BTC Price Fails To Bounce Back, Crypto Daily TV 23/5/2023

Dash blockchain stopped processing transactions

Dash, a blockchain powering the namesake privacy-focused coin, stopped processing transactions and producing new blocks. Following the news, Binance announced that its own mining pool for DASH would suspend the distribution of mining rewards until the blockchain resumes block production.

Biden won’t accept debt deal protecting crypto traders

United States President Joe Biden expressed opposition to a debt ceiling agreement with Republican leaders that would allegedly benefit crypto traders. Attending the Group of Seven Summit in Hiroshima, Japan, Biden called the Republicans’ proposed terms “unacceptable”.

Bitcoin not bouncing back

Bitcoin price has been unable to bounce back from the crash witnessed at the beginning of the month. The impact on investors, surprisingly, has not been as significant since their behavior has not changed much since the end of March.

BTC/USD gained 0.6% in the last session.

The Bitcoin-Dollar pair rose 0.6% in the last session after gaining as much as 1.2% during the session. The Ultimate Oscillator gives a positive signal. Support is at 26331.3333 and resistance is at 27499.3333.

The Ultimate Oscillator gives a positive signal.

ETH/USD rose 0.8% in the last session.

The last session saw Ethereum gain 0.8% against the Dollar. The MACD is giving a positive signal. Support is at 1782.10 and resistance is at 1838.91.

The MACD is currently in the positive zone.

XRP/USD gained 0.7% in the last session.

The Ripple-Dollar pair gained 0.7% in the last session after rising as much as 2.1% during the session. The Ultimate Oscillator gives a positive signal. Support is at 0.4455 and resistance is at 0.4766.

The Ultimate Oscillator is currently in the positive zone.

LTC/USD dove 1.3% in the last session.

The Litecoin-Dollar pair dove 1.3% in the last session. The ROC’s positive signal is in line with the overall technical analysis. Support is at 90.2067, and resistance is at 94.3667.

The ROC is currently in the positive zone.

Daily Economic Calendar:

US New Home Sales

The number of New Home Sales is an important measure of housing market conditions. A high reading indicates a stronger economic outlook and consumer sentiment. The US New Home Sales will be released at 14:00 GMT, the US Redbook Index at 12:55 GMT, and the Eurozone’s Current Account at 08:00 GMT.

US Redbook Index

The Johnson Redbook Index measures the year-over-year same-store sales growth from a sample of large general merchandise retailers.

EMU Current Account

The Current Account measures the net flow of current transactions, including goods, services, and interest payments into and out of the local economy.

JP Jibun Bank Manufacturing PMI

The Jibun Bank Manufacturing PMI gives an early snapshot of the health of the Japanese manufacturing sector. Japan’s Jibun Bank Manufacturing PMI will be released at 00:30 GMT, Japan’s Jibun Bank Services PMI at 00:30 GMT, and the UK’s Public Sector Net Borrowing at 06:00 GMT.

JP Jibun Bank Services PMI

The Jibun Bank Services Purchasing Managers Index (PMI) captures the business conditions in the services sector. The services PMI is an important indicator of the overall economic conditions.

UK Public Sector Net Borrowing

The Net Borrowing captures the new debt held by the U.K. government, i.e., the fiscal deficit in the UK national accounts.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.