News
Vitalik Buterin, co-founder of Ethereum, posted on a social platform, "I am excited about a technology that applies artificial intelligence, which is AI-assisted code verification and bug discovery.
Currently, the biggest technical risk for Ethereum may be bugs in the code. Any technology that can significantly change this situation will be remarkable.
On February 19, former St. Louis Fed President Brad stated that he believes the Fed should cut interest rates at the next meeting (in March) as a preemptive measure to prevent its policy stance from excessively suppressing economic activity later this year.
Two years ago, Brad was a major advocate for rapid interest rate hikes, and just last summer, he warned that further rate hikes were necessary.
But now he says that a rate cut makes sense, as inflation has fallen below 3% and is moving towards the 2% target, which the Fed favors. "I think they should take action," he said after speaking at a National Association for Business Economics conference in Washington. "The wiser approach might be to act earlier but more slowly."
On February 19, Edward Snowden, the whistleblower of the Prism program, stated that Bitcoin is the most important currency advancement since the birth of currency.
Market Analysis
Today is the tenth day of the Chinese lunar new year, and in ten days it will be March. Bitcoin has once again stabilized at around 52,000 with a strong posture, while Ethereum has risen to 2890, approaching 3000. Especially the recent strength of the AI sector, NMR has shown strong growth. There are about 70 days left until the Bitcoin halving, and the approval of the Ethereum spot ETF is expected. The recent market surge can be attributed to buying from across the sea. Bitcoin ETF has seen net inflows for over ten consecutive days, and the on-chain holdings of 100 bitcoins have increased. So, in the short term, will the resistance around 52,800 hold, and will the weekend pullback end, allowing the bulls to continue to rise?
From the market, it can be seen that after the weekend adjustment, the price did not break below 50,800, which is a watershed. In the early trading today, the triangle pattern was directly broken, and the MACD turned upwards, indicating that the bulls are still strong. The four-hour trend has not yet been completed, and a new high is likely to appear. The one-hour chart has formed a central oscillation, and the resistance near 53,000 is still obvious. Even if there is a short-term breakthrough, it will be pushed back. Therefore, the short-term strategy is biased towards oscillation. Pay attention to the support around 52,000 and 51,500-51,300 in the short term, and the resistance near the new high. Once broken, the next resistance will be around 53,800-54,000/55,000.
Through the hourly chart, it can be seen that after the weekend retracement to the moving average, the market directly extended to around 2890 at the opening on Monday. The overall market trend is strong, and Ethereum's magnitude in this round is not large. With the excessive rise of Bitcoin, the possibility of most speculative funds flowing into Ethereum and altcoins has increased. Therefore, in the short term, it is recommended to buy on the dip. Pay attention to the support around 2890-2880/2850-2860 and the resistance around 2980-3000/3060. Exercise caution in your operations. Real-time market changes will be explained in the live trading.
Technology is the method, and trend is the king. Let the leader of the coin circle guide you through the sea of coins.
Enter the market cautiously, as operations involve risks.
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