is PERP.
  • PERP has surged nearly 60% within the past 24-hours.
  • The platform understands the importance of new partnerships and updates.

Among the growing technology, blockchain is the significant tech that is integrated into most of the platforms. Blockchain technology offers users security and high-speed transactions at a low cost. Significantly, one of the use cases of blockchain technology is decentralized exchange. DEX has also risen in popularity and adoption.

DEX is a type of crypto exchange that allows transactions directly via online securely without intermediaries. As it does not require a third party or intermediary, DEX has captured the interest of investors to choose this technology. Similarly, Perpetual Protocol (PERP) is also a decentralized exchange that has been listed as the top gainer of the day.

Perpetual Protocol is a decentralized exchange (DEX) that offers highly efficient liquidity provisioning as well as up to 10x leverage for makers and takers. The goal of PERP is to make powerful trading tools more available to the general public.

Current Market Status

At the time of writing, the trading price of PERP is $17.15 with a trading volume of $283,119,944 in the past 24-hours. According to Coinmarketcap, the price value of PERP has soared to 58.63% within a day and holds 81st rank. Moreover, the current circulating supply of PERP coins is 68,700,000.

Trading Chart of PERP

The chart displays the bullish pattern for the past 24-hours. The price value of PERP has skyrocketed from $10.67 to $18.85 within a day. With the 7-day statistics, the price has risen to 22% but however, PERP’s price is still 30% lower than its ATH. Moreover, it is available in top exchanges like Binance, Mandala Exchange, OKEx, FTX, and ZT.

Furthermore, PERP made it to reach this level with so much effort from its network. The platform has covered the attention of seekers in the crypto market which led to price hikes. Moreover, on September 25, Perpetual Protocol conducted an AMA session on “why partnership and integration”.

As a matter of fact, the platform focuses on building new partnerships and integrating technology as well as features to its ecosystem. Thus, the advancements and updates from the network might grab the attention of investors which results in a price surge. However, the users had their sweet spot for the past couple of days and they expect more highs. If the trend continues then it may also crack its ATH level and set-up a new all-time high.

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Debt Consolidation Loans: Taking Control Of Your Credit Card Debts

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As anyone who has ever owned credit cards will attest, card debt can build with surprising speed. It only takes a few months of missed payments to create a card balance that is almost too much to handle. But when it happens, there is a solution. A debt consolidation loan can clear it all in one payment.

The challenge of clearing unsecured credit card debt is admittedly a tough one, with the slightest delay increasing the scope of the undertaking. With the average American professional owning as many as 4 credit cards, it can mean a total debt of between $20,000 and $40,000

The only real solution is to swiftly clear the debt, so as to leave no room for any further delays. But is a debt consolidation program really the most effective solution to the problem?

The Nature Of Credit Card Debt

Credit cards are an essential tool for all of us. Even if we are not too fond of weekly shopping sprees and luxurious spending, we use cards to book cheaper air fares, hotel rooms and for bargain online shopping. The problem is that it is only a matter of time before a debt consolidation loan is needed to deal with the consequences of using the card.

Of course, clearing unsecured credit card debt is not cheap, but the advantage of using a single loan sum to do so is that the immediate debt is gone, and the replacement debt is easier to manage. For example, a $10,000 loan can be repaid over 3 years for much less per month than the minimum payment the card company would have demanded.

However, while a debt consolidation program seems ideal for dealing with credit cards, only personal discipline can keep any future card activity under control and prevent a similar situation from developing.

Added Advantage of Consolidation

Of course, there is more to clearing a debt than simply alleviating the immediate financial pressure. There are several positive aspects to getting a debt consolidation loan, with the potential to pay off more than just existing credit card debt means the financial situation can be improved completely.

When any debt is paid off, it is registered in your credit record and the credit score is adjusted. This means that by clearing unsecured credit card debt your future loan terms can be improved greatly. This includes a lower interest rate, and a high loan limit.

Also, by buying out the existing debts and replacing it with a more manageable debt structure, extra cash is actually freed up. This is especially true when the terms of the debt consolidation program include a longer loan term, with monthly repayments often 50% that of the original repayments combined.

Debt Consolidation Companies

There are two ways to secure a debt consolidation loan. The most obvious is to approach a lender – either traditional or online – and apply for a loan for the specific purpose of repaying existing debts. Generally, lenders are happy to accommodate, but the loan sum is usually limited so is fine for up to $30,000.

For larger debts, it is a good idea to approach a debt consolidation company. These companies take care of the smaller details involved, and sometimes negotiate reductions with the creditors. Also, clearing unsecured credit card debt is only part of the total sum covered, with personal loans and mortgages included, if desired.

Repayments are made to the company, which add on a fee for their services, and in some cases the debt consolidation program practically controls spending until the debt is cleared. However, the debt is cleared and that is the welcome point in the first place.

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Some Factors Bank Managers Consider Before Granting Loans

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There are many factors which may influence the granting of loans by most Bank Managers and a number of them are outlined below;

1. The type of Account The Customer operates: Although non-account owners get loans, loans are normally given to current account owners more than those who operate savings accounts.

2. The Amount Involved: If it is a large sum of loan, the Bank Manager will consider whether if such an amount is removed, it will not affect the financial standing of the bank.

3.The Past Financial Dealings of the Customer with the Bank: one with sound past financial dealings with a bank has a higher chance of getting a loan and vice versa.

4. The Purpose for which the loan will be used: financially yielding projects are considered more buy bank managers in order to make sure that the loan will be used for projects that will yield profit so that it will enable the borrower to repay the loan.

5.The Collateral Security Offered:These collateral securities which are fixed assets must be the things the bank can sell easily and more than the value of the loan given.

6. The Period of Repayment: The period of re-payment of such loan is very important because, the Bank would not want its loan to be tied down for a very long time in spite of the fact that it changes interest on the loan.

7. The Customers Referee: The referee must be one who is well known to the bank and who will guarantee that in case the borrower defaults or becomes insolvent, that he will repay the loan.

8. The Earning Power of The Customer: The person’s earnings vis-a-vis the amount to be given out as loan are some of the determining factors in granting and issuing loans.

9. The Sources of Re-payment: The Bank Managers will also like to know the possible sources the customer intending to borrow loans has for repaying the loan.

10. The Present Government Policy on Bank Lending: A Customer may fulfill all the “Conditions” but if government policy on lending is credit squeeze, the Bank will not grant the Loan and vice versa.

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Bitcoin – A Secure Investment for the Future

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Bitcoin is an online digital currency, just like a dollar or a pound but with a few exceptions. Introduced by Satoshi Nakamoto in 2009, Bitcoin engages in a peer-to-peer payment system where no intermediaries exist and goods can be securely transferred between any two people on the planet. It is associated with a heavy network of computers and the unit of currency for the Bitcoin system (appropriately called Bitcoin) can be simply acquired by joining the vast network. Bitcoin provides a fast cheap and secure transaction alternative but few are willing to take the jump for it. So the one million dollar question still lingers, is Bitcoin a secure investment?

Bitcoin is only a few years old, an interesting creation that has awed many and for the record, has attained a name in the top financial charts. Its popularity has spanned and it has led some of the top businesses like Virgin Galactic to consider it as an acceptable source of payment. Bitcoin prices increase at rates of up to 10% and continue to dominate as the alpha of the market and this has made many interested in investing in it.

Another special feature of Bitcoin is that it does not have a central bank and neither does a central government control it. It’s a global currency and its creation and existence lies behind a complex and geeky mathematical algorithm that enables it to shadow government related mishaps. Cases of political instability and government absurdities that plunge the economy down to shame and lead years of investments in a currency down the drain do not occur in the crypto-currency system. This creates a secure and friendly investment opportunity with low inflation risks.

The Downside

With an ever-amazing upside, crypto-currency also has its downs. As mentioned, this thing is still taking baby steps; and with that comes great uncertainties. Bitcoin prices are volatile; currently increasing sharply and can fluctuate at 30% to 40% in a month. The world is still surprised at its emergence and there exists very few Bitcoin holders and Bitcoin. This leads to unanswered questions and cold fear among people as investing in a new unpredictable ‘gold mine’ can yield devastating effects. Its newness brings forth lack of regulations and scares off potential investors.

The enigma surrounding the Bitcoin system is a major factor to be considered. Anything can happen and everyone participating in the Bitcoin market is on a high alert. China in December 2013 eliminated the use of Bitcoin and this led to a drastic drop to its value from $1240 to $576 in just three weeks. Programmers also determine the functionality of this global currency and many question the thought of risking their finances for some group of geeks. This prevents many from venturing into the system and increases the risk of Bitcoin investment ever so highly.

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Credit Card Origination – Automation

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Within the realm of credit card origination, automation is key. Financial institutions that can’t keep up with today’s increasingly time-sensitive consumer are going to lose that consumers business to an institution that can.The whole idea behind automation in credit card origination is speed.

Because credit cards’ simple nature and wide appeal, credit card origination is a high volume, low risk undertaking. In these types of situations, automation is crucial. Because they are comparatively low risk, credit cards can be automatically originated through a credit decisioning system with virtually no manual intervention. This allows financial institutions to dramatically increase the number of applications they can process without having to change their system or process at all.

Because credit cards are a popular, high volume business, financial institutions require an efficient automated process for originating, approving, and issuing credit card products. This means that every aspect of the credit card origination process must be fully streamlined so that the customer experience is as fast and easy as possible.

There are many credit decisioning solutions in the marketplace that meet the basic requirements for an automated origination system. However, there are additional requirements for an automated credit card origination system that are driven by the unique characteristics of credit card products as mentioned above.These requirements address the need for a credit card origination solution that is fast, streamlined, and comprehensive.

The first requirement that a credit card origination solution should support is Straight through Processing. Straight through Processing allows a decision engine to process credit card applications from beginning to end in a completely automated fashion. Any time a manual review is required, the system can drop the application into a manual review queue. Once the manual review is completed, the application can immediately be re-introduced into the automated process right were it left off. Straight through Processing allows financial institutions to efficiently process the high volume of applications generated by their credit card origination initiatives.

The second requirement involves the end of the credit card origination process. Once a customer is approved for the product and the account is booked to the appropriate system of record, the consumer wants to start using their new card. Unfortunately, most banks can’t fulfill this desire. The account may be created, but the consumer will not have the actual credit card for a couple weeks. Instant issuance allows consumers to start using the card the second after their account is created. Either by providing an interim credit card (like a receipt) or by actually printing off the final card at the point-of-sale, financial institutions can enable their customer to start utilizing their product immediately.

These two additional, credit card specific, requirement for an automated origination solution enable financial institutions to realize the best practices needed for the competitive credit card origination market.

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Alternative Ways to Avoid Payday Loan

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If you spend more than you earn on a regular basis, it is a bad practice. To overcome this situation, if you opt for a payday loan, it will be a “risky solution”. Payday loan companies often take the advantages of your need and lead you in debt trap.

The most obvious disadvantage of payday loan is High cost. The APR of payday loan varies between 400% to 800%. Think about your investments even on a high interest stock, you can get an annual return of 20% to 30% for investment on a stock although investments on stocks are considered as “high risk”.

So, consider about all the possible alternative ways before opting for a payday loan cash advance.

•Payday loan borrowing situation arises due to bad financial planning. I suggest you to prepare a realistic budget at the beginning of each month in order to keep the balance between your earnings and spending. Avoid unnecessary purchases. Also save some money each and every month. Your savings will be counted at the time of crisis. Consider taking help from a consumer credit counseling bureau.

•Ask your creditors to give you a favor by waiting until your next payday. If you can manage them to do so, you need not to borrow the loan and thus you can save 15-30 USD by not paying the loan interest!

•Use your credit card for making urgent payments. Usually credit card loan’s interest rate is very low; even you have to pay nothing as interest if you repay the loan within a month. Again you save $15-$30 by not paying the loan interest.

•Ask your banker or a credit union for a short-term loan. The costs of these loans are such that you can easily afford.

•Ask your employer to provide you with a portion of your salary as advance so that you can cope up with your emergency bills.

•Consider in borrowing money from your friends or relatives. Actually for a time lag of 1-2 weeks nobody will prefer not to provide you the money (I strongly believe so!) unless you had a bad credit history with him or her. Thus you will meet your money requirements with no interest charges at all! Also think about the harassments if you can’t be able to repay the loan at specific date to the payday lender!!

•Consider in making arrangements with your banker regarding withdrawal facility from your checking A/c in order to protect yourself from making extra charges on bounced checks. This facility costs you as little as $5.Sometimes no fee is needed at all!

•When you shop for credit, check the APR and other official charges of different credit offers. Thus you can avoid higher monthly charges with lower credit cost.

•Many social groups and communities provide urgent assistance either directly or by various social services programmes. For example, I can mention “Federal low income home emergency assistance programme” provides financial assistance to families with lower income.

•There are several loan companies who offer $500 to $100 loan to active in duty & retired military personnel. The APR of these military loans range from 34% to 40% which is 10 to 15 times cheaper than payday loan.

•There are also several Consumer finance companies that provide small consumer loans at a low APR of 60%, which is also cheaper than payday loans.

Do the homework when you are about to borrow a payday loan. Look for low interest payday loan. Gather all the knowledge about payday loan before borrowing it. For more detailed discussions on payday loan alternatives, visit [http://www.ampmcash.com/loan-alternative.html]. If you have any problem or query regarding payday loan, join our discussion board at [http://www.ampmcash.com/talk]

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Play To Earn & The New Leisure Economy – What are the Options?

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Play to Earn

In recent times, those in the DeFi and metaverse space have encountered yet another way in which ordinary people can earn considerable amounts of money on the blockchain. Coming in the form of play-to-earn communities, platforms such as Yield Guild Games (YGG) and UniX are early adopters of ecosystems that provide gamers in developing countries with these financial opportunities. Such business models, in theory, could utilize leisure as a way to help reduce unemployment around the world.

Although the idea of the play-to-earn model is still in its infancy, it is an idea that is turning heads. “PLAY-TO-EARN | NFT Gaming In The Philippines” is the title of an 18-minute documentary funded by YGG and created by Emfarsis Consulting about a group of people in the Philippines, a country that suffered unemployment as high as 40% during the pandemic. People in the Philippines had been playing Axie Infinity (a blockchain-based game that rewards its players) during the pandemic, discovering that they could earn two or three times the minimum wage by playing.

It is apparent that this new “Leisure Economy” could be the dawn of something huge. However, if you are considering joining a play-to-earn gaming guild, don’t let FOMO lead you down the path of making a decision too quickly. New investors in crypto, for instance, have a tendency to jump on the bandwagon of whatever is trending, without doing their own research. Let’s not forget the number of disappointed DOGE holders who filled their pockets with the popular token prior to Elon Musk’s SNL appearance, anticipating a surge in price, only for Musk’s remarks to send the value of the cryptocurrency down rather than up.

Evidently, when investing time or money in anything, it’s better to weigh up your options beforehand.

So what exactly are YGG and UniX offering players, and how do they differ?

Scholarships & Revenue

As the price of the NFT pets known as Axies needed to play the game has significantly increased, a profit-sharing model known as scholarships are issued to bring willing new players on board without them having to pay large amounts. UniX and YGG sell or lease their Axies to these new players, known as scholars, providing them with recruitment, coaching and management, in exchange for a percentage of the revenue they earn in the game. Yield Guild Games currently splits the revenue of its scholars in the following breakdown – 70% to the scholar, 10% to YGG, and 20% to a Community Manager. UniX, on the other hand, takes 50% – but don’t let that fool you. Comparing 8,000 scholars from both guilds, 4,000 from YGG produced 580K revenue, whereas 4,000 UNIX scholars would make 1.44 million.

 

Community & Governance

Decentralised Autonomous Organisations (DAO) like UniX and YGG issue governance tokens in order to establish levels of voting power among holders. Holders of these tokens will determine how the platform develops. Therefore, community-conscious players may want to consider who exactly the individuals are that have the highest investment in the platform. Although Yield Guild Games ensure that each investor of their Seed and Series A rounds are carefully selected for their depth of understanding of the play-to-earn model’s potential, they are largely composed of venture capitalist firms. Also, in terms of community size, while YGG’s Discord is approaching 60,000, UniX recently surpassed 130K.

 

UniX’s Charity & Educational Programme

UniX’s Scholar and Education programme has currently onboarded 1,000 people, giving them access to some of the best teachers from their native country. These teachers don’t only work with UniX Scholars, but also with their 100,000+ community. This free education programme intends to identify and place talented individuals in jobs in blockchain and companies that UniX already has partnerships with. Regular creative and research competitions are run throughout the community in order to scout talent while rewarding members with tokens and points that will later equate to either a scholarship or employment. Furthermore, through the UniX Foundation Fund, access to the education programme will be available to everyone and not just scholarship holders.

As the originator of the concept of playing to earn in developing countries, Yield Guild Games is a tempting prospect for newcomers to the metaverse’s leisure economy. However, with UniX’s own native play-to-earn game, Unity, currently, in the works, it will be interesting to see how much more the NFT and the play-to-earn market will shift in their favour going forward. However, one thing we do know is that it is good to shop around.

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ADA, Alonzo, And 200 Smart Frozen Contracts

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ADA, Alonzo, And 200 Smart Frozen Contracts

Amongst the madness in broader crypto, along with Cardano’s substantial volatility, the Alonzo hard fork update for ADA has sought to provide a solution to maintaining its powerhouse status, and continue to dominate the year.

This solution, though, has some twists and turns that leave the bulls hopeful and patient.

ADA And The Push To The Top

Cardano has had an amazing run this year with the new wave of crypto bulls ready to see what ADA will become. Dubbed the “Ethereum killer,” Cardano and it’s founder Charles Hoskinson seem confident that his team will and project will dominate to become the top dog. With Hoskinson’s recent comments that the DeFi space in Cardano’s ecosystem is currently ‘up for grabs,’ smart contracts with Cardano  have finally arrived. He also noted that DeFi is now seeing a second wave, and the winners of this move will feature both interoperability and liquidity, as well as the ability to move multi-chain, all with an easily predictable cost.

“The way we constructed Cardano was for that second wave” – Charles Hoskinson

The  founder of Cardano  has been one of the main individuals in crypto to express the need for more regulation, governance and much more throughout crypto, and he also understands decentralization is a major necessity. These reasons play a part in why Hoskinson and his team worked on designing Cardano, allowing it to fit and work perfectly with the second wave of DeFi.  With the Alonzo hard fork successfully launching, it made a new wave and push for anyone to add smart contracts to the blockchain with ease. How will this impact ADA?

Related Reading | Cardano Trends Down As ADA Is In Deep Danger

 

 

ADA: Currently trading at about $2.213 after big jump to $3.00. Source: ADA-USD on TradingView.com

200 Smart Contracts We Will Have To Wait To See

ADA has about 2,300 smart contracts loaded up and ready to go, but within that gang of contracts more than 200 of those won’t see the light of day just yet, according to Cointelegraph. Cardano has some game-changing contracts that remain time locked and unavailable to the public, and many of these very notable projects are not yet ready for the world. However, changing landscapes could come in to play that will change that. One of frozen few is GREED, a rewards token that is redistributing ADA back to holders and providing a new way to distribute and stream both live and recorded music.

This list also includes SingularityNET and Cardax – two notable projects with a lot eyes waiting to see what’s next as time progress. As things unfold and more countries address much-needed regulations to crypto currency, all we can do is sit and see whats next for these projects as we wait to find out who will join the list or make a debut.

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COINDEKS.ORG – Staking Aggregator Is a New Step in the Development of Blockchain Technologies and the DeFi Sector

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COINDEKS.ORG - Staking Aggregator Is a New Step in the Development of Blockchain Technologies and the DeFi Sector

The crisis of 2020 led to the fact that many countries lowered the refinancing rate in order to provide their economies with cheaper loans.

The economy needs money, cheap and affordable loans. All this has led to the fact that even countries with negative refinancing rates have appeared.

Negative rates mean free loans. However, negative rates lead to the fact that depositors have to pay for making deposits in banks. This contributes to a huge outflow of deposits from banks.

But people need to invest money somewhere. During the crisis, the shares of many companies fell and investments in securities also carried increased risk.

Therefore, more and more people are paying attention to the DeFi sector and to the opportunities that decentralized finance offers to the world.

DeFi unites people from all over the world, makes financial services accessible to everyone. Until now, banking and financial services are not available to many people.

People in the poorest countries, as well as the least protected segments of the population, are particularly suffering. DeFi makes financial services accessible to everyone, and DeFi is also a great opportunity to make money on staking and various financial tools.

Different DeFi platforms offer various conditions for staking, that is, receiving passive income for blocking their assets in wallets. Coindeks knows about different conditions for staking on various platforms. Knowing this feature, Coindeks has created a new and unique product on the market.

Coindeks.org is a DeFi staking and mining aggregator.

The system automatically analyzes the DeFi staking conditions on the leading DEX, and adds user tokens to the most profitable and secure directions.

Thanks to Coindeks, any user, regardless of his place of residence, citizenship and social status, receives the highest profit in DeFi staking.

Now users do not need to monitor the profits paid by different DeFi platforms in order to choose the most favorable and suitable investment conditions for themselves. The Coindeks platform will find the most profitable pools for all investments of its clients.

The platform carefully checks what other DeFi projects offer, closely monitoring the state of the market in order to choose the most favorable conditions for everyone.

The DeFi sector is developing very quickly and it is very difficult to keep track of all the opportunities that the market offers. This requires a lot of experience and time.

Now there are a huge number of new DeFi projects and it is difficult to understand them even for professionals. For beginners, it is almost impossible to check the variety of opportunities that the market offers.

Coindeks gives access to all the features of DeFi to all users, both experienced investors and traders, and beginners.

You can find out about all the tools of Coindeks by visiting our website (www.coindeks.org) and carefully studying it. Do not miss your chance to make money on the fastest, most profitable, promising and actively developing DeFi market.

COINDEKS operates under the laws of the United Kingdom. You can check this on the official website https://find-and-update.company-information.service.gov.uk/company/13526588

COINDEKS.ORG LTD does not charge any commissions from users, all services are free of charge. High passive earnings and zero commissions, we are the leaders in the market of the DEFI sector!

Learn more about our referral program here https://medium.com/@coindeksorg/coindeks-referral-and-bounty-programs-7fc0da74db65

Our team:

  • Co-founder Jeffrey D Abbott
  • Founder Edward Long
  • General Manager Margaret Straley
  • Blockchain Developer Sylvia Curry
  • Blockchain Developer Christopher Jackson
  • Blockchain Developer Reynold Parrish
  • Lawyer Tyrone Wood

Contact links:
Coindeks.org
https://twitter.com/Coindeksorg
https://medium.com/@coindeksorg
https://www.linkedin.com/in/sylvia-curry-coindeks
https://www.youtube.com/channel/UC_rwOMehE-tDVNQA6SFvL7w
https://t.me/coindeksorg

 

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TA: Ethereum Tops Near Key Juncture, Why Bulls Could Struggle

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Ethereum

Ethereum failed to clear a major hurdle near $3,165 against the US Dollar. ETH price is declining and it remains at a risk of a move below $2,800.

  • Ethereum started an upside correction above $3,000, but it failed near $3,165.
  • The price is now trading below $3,000 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,030 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend decline if it breaks the $2,900 support zone in the near term.

Ethereum Price Is Trimming Gains

Ethereum started a fresh increase from the $2,740 low, similar to bitcoin. ETH broke the $2,950 and $3,000 resistance levels. It also cleared the $3,100 level and the 100 hourly simple moving average.

However, the bears protected a major refection zone near $3,165. A high was formed near $3,165 and the price started a fresh decline. Ether price declined below the $3,100 and $3,050 support levels. The price even traded below the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.

It is now trading below $3,000 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $3,030 on the hourly chart of ETH/USD. On the upside, an immediate resistance is near the $3,000 level and the 100 hourly simple moving average.

Source: ETHUSD on TradingView.com

The first major resistance is near the $3,030 level. A break above $3,000 and $3,030 could lead the price towards the main breakout zone at $3,165. A close above the $3,165 resistance could push the price further higher towards $3,320.

More Losses in ETH?

If ethereum fails to continue higher above the $3,000 and $3,030 resistance levels, it could extend its decline. An initial support on the downside is near the $2,920 level.

The next major support seems to be forming near the $2,900 level. It is close to the 61.8% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high. If ether fails to stay above $2,900, it could accelerate lower towards the $2,740 swing low.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now well below the 50 level.

Major Support Level – $2,900

Major Resistance Level – $3,030

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