SKL analysis:
SKL is currently testing the support area, providing an opportunity to open a long position with a tight stop loss. There might be some accumulation at the support area before the next move.
Support Area: $0.030-$0.033
Resistance Area: $0.0525-$0.056
The total marketcap of altcoins (TOTAL2) is trading within a range defined by the support and resistance levels. If TOTAL2 can surpass the resistance level, we could expect a strong uptrend in altcoins. At the moment, altcoins are in an accumulation phase, and we might experience some sideways movement for the next few days.
Читать полностью…REZ analysis:
Price was rejected from the resistance area and is now finding support at the trendline. There may be a move towards the resistance area again. Consider opening a long position with a tight stop loss.
Support Area: $0.0425-$0.043
Resistance Area: $0.053-$0.055
ETH is displaying strength against BTC. It has not dropped much despite Bitcoin volatility, indicating accumulation. There might be an accumulation in ETH before it tests the resistance area.
Читать полностью…ANKR analysis:
Price is currently testing the support area, and we anticipate a rebound from this level. Consider opening a long position with a tight stop loss.
Support Area: $0.024-$0.025
Resistance Area: $0.032-$0.033
LPT has been rejected from the resistance area and is now moving towards the support area. Consider placing buy orders in the support zone and wait.
Support Area: $9.00-$9.60
IRIS analysis:
Price is currently trading within a range, indicating a neutral zone. It's advisable to wait for a test of the support area before considering new entries.
Support Area: $0.0115-$0.0122
Resistance Area: $0.018-$0.019
The TOTAL crypto market cap dropped to a lower support area to grab liquidity and then rebounded from there. Prices are showing a strong upward movement, and the support level has also been retested. We may see a continuation of the upward movement in the crypto market.
Читать полностью…The price of Bitcoin has risen above $60,000 but is currently showing mixed signals, with no clear indication of a definitive upward or downward movement. It appears to be moving sideways around the $60,000 level, suggesting the potential for a significant price movement soon.
Читать полностью…Educational Post
What Is Monetary Policy?
Monetary policy refers to the actions taken by a nation's central bank to regulate the money supply and the cost of borrowing in the economy. Monetary policies are used to achieve specific economic goals, such as controlling inflation, managing employment levels, or encouraging economic growth.
To implement monetary policy, central banks can adjust interest rates, conduct open market operations (OMOs), and alter reserve requirements for commercial banks. By influencing the supply and cost of borrowing money, they can either increase economic activity or cool down an overheating economy.
How Does Monetary Policy Work?
Monetary policies can be either expansionary or contractionary.
Expansionary monetary policy
Expansionary monetary policies typically involve lowering interest rates while increasing the money supply to stimulate economic growth. They are often implemented during recessions or periods of low economic activity. The goal is to make borrowing cheaper, encouraging consumers to spend and businesses to invest, thereby boosting overall economic activity.
Imagine that the central bank of Country X wants to stimulate the economy by lowering interest rates. Jane and John, residents of Country X, notice that borrowing costs have decreased. Jane decides to take out a loan to start a new business, while John takes advantage of lower interest rates to buy a new home. As such, demand for goods and services increases, leading to job creation and further economic activity.
Example: 2008 financial crisis
During the 2008 financial crisis, the U.S. government implemented an expansionary monetary policy to revive the economy. They lowered interest rates and introduced quantitative easing (QE), i.e., buying government and mortgage-backed securities. This increased the money supply and made borrowing cheaper. Consequently, consumers spent more, businesses invested more, and the economy began to recover.
Contractionary monetary policy
Contractionary monetary policy involves raising interest rates and decreasing the money supply to slow economic growth and combat inflation. By making borrowing more expensive, the central bank aims to reduce spending and investment, decreasing overall demand and cooling down the economy.
Imagine that the central bank of Country Y wants to control rising inflation by increasing interest rates. Residents Sarah and Mike find that the cost of borrowing has gone up. Sarah decides to delay her plans to expand her business, and Mike postpones buying a new car. Consequently, consumer demand falls, and businesses see a decline in sales, which helps lower inflation and stabilize prices.
Example: early 1980s
In the early 1980s, the Federal Reserve used a contractionary monetary policy to combat high inflation in the United States. The Fed raised interest rates, making borrowing more expensive. This successfully brought down inflation but also led to a temporary increase in unemployment.
Bitcoin retested the support area but was unable to break above it. The price needs to break above $60,000 to gain positive momentum. Let's see how the price reacts in the next couple of days.
Читать полностью…CRV breaks the falling wedge pattern in an upward direction. We are looking to retest for opening new long positions. The falling wedge is a bullish pattern and usually brings a good rally.
Support Area: $0.275-$0.28
Resistance Area: $0.40-$0.44
Binance Will Delist CVP, EPX, FOR, LOOM, REEF, VGX on 2024-08-19
https://www.binance.com/en/support/announcement/e2fcd2c945654c8d832395335429403e
ORDI analysis:
Price gave a fakeout below the major support area to liquidate overleveraged positions. ORDI is now trading at the support area, and you can open a long position with a tight stop loss. We may see a move towards the next resistance area.
Support Area: $26-$28
Resistance Area: $33.60-$35.50
Educational Post
What Is TON?
TON, short for The Open Network, is a decentralized ecosystem that has the TON Blockchain as its core component. Created by the team behind Telegram, TON aims to address the limitations of existing blockchains, such as scalability, speed, and usability.
History of TON
The development of TON started in 2018, led by Telegram’s founder, Pavel Durov, and his brother, Nikolai Durov. At first, the project aimed to integrate a blockchain-based cryptocurrency (Gram) into the Telegram ecosystem, allowing users to make transactions and access decentralized applications (DApps) directly from the messaging app.
Despite initial enthusiasm and a successful fundraising campaign, legal challenges from the U.S. Securities and Exchange Commission (SEC) forced Telegram to halt its involvement in the project in 2020.
The project was later revived by the open-source community and rebranded as The Open Network (TON). Today, TON is maintained and developed by a community of developers and enthusiasts.
How Does TON Work?
Consensus mechanism
TON uses a Proof of Stake consensus mechanism, where validators are selected based on the number of TON tokens they hold and stake as collateral. Validators are responsible for verifying transactions and adding them to the blockchain. In return, they earn rewards in the form of TON tokens.
Multi-chain architecture
TON adopts a multi-chain architecture that includes the TON blockchain as the masterchain and smaller chains known as workchains.
The TON masterchain is responsible for managing the core ecosystem data, including protocol updates, blockchain validations, and operations between different chains. The workchains are customizable networks that can operate independently and serve different purposes
Bitcoin is currently attempting to surpass the $60,000 level. We will have to wait to see if the price can break above it. If there is a rejection at this point, the price will likely move back towards the lower support area. It is anticipated that there will be sideways movement over the weekend.
Читать полностью…The Accumulation Trend Score (ATS) has surged to its maximum value of 1.0, highlighting a major shift back to accumulation. This indicates significant accumulation in the market over the past month.
Читать полностью…Bitcoin gives a wick to the $56,000 level and is instantly pumped from there. We may see some range trading between the $55,000-$60,000 area for the next few days.
Читать полностью…Positive CVD values suggest a net buy-side pressure, where as negative values infer a net sell-side pressure.
When we analyze the yearly median value of Spot CVD, we can see that the median value has fluctuated between -$22m and -$50m over the last 2 years, suggesting the presence of a net-sell side bias.
As said Bitcoin is giving mixed signals and the price again drops below the $60,000 level. The lower support is $55,000-$56,000 and a possible test of this level is expected before the next move.
Читать полностью…Since March, the outlook for Ethereum (ETH) recovery has been dim. The burn rate has hit an all-time low, while inflation has soared to all-time highs since the switch to Proof of Stake (POS). By the next halving, ETH could surpass Bitcoin in terms of issuance. The transition to Layer 2 solutions isn't generating enough usage to drive demand.
Currently, the primary use case for ETH seems to be moving stablecoins. Additionally, Uniswap's trading volume is declining sharply, with current activity barely over 10% of what it was in March, and the downward trend continues.
$BCCOIN pumping hard since our call and made a high of 3.35$ . The position printed a peak profit of more than 4X from our entry. We hope you booked some Massive profit From our Insider call.
Читать полностью…CFX analysis:
Price bounced from the support area and is now trading in a non-trading zone. You can open a long position at the support area if the price retests this zone.
Support Area: $0.10-$0.112
Resistance Area: $0.14-$0.15
ORDI tested the support area and bounced from there. I hope you opened a long position at the support area. The long position is now more than 16% in profit. You can increase your stop loss to the breakeven point and hold the trade. The resistance level remains the same.
Читать полностью…LPT analysis:
Price is currently approaching the resistance area. We will observe how price responds to this level. If there is a rejection, the price will likely move toward the support area.
Support Area: $9.00-$9.60
Resistance Area: $12.90-$13.50
Bitcoin Dominance continues the uptrend as expected. Dominance is dropping now and we may see a test of the local support area.
Local Support Area: 56.75-56.85%
Major Support Area: 54.90-55.30%
Bitcoin began the week with a red candle and broke through the support area in a downward direction. Let's see how the price reacts when the US market opens. If the daily candle closes below the support area, we can expect some selling in the market.
Читать полностью…YOLO/USDT Mega Signal 2.0 Recap! 🚀
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