ROSE analysis:
ROSE broke the middle support area of the trading range and now trading below it. The major support is $0.0417-$0.0431 area and this is the zone for new entries. The resistance is $0.0487-$0.050 area and we may see a test of this zone and you can open a small short position near this zone with tight stop loss.
FIL analysis:
Price breaks the support area and also breaks the trend line. The next support is $3.65-$3.75 and we may see a test of this level before the next level up. You can place your buy orders in this zone and wait.
Bitcoin continues the downward movement. There is no sign of strength yet and we may see a move toward $28,000 in the coming days. BTC is bearish below the $29,500 level.
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The TOTAL crypto market cap is unable to reclaim the $1.15-$1.17 Trillion area. We might see some downward movement toward the $1 Trillion support area which means a drop of around 8-10% in the whole market. Keep tight stop loss in all trades.
Читать полностью…KEY analysis:
Price rejected from the $0.00556-$0.00577 resistance area. The next support is the $0.0050 area and we may see a test of this level before the next move. Wait for some time for new entries.
ETH analysis:
The support is $1810-$1830 area and the price bounced from the support many times. There is a small downtrend line that works as resistance which is around the $1860-$1875 area.
IDEX analysis:
IDEX is forming a descending triangle and price is heading toward a decision area. The support is $0.0469-$0.0485 area and a break below this support area will bring a heavy sell-off. The resistance is $0.052-$0.0522 area and we will only open a long position after a break above the resistance area.
XMR analysis:
Price rejected from the $164-$170 resistance area. The local support is $148-$150 area and major support is $131-$134 area. Wait for a test of the support area for long entries.
Bitcoin is able to reclaim above the resistance line. Price need to hold above $29,500 to gain some positive momentum. Let's see how the price reacts in the next 1-2 days. Tight stop loss in all trades is recommended.
Читать полностью…BAKE analysis:
BAKE bounced from the support of the $0.082-$0.087 area. The local resistance is $0.099-$0.101 area and we may see a move toward this local resistance area. The major resistance area is mentioned on the chart.
Coinbase reserves decreased by 513,000 BTC since Q4 of 2020. That’s almost 50% drop in last 3 years. Investors confidence is declining with FTX burst and other CEx hacks and exploits.
Читать полностью…DOGE dumps from the resistance area and price tested the local support area as expected. Price was able to hold the support level and bounced from there. We may see another retest of the resistance area.
Читать полностью…ARKM analysis:
Price is trading in the downtrend channel since it is launched on Binance. The support is $0.49-$0.494 area and needs to hold this level. A break below $0.49 will bring a heavy sell-off. The resistance is $0.525-$0.528 area and we only open a long position after the breakout.
The price tested the support of the $0.0425-$0.043 area as expected. If you have opened long positions near the support then increase your stop loss to breakeven point. We may see a move toward the $0.050-$0.0505 resistance area.
Читать полностью…US government significantly increases BTC sales in June-July. Although market observe the selling pressure and price continues the sideways.
Читать полностью…ETH is now trading at the support area. If price breaks below $1810 then we see a dump toward $1700-$1720 support area. That will brings dump in altcoins also so keep tight stop loss in all open positions.
Читать полностью…YGG analysis:
Price breaks the resistance of the $0.196-$0.208 area and the daily candle is now above this level. If the daily candle is unable to close above the $0.265-$0.275 resistance area then we see a move toward the $0.196-$0.208 area and this is the zone for new long entries. Better to wait for some sometime.
Educational Post
What is Merkle Tree?
A Merkle tree is a way of organizing and structuring large amounts of data to make it more straightforward to process. In the case of cryptocurrency and blockchain, the Merkle tree is used to structure transaction data in a way that is less demanding on resources.
When a cryptocurrency transaction is made in a Merkle tree structure, it is hashed and then given an equivalent hash value. After each transaction is hashed in the Merkle tree, the hash values that are produced are paired with another hash value and then hashed again. For example, the hash values ‘AB’ and ‘AC’ are combined to create ‘ABC’.
This process of pairing hash values is repeated until a final hash value is produced. The final hash value, the Merkle root, provides a summary of all the transactions it contains. The Merkle root summary is then inserted into the block header.
Bitcoin is going sideways after the breakdown. There is no sign of clear movement yet. BTC volatility is now reached at 3 years lowest point. The support is $28,000-$28,400 area and the resistance is $29,500 level.
Читать полностью…TRX analysis:
Price broke the uptrend line and now testing the support of the $0.0742-$0.0764 area. If the price breaks below this support level then we see a move toward the $0.0645-$0.066 area. You can open a small long position near the support with tight stop loss.
Bitcoin is unable to hold the $29,500 support level and now trading below it. This is not a good sign and we may see more downward movement in the coming days. Keep tight stop loss in all trades.
Читать полностью…Bitcoin monthly returns since 2013.
August and September are mostly red. Manage your open positions and use tight stop loss.
CHZ analysis:
Price is trading between the support and resistance area. The resistance is $0.0837-$0.0854 area. The support is $0.0736-$0.075 area and this is the possible zone for new long positions. A break below this support level will push the price toward the $0.070 support area.
Notice of Removal of Trading Pairs - 2023-08-04
https://www.binance.com/en/support/announcement/c2bc8eaae3264576921b4999cf00fe12
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Top DeFi Tokens Crash Following Curve Event, Will the Domino Spread Further?
https://coingape.com/top-defi-tokens-crash-following-curve-event-will-domino-spread-further/?utm_source=Crypto+VIP&utm_medium=telegram
BTC was dumped after the rejection from the resistance line. The support is $28,000-$28,400 level and we may see a possible test of this area before the next move. The market is dumping because of the Curve Finance exploit and we may see more downfall.
Читать полностью…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.
DUSK bounced from the support level and if you opened long positions then increase the stop loss to the breakeven point. A break below the $0.12 level will bring the down toward the $0.095-$0.10 support area.
Читать полностью…