Bitcoin is unable to hold above $43,000 and the price keeps rejecting from there. Price is holding above the support area and this is a good sign for the market. Keep an eye on the $40,000 level.
Читать полностью…It seems like NKN has retested the support zone as we expected. If you have opened a long position there, we suggest increasing your stop loss to the breakeven point and holding onto the long position. It's possible that we may witness a move towards the major resistance area now and this would be an ideal zone for profit booking.
Major Resistance Area: $0.143-$0.15
COTI analysis:
Price has been rejected from the resistance area, indicating a potential test of the support zone. Consider placing buy orders in this area for new entries.
Support Area: $0.0544-$0.0571
Resistance Area: $0.0653-$0.0685
Bitcoin is currently holding a crucial support level and attempting to regain momentum. Meanwhile, altcoins experienced a downturn but have now started climbing once again. It's important to monitor whether Bitcoin stays stable above the $40,000 mark, as this will determine whether the upward trend in altcoins will continue. It's recommended to keep a close eye on any potential breakdown below $40,000, as it could trigger a chain of stop loss events. Additionally, it's advisable to use tight stop loss in all trades.
Читать полностью…C98 analysis:
Currently, the price is testing a resistance area. It's important to observe how the price reacts at this level. A break above the resistance area will indicate a continuation of the upward movement. Therefore, it's best to wait for a break above the resistance area or a test of the support area before considering new entries.
Support Area: $0.177-$0.185
Resistance Area: $0.238-$0.25
Next Resistance Area: $0.297-$0.31
Bitcoin has failed to break the trading range resistance and its price continues to move sideways. Altcoins are showing good rallies, so it's recommended to book profit and increase stop loss in open positions.
Support Area: $40,000-$42,000
Resistance Area: $45,000
MEXC will list TBT in Kickstarter at Dec 9, 13:00 (UTC).
https://mexc.com/en-US/support/articles/17827791511914
Bitcoin is trying to break the small sideways trading range. Let's see if the price is able to break and hold above this small resistance area. As said altcoins are pumping hard and better to increase your stop loss and book some profits in open positions.
Читать полностью…Educational Post
What is GameFi?
GameFi, short for Game Finance, is a market segment within decentralized finance (DeFi) that combines blockchain technology with gaming. This innovative fusion aims to not only enhance interest in specific blockchain projects but also to deepen users' engagement with cryptocurrencies, creating a novel gaming experience.
GameFi introduced a groundbreaking play-to-earn (P2E) business model that redefines the gaming landscape. By offering tangible incentives for gamers' time and effort, such as in-game cryptocurrencies and non-fungible tokens (NFTs), it can transform digital gaming into a rewarding financial ecosystem.
How GameFi Works?
At its core, GameFi leverages smart contracts, the programmable scripts on blockchains, to automate specific actions within games. These contracts bring a level of flexibility that allows for the creation of unique and innovative gaming experiences. Each game typically employs multiple smart contracts, tailored for distinct purposes like asset creation, reward distribution, and managing in-game economies.
OP analysis:
Currently, the price is approaching a significant resistance level. If it manages to break above it, we can expect a bullish trend. Wait for the price to break above the resistance level before entering new long positions.
Educational Post
What Is Sharding?
Sharding is a concept borrowed from traditional database management. It refers to the process of splitting a larger database into smaller, more manageable parts, called shards. Its application in blockchain aims to improve scalability, whilst maintaining the principle of decentralization. In essence, sharding occurs when a blockchain network is divided into smaller parts known as shards, each capable of parallelly processing transactions and smart contracts.
How Does Sharding Work?
Understanding how sharding is executed within a blockchain network requires a comprehension of how blockchain data is usually stored and processed. There are various ways data can be processed. We are going to look into sequential and parallel processing.
Typically, each blockchain node is responsible for handling all of the transaction volume within the network. This type of data processing is commonly referred to as sequential processing. This implies that every node must maintain and store all critical information, such as account balances and transaction history. In essence, each node must process all network operations, data, and transactions.
Though such a model bolsters the security of the blockchain by recording every transaction across all nodes, it dramatically slows down the processing of data. This is where parallel processing of data comes into play as it allows for multiple operations to be executed concurrently.
Sharding can be a potent solution to this predicament as it divides or 'partitions' the transactional workload across the blockchain network. This means that not all nodes need to manage or process the entirety of the blockchain's load.
Instead, sharding segregates the workload through horizontal partitioning. In this process, the data is divided into horizontal subsets, with each shard acting as an independent database capable of processing transactions separately from the others
Bitcoin (BTC) has managed to stay above the $38,000 mark, which is a positive sign. This could lead to favourable upward movement in altcoins, as traders have a positive sentiment towards them. The Fear and Greed Index is currently at 72, indicating that there is still room for further upward movement. We may see a rejection from the major resistance area.
Support Area: $34,700-$35,000
Major Resistance Area: $40,000-$42,000
SYS analysis:
Price faced heavy selling at the resistance area and was subsequently sold off. The price will likely test the support area, and you may consider a small long position there.
Support Area: $0.096-$0.102
Resistance Area: $0.13-$0.14
Bitcoin Dominance bounced from the support area. This is the reason altcoins are facing some selling pressure. We may see a move towards the resistance area and let's see how Bitcoin Dominance reacts there.
Local Support: 50.70-50.80%
Major Support: 47.80-49.00%
Resistance: 54.00-54.40%
ETH has faced heavy resistance and has been rejected multiple times. A rally may occur if the price breaks above resistance. Place buy orders in the support area and wait.
First Support Area: $1735-$1760
Second Support Area: $1840-$1864
Resistance Area: $2110-$2140
BEL analysis:
Price has been rejected at the resistance area. However, a break above this level can potentially push the price towards the next resistance area.
Local Support Area: $0.62-$0.63
Major Support Area: $0.491-$0.517
Resistance Area: $0.77-$0.81
Bitcoin has recently rebounded from the support area and has now reached the resistance area. However, it seems like BTC is facing some selling pressure at the resistance level. We will have to wait and see whether BTC can break and maintain its position above $43,000. If it does, we might see a significant gain and a move towards the major resistance area.
Support Area: $40,000-$42,000
Major Resistance Area: $45,000
The market remains stagnant and Bitcoin is not experiencing any significant changes. The bears are exerting pressure to pull down the price below the $40,000 level. It is possible that the market will undergo a correction, therefore it is advisable to use tight stop-loss measures for all open positions.
Читать полностью…ATOM analysis:
After breaking above the resistance area, the price faced a strong rejection, indicating a potential test of the support area. This zone can be considered for new entries.
Support Area: $8.25-$8.50
Resistance Area: $10.25-$10.50
Educational Post
What is Token Lockup?
The term token lockup refers to a specific period of time in which cryptocurrency tokens cannot be transacted or traded. Typically, these lockups are used as a preventive strategy to maintain a stable long-term value of a particular asset.
This may help to prevent the holders of big bags to sell their tokens all at once in the market, which would likely cause prices to tank very quickly.
It is common to see massive sell-offs after Initial Coin Offerings (ICO) where early investors (or even the project’s team) end up selling their holdings right after the cryptocurrency hits the market, causing massive drops in price.
So token lockups are used to avoid this from happening and they bring an extra level of confidence to the potential participants of a token sale.
Token lockups may also be called vesting periods. These are often set as one or two years after the launch of a cryptocurrency.
For example, if a startup creates a cryptocurrency and launches it through an ICO, they may define a lockup period for the team of two years, meaning that no team member will be able to access their tokens before the lockup period ends.
This brings a positive sentiment about the project and the team as it will likely keep them motivated to focus on long-term work, without worrying about the market value of their token.
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It seems that LINK has broken the expected pattern and moved upward. We hope you were able to open a long position at the support area. You may consider increasing your stop loss to the breakeven point and holding onto this position. The good news is that LINK has also broken the resistance area.
Next Resistance Area: $20.00-$20.80
NKN analysis:
Price has broken the local resistance and is now heading towards the major resistance area. It is recommended to open a long position upon a retest of the zone.
Support Area: $0.106-$0.109
Major Resistance Area: $0.143-$0.15
LINK analysis:
There is an uptrend, and a pattern similar to a previous one has appeared on the chart. A test of the support area is expected, where you can open new long positions.
Support Area: $14.70-$14.85
Resistance Area: $16.30-$16.65
ADA analysis:
Price has reached a major resistance area. If it breaks above, we may see a move towards $0.60. Consider buying ADA if it drops to the support area.
Support Area: $0.376-$0.386
Major Resistance Area: $0.43-$0.46
Dear members,
6 hours left until the biggest signal we have ever done on MEXC!
- Our target will be 5000%-7000% gains today. We will be using the MEXC exchange.
- We will be using the USDT pairing to buy, make sure you have USDT in your account to buy the coin.
- Hundreds of hundreds of traders will be buying at once, make sure you buy early before outsiders do.
- If you plan to use your whole balance, you can buy using 75% of your balance initially at market price, use the remaining of your balance to place buy orders!
- When you buy the coin and it's time to sell, never sell on the buy supports! Instead sell slowly in parts as the price goes up.
- After buying, we highly suggest to place buy orders below the market price as the price moves up.
APE analysis:
After breaking through the resistance area, the price successfully retested it, creating an opportunity for new buy orders as APE bounced from the support area. We may see a continuation of the upward trend.
Support Area: $1.50-$1.54
Resistance Area: $1.75-$1.80
Educational Post
What is RSA (Rivest-Shamir-Adleman)?
An RSA (Rivest-Shamir-Adleman) key pair consists of a public key and a private key and is at the core of RSA encryption, a powerful cryptographic algorithm. This key pair can be instrumental in securing your digital communications and data.
The public key is used to encrypt data or, in the context of digital signatures, to verify a signature. The private key is kept confidential by the holder and used to decrypt the encrypted data or sign digital communications. It's important to note that data encrypted with the public key can only be decrypted with the corresponding private key.
Many users choose to trade on Binance using an API. To make sure you’re as secure as possible when using an API key to trade, it’s worth generating an RSA key pair to send API requests to Binance. This means you can register the public key of your RSA API key pair with Binance and use the corresponding private key to create signed API requests.
XRP is approaching the support area. Consider opening long positions near support with the same stop-loss level. Expect sideways/accumulation movement before the next move.
Support Area: $0.57-$0.60
Resistance Area: $0.68-$0.713
Next Resistance Area: $0.77-$0.78
Over 83.6% of the Bitcoin circulating supply are in profit, being the highest level since November 2021 (near the ATH). More than 16.366 million BTC are currently in profit.
Читать полностью…