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#BTC played perfectly inclined with other HTF charts. We've a huge bearish candle after the rejection and going as expected. Well, next week we can expect some retracements and over have to reach out the support zone around $25,000 and below ($24,150 - $24,500).
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Here's the Analysis of #THETA :
#THETA performed same as other altcoin in the market and reached the major support zone of $0.554 - $0.595 and kinda getting rejection from it. Well, if you took buys then its ok, anyways it will be risky at this point. Better wait for the price to form resistance for shorting opportunities.
Difference Between Total Supply vs Circulating Supply vs Max Supply ?
Total Supply, Circulating Supply, and Max Supply are crucial concepts in the world of cryptocurrencies, each offering distinct insights into a digital asset's characteristics.
Total Supply : This refers to the overall quantity of coins or tokens that a cryptocurrency protocol has the potential to generate. It encompasses all coins that have already been mined and those yet to be mined. However, it might include coins that are locked, unreleased, or reserved for various purposes. Total Supply provides a broad view of the asset's potential availability.
Circulating Supply: This represents the number of coins or tokens that are currently accessible and actively circulating in the market. It excludes coins held in reserve, locked, or otherwise not available for trading. Circulating Supply gives a more accurate reflection of the asset's liquidity and how much is readily tradable.
Max Supply : Max Supply is the upper limit of the number of coins or tokens that will ever exist within a cryptocurrency's protocol. Once this limit is reached, no more coins will be created. Max Supply sets an ultimate cap on the availability of the asset and plays a role in determining its scarcity and potential long-term value.
Understanding the distinctions between these supply metrics is essential for evaluating the market dynamics, investment potential, and fundamental attributes of a cryptocurrency.
Here's a quick guide to learn support and resistance. This guide is really helpful to understand what actually it is and why does it work.
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Dear members,
Exactly 48 hours left for our biggest MEXC pump signal in history!! We expect the maximum number of participants in this pump, reaching millions of traders from every corner of the world. The whales we have on our team for this pump are the biggest we’ve ever had, We’ll be constantly pushing the price higher, not likely seeing many retracements. Buying and holding as soon as the signal is announced will be the most profitable strategy. Our goal in this pump is to guarantee all our members the biggest profits possible, aiming at a minimum of 3000%-5000!! Big reminder that we are doing the pump on MEXC.
In last 24Hours, More than $1B Liquidated, This Reason why you should use stoploss in every trade and read market sentiments.
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#BTC made a huge crash and rejection some sort of support zone. We're already indicating from long time, sign of bearishness. Price nearly tapped out the major support zone of $24, 670 - $24,880. Well, Wait for the market to settle down as its strongly volatile at this moment.
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Hello everyone, 3 days left until our next free for all pump on MEXC. We can guarantee that this upcoming pump will have amazing results, we are expecting at least a minimum of 3000% and more on the initial spike and multiple waves to follow through. This pump will have alot of support from our team. As we get closer to the pump, more details will follow , stay tuned!
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The market is currently showing a preference for lower-risk options, as indicated by the gradual rise in #Bitcoin dominance within futures markets. In the period of 2021-2022, #Ethereum futures markets observed a consistent growth in trading volume and open interest compared to #Bitcoin, reaching a peak split of 60% BTC and 40% #ETH in the latter half of 2022.
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#BTC gone exactly as expected, price made a sharp push down with the yesterdays #FOMC meeting and nearly reached out the support zone as drawn. Well, minor pullback can be taken in place now and still expecting a new lower low to reach out the support zone around $28,100 mark.
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What is Decentralized Application (DApp) ?
A Decentralized Application (DApp) is a software application that operates on a decentralized network, typically utilizing blockchain technology. Unlike traditional applications that are hosted on a central server, DApps run on a distributed network of computers, making them more resistant to censorship and single points of failure.
DApps usually have three key components: a frontend user interface, a backend logic that manages the application's functionality, and smart contracts deployed on a blockchain to enforce rules and protocols. DApps can be built on various blockchain platforms, such as Ethereum, Binance Smart Chain, or others.
These applications offer various functionalities, including financial services, gaming, social media, and more. DApps often empower users with greater control over their data and transactions, as well as the ability to participate in decentralized governance processes. The decentralized nature of DApps contributes to increased security, transparency, and user ownership compared to traditional centralized applications.
#GRT is been sell-off as expected and reached the support zone of $0.0960 -$0.0977. If you took the sell with the call then you're in 9.35% in profits. I hope you did scalp the move and currently, price is reacted strongly from support but anticipating the break of it.
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Dear members, Due to massive request from our community we have decided to schedule our next big pump at MEXC.
Date : 20-August-2023 Sunday
Time : 4 PM GMT
Pairing : USDT
Exchange : MEXC
Advantage : Free For All
With the success of our previous big signals and the altseason coming, we are ready to announce our next big signal on MEXC. We have decided to start pumping on MEXC for multiple reasons. 1st of all, we believe that with our massive buying power we will be able to reach 3000%-5000% easily possibly even more. 2nd of all, MEXC doesn't require KYC meaning you can make an account there without verifying your identity and get past any restrictions other exchanges could have. Finally, there is very little hidden sell pressure in the orderbooks. After the previous signal and hours of discussion with our team, we have decided to schedule our next signal in 5 days to make sure that we are fully prepared. Our main goal for this pump signal will be to make sure that every single member in our group makes a massive profit. With our ability to keep creating the most powerful and biggest pumps , we will take every opportunity we can get. We welcome everyone to join us as we create the next big pump all traders and investors all over the world have been waiting for.
We have 5 days to prepare for this massive free-for-all pump, this event will be the biggest one that we have done in the history of our group and will top our previous ones in terms of % gain. Instructions will be given out in the upcoming days to make sure all our members are prepared for MEXC. We are expecting hundreds of thousands of people all across the world to attend this pump and possibly more than a million people across all social medias will be watching. Be prepared. We will be giving out more information when we are closer to the signal date, stay tuned!
#BAKE pushed above all the way to the major resistance, and in a phrase of strong retest all the way down. Well, you can risk little buys over the support, in anticipation of continuation
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📣 12 hours remaining until our pump on MEXC! Our pump will be free for all and everyone will receive the signal at the exact same time. A few tips before we begin : Buying early and fast is very important! Make sure to be active during the pump. If you buy and sell for a profit we suggest adding a buy order at a lower level afterwards to ride the waves and help support the pump, never sell on the buy supports! Instead sell slowly in parts as the price goes up. We are aiming at 3000%-5000% gains today possibly even more, make sure you have “USDT” in your “MEXC wallet” before pumping.
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Exactly 24 hours left for the biggest MEXC Mega Pump we’ve ever seen, expect profits of no less than 3,000% and a volume never seen before, our big whales will be pushing price up for hours after our initial signal, getting the biggest volume from outside traders, and making sure all our members make huge profits again!
Make sure you have “USDT”in your “MEXC wallet”before pumping. Be ready at 4pm GMT tomorrow.
#BITCOIN DAILY TF UPDATE :
#BITCOIN played in HTF exactly as expected, price made a sharp drop over the market and is been near reached the support zone nearby $25,000. Price mostly slow down after these strong moves, and Weekend is on, so wait for the Global to open and see where it drives.
Here's the Analysis of #LINK :
#LINK is been strongly dumped with the market conditions and reacted from the strong support zone of $5.75 - $5.80 and expected to reach around major support zone of $5.39 - $5.53. Its a strong volatile move, so wait for a retracement for short-sells opportunities.
Types of Max Supply ?
Fixed Max Supply: It is the most common type and is implemented in most cryptocurrencies. It is a predetermined number of coins that can never be increased or decreased, regardless of demand. Bitcoin is an example.
Deflationary Max Supply: A deflationary maximum supply is one that is designed to decrease over time. This type of supply is usually implemented in cryptocurrencies to reduce the inflation rate and boost its scarcity. Ethereum hopes to become a deflationary max supply coin.
Dynamic Max Supply: A dynamic maximum supply is one that changes according to predetermined parameters, such as supply, demand and inflation. This type of supply is designed to be more flexible and adaptive to market conditions.
No Max Supply: Some cryptocurrencies have no maximum supply, meaning that the number of coins can increase indefinitely. This type of supply is often seen in utility tokens, where the supply is not limited by the number of coins but by the number of users.
#ALGO made a easy drop as per plan and made a low around $0.0820, which makes around 20.3% in profits. I hope you secured some with the market moves. We can again go for a retest is price reaches $0.0103.
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Here's the Analysis #RUNE :
#RUNE is been consolidating below the strong resistance zone of $1.682 - $1.711, where price nearly tapped into it. Well, the structural support is near at $1.40 - $1.44 and nothing we can do until it breaks out either side. Potential buys can go from support till resistance, so take it accordingly.
What is Max Supply ?
Max supply represents the highest projected quantity of coins that will ever be in circulation for a cryptocurrency throughout its existence. Once this upper limit is reached, no further coins will be created or added. The determination of max supply is typically guided by the specific rules and protocols of each cryptocurrency. For instance, Bitcoin's max supply is fixed at 21 million coins. However, not all cryptocurrencies adhere to a predetermined fixed supply model, as is the case with Ethereum.
It's important to differentiate max supply from total supply. While max supply encompasses both the coins that have already been mined and those that remain to be mined, total supply takes into account the coins that have been lost in addition to the mined ones. The concept of max supply is integral to understanding the potential scarcity and long-term dynamics of a cryptocurrency's ecosystem.
#ALGO gave and minor breaks and close below of the support zone, is been acting as resistance now. You can look for short-sells here, as market seems to be bearish now.
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Here's the Analysis of #ALGO :
#ALGO is been Rejected Hard from the Strong Resistance area of $0.1169 - $0.1184 and currently, lying on the support zone of $0.103 - $0.104. Well, as per market condition, we can expect a breakout now. Alternatively, its a pretty huge range, if Daily form the support then we can trade this range all the way up till resistance area.
We can see a very similar context using on-chain realized prices which model the cost basis for three cohorts:
🟠 Entire market (the realized price).
🔴 Short-Term Holders (coins younger than 155-day).
🔵 Long-Term Holders (coins older than 155-day).
The spot price is again trading above all three models and demonstrates a strong confluence with the classic technical analysis tools above.
#BTC Resistance around $29,500 - $30,000 remains strong and printed a lower low inside the consolidation range. Well, we're already bearish for this week and expecting the news to move down.
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Here's the Analysis of #GRT :
#GRT is been rejected hard from the major Resistance zone of $0.132 - $0.125 and moving inside the falling wedge pattern, which trying to breakout of falling wedge pattern, but volume is not strong enough to go for. Expecting the down-move till support zone of $0.0960 - $0.0977, which can be taken as short-selling opportunities for scalping.
The Realized Price Line for #Ethereum has remained relatively stable between 1.5K to 1.6K from January to August 2023. This line signifies the average neutral price for Ethereum holders.
The Market Price Line, in contrast, displays more fluctuations. When it falls below the Realized Price, it quickly rebounds, hinting at the market viewing Ethereum as undervalued during such instances. This resilience may reflect a strong underlying confidence in Ethereum's value, suggesting it's worth more than recent transaction history implies.
For long-term investors, considering buying and holding Ethereum near the Realized Price Line could be a prudent strategy.
#BITCOIN DAILY TF UPDATE :
#BITCOIN started a new range below the support, which is acting as resistance now. Price already getting multiple rejection from there, and probability is higher to move to the downside, until any news came out. Keep Daily and Weekly TF in mind and trade accordingly.