ADA analysis:
The price is currently trading within a narrow range and is showing respect for the support and resistance levels. You can consider trading within this range and consider buying some ADA if it falls to the support level. We may experience some sideways movement before the next significant price move.
Support Area: $0.42-$0.433
Resistance Area: $0.51-$0.52
Bitcoin is consolidating near the resistance area with a triangle pattern forming on lower time frames, suggesting more sideways movement. The support and resistance levels remain unchanged.
Читать полностью…MEME analysis:
Price is currently trading in a triangle pattern, and we may soon see a breakout. This is a no-trade zone, and it's better to wait for a better setup.
Support Area: $0.023-$0.0238
Triangle Resistance Area: $0.0288-$0.030
Educational Post
What Are Validiums?
Validiums are scaling solutions for Ethereum that use off-chain data availability and computation to process transactions more efficiently. Unlike zero-knowledge rollups (zk-rollups), which store some data on-chain, validiums keep transactions off-chain while using zero-knowledge proofs (ZKP) to verify their validity.
How Do Validiums Work?
Validiums operate by executing transactions off the Ethereum mainnet, leveraging smart contracts on Ethereum to ensure their validity and integrity. Let’s walk through some of the key aspects of validiums.
Transactions
When a user wants to make a transaction using a validium, they send it to an operator. Operators are nodes responsible for executing transactions on the validium chain. They could be a single entity or a group of entities chosen through a proof-of-stake (PoS) system.
The operator collects transactions into a batch and processes them off-chain. Once the batch is ready, the operator uses a special system called a proving circuit to create a proof that the transactions were performed correctly.
State commitments
Imagine Validium’s state (the record of all accounts and their balances) as a big tree, known as a Merkle tree. The root of this tree, called the state root, is like a fingerprint that represents the entire state. This state root is stored on Ethereum.
When the operator processes transactions, they update the state root to reflect the new balances and account states. Then, they send this new state root along with the proof that everything was done correctly to the Ethereum mainnet.
Unlike zk-rollups, block producers on a validium don’t need to publish all the transaction details on Ethereum. If Ethereum verifies the proof, the new state is accepted, and the validium is updated.
Deposits and withdrawals
Users can deposit their funds from Ethereum to a validium by sending ETH or other tokens to a special contract on Ethereum. The contract communicates this deposit to the validium off-chain and credits the user’s off-chain account.
When withdrawing funds back to Ethereum, users submit a withdrawal request to the operator. The operator includes the request in a batch, and once the batch is verified on Ethereum, users can withdraw their funds.
WLD broke the trendline in a downward direction and also retested it. We may see a continuation of the downtrend now. We may see some accumulation at the next support area.
Next Support Area: $4.00-$4.20
STRK analysis:
The price is currently trading within a falling wedge pattern and is currently testing the resistance line. If there is a break above this resistance, it would be considered bullish, and we would anticipate a move towards the next resistance area. It's important to monitor this situation closely, and we plan to open long positions after a retest following the breakout.
Level to Watch: $1.28-$1.30
ETH has cooled off after the big breakout candle. The price is currently holding the support area, and the wick below the support indicates stop hunting and a liquidity grab. We might see some accumulation at the support area before the next upward movement.
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VOXEL analysis:
The price is currently trading within a triangle pattern and is gradually approaching a decision zone. We might witness a breakout from this triangle pattern soon, which will determine the next market move. A breach below the support area indicates a bearish trend.
Support Area: $0.196-$0.202
Resistance Area: $0.22-$0.225
Educational Post
What Is Binance Megadrop?
Binance Megadrop is a token launch platform that combines elements of Binance Simple Earn and the Binance Web3 Wallet to create an innovative airdrop experience. The platform is designed to provide users with early access to new token projects and a variety of ways to earn rewards. With Binance Megadrop, users can subscribe to fixed-term products, complete Web3 quests, and receive token rewards proportional to their accumulated scores.
Key Features of Binance Megadrop
1. Early access to token projects
One of the main features of Binance Megadrop is giving users early access to selected Web3 projects before their official listing on the Binance exchange. This allows users to get involved in promising projects at an early stage, potentially benefiting from future growth and development.
2. Integration with Binance Simple Earn
Binance Megadrop is closely integrated with Binance Simple Earn, a feature that allows users to earn rewards by locking their BNB in fixed-term products. By subscribing to these locked products, users accumulate points that determine their reward allocation in the Megadrop program. The longer the lock period and the more BNB locked, the higher the score and potential rewards.
3. Engagement through Web3 quests
Another significant aspect of Binance Megadrop is the inclusion of Web3 quests. These quests are designed to engage users and encourage them to learn more about the blockchain ecosystem. By completing tasks within their Binance Web3 Wallet, users can boost their scores and earn additional rewards.
The altcoin market cap (TOTAL2) has broken the downtrend line with a big candle. The approval of the Ethereum ETF is the reason for this, and we may see more money flowing into ETH when the spot ETF trading starts. This is good for altcoins and we may see an altseason soon.
Читать полностью…BAT analysis:
Price is trading in a narrow range and has been rejected from the resistance area. A move towards the support area is expected, providing an opportunity to open a long position.
Support Area: $0.22-$0.229
Resistance Area: $0.258-$0.266
PORTAL just dipped below the support line to trigger stop losses. If you opened long positions at the support line, you're now looking at over 15% profit. Increase your stop loss to breakeven point and hold the long positions as we may see a break of this falling wedge pattern.
Читать полностью…STRK is currently breaking out of the falling wedge pattern. The price is now retesting the trendline, and if it can hold above this level, we may see a good upward rally. Consider opening small long positions here with a tight stop loss.
Major Resistance Area: $1.675-$1.805
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As the price approaches the end of the distribution phase, we see that about 15.9% of the coin supply is just below the current price, creating a strong support level.
On the flip side, only 1.1% of the coins are above the current price. This means if demand keeps increasing, we could see the price rise quickly as we enter a new phase of price discovery.
PORTAL continues to gain momentum and has broken out of the falling wedge pattern. The long position is now more than 20% profitable, so you may consider raising your stop loss and holding onto the position. We may see a continued upward movement since the price has broken out of the pattern.
Resistance Area: $0.885-$0.90
Bitcoin is now trying to reclaim above the $70,000 area. Let's see if the price can break this level or not. We may see a move on Monday when the US markets open.
Читать полностью…MicroStrategy CEO Michael Saylor announced that MicroStrategy now holds nearly 1.1 million BTC, rivaling the amount held by Bitcoin founder Satoshi Nakamoto.
Читать полностью…Countdown Alert! Less than 20 minutes until $TWIF Launches on MEXC!🔥🚀
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UNFI was unable to break above and rejected from the resistance area. This is the reason we told you not to take any trade. We may see again a test of the resistance area. The support and resistance area remains the same.
Читать полностью…Bitcoin has rebounded from the $67,000 support level and is now testing the resistance area. Let's see if the price can break the key level of $70,000. Overall, the market is looking bullish, and we expect upward movement.
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Currently, the rate at which new capital is flowing into the Bitcoin network has slowed down considerably from its peak as the market digests the recently distributed supply.
Читать полностью…Bitcoin was unable to hold the $69,000 level and the price dropped to the support area. Currently, BTC is testing the $67,000 level and it needs to hold this level; otherwise, we may see a continuation of the downtrend. The next support area is between $64,500 and $65,200, and the resistance area is between $69,000 and $70,000.
Читать полностью…According to Glassnode, small Bitcoin (BTC) holders, known as "shrimps," who own less than 1 BTC, hold about 7% of the total circulating supply.
This highlights their significant role in the ongoing trend of accumulating BTC.
Bitcoin is currently attempting to maintain the $69,000-$70,000 support range, which is crucial for preserving the bullish structure. The resistance level remains unchanged, with the next support area at $67,000-$67,500.
Читать полностью…