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Ethereum Price Prediction Daily (21-Jan): ETH At This Key Resistance Again! Can We Break Through This Time?

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Ethereum Price Prediction Daily (21-Jan): ETH At This Key Resistance Again! Can We Break Through This Time?

Ethereum price prediction from our previous analysis Warning! Is This A Price Break Down Or A Fake Out?

Our bullish prediction on Ethereum is still playing out exactly! Warning! Is This A Price Break Down Or A Fake Out? and right now, Ethereum is pushing higher but facing major issues at a key resistance level it failed to break through during the initial rally of 2023.

In this Ethereum analysis, we will be going into detail about this key resistance level and what the Ethereum bulls must do if they want to see this price rally continue in the coming days.

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Understanding The Ethereum Trend!

Ethereum Price Prediction Daily (12-Jan)
Our Ethereum price prediction then

We are still very bullish on the Ethereum price, and we believe there is still a very high probability for us to see the Altcoin price continue to rally higher in the coming days.

The key pattern that supports this bullish bias on Ethereum is the Double Bottom Pattern we have been tracking for weeks now. (The image above was the initial prediction, the image below is what Ethereum is looking like now)

If this Double Bottom pattern plays out exactly, there is a very high probability that we might see Ethereum rally up to the $2,014 price level before facing any major resistance.

However, for us to smash this bullish target, the Ethereum bulls will need to break through and close above the $1,690 resistance first.

ETH current price action right now. Ethereum has been playing out exactly as we predicted.

Ethereum $1,690 Key Resistance!

Ethereum is currently testing a key resistance it has been trying to break through all January. This $1,690 is the only major level standing in the way of Ethereum smashing our $2,014 bullish target.

The question traders are asking now is “are the buyers ready to push Ethereum past this level or will we see another sell-off in the coming days”

No matter what happens, we are still bullish on Ethereum for now!

ETH At This Key Resistance Again! Can We Break Through This Time? Watch this 4-hour price prediction
ETH At This Key Resistance Again! Can We Break Through This Time? Watch this 4-hour price prediction

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Balancing Privacy & Compliance to Ensure High Privacy for CBDC Payments

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Balancing Privacy & Compliance to Ensure High Privacy for CBDC Payments


Today, the public already accepts some financial privacy invasion. Existing digital payment methods, such as debit and credit cards, bank account transfers and mobile money payments do not have a high degree of privacy – and are growing in market share. Know-your-customer (KYC) measures are necessary to open bank accounts and, ultimately, to conduct transactions. That confidential KYC and transaction data is shared with intermediaries, such as banks, credit card companies, etc., that are involved in the transaction process.


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Bitcoin Has Entered Into The Early Bull Phase — Crypto Pundit Avers ⋆ ZyCrypto

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Still Bullish: Billionaire Money Manager Bill Miller Maintains View Bitcoin Will Rise Again Despite FTX Chaos

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Ki Young Ju, the CEO of data analytic firm CryptoQuant is convinced that Bitcoin is on the cusp of a major lift-off as crypto traders continue to switch from a risk-off to risk-on mode.

Earlier yesterday, Young tweeted that Bitcoin had “entered into the early bull phase”, suggesting that the top cryptocurrency by market capitalization could be preparing to push higher. Despite plunging by roughly 77% on the back of macroeconomic headwinds and a wider route in the crypto industry last year, Bitcoin has had a good run so far this year. This month alone, the crypto asset’s value grew over 40%, fully recovering from the FTX-induced sell-off and perching above levels last seen in August.

According to Young, whereas the asset’s price could pull back following the recent pump, there is a higher chance that it will continue to rise as various metrics turn positive. Highlighting the MVRV ratio, a profit and loss indicator that measures if the bitcoin price is undervalued or overvalued, the pundit noted that most investors were still underwater, reducing the incentive to sell.

Typically, when MVRV is above 3.7 (red area), bitcoin is said to be overvalued (market tops), and when it is below 1 (green area), bitcoin is said to be undervalued (market bottom). Recently the MVRV indicator moved above 1 (1.07), signalling the beginning of a bull cycle. 

In Young’s words;

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“No one would want to sell here at a significant loss. If someone sells a lot, it’s highly likely forced & unwanted selling due to bankruptcy, government-seized coins, etc.”

On Wednesday, Young also stated that there was a likelihood that wealthy investors would purchase struggling US-based Bitcoin (BTC) mining companies and their crypto holdings at a discount this year, preventing further miner capitulation. According to him, such acquisitions would significantly remove systematic risks associated with the mining sector, igniting a bullish storm for BTC and other cryptocurrencies.

“BTC miner capitulation might play out differently this time. Less likely, but it could be bullish if someone(s) acquires US-based Bitcoin mining companies and their crypto holdings at a significant discount this year,” he said.

Notably, the total supply of BTC in loss hit a 9-month-low this week, the lowest since April 2022, when Bitcoin was trading in the $40,000 range. Cryptoquant noted that “every time the supply in loss reaches values above 50%, capitulations occur, and price bottoms can be identified along Bitcoin’s history.” Currently, 32% of Bitcoin’s total supply is in loss after dropping from about 55% a month ago.

BTCUSD Chart by TradingView

At press time, Bitcoin was trading at $23,049, up 0.14% in the past 24 hours, according to data from CoinMarketCap.


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FTX Attorneys To Drag SBF’s Parents And Brother In Questioning About Their Personal Wealth

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FTX

The tragedy of FTX appears to be becoming more personal, as the bankrupt exchange’s legal counsels are now seeking to drag the founder’s family members and grill them about how they established their affluence.

In a court filing, FTX attorneys requested that Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, testify under oath and produce financial papers regarding their personal fortune as part of the company’s effort to reclaim funds that may be used to repay creditors.

Gabriel, the brother of former FTX CEO Bankman-Fried, will also be questioned in court over any financial benefits he may have gotten from the company.

SBF, although being collaborative to the point of spending the rest of his life in prison, has neglected to provide federal prosecutors with all the necessary information regarding the diverted money, resulting in the current situation.

Image: Euronews

Lawyers Seek Answer From SBF Family If They Received Money From FTX

In light of claims that FTX shifted billions of dollars in investor cash to prop up his Alameda Research trading unit, federal authorities have accused him with fraud. SBF entered a not-guilty plea.

According to reports, other FTX executives may be subject to the same inquiry in an attempt to locate assets associated with the bankrupt cryptocurrency exchange.

Sources also have it that Bankman-Fried’s mother provided tax advice and recruitment assistance to FTX personnel.

SBFFTX former CEO, Sam Bankman-Fried. Image: CNA.

Reportedly, his father served as a tax counsel to employees of the company and provided recommendations for the appointment of the company’s legal team.

Supposedly, Gabriel established a lobbying group and housed its operations in a mansion worth several million dollars not far from the U.S. Capitol.

It has been stated that his mother and brother are not helping with the investigation that is currently taking place into FTX.

Reuters reported in November that Bankman-Fried’s parents were signatories on a $16.4 million residence in the Bahamas, which was designated in property records as a “holiday home.”

FTX Owes Thousands Of Creditors  Money

SBF faces eight criminal counts, including violations of campaign finance regulations and wire fraud. Since his extradition from the Bahamas to the United States, he has been under house arrest at his parents’ home. His trial is scheduled to commence in October.

After the collapse of the once-powerful cryptocurrency exchange in November, newly released bankruptcy records revealed thousands of creditors to whom FTX owes funds.

Wall Street stalwarts like JPMorgan and Goldman Sachs were included on the 116-page list of creditors, which also included firms, charities, people, and other institutions.

Crypto total market cap at $996 billion on the daily chart | Chart: TradingView.com

Meanwhile, FTX has opposed to a request from the U.S. Department of Justice for an independent inquiry into the company’s collapse, claiming that it is already conducting a comprehensive review that includes family members of SBF.

FTT, the native token of the FTX cryptocurrency exchange, had risen by 185% over the last 30 days.

At the time of writing, the altcoin was trading for $1,940, a decrease of approximately 22% from its previous price of $2,4.00.

-Featured image: Novel Suspects


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