Central Banks Focusing On Growth Patterns of Cryptocurrency

By dan saada October 22, 2019 Off
Central Banks Cryptocurrency

The price of the Bitcoin is up by 5%.  The ETH price might likely see a stronger resistance in the $180 area.

On two occasions versus the USD, the price of the ETH tested at $168 and $170 support levels.  The bears did not gather strength below $168.  There was a sharp upside correction above the $172 resistance level.  The price of the Bitcoin rallied more than 5%, and the price climbed above the critical $8,200 resistance level.

There was resistance near $172 on the hourly chart with ETH/USD.  The pair is consolidating gains after testing the $177-178 area.  The $175 level at the 100 hourly SMA works as support levels.  If there will be further downsides, the price of the Ethereum will test the $172 support area. With new losses, the cost would trend in the $168 support area.

There are several hurdles near the $178 and $180 levels.  The price should move into $180 resistance to make it to the positive zone.  The ETH might start with a solid upward move with the next key resistance seen at $185 level. ETH is showing positive signs with the price recovering beyond $175.  The price might fail near the $180 or $185 resistance area.  The rate holds the key at $168, and the price might further decline towards the $162 and $160 support levels in the near term. A primary support level is at $172, and Major resistance is at $180.

While TRON surpassing the trading volume of the ETH has been in the news for quite some time now, Justin Sun has taken it to the news to state that TRON’s trading volume on dApps has touched 68,504,852 USDT, which is beyond the Ethereum by almost twice.

When considering in terms of unique users and the main net accounts, Tron is behind Ethereum.  Justin Sun recently declared that between October 22 and November 1, traders would be able to enjoy nearly 30% of APR awards.

Stellar Lumens shows a moderate increase of 2% despite the high volatility.  The token has been demonstrating uptrend over the past seven days.  The market trend has been pretty volatile, and significant tokens like Bitcoin and ETH have not been doing so high during the period.  Despite the overall market trends, XLM was seen to maintain momentum, and it escalated considerably.

While the overall market has been fluctuating, Stellar Lumens has been trading moderately well.  Cryptocurrency is coming to the spotlight, and more Central Banks are focusing on the growth patterns of cryptocurrency.