US Court Slaps UAE Crypto Firm CLS Global with $428K Fine for Wash Trading

The U.S. court has imposed a penalty of $428,000 on CLS Global for engaging in wash trading activities. Wash trading is the illegal practice of buying and selling the same asset to create the appearance of active trading and manipulate prices. This deceptive tactic is used to give the impression of high trading volume and [...]

The post US Court Slaps UAE Crypto Firm CLS Global with $428K Fine for Wash Trading appeared first on Crypto Breaking News.

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Ethereum CLS Shows Price Will Rebound Above $2,600, Heres Why

The Ethereum price is showing signs of a possible trend reversal as technical indicators like the Continuous Linked Settlement (CLS) suggest a breakout may be on the horizon. The crypto expert who shared this analysis has predicted that Ethereum is set to rebound to $2,600 in this bull cycle.  Ethereum CLS Sparks Potential Price Rally David Perk, a TradingView crypto analyst recently published a detailed technical analysis of the Ethereum price. The analyst forecasts that ETH could soon reach $2,600 and beyond in the coming months.  Related Reading: Crypto Pundit Says Ethereum Price Is Destined To Reach $10,000 This Cycle, Heres Why Perk based his predictions on Ethereums daily and monthly CLS. According to his analysis, if Ethereums price action can respect its daily CLS and liquidity zone, it could gradually move upward, targeting its monthly CLS of $2,055 before skyrocketing above $2,600.  His analysis report described in detail what CLS means and how it can affect a cryptocurrencys trajectory. Perk disclosed that CLS represents smart money across all markets. It is the global settlement system used by major financial institutions, including Foreign Exchange (FOREX) markets.  The crypto analyst suggested that CLS processes a massive volume of capital from large investment and central banks, boasting a daily volume of more than $6.5 trillion. In the case of Ethereum, since CLS follows a structured settlement process, traders who track these cycles can potentially anticipate significant price changes and liquidity shifts. Moreover, by knowing when large institutional money is entering or exiting the market, analysts can predict ideal entry and exit points for a cryptocurrency.  Perks Ethereum price chart shows an area marked in green, which represents the cryptocurrencys liquidity zone. Additionally, the daily and monthly CLS can be seen, with the former acting as a support area and the latter as a resistance or target for future price movements.  ETH Falling Wedge Breakout Targets $2,800 In other news, crypto analyst Marzell has shared a bullish prediction of the Ethereum price in an X (formerly Twitter) post. Marzell announced that Ethereum has successfully broken out of a Falling Wedge pattern.  Related Reading: Ethereum Price Recovery: Analyst Predicts Blow Off Top To $3,300 In One Week, Heres Why The Falling Wedge is known as a common bullish reversal pattern where a cryptocurrencys price moves within two converging trend lines, forming lower highs and lower lows. Notably, Ethereum has broken out of this wedge, signaling a potential rebound is imminent. The breakout occurred around the $1,991 price point, confirming its bullish momentum. As a result, Marzell predicts that Ethereum could experience a massive rally to $2,821, marking a whopping 41.69% increase from its breakout level. Currently, the price of Ethereum is trading at $2,008, already seeing a rise of 3.7% in the last 24 hours. If a rally to $2,821 occurs, it would represent a surge of approximately 40.5%. Featured image from Unsplash, chart from Tradingview.com

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Dogecoin Discount Incoming: Analyst Reveals When To Start Buying

The Dogecoin price may be in for more pain, as a crypto analyst has projected another significant breakdown to new lows. On the bright side, the analyst suggests that this retracement will offer a discount for traders who aim to capitalize on the buy-dip opportunities and accumulate ahead of a potential increase.  If it fails to break a key resistance area, the Dogecoin price could see another major drop to new lows at $0.125. According to TradingView crypto analyst Dave Hunter, this bearish outlook is a more likely scenario for Dogecoin, considering its current market performance and volatility. Dogecoin Price Set To Retrace To $0.125 Discount The TradingView analyst shared a chart representing the Dogecoin price action on a weekly timeframe, highlighting the trajectory of his bearish breakdown projection for the meme coin. Hunter calls his projected decline in the Dogecoin price a discount zone, suggesting an area where traders would find it more favorable to accumulate the meme coin.  Related Reading: Dogecoin Price Hits Double Bottom To Trigger Massive Rally, Heres The First Target The red horizontal line at $0.24 marks an order block, which is the critical resistance level at which Dogecoins price is set to react. The analyst urges traders to withhold buying more Dogecoin until it attempts a short-term retracement to this area. Given the weakened state of the market, Hunter emphasized that shorting should take more precedence for traders. The reason is probably because Dogecoin has been in a declining state for weeks now, and initiating a sell-off would help traders prevent further financial losses, especially since additional slips in the meme coins value are expected.  The TradingView analyst warns that liquidity sweeps from lower levels may occur, meaning stop-losses of long positions may be triggered, fueling more selling pressure. Typically, an increase in selling pressure for any cryptocurrency often fuels volatility, potentially leading to a price drop as demand decreases.  While he shared his bearish forecast for Dogecoin, Hunter also mentioned Dogecoins Central Liquidity Score (CLS) and market timing for traders. He highlighted that smart money operates in specific cycles, and traders should consider aligning their market entries with these CLS-based liquidity ranges to limit trade risks.  DOGE Rebound Incoming: Buy Signal Confirmed In other news, Dogecoin could be getting ready for a potential price rebound, as its TD Sequential just flashed a buy signal on its daily chart. Renowned crypto analyst Ali Martinez highlighted this discovery on February 27 in an X (former Twitter) post. Related Reading: Dogecoin Price Faces Moment Of Truth As It Battles The Macro 0.5 Fib Extension The analysts chart indicated a 9 TD Sequential, which typically appears after nine consecutive downward candles and signals a potential trend reversal to the upside. The S13, indicated by the green arrow on the chart, also reinforces this rebound outlook. If the trend holds, Martinez believes Dogecoin could see a major upward movement from its current price of $0.21 soon. Featured image from Adobe Stock, chart from Tradingview.com

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JPMorgan raises price targets on Bitcoin mining stocks

The increases partly reflect a HODL premium akin to MicroStrategys, the analysts said.

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SEC, FBI, DOJ coordinate takedown of 4 fraudulent crypto firms

A complex set of overlapping companies, individuals and alleged crimes have been tackled by US federal authorities.

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