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
Accumulation rates can also be assessed using wallet size heuristics, where this chart considers all entities holding less than 100 BTC. These Shrimp (< 1BTC), Crabs (1 to 10BTC) and Fish (10 to 100BTC) capture a wide cross section of investors, from retail through to high net worth individuals.
In aggregate, their accumulation rates have exceeded new issuance since Feb 2022, being the longest and most sustained period in history.
Bitcoin is currently testing the resistance area repeatedly. There may be some movement on Monday when the global market opens. The support and resistance levels remain the same.
Читать полностью…The percentage of Bitcoin's (BTC) circulating supply that was last active on-chain at least a year ago has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July, according to data tracked by blockchain analytics firm Glassnode.
Читать полностью…After experiencing an upward movement, XRP retraced back to the support area. The price was tested and then bounced back up from the support zone. If you missed your chance last time, you can consider opening a long position at the support area. It's recommended to set a tight stop loss below the $0.55 level.
Support Area: $0.57-$0.60
Resistance Area: $0.68-$0.713
Next Resistance Area: $0.77-$0.78
It appears that BCH is currently testing the support trendline of a triangle formation. In the event that the trendline is broken and there is a candle close below it, the price is expected to move towards the support area. Before a breakout, there may be a bounce from the current level towards the upper resistance trendline of the triangle.
Support Area: $165-$180
Local Resistance Area:$250-$260
Major Resistance Area: $300-$320
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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…WLD has broken through the resistance area and is now in price discovery mode. The previously resistance area has now become support and we may see a retest of this area. The next resistance levels are around the $3.00 and $3.50 areas.
Читать полностью…ROSE analysis:
Price gives many fakeouts below the support to hunt stop loss. ROSE is now heading towards the major resistance area. Let's see how the price reacts on the major resistance areas.
Support Area: $0.065-$0.0675
Resistance Area: $0.079-$0.081
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.
The market has absorbed the news well, resulting in Bitcoin testing the resistance area once again. Heavy selling is taking place in this area, and BTC is still trading within its range. It is advisable to maintain a tight stop loss in all trades, as there is a possibility of another negative news that could crash the market in the coming days. The support and resistance levels remain unchanged.
Читать полностью…CZ officially announced he resigned as CEO of Binance.
Read more here: https://twitter.com/cz_binance/status/1727063503125766367