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Day: March 21, 2023

Ethereum Price Grinds Lower and Turns At Risk of A Larger Decline

Ethereum Price Grinds Lower and Turns At Risk of A Larger Decline

In relation to the US dollar, the price of ether is stumbling and falling from the $1,840 resistance level; it is currently trading below $1,750 and the 100 hourly simple moving average. On the hourly chart of ETH/USD, there is a break below a significant bullish trend line with support close to $1,765. If there is a clear move below the $720 support, the pair may decline even further. Although resistance is present near $1,755 and the 23.6% Fib retracement level of the most recent decline, the price of Ethereum is currently trading below $1,750 and the 100 hourly simple moving average. The price may continue to decline if it fails to overcome the next significant resistance, which is located close to the $1,780 area. News sorce

Biggest Movers: SOL Over 8% Higher to Start the Week

Biggest Movers: SOL Over 8% Higher to Start the Week

As a result of the global banking crisis driving investors to cryptocurrencies, Solana (SOL) and Chainlink (LINK) both increased by as much as 8% to start the week. The intraday highs for SOL/USD and LINK/USD were both $23.83 for SOL and $7.38 for LINK, respectively. As of right now, LINK is trading nearly 10% higher than it was at the same point last week, while Solana has reached its highest point since late-February. News Sorce

Crypto Fear and Greed Index hits highest level since Bitcoin’s all-time high

Crypto Fear and Greed Index hits highest level since Bitcoin’s all-time high

The Crypto Fear and Greed Index has hit its highest level since Bitcoin’s all-time high, placing it firmly within the “Greed” territory. Since the demise of Silicon Valley Bank and the repercussions for the conventional financial system, sentiment towards the cryptocurrency market has been bullish. Bitcoin has been predicted to reach $36,000 in the next few months, with Charles Edwards predicting an even more ambitious price target of $100,000 in 2023. The failure of banks and modifications to federal monetary policies, according to Ryan Selkis, founder and CEO of the crypto analytics company Messari, could lead to BTC reaching this level. Bitcoin has gained 51% in year-to-date absolute returns, according to Goldman Sachs, making it the best performing asset this year. News Sorce