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Dan Gallagher is the proposed next Chair of the US Securities and Exchange Commission (SEC) in a prospective Donald Trump administration. The former agency commission welcomed his selection.

The shared sentiment is that with a Republican in office, crypto would enjoy a more favorable regulatory environment, with key commission members calling it out for problematic laws.

Crypto Investors Want Dan Gallagher for SEC Chair

Gallagher served as SEC commissioner during the tenure of former US President Barack Obama. Welcoming his selection, Gallagher said he would promote access to the markets while ensuring the US remains at the forefront of financial innovation.

Before this nomination, Hester Pierce, alias Crypto Mom, had been the likely successor in case a Republican administration took office. Her name was floated around multiple times ahead of the spot Bitcoin ETFs approval.

In September, John Reed Stark, formerly an official with the SEC’s internet office, highlighted Pierce’s name. Her lengthy track record of dissent and opposition to most crypto-related SEC actions made her the ideal candidate.

“Should a Republican get elected President, Chair Gensler would likely resign and the senior Republican appointed SEC Commissioner (in this case famed “crypto-mom” Hester Peirce) would possibly become acting Chair,” Reed Stark explained.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Notably, no more than three out of five Commissioners may belong to the same political party. This prevents partisan issues within the SEC. The President designates one of the Commissioners as the agency’s top executive when the current Chair resigns.

Popular belief is that a Republican taking office after the November elections would bode well for crypto. Expectations include the SEC’s crypto enforcement efforts to be reduced significantly, potentially focusing on fraud cases. This is as opposed to charging pure registration violations like crypto trading platforms failing to register as an exchange, broker-dealer, and clearing firm.

Another possible expectation is that the agency would be more open to taking significant crypto-friendly regulatory actions, such as approving more spot ETFs to give investors exposure to more financial instruments.

Under President Joe Biden’s administration, the current US SEC is said to be biased against crypto, as Democrats hold the majority. Besides Pierce, Commissioner Mark Uyeda is the only other Republican within the SEC.

Mark Uyeda Calls Out US SEC for Problematic Rules

Like Pierce, Commissioner Uyeda has also sided with the industry, criticizing the SEC’s approach to crypto disclosure rules as “problematic.”  He says Form S-1 filings need updates as they neither facilitate capital formation nor protect investors in their current state.

“The Commission should take steps to ensure that registration statement disclosure is material and informative to prospective purchasers. By the same token, the Commission should avoid requiring disclosures that are irrelevant and distract readers from the important information,” Uyeda wrote.

The critique comes after the financial regulator returned Ethereum ETF S-1 forms to issuers, calling for changes and instructing them to refile by July 8. The action suggests at least one more round of filings before the Ethereum spot ETFs can launch. Head of Government Affairs at Paradigm Alexander Grieve lauded Commissioner Uyeda, underscoring the significance of his statement.

“First time AFAIK Uyeda has been on record calling for a tailored disclosure regime for crypto assets. The SEC under a different admin would be a very different place,” Grieve remarked.

While the market anticipates the ETH ETFs will begin trading on July 4, the timeline hinges on how fast the SEC can review and respond to the issuers’ filings.

Read more: How to Invest in Ethereum ETFs?

Meanwhile, the SEC continues to clamp down on crypto firms. In a post on X, Binance.US highlighted a prolonged legal battle with the regulator. The trading platform expressed its commitment to compliance and criticized the agency’s enforcement tactics.

“On Friday, the Court decided that the SEC’s case against Binance.US will continue. We were prepared for this and look forward to having this case move forward in the judicial process,” read the announcement.

The case concerns securities law violations, offering unregistered investment products, and violating anti-fraud laws. As it prepares for the showdown, Binance.US slammed the SEC’s “regulation by enforcement,” calling out SEC Chair Gary Gensler for being politically motivated.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Solana Rallies Past Bitcoin—Momentum Tilts In Favor of SOL

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Solana started a fresh increase from the $120 support zone. SOL price is now consolidating and might climb further above the $142 resistance zone.

  • SOL price started a fresh increase above the $125 and $132 levels against the US Dollar.
  • The price is now trading above $130 and the 100-hourly simple moving average.
  • There is a connecting bullish trend line forming with support at $137 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could start a fresh increase if it clears the $142 resistance zone.

Solana Price Gains Over 5%

Solana price formed a base above the $120 support and started a fresh increase, like Bitcoin and Ethereum. SOL gained pace for a move above the $125 and $132 resistance levels.

The pair even spiked toward the $145 resistance zone. A high was formed at $143.06 and the price is now retreating lower. There was a move below the 23.6% Fib retracement level of the upward move from the $135 swing low to the $143 high.

Solana is now trading above $130 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $137 on the hourly chart of the SOL/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $135 swing low to the $143 high.

Solana Price

On the upside, the price is facing resistance near the $142 level. The next major resistance is near the $145 level. The main resistance could be $150. A successful close above the $150 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $165 level.

Pullback in SOL?

If SOL fails to rise above the $142 resistance, it could start another decline. Initial support on the downside is near the $138.50 zone. The first major support is near the $137 level and the trend line.

A break below the $137 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $125 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $137 and $132.

Major Resistance Levels – $142 and $145.



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Bitcoin Price Breakout In Progress—Momentum Builds Above Resistance

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Bitcoin price is slowly moving higher above the $86,500 zone. BTC is gaining pace and might continue higher in the near term.

  • Bitcoin found support at $84,200 and started a recovery wave.
  • The price is trading above $85,500 and the 100 hourly Simple moving average.
  • There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it clears the $88,000 zone.

Bitcoin Price Eyes Steady Increase

Bitcoin price remained stable above the $83,200 level and started a fresh increase. BTC was able to climb above the $84,200 and $85,000 resistance levels.

There was a break above a connecting bearish trend line with resistance at $85,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $86,500 resistance. It even spiked above $87,000. A high is formed near $87,562 and the price might continue to rise unless there is a move below the 23.6% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high.

Bitcoin price is now trading above $86,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $87,500 level. The first key resistance is near the $88,000 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $88,800. A close above the $88,800 resistance might send the price further higher. In the stated case, the price could rise and test the $89,500 resistance level. Any more gains might send the price toward the $90,000 level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $88,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $87,000 level. The first major support is near the $86,750 level.

The next support is now near the $86,000 zone. Any more losses might send the price toward the $85,750 support or the 50% Fib retracement level of the upward move from the $84,007 swing low to the $87,562 high in the near term. The main support sits at $84,850.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $86,750, followed by $86,000.

Major Resistance Levels – $87,500 and $88,000.



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Will XRP Break Support and Drop Below $2?

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XRP is down 5% over the past week, struggling to regain momentum as technical indicators flash mixed signals. Its Relative Strength Index (RSI) has dropped below 50, and the price remains stuck within a tight range between key support and resistance levels.

At the same time, the Ichimoku Cloud has shifted from green to red, with a thickening cloud ahead suggesting growing bearish pressure. With volatility compressing and momentum fading, XRP is nearing a critical point where a breakout—or breakdown—seems increasingly likely.

XRP Struggles to Regain Momentum as RSI Drops Below 50

XRP’s Relative Strength Index (RSI) is currently sitting at 44.54, after recovering from an intraday low of 40.67. Just yesterday, it was at 51.30, highlighting increased short-term volatility.

RSI is a momentum indicator that measures the speed and magnitude of recent price changes to evaluate overbought or oversold conditions.

Readings above 70 typically suggest an asset is overbought, while readings below 30 indicate it may be oversold.

XRP RSI.
XRP RSI. Source: TradingView.

With XRP’s RSI at 44.54, it’s currently in neutral territory, showing neither strong buying nor selling pressure.

However, the fact that it hasn’t crossed the overbought threshold of 70 since March 19—over a month ago—signals a lack of sustained bullish momentum. This could mean XRP is still in a consolidation phase, with the market waiting for a clearer direction.

If RSI continues to climb toward 50 and beyond, it may hint at building momentum, but without a breakout above 70, upside could remain limited.

XRP Faces Uncertainty as Bearish Trend Begins to Expand

XRP is currently trading inside the Ichimoku Cloud, signaling market indecision and a neutral trend.

The Tenkan-sen (blue line) has crossed below the Kijun-sen (red line), which is a bearish signal, but with the price still within the cloud, it lacks full confirmation.

The cloud itself acts as a zone of support and resistance, and XRP is now moving sideways within that zone.

XRP Ichimoku Cloud.
XRP Ichimoku Cloud. Source: TradingView.

Looking ahead, the cloud has shifted from green to red—a sign that bearish momentum may be building. Even more concerning is that the red cloud is widening, which suggests increasing downward pressure in the near future.

A thickening red Kumo often signals stronger resistance overhead and a potential continuation of a bearish trend if the price breaks below the cloud.

Until XRP breaks out decisively in either direction, the market remains in a wait-and-see phase, but the growing red cloud tilts the bias toward caution.

XRP Compression Zone: A Breakout Could Send Price to $2.50 — Or Much Lower

XRP price is currently trading within a tight range, caught between a key support level at $2.05 and resistance at $2.09. This narrow channel reflects short-term uncertainty, but a decisive move in either direction could set the tone for what’s next.

If the $2.05 support fails, the next level to watch is $1.96. A break below that could trigger a steep drop toward $1.61, which would mark the first close below $1.70 since November 2024—a bearish signal that could accelerate selling pressure.

Recently, veteran analyst Peter Brandt warned that a major correction could hit XRP soon.

XRP Price Analysis.
XRP Price Analysis. Source: TradingView.

On the flip side, if bulls regain control and push XRP above the $2.09 resistance, the next target lies at $2.17. A breakout beyond that could open the door to a move toward $2.50, a price level not seen since March 19.

For that to happen, XRP would need a clear resurgence in momentum and buying volume.

Until then, the price remains trapped in a narrow zone, with both upside and downside potential on the table.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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