Following the positive CPI release and inflation below expectations, the digital assets market entered short-term rally mode, with most assets breaking local resistance levels and reaching thresholds that markets have wanted to see for more than a month.The panic around Binance was the last thing the cryptocurrency market needed right now: the exchange was practically attacked from all sides after the report on Binance's 2018 investigation was released.
The second biggest cryptocurrency on the market successfully breached the 50-day moving average. It has been consolidating around there for two weeks now. A lack of network activity and a depressed burn rate were the two main reasons behind Ether's inability in the past to reach the resistance and gain a foothold above it.
With spiking network activity and the breakthrough, we expect an increased inflow of funds into Ethereum and the return of the burning power to the blockchain. has been gradually losing its power on the market and already lost around 70% of what it had gained previously. Today, we are seeing yet another indicator of fading and reversal — the divergence between the price and the volume.
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