Connect with us

Blockchain

TA: Top 5 Crypto You Should Watch This Week

Avatar Of Rajesh Khanna

Published

on

Ta: Top 5 Crypto You Should Watch This Week
google news

Top 5 Crypto You Should Watch This Week, with many crypto altcoins producing price gains of two or more digits.

The recovery has sparked the excitement and belief that the bottom could be in for many crypto assets with the hope of a bull run in a short time. Let us discuss the top 5 crypto assets you should watch this week. 

Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and never invest more than what you can afford to lose.

Bitcoin (BTC) Price Analysis As A Top 5 Crypto

BTC Price Analysis On | Source: BTCUSDT On Tradingview.com

From the chart, the price of BTC has continued to show bullish strength after retesting the price of $25,200 and was rejected from that region.

BTC is currently trading at $24,170 at the point of writing this article. The price of BTC is in a rising wedge; a breakout above the wedge could see the price of BTC going to the region of $27,000 – $28,500.

A breakout below this rising wedge could see the price of BTC retesting the support region of $21,400.

Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart

1660570704 81 Ta Top 5 Crypto You Should Watch This Week
ETH Daily Price Chart | Source On Tradingview.com

The price of Ethereum has outperformed BTC in the past few days after showing bullish strength to a region of $2,000.

ETH price was rejected from $2,000 with what seems to be a resistance for ETH price to trend higher. 

The price of ETH is trading above the 50 Exponential Moving Average (EMA) at $1,886 at the point of writing. 

If the ETH price maintains its bullish structure, we could see the price breaking $2,000 to a region of $2,500, but If ETH gets rejected, the price of $1,622 corresponds to the 50 EMA, which would be good support for the ETH price.

Price Analysis Of Binance Coin (BNB) On The Daily (1D) Chart

1660570704 227 Ta Top 5 Crypto You Should Watch This Week
BNB Daily Price Chart | Source On Tradingview.com

The price of BNB was rejected from its resistance of $327 and is currently trading at $316.

BNB has maintained its bullish structure despite the rejection. A break of about $327 could see the price of BNB retesting the region of $388.

If the price of BNB gets rejected, the price of $286 that corresponds to the 50 EMA will act as a support.

Price Analysis Of Sand Box (SAND) On The Daily (1D) Chart

1660570704 448 Ta Top 5 Crypto You Should Watch This Week
SAND Daily Price Chart | Source On Tradingview.com

The price of SAND has continued to struggle above $1.3 support which corresponds to the 50 EMA; a break below this region could see the price of SAND retesting $1.18.

If the price of SAND breaks above the resistance of $1.4, we could see the price trending higher to a region of $2.

STEPN (GMT) Price Analysis As A Top 5 Crypto

1660570704 830 Ta Top 5 Crypto You Should Watch This Week
GMT Daily Price Chart | Source On Tradingview.com

GMT has formed a bullish wedge as prices continue to range and bullish strength ahead of a breakout. A breakout to the upside could see the price of GMT trending to a region of $1.5.

The trendline on the daily chart for GMT price acts as support.

Featured image from Cryptimi, Charts from TradingView.com
google news
Advertisement

Blockchain

CertiK Uncovers Suspicious $2.4M Payments Into Tornado Cash

Avatar Of Rajesh Khanna

Published

on

Certik Uncovers Suspicious $2.4M Payments Into Tornado Cash
google news
  • The money movement is linked to the October 2021 BXH Exchange breach.
  • GitHub reinstated the Tornado Cash code in “read-only” mode.

On Saturday, crypto security company CertiK said that it had uncovered a suspicious $2.4 million payment into the cryptocurrency mixer Tornado Cash. Information suggests the money movement is connected to the October 2021 BXH Exchange breach. It resulted in a loss of $139 million. Although the U.S. Treasury’s Office of Foreign Asset Control (OFAC) has placed sanctions on the crypto mixer. However, the exchange is still being used to move money.

The theft of over 4,000 ETH worth $139 million from the BXH Exchange at the end of October is likely connected to the transfer of funds.

Hackers Defying Sanctions

The address 0x158F5 is held by a third party and used the Binance Smart Chain and Avalanche staking contract’s privileged method to retrieve staked tokens and withdraw cash. The tokens were then transferred to Ethereum using the address.

CertiK reports that the staking contract holding the funds and locations was previously released by a Telegram group formed by persons affected by the BXH Exchange. Tokens with a bridging ERC-20 standard were converted to ETH at the address in question. To date, almost $2.4 million in value has been transferred into Tornado Cash, represented by 1865 ETH tokens.

Even after the Office of Foreign Asset Control at the U.S. Treasury banned suspicious transactions on Tornado Cash in August, the service is still accepting them. The crypto mixer platform has just received a transfer of 500 thousand DAI from EOA 0x0B789. The money transfer was associated with an exploit in DAO Maker.

After receiving confirmation from the Office of Foreign Asset Control of the United States Treasury, GitHub reinstated the Tornado Cash code in “read-only” mode.

Recommended For You:

Tornado Cash Back on GitHub Despite Sanction by U.S

google news
Continue Reading

Blockchain

Whale Alert: 270 Million XRP ($130M) Bought by Whales

Avatar Of Rajesh Khanna

Published

on

Ripple (Xrp) Price Jumps To New Four-Month High
google news
  • The largest ever buy was on the Bitso crypto market for 54.1 million XRP.
  • XRP prices have increased by around 50% during the last week.

The native XRP token of Ripple has seen the most growth over the previous seven days. While Bitcoin and Ethereum have both had big price declines recently, XRP has seen a sharp increase. The current price increase of XRP may be attributed to a number of factors. Whales hoarding Ripple tokens is one instance.

Tokens worth around $130.2 million in XRP, almost 270M XRP have been transmitted from several cryptocurrency exchanges to many unknown addresses in the past 24 hours, according to data from Whale Alert. The largest ever buy was on the Bitso crypto market for 54.1 million XRP. Approximately $27.5 million worth of XRP coins were purchased by Whale all at once.

High Volatility Expected After Judgement

However, whales have been buying up XRP on the Bitstamp platform to the tune of nearly $84.1 million. To their XRP holdings, whales have just added more than $41.4 million over many trades. Meanwhile, a massive transaction involving 132 million XRP (about $62.1 million) was also spotted by the whale tracker.

Since the SEC and Ripple submitted their summary judgement papers, there has been a dramatic increase in the whale stockpiling of XRP tokens. The current increase was caused by new court documents. It also noted a surge in the number of active addresses holding between 1 and 10 million XRP tokens in late 2022.

On the other hand, XRP prices have increased by around 50% during the last week. Since word of the case’s resolution circulated favorably across the market, this is the result. At this moment, the price of XRP is $0.5015 as per CMC.

Recommended For You:

XRP Investors Optimistic Following Summary Judgement Filing

google news
Continue Reading

Blockchain

California Governor Vetoes Crypto Regulation Bill

Avatar Of Rajesh Khanna

Published

on

Following Aftermath Of Recent Slump Bitpanda Announces Workforce Layoff
google news