EOS analysis:
EOS is in a downtrend and we are expecting a test of the $0.948-$0.963 area. This is the zone for new buying. The resistance is $1.176-$1.214 area and we may see a bounce toward this level after testing the support level.
The Q1 returns of all major assets. Bitcoin is on the top with 71.9% return while gold and US stocks average around 10-12% quarterly returns.
Читать полностью…LTC bounced from the trendline support. The resistance is the $96 level and we may see a test of this resistance in the coming days. If you have long position then increase your stop loss and hold the position.
Читать полностью…ETC analysis:
ETC bounced from the support of the $18.90-$19.30 area. You can open a small long position near this support level. The next resistance is the $22.50-$22.80 area. If the price break below $18.90 then we see a dump toward the $16.50 level.
MATIC again bounced from the liquidity area and we hope that your buy orders gets filled. Increase your stop loss to break even price. We may see a bounce from here.
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Educational Post
What is BTC dominance?
BTC dominance calculates Bitcoin's current share of the global crypto market cap. Short for “market capitalization,” market cap refers to the value that's currently stored in an asset. Typically, people measure market cap in terms of fiat currencies like USD.
In cryptocurrency, people calculate a market cap by multiplying the number of available tokens by the token's current price.
For example, Bitcoin's price is $29,780, with 19.1 million coins in circulation. Here, you’ll multiply $29,780 by 19.1 million to get a market cap of $565 billion.
How is BTC market dominance calculated?
To determine BTC dominance, you need to know Bitcoin’s current market cap and the overall crypto market cap. Most reputable coin price aggregator sites like CoinGecko and CoinMarketCap show this data on their homepage. Once you have these numbers, divide the Bitcoin market cap by the global crypto market cap. This formula will reveal the percentage of cash in the crypto market that's stored in Bitcoin.
For example, Bitcoin’s market cap at the time of writing is $565 billion, and the global crypto market cap is $1.3 Trillion. After dividing $565 billion by $1.3 Trillion , you get 47%. This means that 47% of the global crypto market cap is now in Bitcoin.
Finally price gave a breakout above the $27,600 level. This will bring some positivity in market. We may see a move toward the $30,000-$31,000 major resistance area if price able to break above $28,500 level. If price reject from $28,500 then we see a dump toward $27,600 level.
Читать полностью…As expected price moved toward the resistance area. ROSE rejected from the major resistance level and price is unable to hold the support area. Price give a retest and continue the downtrend. Don’t open any long position now and wait sometime for better setup.
Читать полностью…Price rejcted from the resistance area and unable to hold the $5.70-$5.75 support level. Price is moving toward $4.70-$5.00 major support area. You can place your buy order in the support zone.
Читать полностью…Educations Post
Moving Average (MA)
The MA – or ‘simple moving average’ (SMA) – is an indicator used to identify the direction of a current price trend, without the interference of shorter-term price spikes. The MA indicator combines price points of a financial instrument over a specified time frame and divides it by the number of data points to present a single trend line.
The data used depends on the length of the MA. For example, a 200-day MA requires 200 days of data. By using the MA indicator, you can study levels of support and resistance and see previous price action (the history of the market). This means you can also determine possible future patterns.
#ZPAY CEO giving us insight about what’s programmed for this Week
Expecting a lot of exciting stuff and massive announcement tomorrow 👀
#ZPAY is a must buy for this week🚀
Buying #ZPAY on Kucoin
Lying above strong demand zone
MACD crossover is showing bullish momentum
It will pump hard from here 🚀
Targets are mentioned in the chart
KLAY broke the support level with a big red candle. Hoping you used tight stop loss in the long position. Price is now trading below the downtrend line. We may see a continuation of the downward movement.
Читать полностью…CHZ analysis:
CHZ broke the support level and now trading below it. The next support is the $0.11-0.1125 area and we may see a test of this level before the next move. A break above $0.125 resistance will bring upward movement toward the $0.14 resistance area. This is no trade zone for CHZ.
Educational Post
The biggest individual Bitcoin owners
Satoshi Nakamoto: Although Nakamoto’s identity is mysterious, it's clear that they mined roughly one million bitcoins between 2009 and 2010. These are stored in 22,000 wallet addresses.
Microstrategy: Michael Saylor's software company Microstrategy has become one of the largest publicly traded companies to put BTC on its balance sheet. Currently, Microstrategy holds 129,699 BTC or about 0.6% of the total Bitcoin supply.
Winklevoss Twins: Tyler and Cameron Winklevoss have long supported cryptocurrencies, and they're some of the most prominent Bitcoin billionaires. The Winklevoss twins have 70,000 BTC in their wallets.
Breaking: Hong Kong Regulator To Release Crypto Exchange Rules; Will US SEC Follow?
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Bitcoin break above the resistance level and price is holding above it. Price is testing the area and if able to hold above this then we see again a move toward $30,500-$31,000 resistance.
Читать полностью…Educational Post
What’s DAI?
DAI is a cryptocurrency categorized as a stablecoin. It aims to keep its value consistent with the U.S. dollar at a 1:1 ratio. It has its own decentralized governing organization, MakerDAO, to regulate its value. It was one of the first to successfully transition from a company to a decentralised autonomous organisation (DAO).
Users can generate DAI through the Maker Protocol, a system that leverages locked up collateral to generate the token. Users can use other cryptocurrencies as collateral or buy DAI using traditional fiat currencies on cryptocurrency exchanges like Coinbase.
What makes DAI different?
A framework of self-executing smart contracts autonomously controls the price of DAI. If DAI's price deviates from USD, MakerDAO's algorithms will create or burn tokens to stabilize DAI's price.
As a result, DAI's stability is not dependent on a single party. An effective algorithm benefits token holders since burnt tokens increase the value of existing ones. This system has seen DAI maintain a relatively stable value for over six years.
How does DAI work?
DAI's value remains relatively stable due to stored collateral that backs up its value. For every $1 of DAI, there is more than $1 of other cryptos that back it. As a result, DAI holds value. Other cryptocurrencies act as collateral for DAI to maintain this value against the US dollar. DAI uses Ethereum (ETH) and other Ethereum-based cryptos as collateral and smart contracts on the Ethereum blockchain.
Bitcoin gave a fakeout above the $30,000 and dumped hard from there. Price also give a wick below the support level of $27,600 to hunt stop loss. Price is again trying to go above the resistance area.
Читать полностью…FIL analysis:
FIL bounced from the daily support level of the $5.00-$5.25 area. The next resistance is the $6.32-$6.53 area on the daily chart and we may see a move toward this resistance level. You can try a small long position if the price comes near the support level.
MATIC analysis:
MATIC took the liquidity and bounced from there. You can open a long position if the price comes to the $0.93-$0.95 area. The resistance is the $1.15 area where the downtrend line works as resistance.
TRX analysis:
TRX is trading in a tight range and we may see a big move on either side. The support of the trading range is the $0.062-$0.063 area and the resistance is the $0.067-$0.0678 area. If the price breaks below the $0.062 support level then we see a dump toward the $0.0557-$0.057 area. This is no trade zone.
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Price rejected from the resistance level and now trading below it. There is not much movement in market yet. Price is holding the $27,000 level and a break below this will bring heavy sell-off.
Читать полностью…GALA analysis:
GALA is now at the uptrend line support and this is also a good support area. If the price breaks below the $0.0383 level then we see a heavy dump. The local resistance is $0.042 level and the major resistance is $0.048 level.
The open interest of Bitcoin and Ethereum is in downtrend since January 2023. Despite of the rally in Bitcoin and ETH the future traders are not interested.
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Price is again trying to break the resistance level. If price rejected from here then we see dump in market. Wait for sometime for more confirmation.
Читать полностью…