Connect with us

Business

Price Update August 20th : BTC, ETH, ADA, BNB, XRP, DOGE

Bitcoin has resumed its move toward $50,000 and this is most likely to send altcoin prices higher.

Published

on

Bitcoin has resumed its move toward $50,000 and this is most likely to send altcoin prices higher.

BTC/USDT

Bitcoin had a tough battle between the bulls and the bears near the 200-day simple moving average at $45,692 for the past few days. The bears pulled the price below the 200-day SMA on the 17th but could not break the 20-day exponential moving average of $44,183 support.

Aggressive buying was seen at the 20-day EMA and it pushed the price back above the 200-day SMA on 19th. The growing 20-day EMA and the relative strength index near the overbought territory showed that the bulls are in control.

ETH/USDT

Ether turned down from $3,335 on the 16th while bears tried to pull the price below the breakout level at $3,000 on 18th.  The price dipped below this support and the bears could not sustain the lower levels, which meant there was strong buying by the bulls.

ADA/USDT

The bulls flipped the $1.94 level to support on the17th and 18th. This intensified further buying which showed the bulls pushing ADA above the all-time high at $2.47. The ADA/USDT pair could now rally to $2.73 where it is again likely to face stiff resistance from the bears. If bulls bulldoze their way through this resistance, the pair could reach the psychological barrier at $3.

BNB/USDT

The Binance Coin turned down from the overhead resistance at $433 on the 17th but the bulls did not allow the price to break below the 20-day EMA at $384. A strong rebound off the 20-day EMA has pushed the price above the stiff resistance at $433. If bulls sustain the price above $433, the BNB/USDT pair could start its upward march toward $520 and then to $600.

XRP/USDT

XRP rose above the downtrend line of the descending channel and the overhead resistance at $1.07 on the 13th, which completed a rounding bottom pattern. The bears tried to pull the price back below $1.07 but the bulls blocked their attempt to do so.

DOGE/USDT

Doge coin broke and closed above the $0.29 resistance onthe14th, which cleared the path for a rally to $0.35. The bears mounted a stiff resistance at this level on the 16th and pulled the price back to the breakout level at $0.29.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk