CHZ has rebounded after testing the support area. If you have opened a long position, you can now increase your stop-loss to the breakeven point. We may see a movement towards the resistance area now.
Resistance Area: $0.0837-$0.0853
SUPER analysis:
The current price is trading within a large falling wedge pattern on the daily chart. The price is currently attempting to break through the local resistance area. We will wait to see if it can successfully surpass this level. You may consider opening a long position if the daily candle closes above the $0.75 level.
Next Resistance Area: $0.86-$0.89
MVRV = Unrealized Profit/Loss
🟢 Very Low Risk: 0 - 1.0
🟡 Low Risk: 1.0 - 1.5
🟠 High Risk: 1.5 - 3.5
🔴 Very High Risk: 3.5+
Current LTH MVRV: 3.3733
LTHs in 237.33% unrealized profit.
An upside breakout for BTC is loading.
Bitcoin experienced a sudden surge after triggering stop losses below the support area. Bitstamp has started distributing BTC to users, indicating that the fear, uncertainty, and doubt (FUD) may have subsided. Selling pressure is decreasing, and it looks like Bitcoin is gearing up for a significant price increase.
Читать полностью…Educational Post
What is Forced Liquidation?
Forced liquidation refers to an involuntary conversion of assets into cash or cash equivalents (such as stablecoins). It is a mechanism that creates market orders to exit leveraged positions. The term liquidation simply means selling assets for cash. Forced liquidation means that this selling happens automatically, when certain conditions are met.
In the context of cryptocurrencies, forced liquidation happens when the investor or trader is unable to fulfill the margin requirements for a leveraged position. The concept of liquidation applies to both futures and margin trading.
When you’re trading with leverage, the liquidation price is something you’ll need to keep a close eye on. The higher the leverage you use, the closer the liquidation price is to your entry. How so? Let’s look at an example.
You start with $50. You enter a leveraged long position in the BTC/USDT market with 10x leverage, meaning your position size will be $500. So, this $500 consists of your $50 plus $450 that you borrow. What happens if the price of Bitcoin goes down 10%? The position is now worth $450. If the position incurred further losses, those would apply to the borrowed funds. The lender of those funds won’t risk a loss on your behalf, so they liquidate your position to protect their capital. This means that the position is closed, and you’ve lost your initial capital of $50.
Forced liquidation typically incurs an additional liquidation fee. This varies with each platform but exists to incentivize traders to manually close their positions before they’d have to be automatically liquidated. So make sure you understand all the risks before entering a leveraged position.
SUI was rejected from the resistance area and dumped from there. This is why we told you not to take any trades in the zone. Price is now trying to hold the support area and let's see how it reacts there. A daily candle close below $0.75 is bearish.
Читать полностью…UMA analysis:
Price is unable to break the resistance area and the downtrend line also works as resistance. We are waiting for a break above the resistance area for new entries.
Support Area: $1.65-$1.75
Resistance Area: $2.40-$2.55
OMNI tried to break the downtrend resistance line but was rejected from there. We are still waiting for a break above the resistance area for new long positions. A break above $15.00 is a green signal.
Resistance Area: $14.50-$15.00
Bitcoin is approaching the support area for a retest, as anticipated. A bounce from the support area is likely. The price is dropping because Mt. Gox repayments are being credited to users, and they are selling to take profits.
Читать полностью…Breaking News!
ETH spot ETFs are now live, with Grayscale, Bitwise, and BlackRock leading the charge. This positive start has already generated over $110 million in volume. While ETH's price hasn't moved significantly on the news, we could see a steady rally similar to BTC in the coming weeks.
According to Glassnode data, the average income of miners is now well below the yearly average. This may indicate that miner capitulation is either in full swing or has already peaked. Historically, this trend has been bullish for Bitcoin.
Читать полностью…Bitcoin is currently in a sideways trend and we may see a retest of the support area before the next move. The overall market is bullish and there have been no significant changes. The support and resistance levels remain the same.
Читать полностью…BAT analysis:
Price is currently testing the resistance area and encountering some selling pressure. It's advisable to wait for a clear breakout above the resistance before considering new entries.
Support Area: $0.16-$0.164
Resistance Area: $0.199-$0.205
MASK is currently retesting the support area after the breakout. Consider opening a small long position here with a tight stop loss. A potential bounce from the support area could be observed.
Support Area: $2.40-$2.50
Resistance Area: $3.10-$3.28
Trump vs. Joe Biden is over
Joe Biden has announced that he will not be running against Donald Trump in the upcoming election. The party will declare a new candidate for the Presidential Election, and Bitcoin is reacting to this news.
Bitcoin is currently on an upward trend, approaching the $69,000-$70,000 resistance zone. We'll see if the price can break this barrier and potentially reach an all-time high after surpassing $70,000.
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UMA has broken the downtrend line and the resistance area. The price is now retesting the level, providing a zone for new entries. Consider opening a small long position with a tight stop loss.
Support Area: $2.40-$2.55
Resistance Area: $2.95-$3.05
CHZ analysis:
Price is now trading at the support area and entering the accumulation zone. You can consider buying some CHZ around the support area with tight stop loss.
Support Area: $0.064-$0.066
Resistance Area: $0.0837-$0.0853
Over the past month, 358K BTC has moved to permanent holder addresses. In July alone, global spot ETF inflows added 53K BTC. While not all remaining BTC is in custody wallets, whales are clearly accumulating at an unprecedented level.
Читать полностью…Bitcoin broke the support area in a downward direction because of the Mt. Gox distribution news. Bitstamp will distribute Mt. Gox BTC today and this will bring some selling in the market. Overall the market is good and we may see sideways movement for this week.
Читать полностью…According to Glassnode data, the average cost of BTC mining is $69,510, while Bitcoin is currently trading around $67,000. This indicates that miners are getting closer to profitability.
Читать полностью…AVAX broke the downtrend channel upward and continued the upward movement. If you missed earlier, you can open a long position with tight stop loss now.
Support Area: $28-$29
Resistance Area: $34-$35
SUI analysis:
The price is currently in a downtrend channel and has been rejected by the resistance area. Another test of the resistance area is possible. It's best to avoid trading in this zone and wait for new entry opportunities.
Support Area: $0.75-$0.774
Resistance Area: $0.88-$0.925
Educational Post
What Is the Ethereum Foundation
The Ethereum Foundation is a non-profit organization dedicated to the development, improvement, and promotion of Ethereum and related technologies. Established in 2014 with the vision of fostering a decentralized and open-source ecosystem, the Ethereum Foundation plays an important role in supporting the growth of Ethereum and empowering the broader blockchain community.
Mission and Goals
The primary mission of the Ethereum Foundation is to support Ethereum's evolution and the technologies surrounding it. The foundation strives to support a thriving ecosystem of decentralized applications, enabling a new era of trustless and transparent systems. Additionally, it seeks to educate the public and foster collaboration within the blockchain space.
Unlike a conventional non-profit or a controlling entity, the Ethereum Foundation operates as one component within a larger ecosystem. Its purpose is not to dictate the trajectory of Ethereum but to facilitate its organic growth and development.
Ethereum Foundation Initiatives
As of February 2024, the Ethereum Foundation website presents three main initiatives: Ecosystem Support Program, Devcon, and Fellowship Program.
1. Ecosystem Support Program
The Ecosystem Support Program is a flagship initiative designed to provide both financial and non-financial support to projects and entities within the broader Ethereum community. This program, an expansion of the original Ethereum Grants Program, aims to accelerate the growth of the ecosystem. It acts as a catalyst for innovative projects by offering resources and assistance beyond mere financial aid.
2. Devcon
Since 2014, the Ethereum Foundation has been organizing Devcon, an annual conference that serves as a gathering ground for Ethereum developers, researchers, thinkers, and makers. Devcon acts as a melting pot of ideas, fostering collaboration and knowledge sharing within the Ethereum community. The conference's rich repository of video content encapsulates the collective wisdom shared by the community over the years.
3. Fellowship Program
The Ethereum Foundation Fellowship Program is an innovative initiative addressing representation gaps across cultures, nationalities, and economic classes. It seeks to bridge these gaps by identifying and supporting talented individuals contributing to Ethereum's growth. The Fellowship Program is instrumental in breaking down barriers to entry for underrepresented people and communities, envisioning them as the future architects of Web3.
Conclusion
With a focus on research, community support, and advocacy, the Ethereum Foundation plays a pivotal role in shaping the future of decentralized technology. Its commitment to fostering innovation, collaboration, and inclusivity is evident through initiatives like the Ecosystem Support Program, Devcon, and the Fellowship Program.
The TOTAL cryptocurrency market cap tested the resistance area and is facing some selling pressure. The upward movement continues, and we may see a move towards the all-time high resistance area after some sideways movement.
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According to Glassnode, there has been a significant uptick in the active withdrawal of $ETH from exchanges. This trend indicates a growing shift towards self-custody and long-term holding among investors.
Читать полностью…Bitcoin experienced high volatility yesterday due to the news about Joe Biden. Elon Musk also changed his profile picture to show laser eyes, hinting at a big bull run. The price is slowly approaching the resistance of the $69,000-$70,000 area.
Читать полностью…MANA analysis:
Price is finding support at the uptrend line. We are awaiting a test of the resistance area to see how the price reacts. It's better to wait for new entries for now.
Resistance Area: $0.37-$0.395