We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News ETH Bulls in the Need of Shanghai Hard Fork Updates for $1,700

ETH Bulls in the Need of Shanghai Hard Fork Updates for $1,700

On Sunday, Ethereum (ETH) increased by 4.64%. After losing 1.63% on Saturday, ETH gained 1.04% to $1,645 towards the conclusion of the week. ETH dipped below $1,600 for the sixth session in a row despite the positive day.

Cory Russell
2023-01-31
9613

ETH saw a rough day's start, dropping to a low of $1,567 in the morning. ETH rose to a late high of $1,661, avoiding the First Major Support Level (S1) around $1,550. To close the day at $1,645, ETH overcame the First Major Resistance Level (R1) at $1,601 and the Second Major Resistance Level (R2) at $1,629


Bitcoin (BTC) gained 3.11% on Sunday. After losing 0.16% on Saturday, BTC gained 4.55% for the week to reach $23,746. For the first time since August 19, BTC avoided falling below $23,000 and reached a new 2023 high of $23,962.


After a choppy start to the day, BTC dropped to an early low of $23,000 before moving. BTC surged to a late high of $23,962, avoiding the First Major Support Level (S1) at $22,876. BTC surpassed the key resistance levels and finished the day at $23,746. Late support was provided by the Third Major Resistance Level (R3) at $23,639

Delivered by Fed Policy Sentiment and Easing FTX Contagion Support

On Sunday, there were no outside market factors that might have given BTC, ETH, and the larger market direction. Price support was provided by market bets on a Fed interest rate rise of 25 basis points on Wednesday and a less aggressive interest rate path to achieve the target inflation rate.


Another benefit for riskier assets would be if interest rates followed a less aggressive trajectory, which would reduce the likelihood of a harsh landing.


Lessening FTX contagion risk continues to be the major driver for the crypto market in the short run.


However, the most recent White House statement added another another layer of regulatory ambiguity for cryptocurrency investors to traverse. The SEC may intensify its mantra of regulation by enforcement without providing the cryptocurrency market with a clear regulatory roadmap in response to calls for lawmakers and regulators to increase regulatory control.


Investors should keep an eye on the cryptocurrency news wires today for developments on FTX and Genesis, as well as talk around the Shanghai hard fork. Investors should be on the lookout for any hints that the scheduled March hard fork timing may be delayed.


The NASDAQ Index will probably have an impact during the afternoon session before Wednesday's interest rate announcement.


Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free