NEAR analysis:
Price tested the support and bounced from there. You can open long positions if the price drops to the support area again.
Support Area: $4.00-$4.50
Resistance Area: $5.50-$5.85
Bitcoin is currently trading sideways, with the possibility of retesting the resistance area. We'll have to wait and see if the price can surpass $60,000 in the upcoming days.
Читать полностью…AVAX analysis:
Price is currently trading in a downtrend channel and is approaching the resistance trendline. A break of the downtrend channel would be considered bullish, and a long position can be opened after confirmation.
Resistance Area: $27.30-$27.70
Support Area: $24.10-$24.80
Bitcoin is displaying strength and has tested the resistance area. Let's see if the price is able to break above the resistance area. A break above $60,000 is bullish. The market is not currently reacting to the German Government's BTC movements.
Читать полностью…GALA Moved nearly 10% in favor after the dropping back to the support as per the call. Also, price forming the Triangle pattern and looks like on a verge to breakout. Price still giving unclear sentiment, so eyes on breakout of the pattern now and trail stops too.
Читать полностью…The heatmap indicates high liquidity above the $58,000 level, suggesting a potential movement towards this point to access the liquidity. Keep a close watch on the liquidation data.
Читать полностью…Bitcoin is trading sideways and we may see similar movement for the next couple of days. The market appears to have absorbed the selling pressure and is forming a new structure. The major resistance level is in the $59,500 - $60,000 range.
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Educational Post
What Is Danksharding?
Derived from the name of Ethereum researcher Dankrad Feist, danksharding introduces a transformative approach to sharding technology. Sharding involves breaking down a blockchain database into smaller, more manageable parts for increased efficiency. Unlike conventional sharding methods, danksharding simplifies the architecture, focusing on a merged market fee concept.
In traditional sharding, each shard has distinct blocks and block proposers. Danksharding streamlines this by having a single block proposer, enhancing transaction processing and data storage efficiency. This innovation addresses the blockchain trilemma by prioritizing security, decentralization, and scalability.
Key Features of Danksharding
1. Merged market fee: Danksharding introduces a unified market fee, streamlining the transaction process by minimizing complexities associated with having multiple block proposers.
2. Optimized data availability: The primary focus of danksharding is to enhance data availability for rollups, a Layer 2 scaling solution on Ethereum. By efficiently managing data, Danksharding significantly improves the network's performance.
3. Simplified sharding architecture: Danksharding simplifies the sharding structure, making it more straightforward and efficient. This approach addresses the challenges posed by the traditional trilemma, fostering a better balance between security, decentralization, and scalability.
Once again, SOL dropped below the support area to trigger stop losses and liquidate overleveraged positions. We previously advised accumulating more SOL during the retest. The price is holding the support, which is a positive sign for now.
Читать полностью…GALA analysis:
Price has tested a major support area and held this level. It is now bouncing from this level, indicating a potential long-position opportunity if it drops back to the support area.
Support Area: $0.0195-$0.0213
Resistance Area: $0.0263-$0.028
As we predicted, the market has recovered, and we hope you bought the dip!
Majority of altcoins are showing double-digit gains from the July 5th low. Now's the time to increase your stop loss and hold the trades or book some profit.
The TOTAL crypto market cap tested the major support area, and the price is now holding above it. The price needs to hold this support area; otherwise, things will turn worse.
Major Support Area: $2 Trillion
ADA analysis:
Price tested the major support area on the daily chart. ADA is now moving upward. Let's see how it reacts to the resistance area. It's better to wait for some time for new entries.
Support Area: $0.34-$0.345
Resistance Area: $0.43-$0.46
RLC analysis:
Price broke the major support area and now trading below it. This is no trade zone and better to wait for some time for new entries.
Support Area: $1.24-$1.31
Resistance Area: $1.95-$2.07
The TOTAL crypto market cap has rebounded from the support area, indicating that the market holds the major support area. A potential move towards the local resistance area may be observed. The support area remains unchanged.
Local Resistance Area: $2.17-$2.21 Trillion area
Binance Performs Wallet Maintenance - 2024-07-17
https://www.binance.com/en/support/announcement/90f80370fd054628b595f886f79f0672
USDT holds the top spot with over $112 billion market cap among stablecoins, while USDC takes second place with a market cap of $32 billion.
Читать полностью…SOL once again dropped to the support area but then rebounded. The market is providing ample time and retests for accumulation. We may witness a move towards the resistance area in the coming days.
Читать полностью…GRT analysis:
Price is currently trading within the support and resistance area. It's advisable to wait before opening new trades.
Support Area: $0.139-$0.145
Resistance Area: $0.22-$0.233
ETH is holding the support area and has tested it again. The price bounced from there, showing strong buying pressure at the support area.
Читать полностью…Bitcoin has once again dropped below the $57,000 level and is currently trading below it. We will monitor how the price reacts over the next 2-3 days.
Читать полностью…CAKE ANALYSIS :
CAKE dropping after forming a large Head & Shoulder Pattern and kinda faked out the major support zone of $1.76 - $1.93. It a 35% buy range to the upside and price again attempting to close below the zone. Eyes on closure, as breaking below will lead in $1.00. area.
Bitcoin prices are hovering very close to the average cost of production for Bitcoin miners.
This situation could influence mining profitability and potentially impact market dynamics.
Bitcoin has managed to break the $57,000 level on its second attempt, which is a positive sign that the market is moving up. It will be interesting to see how the price reacts when the US markets open today. The impact of the market dump is almost over, and the market has returned to levels seen before the panic selling.
Читать полностью…Market Insight:
Bitcoin ETFs are buying the dip on 5th July as the market tanks hard.
Follow the smart money and keep an eye on these strategic moves.
ETH closes the daily candle above the support area, indicating a positive sign. Additionally, ETH has reclaimed the $3000 level, and further upward movement may occur if BTC remains stable.
Читать полностью…Bitcoin experienced a bounce following a significant drop. However, the price failed to break above $57,000 in its initial attempt. We may witness another test of the resistance area to see if the price can surpass it. If the price breaks and holds above $57,000, it could potentially push towards the $60,000 resistance area.
Resistance Area: $56,500-$57,000