Cryptocurrency Daily Thefoxposts.com

Summary ⚈ Ethereum is forming an ascending triangle with strong trendline support, signaling a potential breakout above $2,150. ⚈ The recent rally pushed ETH past $2,400 after a 10-week bear market, driven by the Pectra upgrade and $400M in short liquidations. ⚈ However, overbought RSI levels and continued ETF outflows suggest caution despite recent gains. With Ethereum (ETH) stunning the cryptocurrency markets with weekly gains of over 30%, veteran trader Peter Brandt has highlighted that the asset could be setting up for another upward price move. Brandt’s Analysis pointed to a multi-year congestion pattern, suggesting a potential “moon shot” as an ascending triangle forms. This pattern, which often signals an upward move when resolved to the upside, was highlighted in his X post on May 9.  Ethereum price analysis chart. Source: Peter Brandt Supporting this bullish outlook, the long-term trend Features an ascending trendline connecti...

The U.S. dollar is facing threats and competition from BRICS who want to uproot it from the world’s reserve currency. The alliance is aiming to put local currencies ahead of the USD and make their native economies stronger. The bloc has been successful in its quest as several trade deals have been settled without the U.S. dollar recently. BRICS is aiming for more such deals where the USD will be sidelined for cross-border transactions. Also Read: US Dollar Shows No Mercy To BRICS Nations’ Currencies Read here to know how many sectors in the U.S. will be affected if BRICS ditches the dollar for trade. On the heels of the de-dollarization campaign, veteran analyst and the CEO of Factor LLC, Peter Brandt has cautioned that digital currencies could soon overpower the U.S. dollar and dictate global finances in the next decade. Also Read: 40 Countries Express Interest To Join BRICS Before 2024 Summit BRICS: U.S. Dollar Collapse On the Cards, Says Peter Brandt Source: realmoney.thes...