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Crypto News Jan 25: Bitcoin sends bullish signal again with news from Ethereum, Shiba Inu, Decentraland, Cardano, Polkadot, Fantom, Polymarket

From the comment that Bitcoin formed a bullish signal on Polymarket and restricted trading to US users. Here are some highlights from the crypto market.

Bitcoin News

Merchant clay Vays to sayBitcoin (BTC) technical indicators are blinking signs of a possible upside.

The 20-month moving average could serve as support for the top crypto asset, Vays said.

“The only good news we have on the monthly chart is that the market is right above the moving averages. This moving average could save us… This is the perfect area for Bitcoin to bounce.”

Currently, the 20-month moving average is hovering around $35,234.

Crypto News Jan 25: Bitcoin sends bullish signal again with news from Ethereum, Shiba Inu, Decentraland, Cardano, Polkadot, Fantom, Polymarket

BTC price chart | Source: TradingView

Looking at the daily chart, Vays says that the Momentum Reversal Indicator (MRI), which predicts the end of a trend based on the asset’s price momentum, is poised to turn bullish.

Ethereum News

In post In a blog post on Monday, the Ethereum Foundation announced that it will remove the terms “ETH 1.0” and “ETH 2.0” to replace the terms “execution layer” and “consensus layer.”

The “execution layer”, known as Ethereum 1.0, refers to the proof-of-work blockchain now known as Ethereum. The Beacon Chain, Proof-of-Stake, aims to adopt the consensus procedures after the two blockchains have been merged, hence the name “consensus layer”. Collectively, they are collectively known as “Ethereum”.

The network will soon host a “Merge” event, a future upgrade that will merge the existing Proof-of-Work chain with the Proof-of-Stake chain, which is expected to take place in June 2022.

4,600 stolen ETH mixed in Tornado Cash log

According to on-chain data, the $4,600 ETH worth $15 million stolen from Singapore-based is currently being “shuffled” or delivered to hard-to-trace destinations via Tornado Cash, Ethereum’s mixers.

Tornado Cash is an ETH blending protocol that promises to improve transaction privacy by obfuscating the on-chain connection between the source and receiver of Ether.

Online dates are available recognize first by security consulting firm Peck Shield, shows 4,600 ether being sent through the blender in batches of 100 ether.

While some say that shuffling protocols or cryptocurrency shufflers are used to protect the privacy of organizations or individuals, they are often used to launder funds derived from organized crime.

News Shiba Inu

The official Twitter account of the cryptocurrency Shiba Inu announced the Metaverse project, which will focus on the token’s ecosystem.

The price of the SHIB token has recovered almost 12% from the intraday low of $0.00001865.

As promised, we are very excited to announce our first special surprise of the year #ShibArmy!

In 2022, we are reaching new heights and embracing the #Shiberse . An immersive experience for our ecosystem and the Metaverse space!

We can’t wait to show you more. Shot! 🐶

— Shib (@Shibtoken) January 24, 2022

Aptly named “Shiberse,” it will provide a “lively experience” for the Shiba Inu community.

Attached to the announcement was an animated image of a Shiba Inu dog holding a hammer in the middle of the forest. A blurred version of the photo was posted by the Shiba Inu Twitter account last week.

News decentralized

Decentraland (MANA) could fall further as the market forms a negative pattern. The token faces a 28% drop to $1.46 if the 200-day simple moving average (SMA) fails to act as a reliable support.

MANA formed a descending triangle on the daily chart after the market fell to the lower border of the dominant technical pattern on January 21st.

MANA price chart | Source: TradingView

The token could continue falling, below the 78.6% Fibonacci retracement level at $2.18 on Jan. 22, serving as support for MANA.

The price is likely to float above the 200-day SMA at $1.92 and act as the next line of defense for MANA.

However, a drop below the above support could cause more trouble for the bulls as the token is likely to drop lower into the $1.46 region, coinciding with the Oct. 29 high.

Additional selling pressure could see the price continue its deep decline towards the 127.2% Fibonacci extension at $1.09.

If the buying pressure increases, the market will meet resistance at $2.18, then at the lower boundary of a corrective technical pattern at 2.64, which is near the 61.8% Fibonacci retracement level and the 21-day -SMA lies.

News Cardano

Cardano founder Charles Hoskinson seems to be handsome satisfied with McDonald’s recent Crypto Twitter engagement.

The American fast food giant caught the attention of the Twitter community after tweeting, “What do you do with crypto Twitter account operators?”.

McDonald’s has come under the spotlight in the crypto market after El Salvador President Nayib Bukele changed his Twitter profile photo to one that shows him in a McDonald’s employee uniform.

News Fantom

If we plot the Fibonacci retracement lines for the FTM pullback from $1.77 to $2.41, we can see that $1.9 is the 78.6% retracement and also a confluence with the long-term support is.

Currently, the price has found support at $2.16 and is trying to scale higher. In the event that BTC trades sideways for the next day or two, the FTM could continue to rally and potentially break the $2.59 zone as long as it breaks above $2.32 and turns resistance into support.

FTM Price Chart | Source: TradingView

The sharp drop from $3 to $1.77 pushed the RSI into oversold territory. However, in the last 12 hours, the RSI has been making a real attempt to break through the 50 level again. While the market is bouncing off the 38.2% retracement at $2.16, the RSI is at 52.1.

This is a signal that FTM could move higher. However, the $2.32 resistance is a fairly strong hurdle.

OBV has been gradually declining over the past week, but over the past three days, OBV has actually increased significantly. This shows that there is indeed strong demand behind the FTM decline. The 27.2% extension could be a short-term upside target.

News polkadot

FC Barcelona players are now sporting the Rakuten logo on their jerseys as the Japanese e-commerce company becomes the club’s official sponsor. However, this partnership will come to fruition in July this year and the team is seeking an agreement with a new organization.

Follow notification Recently, one of the options is Polkadot, a blockchain network founded in 2016. FC Barcelona describes the protocol as a platform that enables fast transaction speeds. Specifically, the project can run 1,000 transactions per second (TPS). When fully operational, Polkadot is expected to be able to provide 1,000,000 TPS.

Another partner Barça are considering is digital music streaming service Spotify. The Spanish team announced that they will thoroughly review and select a sponsor that fits their long-term strategy.

News Polymarket

Polymarket, a crypto-based prediction market, notification that it has relaunched its website with restricted access for US users.

The news represents a change of direction after the Commodity Futures Trading Commission (CFTC) took action earlier this month to limit the site’s operations.

On Jan. 3, Polymarket settled $1.4 million with the CFTC and received orders to close certain stores. Polymarket responded that it would close three markets.

The company says it will apply a geo-blocking policy so US citizens can only view the markets but not transact.

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