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#DYDX is been trying to breakout of the downtrend resistance line and will need a strong breakout to confirm. Minor breakout can turn this into a fakeout and push lower. Looking for $2.62 area, if price start breaking it.
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#BTC was rejecting the level but now flipped above the zone after the #FOMC News Release. Currently, price is very bullish at the moment and moving towards the $29,670 and $29,800 resistance area. Let's see if it breaks the $30,000 mark again or not.
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Interest Rates Increased by 25 BPS, which was expected.
FOMC Press Conference in another 15 Minutes, Another Volatile move may come with this
#APT broke below the area after a full day for consolidation range. Currently, price is been retesting the zone, which can push the price down further. If you're still in trade, then this can be potential scale-in.
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High Volatility Today, Be careful with your trade or any open positions in Futures.
All Timings are in GMT
Here's the analysis of #DYDX :
#DYDX is been in a correction phrase and about to the strong support area of $2.33 - $2.38. There's a resistance line coming above, where might reject through. As of now, no setups forming. Better wait for a breakout of the resistance line for buys or short-sell after break below of the strong support.
#HOOK continues to float down and even further and made a new lower low. You can close all the position as trade running Nearly 21% in profits. Anticipating further down moves from here 📉
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#BTC did what we anticipated, price gave a minor close below, which eventually failed to hodl and move all the down till support zone as mentioned. Again, #Bitcoin is trying to hodl above this support have to look after it. Wait for the price to either form a Daily support or a break below will lead it further dump.
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Here's the analysis of #JASMY :
#JASMY is kinda a messy moves here, not looking good to go. The support is around $0.00429 - $0.00459 and Resistance is at $0.00819 - $0.00833. Minor support & resistance area is around $0.00560 and $0.00728 respectively. It's a no trading zone, break of minor support will open the gates for sells till lower support.
#Bitcoin Long-Term Holder Supply is pushing to new #ATHs every day, after a long consolidation 📊
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#APT rejected the area and reached the strong support zone, its was a small scalp opportunity be take. Currently, price made a bullish candle over the support zone indicating tha buyers are taking control. Potentially, we'll continue to range for an another lap. Take tit accordingly.
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Here's the Analysis of #APT :
#APT is kinda ranging between the strong support zone of $9.764 - $9.961 and resistance around $10.72 - $10.87. Price is on the verge to break the resistance, and if broken then there's a clean room for buys to go. Otherwise, we can Reject from here back to support zone.
The price surge of #Bitcoin has resulted in the stability of Bitcoin supply held per Whale at around 5,350 #BTC per #Whale. However, the Market Cap percentage owned by the #Whale cohort is decreasing, despite the stability in the supply held.
On this, we can say, #Bitcoin Supply per Whale has remained stable, However, the percentage of the total market cap owned by #Bitcoin whales has been declining, indicating that smaller #investors may be buying.
Quick Market Update :
#BTC is pretty much ranging as of now, direction is no pretty much clear in midterm. On the other hands, majority altcoins showing same movement of either Consolidation or fakeout over it. Its better to wait for a breakout to happen, for further entries 📈📉
#BTC didn't made any change as volume of low. Price started consolidating in a range, in the middle of the zones. Well, we've long enough ranges, price breaks either side. Price on Daily TF, still above 50 EMA, which can be considered as overall structure is bullish.
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#MVRV Momentum Oscillator Making positive momentum over the few weeks now. We can see that, over the past data, this positive momentum comes, with a min-term bull rally, or a potential reversal 🚀
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What is #PoA (Proof of Authority)?
Proof of Authority (#PoA) is a consensus algorithm used in blockchain technology to validate transactions and create new #blocks in the blockchain. #PoA is a type of consensus algorithm that is similar to Proof of Stake (#PoS), but it is based on a different set of principles.
In a PoA system, there are a select few #validators who are authorized to create new blocks and validate transactions on the blockchain. These validators are typically referred to as "#authorities," and they are usually pre-approved by the network administrator.
Unlike other #consensus algorithms such as Proof of Work (#PoW) or Proof of Stake (#PoS), where the validators are chosen based on the computational power or the amount of cryptocurrency they hold, in PoA, the validators are selected based on their reputation and trustworthiness within the network.
In a PoA system, each authority has a unique identity and a #reputation score that is used to determine their ability to validate transactions and create new blocks. The higher the reputation #score, the more likely the authority is to be selected to validate transactions and create new #blocks.
Since the number of #authorities in a PoA system is limited, the consensus process is much #faster and more efficient compared to #PoW or #PoS systems. Furthermore, the PoA consensus algorithm is less resource-intensive, as it does not require the use of significant #computational power or #energy to validate #transactions and create new blocks.
Here's the analysis of #ADA :
#ADA trending below the major resistance area of $0.416 - $0.413. Currently, price hovering over the strong support zone around $0.375 - $0.378. Right now, its kinda range formed and should wait for a breakout. Alternatively, for buys, wait for a market structure shift
This Graph tells alot of things but the main part is out of 4.25M #Bitcoin, only 365K (8.3%) is been spent till now and 3.9M #Bitcoins are still remain Dormant, which total of 20% of the circulating supply and that's huge 👀
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#BTC bounced from the support area and reached the strong resistance level of around $28,550 - $27,700. Price kinda rejecting this area and might correct the whole move down till lower support and potentially form a lower low.
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What is (#PoRep) Proof of Replication ?
Proofs of Replication (#PoRep) is a type of consensus #mechanism used in blockchain technology to ensure the integrity of #data storage on a #decentralized network. It is a #cryptographic proof that a certain amount of data is being stored by a node or miner in a distributed storage network.
The basic idea behind #PoRep is to challenge a miner to prove that they have replicated a certain #amount of data, without actually revealing what that data is. The #miner is given a challenge that requires them to use the data they claim to have replicated in a #computation, and the result of that computation is used as proof that the data exists and has not been #tampered with.
#PoRep is often used in combination with Proof of Space and Proof of Time to form a more secure and efficient consensus mechanism. It is used in several blockchain networks, including #Filecoin and Chia Network.
#MATIC is been dropped back to the strong support zone of $0.943 - $0.951 and build-up a support area. Price trending strongly bearish, so expected a break below of the zone for short-sells
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Notice of Removal of Trading Pairs - 2023-05-04
https://www.binance.com/en/support/announcement/821d520d23f04be8a6b4ec692fdfd9e0
What is #PoST (Proof of Space Time) ?
#Proof of Spacetime is a consensus mechanism in blockchain technology that combines the concepts of Proof of Space and Proof of Time. In this mechanism, the ability of a participant to contribute storage space over time to the network is used to determine the #probability of that participant being chosen to validate a new block on the chain.
In Proof of Spacetime, participants allocate storage space to the network and prove the duration of their #storage commitment by periodically submitting proofs that they are still storing the #allocated space. This mechanism is designed to be energy-efficient and more resistant to #centralization than other consensus mechanisms.
One example of a #cryptocurrency that uses Proof of Spacetime is #Filecoin, which allows users to rent out unused hard drive space to others on the network in exchange for #Filecoin tokens. #Filecoin uses another concept of Proof of Replication (#PoRep), which will be explained in next post.
#TOTAL2 UPDATE :
#TOTAL2 is been slides down over the strong support zone of $608B - $616B and kinda rejecting the level. Already we can see altcoins is been ranging these weeks with the #BTC aggressive move. Index is sustaining below it, so we can anticipate, short-tern bearish move in alts, only if, the zone breaks as we're on support area.
#BTC gave a breakout of the consolidation range and reached the structural resistance area. Price rejected sharply over the zone and now given minor close below of the support around $28,550 - $28,700. If next candle sustains below this, we have clean move down till $27,800 - $27,870 support zone
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What is #PoT (Proof of Time) ?
Proof of Time (#PoT) is a consensus algorithm used in some #cryptocurrencies to validate transactions and add new blocks to the #blockchain. It is a type of proof-of-resource #consensus mechanism, uses time as the resource instead of #computing power or stake.
In #PoT, participants must show that they have waited for a certain #amount of time before they can participate in the consensus process. This waiting period ensures that participants have invested real time and resources into the network, and helps to prevent #attacks such as double-spending or #blockchain reorganizations.
To participate in the consensus process, participants must first wait for a certain amount of time, which can vary depending on the #cryptocurrency and the network's #configuration. Once the waiting period has #elapsed, participants can then validate transactions and earn block #rewards by providing valid proofs of their participation in the consensus #process.
#TOTAL MARKETCAP UPDATE :
#TOTAL Market-cap gave breakout below the major support zone and kinda retesting it. Earlier, there a breakout looks like a fake-out now. The area is about $1.15T - $1.98T to look for rejection, which will cause a drop till support zone around $1T and flip above again, will make a healthy push in altcoins and over crypto market.
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Here's the analysis of #MATIC :
#MATIC is been kinda ranging in a consolidation area between the major resistance area around $1.025 - $1.029 and strong support zone of $0.943 - $0.951 . Well, nothing pretty much clear, better wait for a breakout of the major areas for buys and in case price rejects it, we can take it as short opportunity.