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A bearish Ethereum fractal meets lower network activity as Ether's price struggles to break above $2,000. The price of Ethereum's native token, Ether (ETH), has gained around 35% so far in 2023. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times. ETH/USD daily price chart. Source: TradingView Let's take a closer looks at the three likely reasons why Ethereum price has failed to decisively retake $2,000 since May 2022. Ethereum price paints bear cycle fractal Ethereum's inability to cross above $2,000 in 2023 resembles the bearish rejection near $425 in 2018-2019. ETH/USD weekly price chart. Source: TradingView In both cases, Ether appears to be in a recovery phase while eying close above its 0.236 Fib line of the Fibonacci retracement graph. In 2018-2019, the 0.236 Fib line was near $425 and was instrumental in limiting Ether's recovery attempts. In 2023, the same line is near $2,000, ...

Bitcoin and several altcoins are taking a breather after the sharp rally of the past two days, but the general trend remains bullish. Ripple Labs’ victory in the case against the United States Securities and Exchange Commission gives a significant boost to the crypto industry. In addition to benefitting Ripple and XRP (XRP), analysts believe that the ruling will weaken the regulator’s case against Binance and Coinbase. In another positive event for the crypto space, the U.S. dollar index (DXY) completed a bearish head and shoulders pattern on July 12 and followed that up with a drop below the psychological level of 100 on July 13. The DXY typically moves in inverse correlation with Bitcoin (BTC), hence its weakness is a positive sign for the crypto bulls. Daily cryptocurrency market performance. Source: Coin360 LookIntoBitcoin creator Philip Swift said that increased on-chain spending volume shows that Bitcoin is in the first stage of a bull market. The sharp rally in XRP and several ...

Ethereum scaling remains the primary use case behind zero-knowledge proofs according to a report from ZKValidator. Ethereum (ETH) scaling protocols are dominating the use of zero-knowledge (ZK) rollups, with major launches, new research and healthy competition key points in a sector report published by ZK Validator. The node infrastructure operator’s “State of ZK Q2” report reflects on significant events across the ZK ecosystem, with notable launches of ZK-powered layer 2's highlighting the use of the technology on scaling in comparison to other market segments. ZK-proofs use cryptography to allow one party to prove to another party that certain information is correct, without revealing any data. They present a solution to trust and privacy in digital environments and have been pivotal in scaling layer-1 blockchain protocols . A poll put out to some 18,000 followers of the Zero Knowledge Podcast provided the sample for a community gauge on the most important applications of ZK-...

Bitcoin has reclaimed the $26,000 level, but will large cap altcoins follow BTC's rebound? Bitcoin (BTC) is witnessing a tough battle between buyers and sellers near the $25,000 mark. A minor cause of worry for the bulls is that even the news of BlackRock having filed an application for a Bitcoin spot exchange-traded fund could not boost prices higher. This suggests that investors remain cautious due to the regulatory overhang. However, this does not mean that professional investors have abandoned plans to invest in cryptocurrencies. The Laser Digital Investor Survey of institutional investors conducted in April shows that 90% of the respondents were ready to consider putting money into crypto if the asset was backed by a “large traditional financial institution.” Another positive was that 82% of the investors polled were positive on crypto’s prospects over the next 12 months. Daily cryptocurrency market performance. Source: Coin360 Glassnode co-founders Yann Allemann and Jan Happ...