. Daily Crypto Analysis - SEC Delays, BlackRock Shifts, Cardano Rejects, Dogecoin Surges.

Daily Crypto Analysis – SEC Delays, BlackRock Shifts, Cardano Rejects, Dogecoin Surges.

Daily Crypto Analysis – SEC Delays, BlackRock Shifts, Cardano Rejects, Dogecoin Surges.

19 Dec 2023

Introduction

Welcome to today’s cryptocurrency market briefing. In this concise overview, we’ll highlight key developments and market insights for some of the prominent cryptocurrencies, including Ethereum (ETH), Bitcoin (BTC), Ripple (XRP), and Dogecoin (DOGE). Stay informed as we delve into the latest regulatory decisions, technical analyses, and notable trends shaping the crypto landscape. Whether you’re a seasoned investor or just getting started, join us for a quick update on what’s moving the markets today.

Markets In Focus Today – ETH/USD

SEC Delays Ethereum ETF Decisions Amid Public Input Requests

The Securities and Exchange Commission (SEC) has deferred decisions on several Ethereum-focused Exchange-Traded Funds (ETFs), including the Hashdex Nasdaq Ethereum ETF and Grayscale Ethereum Futures Trust. The SEC seeks public input on these ETFs, which cover both spot and futures contracts. Additionally, decisions on the VanEck Ethereum ETF and ARK 21Shares Ethereum ETF have also been delayed. The crypto industry awaits SEC approval for spot bitcoin ETFs, with public comments on the mentioned ETFs due in about 21 days.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 2238.60 | Positive Crossover | Bullish
  • MA 20 : 2213.79 | Positive Crossover | Bullish
  • MA 50 : 2090.63 | Positive Crossover | Bullish

Simple :

  • MA 10 : 2246.73 | Negative Crossover | Bearish
  • MA 20 : 2239.59 | Positive Crossover | Bullish
  • MA 50 : 2084.55 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 55.53 | Neutral Zone | Neutral

Stochastic   Oscillator : 33.08 | Neutral Zone | Neutral

Resistance   And Support Levels :

  • R1 : 2125.82 R2 : 2210.27
  • S1 : 1852.42 S2 : 1767.97

Overall Sentiment : Bullish Market Direction : Buy

Trade Suggestion : Limit Buy : 2200 | Take Profit : 2360 | Stop Loss : 2115

BTC/USD

BlackRock Amends S-1 Filing for Bitcoin ETF (IBIT)

BlackRock, the world’s largest asset manager, has updated its S-1 filing with the SEC, revealing changes in the creation and redemption mechanisms for its proposed Bitcoin ETF, identified by the ticker IBIT. The amendment signifies a strategic shift, as BlackRock transitions to a cash-only approach for creating new ETF shares, aligning with the SEC’s preference for cash transactions in ETFs. This move is part of broader industry trends, with other firms like ARK Invest, 21Shares, and Wisdomtree also amending their proposals for Bitcoin ETFs. The changes aim to streamline operations and address regulatory preferences before the holiday season.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 42355.12 | Positive Crossover | Bullish
  • MA 20 : 41617.92 | Positive Crossover | Bullish
  • MA 50 : 38784.67 | Positive Crossover | Bullish

Simple :

  • MA 10 : 42380.04 | Positive Crossover | Bullish
  • MA 20 : 42051.26 | Positive Crossover | Bullish
  • MA 50 : 38731.87 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 60.38 | Neutral Zone | Neutral

Stochastic   Oscillator : 47.80 | Neutral Zone | Neutral

Resistance   And Support Levels :

  • R1 : 43000 R2 : 45000
  • S1 : 35107.89 S2 : 34074.64

Overall Sentiment : Bullish Market Direction : Buy

Trade Suggestion : Limit Buy : 43000 | Take Profit : 45000 | Stop Loss : 42250

XRP

Charles Hoskinson Criticizes XRP Community and Rejects Partnership

Cardano founder Charles Hoskinson has once again voiced strong criticism against the XRP community, citing “two years of daily harassment” and reiterating the lack of technical overlap between Cardano and XRP. Hoskinson maintained his dismissive attitude toward Ripple, emphasizing that projects like Tezos, Algorand, Polkadot, Ethereum, and Cardano are working on similar problems, while Ripple serves a different purpose. His comments reflect a continued refusal of any partnership or technical synergy with XRP. Hoskinson also addressed conspiracy theories within the XRP community, calling for evidence-based discussions and emphasizing the need for factual information

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 0.62 | Negative Crossover | Bearish
  • MA 20 : 0.62 | Negative Crossover | Bearish
  • MA 50 : 0.61 | Negative Crossover | Bearish

Simple :

  • MA 10 : 0.62 | Negative Crossover | Bearish
  • MA 20 : 0.63 | Negative Crossover | Bearish
  • MA 50 : 0.63 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 44.62 | Neutral Zone | Neutral

Stochastic   Oscillator : 24.57 | Neutral Zone | Neutral

Resistance   And Support Levels :

  • R1 : 0.71 R2 : 0.75
  • S1 : 0.58 S2 : 0.54

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Buy : 0.58 | Take Profit : 0.54 | Stop Loss : 0.60

Dogecoin

Dogecoin’s On-Chain Metrics Signal Potential Rebound Amidst Lackluster Price Performance

While Dogecoin (DOGE) has underperformed major cryptocurrencies like Bitcoin, Ethereum, and Solana in 2023, its on-chain metrics are showing signs of a potential rebound. Despite being down from its all-time high, recent growth in Dogecoin’s Doginals (DRC-20 tokens) and a significant influx of new users suggest renewed interest. With over 282,000 non-zero balance addresses added in the past 30 days and active user engagement, DOGE might see a turnaround in 2024, breaking above $0.1 and potentially reaching $0.2.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 0.09 | Negative Crossover | Bearish
  • MA 20 : 0.09 | Positive Crossover | Bullish
  • MA 50 : 0.08 | Positive Crossover | Bullish

Simple :

  • MA 10 : 0.10 | Negative Crossover | Bearish
  • MA 20 : 0.09 | Negative Crossover | Bearish
  • MA 50 : 0.08 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 53.49 | Neutral Zone | Neutral

Stochastic   Oscillator : 29.94 | Neutral Zone | Neutral

Resistance   And Support Levels :

  • R1 : 0.09 R2 : 0.09
  • S1 : 0.07 S2 : 0.07

Overall Sentiment : Bullish Market Direction : Buy

Trade Suggestion : Limit Buy : 0.09 | Take Profit : 0.10 | Stop Loss : 0.08

Elsewhere In The Crypto Market

BTC/USD: $43,026.0, +4.42% SHIB/USD: $0.00001038, +4.01% ETH/USD: $2,244.05, +3.96% SAND/USD: $0.4975, +4.32% CRO/USD: $0.0982, +3.55% GALA/USD: $0.02936, +4.34% DOGE/USD: $0.092440, +3.19%

Key Economic Events & Data Release Today:

8:00PM(IST)-USD-FOMC Member Barkin Speaks