|

Crypto News Today: Still no fireworks from the Bitcoin halving event

  • Still no fireworks from the Bitcoin halving event.
  • Stellar outperforms pushing over 10% higher.
  • Telegram scraps the Gram token after intense pressure from US regulators.

The general sentiment in the crypto industry has been positive with most of the major coins moving higher. Bitcoin has once again been flirting with the 9K level which seems to be a magnet for price.  Bitcoin has pushed over 3.5% higher on Tuesday after Monday's halving event. The price had been anticipated to shoot higher by some analysts. Although there was no rocketing price the move higher in Tuesday's session has not been too shabby. 

Bitcoin levels
  • Stellar outperforms pushing over 10% higher.

Stellar has been one of the outperformers on the session. There is still some traffic in the way. The purple trendline is the next meaningful resistance and beyond that, the wave high at the top of the chart is next. 

The volume has also risen but interestingly it picked up during the sell-off. The relative strength index is also still looking bullish above the 50 mid-point. There is also space for a move back into the overbought zone as the signal line has moved south. 

Stellar Price Rise

It has been no secret that Telegram (messaging platform) has been in a mammoth battle with various US authorities to offer out Gram tokens to its users. Now Telegram CEO Pavel Durov has confirmed that the dream is over saying:

 
For the last 2,5 years some of our best engineers have been working on a next-generation blockchain platform called TON and a cryptocurrency we were going to name Gram. TON was designed to share the principles of decentralization pioneered by Bitcoin and Ethereum, but to be vastly superior to them in speed and scalability

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Ripple bulls eye another breakout with $1.70 in sight

Ripple (XRP) upholds a strong bullish outlook, while consolidating near $1.50 on Tuesday. A 72% rally last week pushed the token to $1.70 before it pulled back to seek support amid possible profit-taking and an overstretched market trend.

Polygon extends rally as bull market discovers steady network growth

Polygon (POL) advances to a steady recovery above $0.1200 on Tuesday for the fifth consecutive day, sustaining its 45% gains from last week. The Polygon network is witnessing steady growth in transaction activity and real economic value.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Bitcoin rally above $80,000 shows signs of overheating 

Bitcoin extends gains, trading above $80,000 at the time of writing on Tuesday following its strongest weekly rise in more than three years. Institutional demand continues to support this rally, with spot ETFs recording positive inflows on Monday.

Bitcoin: The US Treasury saves BTC

Bitcoin extends gains, trading above $77,000 on Friday after rallying over 20% and reaching its highest level since mid-May. Crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations, posting their 7th-largest liquidation event in history.