DYDX analysis:
The price is forming a falling wedge pattern, and we may see a break of this pattern soon. There is a major resistance level just above the falling wedge pattern. It's better to wait for a break above the resistance area for new entries.
Major Resistance: $2.23-$2.32
BlackRock's spot Bitcoin ETF (IBIT) has surpassed Grayscale (GBTC) in just 20 weeks. All the Grayscale selling pressure is being absorbed by BlackRock, highlighting massive buying interest and limited supply. This is a significant milestone in the crypto market.
Читать полностью…MEME has broken the triangle pattern in an upward direction, and the price is now testing the resistance area. Meme coins are showing strong upward movement, and we expect a breakthrough of this resistance area. You can consider opening a long position after a break and a candle close above the resistance area.
Resistance Area: $0.0316-$0.033
Notice of Removal of Spot Trading Pairs - 2024-05-31
https://www.binance.com/en/support/announcement/02cf89d1fada444b99ab06c0cce99338
FRONT analysis:
The price encountered resistance at the downtrend line, but we may witness a significant move from the support area. FRONT is migrating to the Self Chain, and there could be a rally due to this migration news. Consider adding some FRONT at the support area.
Support Area: $1.00-$1.07
Resistance Area: $1.27-$1.32
Bitcoin broke the triangle pattern in an upward direction but was unable to sustain the upward movement. The price is currently holding above the $67,000 support area, which is a positive sign. If the price breaks below this support area, we may see a move toward the $65,000 support area.
Читать полностью…The Short-Term Holder (STH) supply is currently at 3.36 million BTC. During the recent market correction, over 2.14 million BTC (63.2%) were in an unrealized loss. However, as the market rallies back above $70k, this has decreased to just 230k BTC (6.8% of the total).
Despite many coins being close to the current spot price, very few are now in an unrealized loss. This significantly reduces the risk of a market downturn due to heavy selling pressure. The market appears more stable with fewer coins at a loss.
ADA analysis:
The price is currently trading within a narrow range and is showing respect for the support and resistance levels. You can consider trading within this range and consider buying some ADA if it falls to the support level. We may experience some sideways movement before the next significant price move.
Support Area: $0.42-$0.433
Resistance Area: $0.51-$0.52
Bitcoin is consolidating near the resistance area with a triangle pattern forming on lower time frames, suggesting more sideways movement. The support and resistance levels remain unchanged.
Читать полностью…MEME analysis:
Price is currently trading in a triangle pattern, and we may soon see a breakout. This is a no-trade zone, and it's better to wait for a better setup.
Support Area: $0.023-$0.0238
Triangle Resistance Area: $0.0288-$0.030
Educational Post
What Are Validiums?
Validiums are scaling solutions for Ethereum that use off-chain data availability and computation to process transactions more efficiently. Unlike zero-knowledge rollups (zk-rollups), which store some data on-chain, validiums keep transactions off-chain while using zero-knowledge proofs (ZKP) to verify their validity.
How Do Validiums Work?
Validiums operate by executing transactions off the Ethereum mainnet, leveraging smart contracts on Ethereum to ensure their validity and integrity. Let’s walk through some of the key aspects of validiums.
Transactions
When a user wants to make a transaction using a validium, they send it to an operator. Operators are nodes responsible for executing transactions on the validium chain. They could be a single entity or a group of entities chosen through a proof-of-stake (PoS) system.
The operator collects transactions into a batch and processes them off-chain. Once the batch is ready, the operator uses a special system called a proving circuit to create a proof that the transactions were performed correctly.
State commitments
Imagine Validium’s state (the record of all accounts and their balances) as a big tree, known as a Merkle tree. The root of this tree, called the state root, is like a fingerprint that represents the entire state. This state root is stored on Ethereum.
When the operator processes transactions, they update the state root to reflect the new balances and account states. Then, they send this new state root along with the proof that everything was done correctly to the Ethereum mainnet.
Unlike zk-rollups, block producers on a validium don’t need to publish all the transaction details on Ethereum. If Ethereum verifies the proof, the new state is accepted, and the validium is updated.
Deposits and withdrawals
Users can deposit their funds from Ethereum to a validium by sending ETH or other tokens to a special contract on Ethereum. The contract communicates this deposit to the validium off-chain and credits the user’s off-chain account.
When withdrawing funds back to Ethereum, users submit a withdrawal request to the operator. The operator includes the request in a batch, and once the batch is verified on Ethereum, users can withdraw their funds.
WLD broke the trendline in a downward direction and also retested it. We may see a continuation of the downtrend now. We may see some accumulation at the next support area.
Next Support Area: $4.00-$4.20
STRK analysis:
The price is currently trading within a falling wedge pattern and is currently testing the resistance line. If there is a break above this resistance, it would be considered bullish, and we would anticipate a move towards the next resistance area. It's important to monitor this situation closely, and we plan to open long positions after a retest following the breakout.
Level to Watch: $1.28-$1.30
ETH has cooled off after the big breakout candle. The price is currently holding the support area, and the wick below the support indicates stop hunting and a liquidity grab. We might see some accumulation at the support area before the next upward movement.
Читать полностью…$TWIF is set to launch on #DigiFinex at 10:00 UTC, June 3rd! Listing price will be $0.04, as per DigiFinex's official tweet🔥: https://x.com/digifinex/status/1795777359280525677?s=46
This means we are getting $TWIF at very cheap price currently. Grab it and be a early bird of this massive journey🚀
Tier1 exchange listing is also in pipeline as per their official tweet, which means this will surely skyrocket in the next few days.
PancakeSwap buy link: https://pancakeswap.finance/swap?outputCurrency=0x62760e76DCe6b500349EC5F6119228d047913350
Uniswap buy link: https://app.uniswap.org/#/swap?outputCurrency=0x62760e76DCe6b500349EC5F6119228d047913350
MEXC buy link : https://www.mexc.com/exchange/TWIF_USDT
ETH has rebounded from the support area as expected, signalling a positive trend for the altcoin market. ETH often leads the way for altseason. We may expect further upward movement, with the major resistance level at $4000. A break above $4000 will be bullish.
Читать полностью…Bitcoin has rebounded from the support area and is now approaching the $69,000-$70,000 resistance. Let's see how the price reacts to this area. Nothing has changed in the market yet.
Читать полностью…KEY made a high of $0.008717 today. That is more than 30% profit in spot pair and more than 300% profit with 10x leverage on futures. You can book some profit on future position or hold the rest with trailing Stop loss.
Читать полностью…MATIC analysis:
Price is currently trading in an ascending triangle and is now near the resistance area. A good upward movement is expected if the price breaks above the resistance area. Only open long positions after a breakout.
Resistance Area: $0.75-$0.77
FARM analysis:
The price has broken out of the large triangle pattern and is now forming a small falling wedge on lower time frames. We might see a breakout of this pattern and a continuation of the upward movement. You can consider opening a small long position here with a tight stop loss.
Resistance Area: $79.50-$80.00
Educational Post
What Are Liquid Staking Tokens (LSTs)?
Liquid Staking Tokens (LSTs) are a type of cryptocurrency token that represents staked assets on a blockchain network, especially in Proof-of-Stake (PoS) systems. In PoS systems, users lock up their tokens as collateral to support network operations and earn rewards. However, traditional staking often involves a lock-up period, during which the staked tokens cannot be easily accessed or traded. LSTs aim to solve this problem by providing users with tokenized representations of their staked assets, offering liquidity and flexibility while still participating in staking.
How Do LSTs Work?
When users stake their assets in a PoS network, they receive an equivalent amount of Liquid Staking Tokens (LSTs) in return. These LSTs represent the staked assets and allow users to trade, transfer, or utilize them in various decentralized finance (DeFi) applications. While the original assets remain staked, LST holders can still benefit from liquidity and flexibility, enabling them to engage in other investment opportunities or access their funds when needed.
The Benefits of LSTs: Enhancing Liquidity and Flexibility
LSTs offer several advantages to cryptocurrency holders:
Increased Liquidity: By tokenizing staked assets, LSTs provide liquidity to otherwise illiquid tokens, allowing users to trade or utilize them in DeFi protocols.
Flexibility: LST holders can easily buy, sell, or transfer their tokens without waiting for lengthy unbonding periods typical of traditional staking mechanisms.
Capital Efficiency: Users can maximize the utility of their staked assets by simultaneously earning staking rewards and engaging in other investment activities.
Diversification: LSTs enable users to diversify their investment strategies by staking on one platform while utilizing LSTs in other DeFi protocols.
In summary, Liquid Staking Tokens (LSTs) enhance the traditional staking experience by providing liquidity, flexibility, and greater capital efficiency, thus offering users more opportunities to engage with their staked assets.
STRK is currently breaking out of the falling wedge pattern. The price is now retesting the trendline, and if it can hold above this level, we may see a good upward rally. Consider opening small long positions here with a tight stop loss.
Major Resistance Area: $1.675-$1.805
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Date: 2-June-2024 Sunday
Time: 4 PM GMT
Pairing: USDT
Exchange: MEXC
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The approval of the ETH ETF marks a significant bullish signal for altcoins. Furthermore, the rejection of BTC dominance from the major resistance zone provides strong bullish momentum for altcoins. Our previous MEXC Mega pump signal #JET (+10600%) was a tremendous success, and this upcoming move has the potential to make history after a considerable time.
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As the price approaches the end of the distribution phase, we see that about 15.9% of the coin supply is just below the current price, creating a strong support level.
On the flip side, only 1.1% of the coins are above the current price. This means if demand keeps increasing, we could see the price rise quickly as we enter a new phase of price discovery.
PORTAL continues to gain momentum and has broken out of the falling wedge pattern. The long position is now more than 20% profitable, so you may consider raising your stop loss and holding onto the position. We may see a continued upward movement since the price has broken out of the pattern.
Resistance Area: $0.885-$0.90
Bitcoin is now trying to reclaim above the $70,000 area. Let's see if the price can break this level or not. We may see a move on Monday when the US markets open.
Читать полностью…MicroStrategy CEO Michael Saylor announced that MicroStrategy now holds nearly 1.1 million BTC, rivaling the amount held by Bitcoin founder Satoshi Nakamoto.
Читать полностью…Countdown Alert! Less than 20 minutes until $TWIF Launches on MEXC!🔥🚀
MEXC buy link: https://www.mexc.com/exchange/TWIF_USDT
UNFI was unable to break above and rejected from the resistance area. This is the reason we told you not to take any trade. We may see again a test of the resistance area. The support and resistance area remains the same.
Читать полностью…