Yield Farming and DeFi – Fundamentals Of Yield Farming Explained

Yield Farming In Defi

In this guide to yield farming, we will certainly check out some of the highlights and also qualities of this kind of investing. We will additionally check out yield farming strategies in addition to the advantages and also disadvantages of putting your funds at the disposal of a Decentralized Finance application.

Even people heavily involved in yield farming explain it as high-risk, with some confessing the full risks stay unidentified in these beginning. Nevertheless, as the majority of investors recognize, it’s in some cases essential to go outside of a convenience zone for making investment choices settle.

The cause of fatality was not right away known, however authorities said they did not suspect bad deed. The household later confirmed Tripathi`s death was a result of self-destruction. Reddit basic supervisor Martin later issued an apology for this actions, slamming the “on the internet WHAT IS DEFI (DECENTRALIZED FINANCE) witch hunts and also hazardous speculation” that occurred on the website.

How does the Blockchain work?

Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change.

Some of the DeFi protocols will certainly incentivize the farmer a lot more by permitting them to stake their liquidity provider or LP tokens representing their participation in a liquidity pool. It obtains a little bit a lot more complicated right here, and also it is worth reviewing this even more extensive tutorial on staking to recognize how it functions. A yield farming strategy intends to create a high yield on capital. The steps will certainly include lending, loaning, supplying capital to liquidity pools, or laying LP tokens. Yield farmers agree to take high dangers to strike dual or three-way figures APY returns. The finances they take are overcollateralized and vulnerable to liquidation if it goes down listed below a specific collateralization ratio threshold. There are likewise threats with the smart contract, such as pests and platform adjustments or strikes that try to drain liquidity pools.

Read more about liquidity mining here. Uniswap incentivizes liquidity providers to down payment into its pools by paying rewards from transactions utilizing those pools. If you`re already aware of the idea of betting as well as earning staking rewards, after that you`ll enjoy to know that yield farming is more or less the very same thing.

Is yield farming the same as staking?

Staking and yield farming are two entirely different worlds that have different goals and purposes. While yield farming focuses on gaining the highest yield possible, staking focuses on helping a blockchain network stay secure while earning rewards at the same time.

The information supplied here is for reference and also informational purposes only. This information is not planned as financial advice and readers comprehend that all dangers associated with DeFi as well as yield farming are taken on by the user themselves. Money market platform Aave uses debtors the capability to pick a secure rate of interest.

Philippines Central Bank To Soon Certify Crypto Financial Service Providers

The Philippines Central Bank, aka the Bangko Sentral ng Pilipinas (BSP), has issued a broader licensing regime that will include all cryptocurrency financial service providers within its regulatory purview.

Filipino virtual asset service providers (VASPs) will have to obtain a “certificate of authority” from the monetary regulator. Crypto services offering custodian services will require a minimum capital requirement of 50 million Philippine pesos (around $1 million). On the other hand, businesses without custody will need 10 million pesos ($208,000).

New Framework Designed To Curb Dishonest Practices

The BSP approved this new framework to strike against money laundering and terror financing practices using digital currencies. The documents mentioned in the document have been enacted in line with the Financial Action Task Force (FATF). Benjamin Diokno, the BSP head, said in a statement:

“We have seen accelerated growth in the use virtual currency exchanges in the past three years. It is high time that we broaden the scope of existing regulations in recognition of the evolving nature of this financial innovation and set out commensurate risk management expectations.”

What Else Does The Regulation Specify?

Along with complying with existing risk management rules imposed upon traditional financial services providers, the VASPs will also have to maintain due diligence on their customers. The companies will closely monitor parties that conduct transactions over 50,000 pesos ($1,000). Plus, single transactions that exceed 50,000 pesos will require extra diligence. According to the governor, this will “ensure that activities relating to virtual asset service providers are executed within an unbroken chain of regulated entities.”

BSP And CBDC – So Close Yet So Far

Last year, the BSP was closely researching central bank digital currencies (CBDC). Southeast Asia, in general, has been heavily researching digital and open finance. Singapore and Thailand, in particular, have a sophisticated electronic payment ecosystem in place. However, the BSP concluded from their studies that the Philippines still isn’t ready for CBDC implementation. According to them, further research is required on this subject.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Philippines Central Bank To Soon License Crypto Financial Service Providers
Sourced From: cryptodaily.co.uk/2021/01/philippines-crypto-regulation-license
Published Date: Tue, 26 Jan 2021 12:56:37 +0000

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https://naminco.ca/ternity-community-conserves-network-from-51-attack/

Æternity Community Conserves Network From 51% Attack

Æternity have today released a medium post which acknowledged their community as being responsible for thwarting off various attacks on the Æternity network, and helping to recuperate 29 million stolen Æ tokens in the process.

As of now, their development team is working hard to implement hyperchains and use Bitcoin as a parent chain to prevent future attacks.

Æternity Network And The Attacks Attacks

Æternity Network suffered from three major attacks in less than two months.

First attack: The first attack happened in the evening of December 5, when a group of miners began mining blocks for an unknown entity that controlled more than 51% of the hashrate. Clear communication and coordination between the miners and exchanges led to the entity getting blacklisted.

Second attack: On January 3, 2021, an attack was launched at the æternity Community Telegram group. The group became compromised and over 6.900 members were deleted. The community leaders analyzed the attacks and took the necessary security precautions. Less than two weeks later, 10% of the original 6,900 members have rejoined

Third attack: On January 8, there was a third attack wherein an unknown miner began to mine a secret chain and started to use the 29 million Æ that were stolen from the December attack. Their intention was to attempt a double-spend attack against exchanges. The community again coordinated with the exchanges, which eventually recuperated the 29 million tokens.

Æternity Community Comes Through In The Clutch

Not only has the community responded quickly to the issue, but they even rented out a substantial amount of their hashing power to neutralize the effect of the 51% attack and force the hacker to abandon the stolen tokens. The developers immediately informed the exchanges and mining pools of the attack to foster a spirit of direct, honest, and open communication.

Æternity To Implement Hyperchains Anchored To Bitcoin

Even before the attacks, the æternity Foundation started an initiative to implement hyperchains. Founder Yanislav Malahov believes that hyperchains will be critical in evolving the network’s privacy since they are proof-of-stake systems relying on proof-of-work networks for security.

“In this way, we can leverage the mainnet for PoW while also using PoS to improve privacy and scalability for the entire network.’’

Hyperchains are a simple way to prevent 51% attacks. The first version of the æternity hyperchains will be anchored to the Bitcoin network, which is the most secure PoW network in the world.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Æternity Community Saves Network From 51% Attack
Sourced From: cryptodaily.co.uk/2021/01/aeternity-community-attack
Published Date: Tue, 26 Jan 2021 12:56:33 +0000

Bitcoin Cost Analysis: Another Retest, Will Support Break and Press BTC Back To $26,000?

Another Black Monday: Bitcoin dropped by a steep 9% after failing to overcome resistance at $34K – $35. As of writing these lines, the drop recorded a daily low at $31,130 earlier this morning, according to Bitstamp.

This doesn’t happen for the first time – the primary cryptocurrency found support, provided by a short-term rising trend line that dated back to late-December 2020. Since then, BTC had seen a rebound back to the $32K price area, where it is trading as of writing these lines.

So far in January, the coin has bounced three times from this support line over the past five days. Will it continue to hold? We have yet to see.

Looking at the bigger picture, Bitcoin price remains inside the boundaries of a descending bearish triangle pattern and has mainly been rangebound between $33,000 and $30,750 over the last five days of trading. One of these boundaries will need to break, on a daily timeframe, to dictate the next direction for Bitcoin.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $31,400, $31,000, $30,760, $30,000, $29,630.

Key Resistance Levels: $32,500, $33,100, $34,000,$34,450, $35,000.

Looking ahead, the first level of resistance now lies at $32,500. This is followed by $33,110 (bearish .382 Fib), $34,000, and $34,450 (bearish .5 Fib). Additional resistance lies at $35,000 (upper angle of triangle and yesterday’s high) and $35,800 (bearish .618 Fib).

On the other side, the first level of support lies at the short term rising trend line at $31,400. This is followed by support at $31,000 – along with today’s low, $30,760 (short term .786 Fib), $30,000 (base of descending triangle), and $29,630. Further below lies $28,800 (last week’s low), followed by further support of $26K.

The daily RSI remains in the bearish territory as the buyers fail to establish any momentum since breaking the previous symmetrical triangle pattern on January 21st.

Bitstamp BTC/USD Daily Chart

BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

BTC/USD 4-Hour Chart. Source: TradingViewTitle: Bitcoin Price Analysis: Another Retest, Will Support Break and Push BTC Back To $26,000?
Sourced From: cryptopotato.com/bitcoin-price-analysis-another-retest-will-support-break-and-push-btc-back-to-26000/
Published Date: Tue, 26 Jan 2021 12:56:20 +0000

Reason For Bitcoin’s Dump? Miners Recognize Revenues Since BTC Hit $42K.

Bitcoin has been in somewhat of a slump over the past few days as the price doesn’t seem to be able to kick-off and reclaim the previous highs.

One possible reason for this could be the fact that bitcoin miners have been realizing profits since the price hit its all-time high at $42,000, according to the CEO of cryptocurrency analytics company CryptoQuant. Data also shows that there are many investors sitting on the sidelines, waiting for a clearer market direction.

Bitcoin in a Slump as Price Fails to Recover

Things are not looking very good for Bitcoin’s price at this point in time. It appears that its dollar value is unable to recover. The cryptocurrency crashed on January 21nd, dipping below $30K and even though it attempted to reclaim some of the previous resistance levels, it doesn’t seem able right now.

One possible reason for this could be the fact that BTC miners have been realizing profits ever since the cryptocurrency reached its ATH at $42,000. That’s according to the CEO of CryptoQuant – a crypto analytics company.

Speaking on the matter, Ki Young Ju said:

BTC Miners’ Position Index hit the 8-year high.

They’ve been moving an unusual amount of Bitcoins lately. It seems they’re continuously realizing profits since 42K.

This is one of the reasons why I keep my bearish bias.

Miners Position Index. Source: CryptoQuant

Indeed, looking at the above chart, we can see that the index is at a high that we didn’t even see when Bitcoin had its parabolic run back in 2017.

People Sitting on the Sidelines

On another note, it also appears that the amount of stablecoins sitting on exchanges right now is at an all-time high. According to CryptoQuant, there’s around $4.16 billion in stablecoins that’s on the sidelines.

All #Stablecoins reserve for all exchanges just hit the all-time high.

Chart ? https://t.co/o6brPZy1eI pic.twitter.com/JsSygVyU8L

— CryptoQuant.com (@cryptoquant_com) January 26, 2021

As CryptoPotato reported earlier today, this was yet another black Monday on the cryptocurrency market as almost all large-cap coins are painted in red. When it comes to Bitcoin, the first level of resistance at the current rate lies at around $32,500, followed by the bearish .382 Fibonacci level of $33,100. On the other hand, if the price starts to trend towards the downside, the first level of support would be $31,000.

Title: Reason For Bitcoin’s Dump? Miners Realize Profits Since BTC Hit $42K
Sourced From: cryptopotato.com/reason-for-bitcoins-dump-miners-realize-profits-since-btc-hit-42k/
Published Date: Tue, 26 Jan 2021 12:56:10 +0000

Bitmain Saga Over: Jihan Wu Steps Down as CEO

​Bitmain co-founder Jihan Wu officially announced his resignation in a signed statement published on Tuesday.An excerpt from Wu’s cryptographic message reads: “The disagreement between Micree and myself, the two co-founders of Bitmain, has been finally settled in an amicable and, more importantly, a constructive manner.”As part of the settlement, fellow co-founder and rival Micree Zhan bought out Wu’s ownership equity valued at $600 million.According to Wu’s statement, two-third of that sum ($400 million) was raised via a loan from the company. The development confirms earlier reports from news sources in China saying the Bitmain power tussle saga was close to its conclusion in an amicable settlement between the parties.The  Bitmain saga began in 2019, with the co-founders initially forced to step down. Wu later returned to the scene and attempted to boot Zhan from the company.At the zenith of the squabble, Zhan reportedly stormed Bitmain’s office in Beijing with private guards.Wu’s exit also sees him gain full control of Bitmain’s mining establishments outside China. Bitdeer now becomes a separate entity from the popular crypto mining maker and oversees mining interests in Norway and the U.S.Zhan will be left in charge of the Antpool mining pool as well as Bitmain’s mining activities in China. Zhan also heads Bitmain’s artificial intelligence (AI) enterprise.Despite his exit, Wu will still have powers to nominate two people into Bitmain’s five-person board in the lead up to the company’s latest attempt at an initial public offering.Commenting on Bitmain’s structure moving forward, Wu noted: “Through the above-mentioned arrangement, Bitmain’s business model will be highly streamlined, which will make it much easier to go for an IPO.”Bitmain’s first initial public offering (IPO) filing in Hong Kong fell through in 2018 following disapproval from the Hong Kong Exchanges and Clearing Limited (HKEX). The bitcoin mining giant revived plans for another IPO later in 2019 in the U.S.Wu’s official exit is also coming at the time of severe miner scarcity occasioned by the global semiconductor shortage. The company’s line of crypto mining rigs is currently sold out through August 2021.Title: Bitmain Saga Over: Jihan Wu Steps Down as CEO
Sourced From: cryptopotato.com/bitmain-saga-over-jihan-wu-steps-down-as-ceo/
Published Date: Tue, 26 Jan 2021 12:56:07 +0000

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https://naminco.ca/4-countries-where-bitcoin-searches-struck-ath-in-early-2021/

4 Countries Where Bitcoin Searches Struck ATH In Early 2021

With BTC’s price exploding to new highs, the asset’s popularity has grown globally. Google searches for Bitcoin have reached ATH records in several countries, including Chile, Nigeria, Argentina, and Colombia. Interestingly, the trading volumes from most of these nations have also increased lately.

Google Searches of BTC To New ATHs In Several Countries

Although the worldwide Google searches for the primary cryptocurrency failed to hit a new all-time high amid BTC’s price record of $42,000, citizens based in at least four countries have enhanced their BTC searches to record levels.

Google trends data shows that Bitcoin’s popularity has seen new highs on Google from Chile, Argentina, Colombia, and Nigeria.

Bitcoin Google Searches In Argentina. Source: Google Trends

Google Searches In Colombia. Source: Google Trends

Citizens from these countries have also proven that their interest doesn’t stop with just typing “Bitcoin” on the world’s most popular search engine. Peer-to-peer trading data shows that they have started to allocate more funds into the cryptocurrency.

CryptoPotato reported recently that Nigeria became the second-largest Bitcoin P2P market in the world. Locals employ the digital asset for its intended purpose by the anonymous creator Satoshi Nakamoto – to serve as an electronic peer-to-peer cash system.

PayPal and other payment options still lack in their development in the country, which also drives citizens to turn to the cryptocurrency for fast and cheap transactions.

BTC’s Presence In South America

Apart from the high trading volumes in the African nation, BTC has enjoyed a popularity boost in several South American countries, as mentioned above.

The trading volumes on LocalBitcoins in Colombia surged to the second-highest level during the first week of January, only trailing to the week prior to the 2020 halving.

Apart from BTC’s expanding price, the interest could also be attributed to economic uncertainties prompted by the COVID-19 pandemic, protests from rural communities against murders, and the growing number of killed females – also known as Colombia’s femicide.

<br data-srcset=
Bitcoin P2P Trading Volume On LocalBitcoins Colombia. Source: CoinDance” width=”1832″ height=”528″ srcset=”https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min.jpg 1832w, https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min-300×86.jpg 300w, https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min-1024×295.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min-768×221.jpg 768w, https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min-1536×443.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2021/01/PIC333-min-50×14.jpg 50w” sizes=”(max-width: 1832px) 100vw, 1832px” />Bitcoin P2P Trading Volume On LocalBitcoins Colombia. Source: CoinDance

Bitcoin P2P trading volume reached a new ATH in early January in Chile of about 800 million pesos. The nation also suffered the financial consequences of the COVID-19 pandemic, which harmed its citizens. The central bank published a report last year projecting the worst GDP in 35 years.

Nevertheless, Foreign Minister Andres Allamand recently reassured that the country has the “macroeconomic and fiscal soundness” to ensure a partial recovery in 2021.

2

Bitcoin P2P Trading Volume On LocalBitcoins In Chile. Source: CoinDance
Bitcoin P2P Trading Volume On LocalBitcoins In Chile. Source: CoinDance

Although the trading volumes in Argentina have failed to reach the highs from mid-2020, the nation has also enjoyed a steady increase in BTC allocations.

Argentina’s GDP also felt the adverse effects of the virus as it shrunk by 10.2% in Q3 alone and even more on a yearly basis.

Title: 4 Countries Where Bitcoin Searches Hit ATH In Early 2021
Sourced From: cryptopotato.com/4-countries-where-bitcoin-searches-hit-ath-in-early-2021/
Published Date: Tue, 26 Jan 2021 12:56:02 +0000

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https://naminco.ca/russian-authorities-can-no-longer-hold-crypto/

Russian Authorities Can No Longer Hold Crypto

As per a document published by Russia’s Ministry of Labor, local and federal government officials can no longer hold cryptocurrency and must immediately dispose of their holdings. The document states:

“Officials are obliged to alienate digital financial assets issued in information systems organized in accordance with foreign law, as well as digital currency, regardless of the country of issue.”

This includes board members of the Bank of Russia and chairs of government-owned corporations, as well as their spouses and under-age children. It’s unclear how many of the government officials in Russia might own cryptocurrencies since there are no public reports regarding this subject.

Russia’s Laws Against Cryptocurrencies

On December 10, 2020, President Vladimir Putin signed a decree that obliges officials to declare their various cryptocurrency holdings. The officials submitted the draft law on taxation of cryptocurrency transactions for citizens to the State Duma in early December 2020.

Specifically, on January 1, a law came into effect in the Russian Federation that recognizes cryptocurrencies as property and prevents their use as a payment mode within the country. The law also prevents government officials from opening accounts in foreign banks and buying assets from foreign countries. However, the officials don’t need to report their digital financial assets and digital currency acquisitions in 2020.

Largest Retail Bank In Russia Launching Stablecoin

Despite these regulations, different banks in Russia continue to experiment and implement their proprietary stablecoins. As per reports, Sberbank – the largest retail bank in Russia – is about to launch their stablecoin pegged to the Russian ruble.

As per Russian news outlet, Interfax:

“Sberbank filed an application with the Bank of Russia to register its blockchain platform in early January, since digital financial assets in accordance with the law can be issued on a registered platform. Technologically, the bank is ready to work with such fiat currency, we have tested it inside and saw that this solution works.”

The Russian Central Bank is also gearing up to launch its own central bank digital currency (CBDC).

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Russian Officials Can No Longer Hold Crypto
Sourced From: cryptodaily.co.uk/2021/01/russian-officials-cryptocurrency
Published Date: Mon, 25 Jan 2021 09:39:52 +0000

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Expert: The 2021 Altcoin Season Only Began

2021 has so far been an exciting year in the cryptocurrency market. We saw its capitalization surpassing $1 trillion for the first time in history.

And while a lot of it had to do with Bitcoin’s surging price, over the last few days, it’s becoming evident that altcoins are claiming their share, causing many to believe that we’re in a state of the market known as “altcoin season.”

ltcoin Season 2021: It’s Just Beginning

An “altcoin season” is a term used to describe a market condition where bitcoin’s price is being heavily outperformed by that of altcoins. This is directly reflected in the BTC dominance index, measuring Bitcoin’s share relative to that of the entire cryptocurrency market.

According to the well-known trader, investor, and crypto proponent going by the Twitter handle Secrets of Crypto, the market is currently in phase 2 of an altcoin season.

We are now in Phase 2 of the Path to Altseason Chart. Ethereum has been outperforming Bitcoin for a month straight and is starting to go parabolic…

“Path to Altseason.” Source: Twitter

The “Path to Altseason” is a graphic that describes the different phases of this market condition. Phase 1 is when there’s a flow of money going into Bitcoin and, possibly, to Ethereum. What’s important to note here is that during this phase, ETH struggles to keep up with Bitcoin, and it goes back and forth.

Phase two (where we’re currently at, according to the analyst) is when Ethereum starts outperforming BTC.

Indeed, Ethereum has been outperforming bitcoin impressively over the course of this year. ETH is up around 87% YTD, while BTC is up just shy of 15%.

ETH vs. BTC. USD Value Performance. Source: TradingView

Another thing about the current Phase 2 of the “Path to Altseason” is that money starts flowing to other large-cap altcoins. We saw that too. As CryptoPotato recently reported, Chainlink’s LINK charted a fresh all-time high, while Polkadot’s DOT has also been performing impressively.

What’s Next?

First things first, this is by no means investment advice, and it’s important to note that history is not an indicator for future events.

According to the analyst’s photo, however, the next phase will see large-caps going parabolic. Moreover, other altcoins with strong fundamentals should also see notable gains. During the last phase of the altcoin season, “large caps have gone full vertical, and we’re seeing blow-off tops.”

Other characteristics include booming smaller altcoins, as well as meme coins taking off as everyone is ecstatic about the market and “you feel the mania in the air.”

Title: Analyst: The 2021 Altcoin Season Only Started
Sourced From: cryptopotato.com/analyst-the-2021-altcoin-season-only-started/
Published Date: Mon, 25 Jan 2021 09:38:49 +0000

Ethereum Rate Analysis: ETH Spiked to $1500 However Bulls Must Verify ATH Breakout

ETH/USD – Ethereum Creates New ATH At $1480

Key Support Levels: $1392, $1350, $1300.
Key Resistance Levels: $1425, $1480, $1530.

Ethereum saw a 6.5% price climb today as the coin trades near $1415. The coin had rebounded from $1100 on Friday as it started to surge over the weekend to close yesterday’s candle at $1392 (1.618 Fib Extension).

The cryptocurrency is trading within a broad rising price channel and is contesting the upper boundary today.

ETH had spiked higher earlier in the day to break this channel and set a new ATH price at $1480. It has since rolled over to return beneath the previous ATH price at $1425.

ETH/USD Daily Chart. Source: TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $1425. The new ATH follows this at $1480, then $1530 (1.414 Fib Extension), and $1582. Beyond $1600, added resistance lies at $1647, $1686 (1.414 Fib Extension – yellow), $1700, and $1768 (1.618 Fib extension – purple).

On the other side, the first level of support lies at $1392. This is followed by $1350, $1300, $1260 (.236 Fib), $1200, and $1125 (.382 Fib).

The RSI is showing signs of bearish divergence as the price makes higher highs while the RSI makes lower highs. This could signal an incoming short-term reversal back to the lower boundary of the price channel.

ETH/BTC – Bulls Retreat From Today’s 0.045 BTC High

Key Support Levels: 0.0405 BTC, 0.0396 BTC, 0.0390 BTC.
Key Resistance Levels: 0.0416 BTC, 0.0424 BTC, 0.0435 BTC.

Against Bitcoin, ETH exploded from 0.038 BTC yesterday to reach as high as 0.0435 BTC by the end of the day. The coin is now trading within a steep rising price channel.

Earlier in the day, it attempted to spike above this channel as it reached as high as 0.045 BTC (1.618 Fib Extension) but has since rolled over to trade at the current 0.0409 BTC level.

ethbtc-jan25
ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first level of support lies at 0.0405 BTC (2020 Highs). This is followed by 0.0396 BTC (Feb 2019 Highs) and 0.0390 BTC (.382 Fib & lower boundary of the rising channel). Beneath the channel, support lies at 0.038 BTC, 0.0376 BTC, and 0.0361 BTC (MArch 2019 Highs).

On the other side, the first level of resistance lies at 0.0416 BTC. This is followed by 0.0424 BTC (1.272 Fib Extension), 0.0435 BTC (1.414 Fib Extension), 0.044 BTC, and 0.045 BTC (1.618 Fib Extension).

Additional resistance lies at 0.046 BTC, 0.0476 BTC, and 0.0482 BTC.

Likewise, the RSI here shows signs of bearish divergence, which could suggest a sharp reversal is on the way.

Title: Ethereum Price Analysis: ETH Spiked to $1500 But Bulls Must Confirm ATH Breakout
Sourced From: cryptopotato.com/ethereum-price-analysis-eth-spiked-to-1500-but-bulls-must-confirm-ath-breakout/
Published Date: Mon, 25 Jan 2021 09:38:44 +0000

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