COINOTAG news, on September 17, Matrixport unveiled its latest chart analysis, highlighting that the inflow of funds into the US Bitcoin spot ETF has decelerated as anticipated, given that September
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Binance Seeks Release of Jailed Employee Before Pursuing Nigerian License
Binance has made the release of Tigran Gambaryan a condition for seeking registration in Nigeria. The exchange is reluctant to register due to outstanding issues with the government. It reportedly believes the SEC’s hastily formulated framework is not supported by law. Despite this, Binance reportedly remains popular among Nigerian users. Binance Conditions License Application on CoinOtag
Ethereum Trails Bitcoin, But Bullish Momentum Gains Strength
Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance. Ethereum started another increase from the $2,280 resistance. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,420 resistance to continue higher in the near term. Ethereum Price Aims Higher Ethereum price formed a base near $2,280 and started a fresh increase like Bitcoin. ETH was able to clear the $2,320 and $2,350 resistance levels. BTC gained over 5% but ETH struggled to match the strength. It cleared the 76.4% Fib retracement level of the downward wave from the $2,392 swing high to the $2,277 low. It even traded above the $2,392 high and is now showing positive signs. Ethereum price is now trading above $2,350 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,420 level. It is close to the 1.236 Fib extension level of the downward wave from the $2,392 swing high to the $2,277 low. The first major resistance is near the $2,450 level. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750. Are Dips Supported In ETH? If Ethereum fails to clear the $2,420 resistance, it could start another decline in the near term. Initial support on the downside is near $2,365. The first major support sits near the $2,310 zone and the trend line zone. A clear move below the $2,310 support might push the price toward $2,280. Any more losses might send the price toward the $2,220 support level in the near term. The next key support sits at $2,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,310 Major Resistance Level – $2,420 CoinOtag