Representative Patrick McHenry has accused SEC Chairman Gary Gensler of misleading Congress. This accusation emerged during a Financial Committee hearing on the lawsuit between Consensys Vs. SEC. McHenry pointed to court filings that question Gensler’s consistency regarding Ethereum’s (ETH) classification as a security. These filings show a possible contradiction in Gensler’s statements compared to previous The post Consensys vs. SEC: McHenry Accuses Gensler of Misleading Congress on Ethereum Classification appeared first on CoinGape .
With no signs of crypto market recovery, the growth of cryptocurrencies has been down for days. The crypto heatmap is stained in red, with a few cryptocurrencies succeeding with a surge. However, it is a temporary pause for the market, and a recovery phase is soon to occur, followed by a bull market by the The post 4 New Cryptocurrencies You Should Watch Out In May appeared first on CoinGape .
Solana Price Analysis: On Tuesday, the cryptocurrency market witnessed a major outflow following the lead of Bitcoin price correction to $60000. The sudden sell-off tumbled most of the top altcoins including Solana which recorded an 11% intraday loss. The falling price teasing a breakdown from multi-month support hints the sellers lead an extended correction trend The post Solana Price Analysis: Will Market Sell-off Push $SOL Back to $100? appeared first on CoinGape .
Before the token tries to move upwards, a decline to $4.43 could happen. Here are the other details.
The US Congress could catalyze a more significant shift than introducing spot Bitcoin ETFs. Bitwise Chief Investment Officer Matt Hougan’s view underscores a pivotal moment for the crypto industry. Hougan suggests that 2024 could see “groundbreaking” legal frameworks that pave the way for mainstream stablecoin adoption, which might profoundly impact the crypto ecosystem. Related Reading: Coin
Changpeng Zhao, the former CEO of cryptocurrency exchange Binance, was recently sentenced, which led to a variety of reactions. Zhao, charged with noncompliance in the implementation of an adequate anti-money laundering program in Binance, was given four months in prison. This is in spite of the fact that the Department of Justice (DOJ) did not The post DOJ “Sweet Deal” for Binance Changpeng Zhao Faces Backlash for Leniency appeared first on CoinGape .
Amid the post-halving volatility in Bitcoin, the altcoin market has showcased a consolidating trend with a slight bearish tone. ENA, the token of decentralized finance (DeFi) protocol Ethena, is reflecting this downswing by resonating within two downsloping trendlines of falling wedge patterns. However, this pattern is known for indicating the maturity of a downtrend indicating The post Ethena Price Caught in Wedge Pattern Sets Renewed Recovery Beyond $1 appeared first on CoinGape .
The crypto industry is likely to witness an influx of different digital assets Exchange Traded Funds (ETFs) as Litecoin proponents are now mulling the possibility of having a LTC ETF. Litecoin Structural Similarities With Bitcoin Defined Litecoin founder, Charlie Lee recently graced an interview where he spoke with optimism about the potential of a spot The post Spot Litecoin ETF: Founder Charlie Lee Teases Possibility appeared first on CoinGape .
The United States Department of Justice (DOJ) has charged Roger Ver, a notable figure in the cryptocurrency world, with tax evasion. Ver, often referred to as Bitcoin Jesus due to his early and substantial investments in Bitcoin, was arrested in Spain. The DOJ now seeks his extradition to face trial in the United States. Arrest The post US DOJ Charges Bitcoin Pioneer Roger Ver with Tax Evasion appeared first on CoinGape .
Bitcoin price took a hit and even spiked below $60,000. BTC could gain bearish momentum if there is a daily close below the $60,000 support zone. Bitcoin started another decline and traded below the $61,200 zone. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if it fails to recover above $60,400 and then $62,000 this week. Bitcoin Price Reaches Support Bitcoin price started another decline below the $62,500 support level. BTC dropped below the $61,200 level as the bears took control. They even managed to push the price below $60,000. A low was formed at $59,110 and the price is now consolidating losses. There was a minor increase above the $60,000 level and the 23.6% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low. Bitcoin is now trading below $61,500 and the 100 hourly Simple moving average. Immediate resistance is near the $60,400 level. There is also a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair. The first major resistance could be $61,200. The next key resistance could be $62,000 or the 50% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low. Source: BTCUSD on TradingView.com A clear move above the $62,000 resistance might send the price higher. The next resistance now sits at $62,500. If there is a clear move above the $62,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $64,000. More Downsides In BTC? If Bitcoin fails to rise above the $60,400 resistance zone, it could continue to move down. Immediate support on the downside is near the $59,500 level. The first major support is $59,100. If there is a close below $59,100, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,400 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $59,500, followed by $59,100. Major Resistance Levels – $60,400, $61,200, and $62,000.