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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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Here's the Analysis of #BAKE :
#BAKE is been aggressively jumped higher from the support zone towards the major resistance of $0.121 - $0.124 and kinda rejected. Price still maintaining bullish form trying to break the area. Potential buys will come after the break of the Resistance and Short-sells below $0.1100.
In terms of comparison, the dominance and expansion of Options markets have notably surged, with open interest experiencing more than a twofold increase in the past year. Currently, Options markets stand on par with futures markets in terms of the scale of open interest.
Conversely, the open interest in futures markets has been gradually decreasing since the latter part of 2022 (coinciding with the #FTX incident), and has registered only a marginal rise in 2023.
#BTC did a deep retest inside the range and again back up above it. This week is going to be volatile too. Weekly, Candle going again up, which might test out the deeper. $30,000 will stand same as resistance, which might get a rejection.
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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.
What Are Cross-Chain Bridges?
Cross-chain bridges, also known as blockchain bridges, are mechanisms that enable the movement of assets and information between different blockchain networks. These bridges facilitate interoperability and connectivity between different networks that may use different protocols and consensus mechanisms or have distinct functionalities that otherwise wouldn't be able to communicate with each other directly.
Why Are Bridges Important?
Bridges are crucial in addressing one of the most significant challenges in the crypto space – the lack of interoperability between different blockchain networks.
Each blockchain operates independently with its own unique set of rules, making it difficult to communicate and interact across networks. By connecting different blockchains, bridges enable the movement of tokens across chains and thereby enhance liquidity. This is particularly valuable in the decentralized finance (DeFi) ecosystem, where liquidity is crucial for the functionality of DeFi applications.
The Future of Cross-Chain Bridges
As the crypto space continues to expand and evolve, bridges will play an increasingly vital role in connecting blockchain networks. These bridges are expected to further enhance interoperability, scalability, and liquidity in the world of cryptocurrencies, expanding the range of possibilities for users and developers.
While using blockchain bridges can offer increased flexibility and connectivity, users should exercise caution. There have been numerous security breaches, highlighting the potential risks associated with bridges. Moreover, some bridges require more technical knowledge. As a result, it's crucial to thoroughly research and understand the intricacies of bridges before deciding to use them.
#APE is been broke above downtrend resistance line and did the retest and move up. Price made a high $2.11, which made around $7.51 in profits.
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Here's the Analysis of #RUNE :
#RUNE made a very strong bounce off the Support Zone of $0.769 - $0.804 and broke the downtrend channel too. Daily TF made a clean breakout and now potentially we might see a retest back too $1.20 level and below.