From sources, Iran’s Central Bank now allowed the Country’s Financial Institutions to use Cryptocurrency, derived from Sanctioned miners, to pay for imports. This will enable the local exchanges in IRAN to process payment for goods and services within the country and also to have clear and transparent transactions with the countries allies to bycut the U.S. Economic Sanctions.
Most Countries now leverage on the Chinese government statement that cryptocurrency can be used as vehicle for investment, this is green light for adoption of cryptocurrency.
In the past 24 hours, the crypto market volume spiked to record high of $216,545,775,090 as the cryptocurrency community donated relief funds to INDIA due to the covid-19 that has damaged the country.
The total market capitalization also saw an increase of 4.2% to a high of $216,545,775,090 with BTC & ETH dominance at 47.7% and 14.2% respectively.
ETH, second leading crypto asset by market capitalization of $310,997,437,160, as of the time of writing, rallied yesterday by 7.92% to the upside and printed a new record all time high of $2686.27.
Prior to yesterday session, the bulls have been able to conquer $2170.01, bear territory, after ETH price printed rejection wicks to the downside on the 25th of April.
With sustainable volume from previous session, the bulls defended $2484.20 during the open Asian trading session yesterday. With the 20 day SMA acting as a confluence point for bullish bias, the bulls broke $2610.32 previous high and also more with high momentum, the bulls climbed higher to print a record all time high of $2686.27.
The RSI is in positive territory at 67mark for a bullish sentiment in the next few sessions. The bullish divergence of the Bollinger band shows the bulls are in control of the market. In the days ahead, as the momentum increases, the ETH will record a new all-time high of $2941.19 to tap into the upper part of the bullish channel on the 4-hour chart.
1inch, the decentralized finance (DeFi) protocol for routing trades, released a wallet for Apple’s iPhone yesterday. Fundamentally, traders got excited as the use case of the defi project reaches out to meet global demand.
1INCH’s volume recorded a high of $264,499,685 as the traders loaded up their long position in anticipation for a rally.
At the close of previous trading session, 1INCH consolidated after making a recovery from last week red sea market.
Yesterday, during the open Asian opened session. 1INCH broke out of the consolidation zone and rallied by 20.30% to a high of $5.2188.
The 9 EMA acted as a dynamic support to the upside. The MACD crosses the zero line and trail above the signal line. More so, the histogram also increase, this indicates a bullish sentiment towards the pair.
1INCH price will tap on the overhead resistance at $5.4334 as momentum is still on the side of the bulls although we should expect some level of range structure to allow the pairs to create a higher low at $4.4730. If the bulls break out of this resistance, 1INCH price will revisit on the high at $6.4857 built on 18th of April in the next few session.
Yesterday, from the official blog of CELR Network,
“Celer and StarkWare announce a partnership to collaborate and add a ZK Rollup version to layer2.finance’s platform offerings utilizing Stark Ware’s StarkEx services and Cairo programming language to lower the barrier of entry for the growing demand of new users for DeFi applications.”
From a fundamental perspective, this partnership acted as a bullish catalyst to the upside as the CELR price printed a bullish flag in yesterday’s session.
CELR price broke a bearish trend line on the 26th of April to north.
After previous session’s rally, CELR price cooled off the bullish pressure by consolidating with range bound of $0.061541 and $0.058049 to form a bullish flag.
At the close of the daily session, CELR price spiked to an intraday high of $0.068136.
CMF indicated out flow of cash as the index downtick to 0.1873 for a swing low.
In the next few sessions, CELR bull will be faced with $0.078417 overhead resistance. The bulls will need broader market support to thrust CELR price above it. If this scenario plays out, CELR price will extend the rally to a high of $0.1 in the next few sessions.