The weekly chart displays that TOTAL CAP has been falling since reaching an all-time high of $2.96 Trillion (Tn) on Nov 10. Further, it will fall l culminated with a low of $1.92 Tn on Dec 4.

Later, TOTAL CAP bounced, leaving a long lower wick in place. Further, most importantly, the wick was created inside the $1.85 – $2.07 Tn support area made by the 0.5-0.618 Fib retracement support level.

But technical indicators offer a neutral look. 

Moreover, the MACD, which is created by a short- and long-term moving average (MA) is crashing but is still positive. This means that the short-term MA is speeding up, it is still faster than the long-term one.

At the same time, RSI is falling but is above 50. Basically, the RSI is a momentum indicator, and movements above/below 50 are considered signs of a bullish/bearish trend

In addition, cryptocurrency trader @AltstreetBet tweeted a TOTAL CAP chart, stating that an increase towards $2.6 Tn is expected.

Also, the daily chart does provide a more bullish outlook. This is noticeable from the bullish divergence in both the RSI and MACD. This is an occurrence that very often precedes bullish trend reversals. Therefore, it is possible that an upward movement will follow.

Presently, there is resistance at $2.37 Tn, created by a descending resistance line and horizontal resistance area.

If TOTAL CAP is successful in breaking out from the resistance line, the next horizontal resistance level would be at $2.63.

In addition, the Altcoin market cap (ALTCAP) provides a nearly identical outlook. The outlook is with the same bullish divergence present in both the RSI and MACD.

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Reuters writes that the bank explained its decision saying that transacting with crypto poses security risks. In particular, these risks are connected to crypto’s decentralized nature and lack of regulation. This ban will come into effect on April 30.

Bitcoin and some altcoins have decreased in price after the announcement. Bitcoin has lost around 3% and Ethereum has lost about 3%. Moreover, Binance Coin is down by about 9%, and XRP fell by about 12% in the last 24 hours, per Coin Market Cap data.

The cryptocurrency that is outperforming today with its massive 24-hour gains of almost 200% is Dogecoin. According to CNN, the significant boost of DOGE price could be related to Elon Musk tweeting about the meme-like crypto. He tweeted a photo of a painting by a Spanish artist captioning it “Doge Barking at the Moon,” the source says.

Support for DOGE already pushed it to the tenth place among cryptocurrencies by market cap this week. Now, it has already climbed to fifth, per Coin Market Cap data, and is trading at around $0.39 at the time of writing.

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MicroStrategy is one of the companies that accumulate Bitcoin as part of their portfolios. Last week, the firm purchased 253 BTC worth $15 million at the time of purchase. According to Crypto News, on April 5, 2021, the total Bitcoin holdings of the company were 91,579 BTC.

The CEO of MicroStrategy Michael Saylor sees investing in Bitcoin as the best way to spend time or money. Last month, he even made a prediction of a $100 trillion market cap for Bitcoin in the future.

However, there are traditional banking institutions that remain skeptical about crypto, and HSBC Canada recently blocked its customers from buying MicroStrategy stocks because of the company’s exposure to Bitcoin.

Bitcoin’s market cap is now over $1.1 trillion, per Coin Market Cap data. It is trading at around $62,900 at the time of writing.

The post The board of directors at MicroStrategy will be paid in Bitcoin appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

XRP currently ranks fourth on Coin Market Cap with a market cap of over $61.1 billion. It is trading at around $1.35 at the time of writing.

The lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple has been ongoing since December 2020. At the time, the SEC has charged Ripple with an illegal securities offering of XRP worth $1.3 billion.  

Last week, Ripple had another small win when the judge allowed the company to look into the SEC’s internal communications, searching for information on what defines cryptocurrency as a security. Also last week, a petition to Gary Gensler, the SEC’s Chairman-Designate, was started asking to end the lawsuit against Ripple.

The post Another court decision in Ripple’s favor pushes the price of XRP higher appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The partnership between the university and the blockchain company is part of the university’s strategy to support local business, the source says. Moreover, according to Cointelegraph, Elrond has several offices in Sibiu and many LBUS graduates work in the company.

Elrond (EGLD) ranks 39^th on Coin Market Cap, with a market cap of over $3.9 billion. Its price has increased by 4% in the past 24 hours. EGLD is trading at around $229 at the time of writing.    

Cryptocurrency adoption in education is not widespread, yet there are already examples of using crypto.

Earlier this month, Edinburg’s Morningside School of Music started accepting crypto for music lesson payments. According to uDiscover Music, many of the students at the music school suggested adding crypto as a payment method. In particular, those students work in the fintech sector. Moreover, the school has a positive opinion on crypto and has already used it previously for making school-related purchases.

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