ETH\BTC - powerful potential for growth!
Firework!
- This morning, several management companies announced that they had received permission from the Hong Kong Securities and Futures Commission (SFC) to launch spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. Unlike the United States, where in January they launched similar funds only for Bitcoin, Hong Kong companies were approved to launch funds for the two largest crypto assets (BTC and ETH) at once.
Now we are waiting for news from the States about the adoption of their spot ETF for Ether. The deadline for consideration of applications for Ethereum ETFs is May.
- MetaMask announced the launch of a service for checking the availability of airdrops.
Crypto wallet MetaMask, in collaboration with the on-chain project Daylight, has introduced a new feature that allows users to find out whether tokens or NFTs are eligible for airdrops. The function is supported in such blockchains as Ethereum, Optimism, Arbitrum, Base, Zora and Polygon.
- The conversion affected in-game currency, vouchers and the total supply of NOT tokens. To make the token price easier to read, the Notcoin team removed three zeros. The denomination also applies to NOT tokens in the premarket.
Important events this week:
- Tomorrow the speech of the head of the Fed, Mr. Powell
- on Thursday, a report on the Number of initial applications for unemployment benefits.
1D Since the last review last Thursday, the cue ball failed to stay above the triangle ($69,900-70,000) after breaking through it, and the price fell under the triangle, falling slightly short of the March lows. After the downward breakdown of the triangle, today we are already seeing a retest of the recent inclined support. 4H To continue growth, is it advisable for buyers to go beyond the mirror resistance zone of $66,300-67,500? just breaking through 200DMA 4H and from here go further into growth, with possible preliminary trading. But for now we are now seeing a retest and a rebound. And today’s event is like a Bitcoin miner waking up after 14 years of hibernation and transferring 50 BTC from his address to the Coinbase exchange.
If this is not another manipulation, then in the near future we may see the sale of these bitcoins, which may lead to a continued fall in the price.
As the price moves below the $59,400-61,000 zone, the upward local structure will be broken and the decline may continue to at least $52,500. As we watch this week, we may see further impulses.
Ethereum, on the latest news about the approval of applications from several companies to launch spot Bitcoin Ethereum-ETF by the Hong Kong Securities and Futures Commission, has increased its value against#BTCby 3.1% over the past 24 hours. The local trend, for now, remains downward, but has almost approached global support, which may tell us about an imminent reversal and a fairly strong growth of Ether after the breakdown of downward resistance.
If the cue ball continues to decline, then Ether also has some room to fall before a powerful rebound, which will most likely occur after the cue ball halving. 1D On the ether chart, the price may well test the level of $2650, where the 200DMA 1D passes, which has not been tested for a long time.
