Crypto

Crypto market still weak, Samsung announces NFT support for TVs | Trading Ideas| OKEx Academy

01/03/2022
Bitcoin Ethereum News

BTC is struggling to find buyers, potentially providing ETHBTC with an opportunity to regain a key point of control.

The wider cryptocurrency market is down more than 1% over the past 24 hours off the back of 2.7% and 1.5% declines in the price of BTC and ETH, respectively. Fifth-ranked altcoin SOL is down 4.2%, while hot alternative Layer-1 coin AVAX is down by nearly 6%.

The wider cryptocurrency market is experiencing moderate declines today. Source: COIN360

NFT Snapshot: Samsung adding NFT support to new TVs

The nonfungible token market is witnessing something of a resurgence lately, with top-tier projects seeing their floor prices increase at a steady clip. 

Now, South Korean multinational manufacturing conglomerate Samsung has announced NFT support for its 2022 lineup of televisions, stating that its NFT application “features an intuitive, integrated platform for discovering, purchasing and trading digital artwork through MICRO LED, Neo QLED and The Frame.”

Top altcoin gainers and losers: FTM leads majors

  • HEGIC/USDT +22.65%
  • CGS/USDT +13.64%
  • LBA/USDT +10.85%
  • THG/USDT -9.69%
  • MXT/USDT -17.45%
  • TAI/USDT -24.24%

Fantom’s FTM is the top-performing altcoin on OKEx, per the exchange’s default time settings, with a market capitalization greater than 1 billion USDT.

FTM is the top-performing major altcoin on OKEx today Source: OKEx

BTC technical analysis: In danger of breaking down

The price of BTC is struggling to overcome a key Fibonacci retracement level, in confluence with the ribbon of exponential moving averages on the six-hour time frame. With the price looking weak, BTC may be in danger of breaking down to test prices around 42,000 USDT.

OKEx’s BTC/USDT 6h chart — 1/3. Source: OKEx, TradingView

ETH technical analysis: Looking for support

The price of ETH has recently found a bit of life against BTC, but it now looks intent on testing the four-hour EMA ribbon for support. Should it succeed, ETHBTC may look to challenge the key point of control around 0.08239 BTC.

OKEx’s ETH/BTC 4h chart — 1/3. Source: OKEx, TradingView

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Source: https://www.okex.com/academy/en/crypto-market-still-weak-samsung-announces-nft-support-for-televisions-crypto-market-daily/