Shiba inu started the week trading marginally higher, despite cryptocurrencies mostly consolidating on Feb. 27. At the time of writing, the global market cap is currently up 0.83%, as volatility has intensified. Litecoin also rebounded on Monday, hitting a four-day high.
Shiba inu (SHIB) continued to move away from a recent support point to start the week, as prices rose marginally higher on Monday.
Following a low $0.0000124 on Sunday, SHIB/USD raced to an intraday high of $0.00001307 earlier today.
This move comes as the meme coin bounced from its long-term price floor at the $0.00001230 mark.
Overall, SHIB is down 7% in the last seven days, and this comes following a downward cross of the 10-day (red) and 25-day (blue) moving averages.
In addition to this, the relative strength index (RSI) of 14 days has also failed to move past a ceiling at the 52.00 mark
The index is now tracking at 50.44, which comes after bulls rejected a breakout of a floor at 49.00.
In addition to SHIB, litecoin (LTC) also climbed higher, hitting a four-day high in the process.
LTC/USD moved to a peak of $95.58 to start the week, after ending the weekend trading at a bottom of $93.79.
As a result of today’s gains, the token is now trading at its strongest point since last week, Thursday.
The initial move came following a breakout of a resistance point of 50.00 on the RSI indicator.
As of writing, the index is hovering slightly above this mark, with a current reading of 50.43.
LTC has since declined, and is now at $94.64, which appears to be a result of price strength tracking near a ceiling.
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Do you expect litecoin to climb above $100.00 this week? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Shiba inu started the week trading marginally higher, despite cryptocurrencies mostly consolidating on Feb. 27. At the time of writing, the global market cap is currently up 0.83%, as volatility has intensified. Litecoin also rebounded on Monday, hitting a four-day high.
Shiba inu (SHIB) continued to move away from a recent support point to start the week, as prices rose marginally higher on Monday.
Following a low $0.0000124 on Sunday, SHIB/USD raced to an intraday high of $0.00001307 earlier today.
This move comes as the meme coin bounced from its long-term price floor at the $0.00001230 mark.
Overall, SHIB is down 7% in the last seven days, and this comes following a downward cross of the 10-day (red) and 25-day (blue) moving averages.
In addition to this, the relative strength index (RSI) of 14 days has also failed to move past a ceiling at the 52.00 mark
The index is now tracking at 50.44, which comes after bulls rejected a breakout of a floor at 49.00.
In addition to SHIB, litecoin (LTC) also climbed higher, hitting a four-day high in the process.
LTC/USD moved to a peak of $95.58 to start the week, after ending the weekend trading at a bottom of $93.79.
As a result of today’s gains, the token is now trading at its strongest point since last week, Thursday.
The initial move came following a breakout of a resistance point of 50.00 on the RSI indicator.
As of writing, the index is hovering slightly above this mark, with a current reading of 50.43.
LTC has since declined, and is now at $94.64, which appears to be a result of price strength tracking near a ceiling.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect litecoin to climb above $100.00 this week? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
The bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin miners, or approximately 12 megawatts (MW) of capacity. The new Mawson site is capable of reaching 4.2 exahash per second (EH/s) when fully complete.
Sharon, a city in western Mercer County, Pennsylvania, now has a bitcoin mining facility used by Mawson Infrastructure Group, a crypto mining operation and digital infrastructure provider. Mawson told the Youngstown Publishing’s Business Journal Daily that the company delivered six modular data centers capable of holding approximately 3,528 ASIC mining rigs.
The miners will consume 12 MW of capacity, but the site can hold up to 35,280 ASIC bitcoin mining rigs, according to Mawson. The firm said the more than 35,000 mining rigs will produce around 4.2 EH/s of SHA256 hashpower, and the first 12 MW will be online during the next quarter.
Bitcoin miners, in general, have had a hard time dealing with the crypto market’s downturn, and some mining operations went bankrupt due to losses. However, 2023 has been better as BTC prices have increased significantly over the past two months. On the same token, the network’s difficulty reached an all-time high this week at 43.05 trillion hashes.
Mawson stated that the new mining operation in Pennsylvania will be divided between Mawson’s self-mining and the company’s hosting services. The first six modules should be online by the second quarter, and the remaining 120 megawatts should come online throughout the rest of 2023 and into early 2024, the company said.
Mawson also operates a 100-megawatt site in Midland, Pennsylvania, and the two bitcoin mining sites combined will produce an estimated 7.8 exahash per second (EH/s). The Sharon site launch “is further proof of Mawson’s push to deploy infrastructure and energize through 2023 and to achieve our previously stated targets,” said Liam Wilson, the chief operating officer of the bitcoin mining site, in a statement.
Like many publicly traded bitcoin mining operations, Mawson’s shares on Nasdaq have not performed well over the last few months. Six-month statistics indicate that the shares are down 39.50%, and 30-day metrics show the stock has dropped 11.55% against the U.S. dollar.
What do you think about Mawson launching a bitcoin mining site in Sharon, Pennsylvania and exiting Australia? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Source From : News