• Bitcoin (BTC) has made three attempts since February 16th to break the $25.2k resistance before it can continue on a significant uptrend.
• BTC has gained 15.1% since February 13th and is currently trading at $24,780, attempting to flip the resistance to support.
• If successful in flipping the $25.2k resistance to support, Bitcoin could rally to $30k before its next resistance.
Bitcoin Attempts To Flip Resistance
Bitcoin (BTC) has been making attempts since February 16th to break above the critical $25.2k level before it can proceed on an uptrend. The price of Bitcoin (BTC) surged close to $25,000 in its third attempt, gaining 15.1% since February 13th and pushing year-to-date gains up by 48.9%.
Why Is The $25.2K Level Significant?
The 2017 rally saw the price of Bitcoin explode from $900 and make a run close to $20,000 which is why investors and traders are ecstatic about the price of bitcoin rallying above this level as it could lead to a surge up towards $30k if flipped successfully from resistance into support zone.
What Does Bitcoin Need To Do?
For Bitcoin to break above this level there needs to be a strong bullish momentum driving demand for BTC which is already being seen in the market according to chart analyzer and trading signals provider Material Indicators who noted that if enough buyers clear the current buy wall at around 25k then there’s little friction until 26k with thin air all the way up until 30k is reached.
Current Market Status
As of now, despite being rejected from its attempt at breaking through the 25200 level three times in five days, Bitcoin still trades hands at 24 780 USD with 15 1% gain since 13th Feburary and 48 9% year-to-date gains so far showing that despite not quite reaching its goal yet this bull run continues nonetheless with potential for much higher prices ahead should it finally manage to flip this resistant level into support zone allowing further growth form here on out .
It appears that while we wait for more buyers or other market developments that will help push BTC over 25 200 USD many investors remain optimistic as history may repeat itself once again allowing them an opportunity for investments returns compared against their original input when they first got involved with cryptocurrencies like bitcoin .
• Lido DAO (LDO) is considering selling or staking its $30M in ETH ahead of the Shanghai upgrade, which will enable ETH staking withdrawals.
• The proposal outlines a plan to sell all or part of the treasury denominated in ETH and use the funds for additional runway in current market conditions.
• Lido DAO might end up selling part of the ETH and staking what’s left.
Lido DAO Proposes Selling or Staking Its $30M in ETH
Lido DAO (LDO), the governing body behind the largest Ethereum staking provider, is trying to decide what to do with its treasury ether ahead of the Shanghai upgrade, which will enable ETH staking withdrawals. On February 14, Steakhouse Financial, the Lido DAO branch responsible for managing the treasury, made three proposals concerning the 20,304 ETH and surplus stETH that it holds.
Selling vs Staking
One of the proposals outlined a plan to sell all or part of the treasury denominated in ETH with an estimated value of around $30 million. If sold, these funds would be used to secure additional runway in current market conditions as Lido DAO has a monthly run rate between $1.3-$1.5 million per month along with holding $20.1 million in DAI reserves. Additionally, they are also debating whether they should sell their excess stETH holdings to add onto their budgeting capital as well. Another option proposed was to stake both their held ETH and excess stETH holdings instead of selling them off entirely.
On top of this debate on how best to manage their funds, Ethereum Name Service (ENS) also passed a proposal recently allowing them to sell 10,000 ETH ($13 million). This decision was made due to ENS wanting to lower their exposure from 100% held in Ether back down towards a more manageable level for their reserves going forward into 2021 and beyond.
Voting Process & Why It Matters
While voting on these proposals has yet to start amongst members within LidoDAO itself people may find it interesting seeing how such an important governance body manages its funds given current market conditions impacting crypto at large today .
In conclusion there is still no definite answer on what direction LidoDAo will take when deciding how best too manage their holdings as this decision could have lasting impacts across Ethereum moving forward into 2021 so stay tuned for more information on this subject matter as it develops !
• Ethereum (ETH) experienced a strong rally in January, but has seen a slow February so far.
• The 20-day EMA and RSI indicators are displaying mixed results.
• If the bulls can push the price above $1,680, ETH could rally to $1,800 or even higher; otherwise, it may drop to $1,500 or lower.
Ethereum’s Price Action in February
Ethereum (ETH) has seen a slowdown in extreme price action in February after its January rally. This could be seen as positive sign for the market as it provides some breathing room after the rapid increase in prices.
Analysis of Ethereum’s Price Chart
Currently, ETH is trading close to the $1,680 resistance level. The upward slope of the 20-day exponential moving average (EMA), which stands at $1,586 at the time of writing, favors buyers. However, negative divergence on the relative strength index (RSI) suggests that bullish momentum may be waning. To maintain control of the asset’s price action, bulls need to drive ETH above $1,680.
Potential Outcomes for Ethereum’s Price
If successful at pushing prices beyond this resistance level, ETH could surge up towards $1,800 or even higher if it maintains support levels above $1,680. Conversely should it break below its 20-day EMA and 50-simple moving average (SMA), its price could tumble down to around $1,500 or even lower towards $1 ,352 .
Technical Indicators Point Towards Mixed Results
The 20-day EMA and RSI indicators give mixed signals about Ethereum’s potential future movements and whether or not it will experience further gains or declines from here on out. If bulls can maintain control of ETH’s price action above current resistances then they may have an opportunity to push prices further upwards; however if bears take over then we may see a dip back downwards again soon enough.
At present there is no clear indication as to what direction Ethereum’s price will take next; however examination of technical indicators such as 20-day EMA and RSI can help provide guidance on possible outcomes for ETH’s short term movements and whether we might see further gains or losses soon enough.