Bitcoin has broken resistance after multiple attempts and is currently trading above $35,000. However, there is low volume and momentum in BTC. We may see a reversal in the market at any time, so keep a tight stop loss in all trades.
Читать полностью…SAND analysis:
Price broke out of the falling wedge pattern, and also surpassed the resistance area of $0.334-$0.339. This area may be tested and considered for new long positions. The next resistance area is $0.375-$0.38.
Notice of Removal of Spot Trading Pairs - 2023-11-03
https://www.binance.com/en/support/announcement/87197e1c25dc42b8b37360a1c05515d1
Educational Post
What is Mainnet Swap?
Essentially, a mainnet swap consists of switching from one blockchain network to another. In most cases, the swap takes place when a cryptocurrency project migrates from a third party platform (e.g., Ethereum) to their own native blockchain network. At this point, their cryptocurrency tokens are gradually replaced by newly issued coins and all blockchain activity is moved to the new chain.
Let’s take BNB as an example. After the main net launch of Binance Chain, users were encouraged to migrate from the Ethereum blockchain to the Binance Chain.
Therefore, ERC-20 BNB token holders started to replace their tokens with the newly issued BEP2 BNB coin (the native coin of Binance Chain). The mainnet swap followed a 1:1 ratio so that 1 ERC-20 BNB had the same value as 1 BEP2 BNB. After the swap, all remaining ERC-20 BNB tokens were burned, so now only the BNB of the new chain can be used.
Therefore, a mainnet swap takes place when a blockchain project replaces previously issued tokens with their new cryptocurrency, which is typically running on their own blockchain network. This process may also be referred to as “token migration”. Usually, the mainnet swap begins right after the mainnet launch.
ADA analysis:
After hitting a major support area, the price has moved towards the resistance area. The resistance is located at the $0.30 level, and if the price manages to break above it, it is expected to reach the $0.34 resistance area. It is recommended to wait for a break above the resistance level before opening new entries.
LOKA Analysis :
LOKA is been kinda stuck in a range over the major support zone of $0.170 - $0.172 and Resistance Area around $$0.213 - $0.220. Currently, price looks kinda exhausted but holding the Trendline too. We have to wait for the price to give a breakout either side of the level.
Bitcoin continues the upward movement as expected. This is good sign and we may see a move toward $32,000-$32,500 major resistance. Altcoins will see some positive movement.
Читать полностью…Bitcoin is holding the $30,000 level and trading near it. This is good sign for the market and many altcoins already start pumping. If BTC stables near $30,000 then we see continuation of the upward movement in altcoins.
Читать полностью…There is a lot of accumulation in the range of $25,000-$31,000 area. This shows investors are accumulating for the next bull rally. This is the major resistance and there is not much unspent supply on higher prices.
Читать полностью…Bitcoin broke the $28,500 resistance after many attempts and is now approaching the $30,000 resistance level. The overall market is showing positive movement. A break and hold above $30,000 will bring some good pump in altcoins.
Читать полностью…#JASMY is trending on Twitter. You can listen to the AMA session to learn more about the project and team. Most of your questions are covered in the AMA. Our team will do more AMAs in coming months to educate our community.
AMA video link: https://youtu.be/HHwYRPAZauI?si=TaKaDyLeMNa5mboJ
On Oct. 16, there was a significant outflow of Bitcoin from exchanges, totalling 7,000 Bitcoin, which is worth approximately $200 million. Although some of this movement may be due to the recent spread of misinformation about the approval of a Bitcoin spot ETF, the transfer of funds on the blockchain has been ongoing both before and after the occurrence.
Читать полностью…Educational Post
What is a block halving?
A block halving is a process of reducing the rate at which new cryptocurrency units are generated. Specifically, it refers to the periodical halving events that decrease the block rewards provided to miners.
Why are halvings significant?
Halvings are at the core of the cryptocurrency economic models because they ensure coins will be issued at a steady pace, following a predictable decaying rate. Such a controlled rate of monetary inflation is one of the main differences between cryptocurrencies and traditional fiat currencies, which essentially have an infinite supply.
How many Bitcoin halvings have there been previously?
As of July 2019, there have only been two previous Bitcoin halving events. These occurred on the 28th of November, 2012 and the 9th of July, 2016. At the time of the first halving event, the price of Bitcoin was $12.31 and at the time of the second halving event, the price of Bitcoin was $650.63.
There will only ever be 32 bitcoin halving events. Once all of these have occurred, there will be no more halvings and there will also be no more Bitcoin created as the maximum supply will have been reached.
Bitcoin broke the falling wedge pattern and moved upward as expected. The price is heading towards the major resistance area, and we may see a test of it. Let's see how BTC reacts there.
Читать полностью…DAR broke the trendline in a downward direction. This is a bearish sign, which is why we told you to use tight stop loss. We may see a test of the trendline and the continuation of the downtrend.
Читать полностью…Dear members,
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SKL analysis:
The price has successfully surpassed the resistance level of $0.024 and is now moving towards a major resistance area which is expected to be between $0.02840-$0.02970. In the upcoming days, we may witness a test of this major resistance area. If you have any long position open, you can consider booking profits at this point.
ETH analysis:
Price was rejected from the $1840-$1865 resistance area. The support zone for new entries is now in the $1730-$1755 area. A break above the $1865 level will push the price towards the $2000 area.
The Bitcoin market is currently experiencing a sideways trend and we predict that it will move towards the support level due to the decrease in trading volume after a sudden increase. We have observed several price rejections indicated by the presence of wicks. Additionally, the upward rally will be confirmed by the weekly and monthly candle closings.
Читать полностью…The current market structure resembles the recovery phase after a bear market, akin to patterns observed in 2016 and 2019.
The cost basis of long term holders is around 25% lower than of the short term holders.
Educational Post:
An Introduction to Binance Bridge
Currently, there is a bit of an issue in the crypto space. Different blockchains can’t really talk to each other. If you make a Bitcoin transaction, the Ethereum blockchain won’t be able to know that it happened. If we zoom out a little bit and look into the future, this problem will likely be solved somehow with new technology. However, a much faster solution that is already available now is wrapped coins and tokens.
Wrapped tokens let you use coins and tokens native to other blockchains as tokens on a different chain, such as Binance Smart Chain. We’ve already seen how this can work with tokenised BTC on Ethereum. The Binance Bridge Project introduces this concept to Binance Chain and Binance Smart Chain.
What is the Binance Bridge Project?
The Binance Bridge Project is a cross-chain bridging service that aims to increase interoperability between different blockchains. It essentially lets anyone convert selected coins into wrapped tokens (or “pegged tokens”) to be used on Binance Chain and Binance Smart Chain. This brings digital assets such as BTC, ETH, LTC, XRP, LINK, ATOM, DOT, XTZ, ONT, and more to the Binance Chain ecosystem.
By using the Binance bridge protocol, you can access cross-chain liquidity on Binance Chain and Binance Smart Chain with just a few clicks.
How does the Binance Bridge Project work?
Wrapping a coin or token into a Binance Chain version is actually quite straightforward. Using the Binance Bridge service, you can convert cryptoassets between the native blockchain and Binance Chain/Binance Smart Chain. For example, if you transfer USDT from Ethereum to Binance Smart Chain, Binance Bridge will support the cross-chain conversion of Ethereum ERC-20 to Binance BEP-2 or BEP-20. It’s worth noting that these wrapped coins are backed by real coins and tokens on public addresses.
Currently, the Binance Bridge Project supports ERC-20 and TRC-20 cross-chain transfers. As you may already know, ERC-20 is a widely popular token standard on Ethereum. TRC-20 is a similar standard for the TRON network. and TRC-20 cross-chain transfers. As you may already know, ERC-20 is a widely popular token standard on Ethereum. TRC-20 is a similar standard for the TRON network.
Glassnode chart shows LTHs increasing their BTC exposure dramatically from mid-2021 onward, “hodling” through the entirety of the subsequent bear market. LTHs network reached the all-time high of 76.2%.
Читать полностью…CHZ analysis:
Price bounced from the $0.0535-$0.0543 support area. CHZ is now heading toward the $0.0643-$0.0652 resistance area. This is no trade zone and wait for a clear breakout above the resistance area for new entries.
AMB tested the support area and bounced from there. If you have opened long positions then increase your stop loss and hold the position. We may see a move toward the local resistance area.
Читать полностью…MULTI analysis:
Price rejected from the $3.30 resistance area and now testing the support area. The support is $1.70-$1.90 and the price needs to hold this level. A break below $1.70 will send the price towards the $1.00 major support level.
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ETC Analysis :
ETC is been moved the Bitcoin Up move with ended up being a long liquidation wick. Well, Volume is not enough to push higher, so we can see a drop till strong support zone of $14.47 - $14.83. Right now, wait for the setup to appear and have an eye on breakout.
As anticipated, RUNE has dropped to the support level. If you have placed buy orders, now is the time to hope they are filled. It is recommended to increase your stop loss and hold onto this position. Currently, the position is running at more than 18% profit from the bottom. There is a possibility of the price moving towards the resistance area.
Читать полностью…ARB analysis:
Price is currently in a downtrend and has broken a small uptrend line. A potential small long position can be taken at the next major support level of $0.73-$0.75 with a tight stop loss. The resistance is at the $0.86-$0.88 area.
Bitcoin is breaking out of the falling wedge pattern. Wait for the candle to close above the trendline for confirmation. This breakout is bullish for BTC and we may see some upward movement next week.
Читать полностью…