CRYPTO NEWS: Latest BITCOIN Price News, ETHEREUM News, DEFI News
Bitcoin price is struggling to move above USD 30,500.
Ethereum is hovering near USD 1,800, XRP is stuck near USD 0.40.
LINK and XTZ are the best performers today.
Bitcoin price remained below the USD 31,200 resistance and moved towards USD 30,000 again. BTC is currently (03:52 UTC) trading below USD 30,200 and is unchanged in a day and down 1% in a week. A clear move below USD 29,500 could start a stronger decline.
Similarly, most major altcoins are struggling to clear key hurdles. ETH traded below the USD 1,820 and USD 1,800 levels. XRP is now struggling to stay above the USD 0.40 support. ADA moved lower towards the USD 0.62 support.
After another rejection near USD 30,500, bitcoin price briefly declined below USD 30,000 before recovering. On the downside, an initial support is near the USD 29,800 level. The next major support is near the USD 29,500 zone, below which the bears could aim for a larger decline.
On the upside, an immediate resistance is near the USD 30,500 resistance zone. The main resistance is still near the USD 31,500 zone, above which the price could gain strength.
Ethereum price struggled to clear the USD 1,850 and USD 1,880 resistance levels. ETH is moving lower and trading just below the USD 1,800 level. ETH is unchanged in a day and down 2% in a week. On the downside, the first key support is near the USD 1,750 level. The next major support is near USD 1,720, below which the price might gain bearish momentum.
On the upside, the USD 1,850 level is a key hurdle. The next key resistance is near the USD 1,880 level, above which the price could start a stronger increase.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) failed to clear the USD 0.650 and USD 0.655 resistance levels. It is now moving lower towards the USD 0.62 support. The next major support is near the USD 0.60 level.
BNB topped near the USD 295 resistance level and moved toward USD 290. The next major support is near USD 285. The main support is now forming near the USD 278 and USD 275 levels.
Solana (SOL) is consolidating above the USD 40 resistance level. An immediate resistance is near the USD 42 level, above which the price could rise towards the USD 42 level.
DOGE is moving lower below the USD 0.0800 support level. An immediate support is near the USD 0.0780 level. The key support is now forming near the USD 0.0750 level.
XRP price is consolidating near the USD 0.40 level. To start a steady increase, the bulls need to clear the USD 0.42 resistance level. On the downside, the USD 0.35 level is a crucial support.
Mark Zuckerberg and the Metaverse
Mark Zuckerberg has his sights set on a decentralized, interoperable metaverse. These will allow users to create, monetize, and share ideas. But there are some concerns with the metaverse. Some argue that it’s still in danger of centralized actors claiming the title. For now, the biggest problem is the volatility of most cryptocurrencies. And while the metaverse is definitely in its infancy, it’s a step in the right direction.
While Facebook is a giant in the social networking business, Microsoft and other players are also investing big money in virtual worlds. That’s good for the virtual world industry, but it also means that a dominating player can capitalize on the early network effects and become a giant. Facebook’s $10 billion investment in the metaverse may raise some eyebrows among investors. Ultimately, though, the future of the metaverse is bright. There’s no way for it to fail, but it will have to evolve.
The metaverse has many uses, including in entertainment and social interaction. People can make friends with AI avatars. One example of such a metaverse is Sensorium Galaxy, a music-focused galaxy featuring collaborations from the biggest artists in the world. Metaverse is likely to have additional content centers, including a planet dedicated to meditation and self-actualization. And even real world businesses are using the technology to engage and share information. There are also many applications for the metaverse.