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November 6th, Futures News: Economies.com analysts latest view: WTI crude oil futures fell in the previous trading day, failing to break through the 50-day moving average resistance level. This rebound caused prices to break below the key support level of $50.80, further exacerbating downward pressure in the short term. This movement is accompanied by a continuation of the overall downtrend, with prices moving along the downtrend line. Furthermore, although prices have reached oversold levels, the Relative Strength Index (RSI) is still showing a negative signal, which may indicate that selling pressure may persist unless prices rise above the broken support level.November 6th, Futures News: Economies.com analysts latest view: International spot gold fell slightly in the previous trading day, encountering downward pressure after hitting the 50-day moving average resistance level, subsequently rebounding but then declining. The short-term bearish correction trend continues and is dominating the overall trend. The Relative Strength Index (RSI) has begun to show negative overlap signals after reaching excessively overbought levels, which strengthens the possibility of forming a negative divergence and may increase selling pressure in the near future.According to Politico: A senior advisor to Trump said the president will focus on affordability next year.New York silver futures touched $48 per ounce, down 0.06% on the day.Morningstar: Raised its fair value estimate for Hong Kong Exchanges and Clearing Limited (00388.HK) from HK$340 to HK$375.

ETH to Target $1,800 on ETH Staking Stats and BTC Return to $25,000

Jimmy Khan

Feb 21, 2023 15:19

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On Sunday, Ethereum (ETH) decreased by 0.71%. After losing 0.12% on Saturday, ETH gained 10.89% for the week to close at $1,680. ETH returned to $1,700 for a fourth session in a row.


Following a range-bound morning, ETH increased to a high of $1,727 in the late afternoon before going back down. Before dropping to a low of $1,667, ETH broke through the First Major Resistance Level (R1) at $1,711. Before partially regaining its footing to close the day at $1,680, ETH briefly breached the First Significant Support Level (S1) at $1,677.


Bitcoin's (BTC) price dropped by 1.42% on Sunday. Bitcoin gained 0.21% on Saturday but lost everything on Sunday, rising 11.53% to $24,284. Bitcoin returned to the $25,000 level for the third time in four sessions despite the negative session.


After a range-bound morning, Bitcoin surged to a high of $25,209 in the late afternoon. Before going backward, BTC passed through the First Major Resistance Level (R1) at $24,857 and the Second Major Resistance Level (R2) at $25,082. Bitcoin dropped to a late low of $24,221 after the reversal. At $24,429, BTC breached the First Significant Support Level (S1), closing the day at $24,284. The downside was mitigated by the Second Significant Support Level (S2) at $24,226.

Shanghai Hard Fork Hope Overpowers Fed Fear

There were no updates from engineers working on the Shapella testnet on Sunday. The lack of quiet on Sunday put ETH on the back foot as the anticipated Shanghai hard fork approached.


Yet, the upside was mitigated by market confidence. Updates from the Shanghai hard fork have been good despite delays to the Ethereum Merge. The recent SEC action against US staking services has put stakeholder opinions on the hard fork to the test.


Since the Kraken settlement with the SEC, ETH staking inflows have been inconsistent, generating doubt about whether the Shanghai hard fork would result in an ETH price breakout.


CryptoQuant reports that daily ETH staking inflows reached a low of 4,896 ETH on February 23 before increasing. The inflows peaked at 33,280 EHT on February 14 before declining. The amount of ETH staked as of February 19 was 16,800 ETH.



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