Table of Contents
- Bitcoin price action
- Ethereum - shaken but not stirred (too much)
- Tradecurve presents a solution needed now more than ever
After the lawsuits presented by Gensler and the SEC, the crypto market underwent a correction followed by a subsequent rebound to a lower level. Tradecurve is unaffected by the move, and the price is set to rise soon.
Bitcoin price action
Although the entire crypto market is down, including Bitcoin, BTC is the only coin that SEC chair Gary Gensler does not think is a security, based on the way the coins were mined and the level of decentralization. Nevertheless, Bitcoin still reacted to the news of the Binance and Coinbase lawsuits, on the 6th of June. Bitcoin’s price fell as low as $25,600, before rebounding to $27,216, correcting again, and is now going back up, and is currently trading at $26,666.
Based on the ongoing price action, Bitcoin exhibits a robust support level around $25,000, which closely aligns with the 61.8% Fibonacci retracement level derived from the rally spanning $10,000 to $65,000. Upholding its current level may catalyze a rebound, prompting Bitcoin to test resistance levels positioned at $30,000, $35,000, and $40,000. However, breaching this threshold could instigate a further sell-off, potentially pushing Bitcoin down to $20,000 or below.
Ethereum - shaken but not stirred (too much)
Ethereum was notably absent from the list of crypto currencies declared a security, and similarly saw a price reaction, falling to $1806 after the news, rebounding to $1895, and is, at time of writing, sitting at $1844.
Therefore, just as we have seen support for Bitcoin, Ethereum demonstrates a comparable support level around $1,800 where the bulls jumped in, in proximity to the 61.8% Fibonacci retracement level obtained from the surge in its history from $300 to $4,400.
If Ethereum upholds this level, it could trigger a recovery, propelling Ethereum towards resistance levels situated at $2,000, $2,500, and $3,000. Conversely, if this threshold is breached, Ethereum may experience a decline towards $1,500 or lower.
Tradecurve presents a solution needed now more than ever
In the wake of the SEC’s targeting of two of the biggest centralized exchanges, a new solution is needed. DEXes like PancakeSwap, Uniswap and Curve have experienced huge inflows of money as people look to store and trade their crypto on-chain.
However, although some of those exchanges offer things like leverage, none of them offer a professional trading terminal. Furthermore trades can be slow and slippage and spreads are sometimes quite high.
Tradecurve is the answer here as it offers everything that these DEXes lack, and more, using its hybrid exchange model, and built on the Ethereum blockchain. Leverage of 500:1 is available by using crypto as collateral.
Those who are worried about the recent attacks on centralized exchanges will be happy to know that as Tradecurve is built on the blockchain, it means your crypto is kept in your decentralized wallet, so no governmental agency can take it from you.
As they are based outside of the US, they are not subject to the rules and regulations stipulated by the SEC, and as such, KYC free trading is possible. This gives freedom and anonymity to traders, in a world that the SEC is increasingly trying to control.
TCRV is currently in presale at $0.015, having increased by 50% since stage 1. 50% is the magic number right now, or so it seems, as stage 3 is currently halfway sold out. The next stage of the presale will see it increase to $0.018. Crypto experts are predicting a rise of 80-100% after it leaves stage 8 of the presale.
Visit the links to get more information about Tradecurve and the TCRV token:
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.