GT-Protocol Blog Is the market slowly turning green and set to break strong resistance this week?

Is the market slowly turning green and set to break strong resistance this week?

28.09.2023

Dear traders,

The US dollar is weakening, which could lead to a significant push up in cryptocurrencies.

Jake
TOP Trader

BTC is currently attempting to break the $26,800 resistance level, aiming for a more substantial upward movement. However, the long-term outlook remains bearish.

ETH is making an effort to break the $1,630 resistance, but it continues to hold firm, potentially preparing for a stronger upward move. Nevertheless, it requires a substantial increase in buying volume to initiate an upward trend.

XRP is still struggling with the strong $0.50 resistance. Its position remains precarious, and losing the $0.50 support could be concerning.

LINK is showing bullish momentum, and it needs to hold at $7.5 as support for a bigger push up. On a daily closing basis, it needs to push strongly beyond the overbought line.

SOL is still consolidating at $19 and shows no signs of strength to push higher. However, there is a risk of a bearish continuation.

EOS is consolidating at $0.57 and requires a more significant push to break through the strong $0.60 resistance. Sustaining a price increase still depends on a substantial increase in buying volume.

LTC is still trading and consolidating at $63, with a significant possibility of a breakdown.

The DXY is currently overbought and is now facing strong resistance.

Crypto/stock daily news:

ETHEREUM HITS $10B IN ALL-TIME REVENUE

The Ethereum network recently passed a big milestone…$10B in all-time revenue.

According to a recent report from Caleb & Brown:

The Ethereum network has generated $16.8B in fees

60% of that has turned into revenue

The craziest part? Ethereum reached $10B in revenue faster than Facebook.

And Microsoft. And Shopify. And Zoom. And Salesforce.

In fact, the only company to do it faster is… Google.

The cool thing is Ethereum isn’t even a company.

It’s a decentralized network. So, all that revenue goes back to network stakers that help keep Ethereum up and running.

It’s a win-win for everyone.

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