currentaffairs

#CurrentAffairs
Here's the latest cryptocurrency news:

Market Updates
- Bitcoin (BTC) has consolidated between $94,000 and $100,000 in the last nine days, while Ethereum (ETH) and Ripple (XRP) prices have stood relatively stronger, gaining nearly 3% and 7%, respectively, this week.¹
- The cryptocurrency market has been experiencing a mix of trends, with Bitcoin's price stagnating around the 100-day moving average.

Regulatory News
- The Securities and Exchange Commission (SEC) has acknowledged Grayscale's 19b-4 filing to convert its XRP Trust to an ETF, causing XRP's price to surge 4%.
- US states are advancing Bitcoin reserve legislation, while Abu Dhabi has disclosed over $460 million investment in BTC ETFs.

Coin-Specific News
- Solana-based meme coin, BONK, has surged over 20% this week after its listing on Upbit, South Korea's largest crypto exchange.²
- Ripple's XRP price has consolidated around $2.40, up 11% since Monday, with technical indicators suggesting Stellar (XLM) has joined the rally.

Expert Insights
- Brian Armstrong, CEO of Coinbase, predicts that Bitcoin adoption will reach several billion people by 2030 at current rates.³$

#ADABullish #ADAUpdate #FutureTarding #SpotTrading. #CurrentAffairs

Looking at ADA/USDT chart on the daily timeframe, let's break down the potential entry, stop loss, and take profit levels based on the current candle patterns and technical indicators:

Technical Analysis Overview:

Price Action:

Current price: $0.7062

There was a recent sharp spike to $1.1747, followed by a strong rejection, showing heavy selling pressure.

The price has pulled back and is now consolidating between $0.69 (recent low) and $0.77 (MA 25 resistance).

Moving Averages:

MA(7): $0.7239 (just above the price acting as resistance)

MA(25): $0.7714

MA(99): $0.8995

Price is below all major MAs, indicating a bearish trend.

Candlestick Pattern:

Recent candles show indecision (small bodies), suggesting a potential reversal or continuation.

Last candle is a small-bodied candle (possibly a doji), which often signals a potential change in direction when found at key support/resistance.

Volume:

Recent decreasing volume, indicating weakening momentum.

Trade Plan (Futures):

Entry:

Conservative Long Entry: $0.7200 - $0.7250

Enter on confirmation of a bullish candle closing above the MA(7).

Aggressive Long Entry: At current price $0.7060 - $0.7080

If you anticipate a bounce from the $0.6900 - $0.7000 support zone.

Stop Loss:

Conservative SL: $0.6900

Below recent support and 24h low.

Tighter SL: $0.6990

If you're looking for lower risk and tighter control.

Take Profit (TP):

TP1: $0.7500 (near the MA(25) resistance)

TP2: $0.7700 - $0.7800

If it breaks above MA(25) with momentum.

TP3 (Extended target): $0.9000

If it gains enough strength to test the MA(99).

Bearish Scenario (Short):

If the price breaks below $0.6900, it could continue the downtrend.

Short Entry: $0.6880

SL: $0.7050

TP1: $0.6600

TP2: $0.6200

Summary (Long Bias):

Entry: $0.7060 - $0.7250 (watch for bullish confirmation)

Stop Loss: $0.6900

Take Profit: $0.7500 / $0.7700 / $0.9000

Let me know if you want me to adjust the plan for different timeframes or risk levels!

$Let's check the facts between
$USD and BRICS ‼️🚨⚠️ "effect on CRYPTO"

The emergence of a BRICS currency (proposed by Brazil, Russia, India, China, and South Africa) as a potential alternative to the US dollar in global trade and finance could have significant implications for cryptocurrency markets. Here's an analysis:

Impact on Cryptocurrencies

1. Shift in Global Reserve Dynamics

De-dollarization: If the BRICS currency gains traction as a global reserve or trade currency, it could accelerate the trend of de-dollarization. Cryptocurrencies like Bitcoin, often seen as a hedge against fiat currency instability, might gain attention as nations and investors diversify their assets.

Reduced Dollar Dominance: Cryptocurrencies tied to the US dollar (e.g., stablecoins like USDT) could face challenges if the dollar's influence wanes. However, crypto might also benefit from reduced reliance on centralized fiat systems.

2. Increased Interest in Decentralization

A BRICS currency would still be state-controlled. This might push individuals and institutions toward decentralized currencies like Bitcoin or Ethereum as a neutral, borderless alternative free from geopolitical influence.

3. Regulatory Pressures

Governments may intensify cryptocurrency regulation to maintain control over financial flows as new state-backed currencies emerge. This could stifle crypto growth in certain regions but also legitimize the industry in others.

4. Impact on Stablecoins

Multi-Currency Stablecoins: Stablecoin issuers might adapt by creating baskets of currencies (including the BRICS currency) to stabilize value.

Potential Competition: A strong BRICS currency could reduce demand for dollar-pegged stablecoins in regions favoring the new currency.

5. Enhanced Global Trade Opportunities

Cryptocurrencies might become a medium for cross-border trade, especially in regions where neither the dollar nor the BRICS currency dominates. Blockchain’s transparency and efficiency could make it a preferred tool in decentralized trade ecosystems.

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