Crypto Daily - Daily Crypto And Financial News 05/08/2022, Ethereum Fundamentals Shine

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Crypto Daily™
7w ago2022-08-05

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Binance and Mastercard to launch Bitcoin rewards card in Argentina.

Binance, one of the leading cryptocurrency exchanges, has partnered with Mastercard to launch a rewards card powered by bitcoin and other cryptocurrencies in Argentina, according to a press release.

Ethereum fundamentals shine as bottom likely in, before merge

With a more accommodating macro backdrop, Ethereum appears to have bottomed, solidified by improved activity resilience than the previous bear cycle, and broadening use cases.

Despite industry setbacks, Bitcoin maximalists see a bright future ahead.

After frequent calls from mainstream press agencies worldwide that Bitcoin was “finished” because of the recent price drawdown, data shows that a committed core of maximalists are confident in the success of the world’s first decentralized internet currency as it stands apart from various altcoins.

BTC/USD plummeted 1.5% in the last session.

The Bitcoin-Dollar pair dove 1.5% in the last session. The Ultimate Oscillator's negative signal aligns with the overall technical analysis. Support is at 22098.8837 and resistance at 23984.1057.

The Ultimate Oscillator is currently in negative territory.

ETH/USD plummeted 1.6% in the last session.

The Ethereum-Dollar pair dove 1.6% in the last session. The ROC is giving a negative signal. Support is at 1539.921 and resistance at 1721.341.

The ROC is currently in negative territory.

The last session saw XRP drop 0.8% against USD.

The Ripple-Dollar pair fell 0.8% in the last session after gaining as much as 1.4% during the session. The Stochastic-RSI is giving a negative signal. Support is at 0.3559 and resistance at 0.3841.

The Stochastic-RSI is giving a negative signal.

LTC/USD skyrocketed 1.8% in the last session.

The Litecoin-Dollar pair skyrocketed 1.8% in the last session. The MACD is giving a negative signal. Support is at 54.7833 and resistance at 61.6033.

The MACD is currently in the negative zone.

Daily Economic Calendar:

UK CFTC GBP NC Net Positions

The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions. The UK's CFTC GBP NC Net Positions will be released at 19:30 GMT, the US Average Hourly Earnings at 12:30 GMT, and Germany's Industrial Production at 06:00 GMT.

US Average Hourly Earnings

The Average Hourly Earnings are a significant indicator of labor cost inflation and of the tightness of labor markets.

DE Industrial Production

“Industry” is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines, and utilities are measured by the index of industrial production.

US Nonfarm Payrolls

The Nonfarm Payrolls presents the number of new jobs created during the previous month, excluding the agricultural sector. The US Nonfarm Payrolls will be released at 12:30 GMT, Japan's Leading Economic Index at 05:00 GMT, and Japan's Coincident Index at 05:00 GMT.

JP Leading Economic Index

The Leading Economic Index is an economic indicator comprising 12 indices such as account inventory ratios, machinery orders, stock prices, and other leading economic indicators.

JP Coincident Index

The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.