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Ethereum Price Could Spark A Fresh Upswing While Above $1,550
newsbtc7d ago

Ethereum Price Could Spark A Fresh Upswing While Above $1,550

Ethereum price started a downside correction below $1,665. ETH must clear the $1,650 and $1,720 resistance levels to continue higher. Ethereum started a downside correction below the $1,650 zone. The price is trading below $1,650 and the 100-hourly Simple Moving Average. There is a declining channel forming with resistance at $1,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it stays below the $1,720 zone. Ethereum Price Holds Support Ethereum price failed to stay above the $1,680 zone and extended its decline, like Bitcoin. ETH price gained pace for a move below the $1,665 and $1,650 levels. The price even tested the 50% Fib retracement level of the upward move from the $1,505 swing low to the $1,720 swing high. However, the bulls were active near the $1,610 level. Besides, there is a declining channel forming with resistance at $1,640 on the hourly chart of ETH/USD. Ethereum price is now trading below $1,650 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,610, the price could attempt another increase. Immediate resistance is seen near the $1,650 level. The first key resistance is near the $1,665 level. The next major resistance is near the $1,680 level. A clear move above the $1,680 resistance might send the price toward the $1,720 resistance. An upside break above the $1,720 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $1,780 resistance zone or even $1,800 in the near term. Downside Continuation In ETH? If Ethereum fails to clear the $1,650 resistance, it could start a fresh decline. Initial support on the downside is near the $1,610 level. The first major support sits near the $1,590 zone or the 61.8% Fib retracement level of the upward move from the $1,505 swing low to the $1,720 swing high. A clear move below the $1,590 support might push the price toward the $1,550 support. Any more losses might send the price toward the $1,520 region. The main support could be $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,610 Major Resistance Level – $1,665

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India's next decade: AI is an enabler, not a threat; investor expectations the real risk: Kailash Kulkarni
economictimes_indiatimes7d ago

India's next decade: AI is an enabler, not a threat; investor expectations the real risk: Kailash Kulkarni

India's growth is diversifying beyond single sectors, with trade deals and manufacturing exports emerging as key drivers. Experts at the ET Alpha Wealth Summit emphasized AI as an enabler, not a threat, and highlighted the rapid financialization of savings. However, a caution was issued against inflated return expectations, with a realistic alpha target of 12% deemed excellent.

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China Resources New Energy’s US$3.6 billion IPO smashes records on Shenzhen exchange
scmp7d ago

China Resources New Energy’s US$3.6 billion IPO smashes records on Shenzhen exchange

China Resources New Energy Holdings, the spin-off of a state-backed power producer, has smashed multiple records on the Shenzhen Stock Exchange, as it prepares to become the biggest initial public offering (IPO) and the first so-called red-chip company to trade on the bourse. The wind and solar power producer, carved out of China Resources Power, planned to raise 24.5 billion yuan (US$3.6 billion) from yuan-denominated shares on the Shenzhen bourse, it said in an exchange statement on...

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Seoul shares down on tech slump, US-Iran conflict
thehawk_in7d ago

Seoul shares down on tech slump, US-Iran conflict

Seoul, June 11 (IANS) South Korean stocks were trading lower on Thursday morning amid continuing volatility surrounding major technology shares and concerns over escalating tensions between the United States and Iran. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) had fallen 124.91 points, or 1.62 percent, to 7,605.91 as of 11:20 a.m. The index had started nearly 3 percent lower, reports Yonhap news agency. Overnight, the Dow Jones Industrial Average closed 1.87 percent lower, the S&P 500 fell 1.62 percent, and the tech-heavy Nasdaq composite shed 1.98 percent, as investors unloaded tech shares as woes brewed over the high valuation of artificial intelligence (AI) stocks. AI chip giant Nvidia dipped 3.73 percent, Broadcom slid 5.12 percent, Super Micro Computer tumbled 28 percent, and AMD dropped 4.86 percent. Market sentiment was also weighed down by news that the U.S. launched additional strikes against Iran, and the latter threatened to fire on any vessel attempting to pass through the Strait of Hormuz, which brewed concerns the two countries may reenter a full-scale war. The U.S. Consumer Price Index for May, key inflation data that drew investors' attention, was softer than expected, but was not enough to soothe concerns over a possible hawkish policy pivot by the U.S. Federal Reserve, said Seo Sang-young, an analyst at Mirae Asset Securities. In Seoul, market top-cap Samsung Electronics lost 1.49 percent, while its chipmaking rival SK hynix gained 0.63 percent. Samsung Electro-Mechanics dipped 3.38 percent, and SK Group backtracked 2.76 percent. Top automaker Hyundai Motor slipped 4.32 percent, and its sister Kia contracted 5.51 percent. Auto parts manufacturer Hyundai Mobis also dropped 4.04 percent. Leading battery maker LG Energy Solution lost 1.69 percent, and its smaller rival Samsung SDI went down 3.42 percent. Power plant manufacturer Doosan Enerbility decreased 5.38 percent, and defence giant Hanwha Aerospace plunged 5.43 percent. The Korean won was trading at 1,528 won against the U.S. dollar at 11:20 a.m., down 3.8 won from the previous session. —IANS na/

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observer24_na7d ago

Andimba Herman Toivo ya Toivo’s moral authority and his warning against Tribalism

There are conversations that dominate Namibia’s public space. We hear about economic growth, foreign investment, oil discoveries, mining expansion, GDP forecasts, and development plans. Politicians speak proudly of progress. Investors speak confidently of opportunity. Government reports point to stability and economic potential.

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