Which formation does#Tronpoint to?

On the weekly chart, it is seen that the neck part of the bowl handle formation has been broken.

This means that the formation will continue for a distance equal to the bottom point and the neck part.

Although this period is a bit long since the chart is weekly, it can provide a good return for investors who like the long term, if they follow the formation.

Will the upward trend continue in SOLANA?

The activity in Solana for the past few days raises the question of whether I am returning to my old days.

However, the current status of the token and non-technical information question the continuity of this situation.

The 1.2 billion USD Sol token, which is located in Alameda and is likely to be sold, may continue the selling pressure.

In addition, the dominance it has reached has reached a significant resistance level.

In the light of these data, the idea that dominance cannot push the levels higher is more prevalent.

#SOLUSDT #btc #Solana

Could Bitcoin gain greater adoption? Here are the reasons.

One of the most important features of Bitcoin is that its deflationary properties make it an attractive long-term investment. But there is another feature that is often overlooked: Bitcoin's immutability.

There was a revival of optimism in the market after previously struggling with negativity. This is clearly seen in Bitcoin's social dominance.

The social dominance metric rose to its highest monthly level in the last 24 hours. This was no coincidence, given that hopes for a Bitcoin ETF have increased due to the SEC's expiration of the deadline to object to Grayscale's Bitcoin ETF.

But that's not all. Famous Italian car manufacturer Ferrari has just announced that it will accept BTC as payment for vehicle sales.

But not all the good news has contributed to Bitcoin's rise in social dominance. There were also reports that the US was concerned that a Chinese-owned Bitcoin mining operation in Wyoming was a potential threat to national security.

While this does not necessarily indicate a potential negative impact on price, the first two underscore the possibility that demand could be stronger in the long term.

One of the most important features of Bitcoin is that its deflationary properties make it an attractive long-term investment. But there is another feature that is often overlooked.

Bitcoin's immutability and DeFi offer freedom from the traditional financial system and tyrannical government regimes.

The truth is that governments are pushing for stricter regulations to maintain greater control over the masses. This is especially evident in Canada, where regulators have made it legal for banks to suspend accounts without the need for a court order.

Therefore, the long-term outcome could bring more demand for Bitcoin based on the above factor as people try to recover their financial freedom.

The formation of the wedge formation prepares the SHIB price for an upward rise.

The current correction phase in Shiba Inu price has begun to show a more consistent downward move outlined by a pair of converging trend lines. These trend lines, which offer dynamic resistance and support, indicate the formation of a bullish reversal pattern called the Falling Wedge. As the coin price approaches the top of this pattern, we can foresee a significant uptrend for this SHIB coin in the near future.

Will SHIB Price Start a New Recovery?
The ongoing correction in SHIB price may be followed by the development of a wedge formation.
An upward break in the wedge formation could signal a significant reversal in market trends.
Intraday trading volume of the Shiba Inu coin increased by 25% to $78.6 Million.

The cryptocurrency price on the daily time frame chart shows the formation of a falling wedge formation. Typically appearing at the end of correction cycles, a pair of converging trendlines reveal that bearish momentum is gradually waning. The asset has respected the limits of this pattern on three separate occasions from both sides in the last two months, underlining its significant impact on market sentiment.

Given the ongoing buying pressure, memecoin will likely test the upper trend line of the pattern for a potential breakout. An uptrend marked by a daily candle close above resistance could be an early signal of an impending recovery.

Consistent with the results of this pattern, a post-breakout rally could push the asset to price targets of $0.00000762 and then $0.00000876, equating to a possible gain of approximately 22.6%.

Ethereum Price Failed to Reverse Bearish Dominance.

Under bear dominance, the price has decreased by 5.61% in the last 7 days.
If the price declines below the recent low at $1524, it is likely to test the $1430 level.

Blockchain data research firm IntoTheBlock says the Ethereum network has entered a new era of lower transaction fees, once again testing the deflationary outlook for ETH. The research reveals that transaction fees on the Ethereum Blockchain have fallen by nearly 90% from their all-time high in May of this year to their lowest rate since April 2020.

Layer 2 solutions created to expand and improve Ethereum's scalability also stand out in the research for their role in reducing transaction costs. As a result of this advancement, Ethereum users will now be able to transact at lower rates.

At the time of writing, ETH is trading at $1547, down 0.03% in the last 24 hours, according to CMC data. Additionally, transaction volume decreased by 16.14%. Under bear dominance, the price has decreased by 5.61% in the last 7 days. The crypto market as a whole is facing serious selling pressure.

If the price declines below the recent low of $1524, there could be a further decline to $1430. A break of this support level will likely cause the price to test the $1145 support area. On the other hand, if the bulls can push the prices above the $1590 level, a short-term rise to the $1650 resistance area is likely.
#eth

Since the beginning of September, the Loom coin price has outperformed its peers in the crypto market. From the September 2 low of $0.0374, the cryptocurrency price rose significantly to $0.2948, recording a total gain of 682.6%. However, the price started witnessing supply pressure around the $3 psychological level, raising the question of whether the bullish momentum has been exhausted.

The potential correction could drop the price by 27.5% and then reach a key support at $2.
There is a 58% loss in LOOMer's intraday trading volume

LOOM price is trading at $0.27. At the $0.3 barrier, the cryptocurrency price formed two long wick rejection candles, reflecting indecision among investors. These uncertainty candles, which form after a large rally, indicate that bullish momentum has been exhausted and an impending correction.

It is common for an asset to show some pullback after a significant rally to compensate for depleted bullish momentum. This is a healthy activity that can also offer buyers the opportunity to reaccumulate this crypto at a discounted price.

The first significant support lies at $0.33, which aligns with the 23.6% Fibonacci retracement, followed by psychological support at $0.2, which aligns with the 38.2% Fibonacci retracement. Additionally, the $0.165 level, which corresponds to a 50% retracement, is a very important support level. A break below this point could indicate that buyer momentum is weakening, indicating increased risk to the cryptocurrency's bullish outlook.

Exponential Moving Average: The 20 and 50-day EMA can act as strong support during the pullback phase.
Relative Strength Index: The daily RSI slope at the 86% overbought retracement indicates the potential for a higher correction.
#loom

Ferrari (RACE.MI) has started accepting payments in cryptocurrency for its luxury sports cars in the United States, and has expanded the plan to Europe in line with demands from its wealthy customers, its marketing and trading chief told Reuters. He said he would expand it to .

Ferrari said the decision came in response to demands from the market and dealers, as many of its customers invest in crypto.

“Some of them are young investors who are building their wealth around cryptocurrencies,” he said. “Some are more traditional investors looking to diversify their portfolios.”

Ferrari shipped more than 1,800 cars to the American region, including the United States, in the first half of this year.

Galliera did not say how many cars Ferrari expects to sell via crypto. He said the company's order portfolio is strong and fully booked through 2025, but the company wants to test this expanding universe.

"The interest is the same in the US and Europe, we don't see huge differences," Galliera said.

Ferrari has turned to BitPay, one of the largest cryptocurrency payment processors, for the first phase in the US and will allow transactions with Bitcoin, Ethereum and USDC, one of the largest stablecoins. Ferrari may use other payment processors in different regions.

“If you pay via cryptocurrencies, prices will not change, there will be no fees or surcharges,” Galliera said.

Bitpay will instantly convert cryptocurrency payments into traditional currency on behalf of Ferrari dealers, so they will be protected from price fluctuations.

"This was one of our main goals: to avoid dealing directly with cryptocurrencies, both our dealers' and ours, and to hedge against their wide fluctuations," Galliera said. said.

Ferrari's marketing and commercial chief said the majority of U.S. dealers have already signed up to the plan or are about to.

source: Reuters

Tickets for the record-breaking Taylor Swift concert movie will also be available for purchase with ETH, XRP and more through AMC and BitPay.

The film, which achieved a stunning $100 million in pre-sales before it even premiered, documents Swift's ongoing, record-breaking worldwide concert tour that is expected to generate more than $5 billion in economic activity in North America alone.

The film's crypto connection comes courtesy of crypto payment service provider BitPay, which launched a partnership with cinema chain AMC early last year. Moviegoers now just need to access AMC through the chain's website or mobile app and select BitPay as the payment method at checkout. Users can purchase tickets with BTC, ETH, DOGE and SHIB, as well as other cryptocurrencies such as Bitcoin Cash, Litecoin and XRP.

Swift is now set to earn 57% of all ticket sales revenue from the film

If a significant number of ticket buyers opt for crypto payments, the film could create an interesting and potentially unprecedented scenario given its unique distribution pattern. Since Swift will directly earn such a significant portion of ticket sales, the star singer now has the potential to make or lose any amount of profit depending on the ever-changing whims of the crypto market.

A recent report from a top bank sent waves of excitement through the crypto community with its bold predictions regarding the growth of Ethereum (ETH).

Standard Chartered attracted the attention of investors worldwide by suggesting a potential upside of over 2,000 percent for ETH.

Looking at the 4-hour chart, ETH is stuck in a descending wedge formation with clear lower highs and lower lows.

Meanwhile, on-chain data from CoinGlass shows 4-hour short volume increased by 137% to $1.24 billion, indicating investors are bearish.

Even as Ethereum remains trapped in a web of uncertainty, bullish predictions for the world's second-largest cryptocurrency remain.

Standard Chartered Bank's latest forecast predicted that ETH could rise over 2,000% in the coming years.

The UK-based financial giant predicts that Ethereum will reach $8,000 by the end of 2026; This represents a 419% increase from current levels near $1,500

This price increase is driven by real-world use cases emerging in gaming, NFTs, decentralized finance (DeFi), and enterprise adoption, strengthening ETH's dominance as the world's leading smart contract platform.

Standard Chartered predicts that in the long term, Ethereum could reach between $26,000 and $35,000, a staggering 2,173% rise.

Upgrades such as proto-danksharding in 2024 are expected to increase Ethereum's capabilities and justify higher valuations for ETH.

With major banks like Standard Chartered now demanding massive ETH price targets like this, the stage looks set for Ethereum to become a major player in the financial and technological landscape.

The ongoing recovery trend in RUNE price has adopted a more stable approach with the effect of the widening channel structure. In the past two months, prices have rebounded from the lower trend line twice and twice from the upper trend line, indicating its strong impact on market participants. This altcoin is poised for a significant recovery as investors are currently under pressure from high demand at the lower trend line.

Uptrend reversal from support trend line signals a 38% recovery
Disruption of the channel model will also put this altcoin at risk of a major correction

Intraday trading volume is 126 Million Dollars, indicating an increase of 104%.

After the RUNE upward move, the price begins to turn into a widening channel pattern. In theory, diverging trendlines of the chart pattern reflect increased volatility.

Amid the recent pullback in the crypto market, price action is exhibiting a pullback from the overhead resistance trend line at $2.26 and completing a negative loop to test the lower support trend line.

However, with the additional support of the 200-day EMA, the cryptocurrency price manages to meet the incoming supply and avoids breaking the support trend line around $1.55.

Optimistically, buyers may manage to regain bullish momentum as the overall market indicates the possibility of a recovery rally this October season. In such a case, Rune prices could reclaim the general psychological mark of $2 and, with a better possibility, retry the $2.26 high

If sellers keep the uptrend in check, a sharp increase in supply could break the support trend line. In such a case, the downtrend momentum will increase significantly as the downtrend fuels the downtrend.Therefore, falling prices on the lower side could test the critical support at $1.38.

Warren Buffett, often revered as the Oracle of Omaha, has never shied away from voicing his skepticism towards Bitcoin. He once suspected that Bitcoin and other cryptocurrencies were “gambling tokens” with no real value.

But the tide appears to be turning, albeit unintentionally, as Buffett's investment in Nubank has propelled him into the crypto industry.

Warren Buffett's Berkshire Hathaway invested $500 million in Nubank, a Brazil-based digital bank, ahead of its IPO (IPO) in 2021. This fintech marvel simplifies traditional banking services and allows customers to trade Bitcoin and other cryptos.

Following the IPO, Berkshire Hathaway invested an additional $250 million in Nubank, bringing the total investment to $750 million. The current value of the position stands at $840 million, assuming Berkshire has not purchased or sold any shares since the end of the second quarter.

Nubank further forayed into the crypto industry with the launch of its altcoin, Nucoin, earlier this year. Posting over 100% growth in its stock price this year, Nubank's market performance has eclipsed other heavyweight holdings in Buffett's portfolio. These include giants such as Amazon, Apple, Coca-Cola, Bank of America and Kraft Heinz.

Buffett's indirect involvement with crypto through Nubank is ironic as global financial markets navigate turbulent waters. This investment strengthened Berkshire Hathaway's financial position amid a potential $17.7 trillion market earthquake.

Litecoin [LTC] has been around for 12 years since its launch, and today, October 13, is its anniversary.

Litecoin had fewer than 10,000 addresses on October 13, 11 years ago. Today the network has more than 214 million addresses. It's quite a feat in terms of adoption and shows how much the network has grown.

Litecoin had previously experienced large declines in its ATHs, and in the last bear market in 2022-2023, prices fell to previous lows.

The price decline metric highlighted LTC's long-term boom and bust cycle. It also found that bear markets become quite evident before the next bullish wave occurs. And when a rally finally begins, it's usually a sharp rally that lasts shorter than a bear market.

LTC's massive pullback from its 2021 highs suggests that the next bullish cycle may be drawing closer with each passing day. Examining whale activity against the supply distribution metric revealed mixed activity that is not entirely consistent with strong demand.

The largest whale category (addresses with more than 1 million LTC) has been selling since July. Meanwhile, the addresses with the largest share of circulating supply (addresses with 100,000 to 1 million LTC) have not shown much activity in the last three months.

While the above findings suggest that the next long-term rally may take some time, things may turn out differently in the short term. That's because, at press time, Litecoin was showing signs that it might be on the verge of a relief rally following its 46% decline since June highs.

Additionally, LTC's Relative Strength Index (RSI) has already shown signs of increasing bullish strength. However, the Money Flow Index (MFI) recently showed that outflows associated with the downward trend have continued since the beginning of October.

In a decisive development, the US Securities and Exchange Commission (SEC) has decided not to appeal a recent court decision that found it unfair to deny Grayscale Investments' application to create a spot bitcoin exchange-traded fund (ETF).

The District of Columbia Court of Appeals in Washington ruled in August that the SEC was wrong to reject Grayscale's proposed Bitcoin ETF. The SEC's decision not to appeal the ruling could potentially expedite review of Grayscale's application.

The Spot Bitcoin ETF will offer investors access to the world's largest cryptocurrency by market cap, without needing to own it directly. However, the SEC has consistently rejected all spot Bitcoin ETF applications, including Grayscale's, on the grounds that the applicants did not have adequate safeguards to protect investors from market manipulation.
In response, Grayscale argued that the SEC's approval of certain custody agreements to prevent fraud in Bitcoin futures-based ETFs should be sufficient for its spot ETFs.

Grayscale's legal battle hinged on the SEC's inconsistent approach to spot and forward Bitcoin ETFs; but both carry similar risks and are priced on the same spot markets. The argument is built on the premise that both spot and futures funds are tied to the price of Bitcoin. The appeals court also arbitrarily rejected Grayscale's application, stating that the SEC did not explain the material difference between the two regulations.

The news was well received among the crypto community.

The SEC's failure to appeal the court decision now clears the way for other asset managers, including BlackRock, Fidelity and Invesco, to file similar filings with the SEC for a spot Bitcoin ETF. The SEC is expected to decide on these applications by next year at the latest.

One analyst outlined two possible scenarios for ADA from its current phase, one bearish and the other bullish.
The weekly price chart of Cardano (ADA) is colored red, reflecting the overall market performance over the same period. The eighth-largest cryptocurrency by market cap has lost nearly 7% of its value in the past seven days, according to CoinMarketCap data.
Popular on-chain analyst Ali Martinez noted that interestingly, the ongoing trend in X is similar to that seen in 2018-20. From this point on, he outlined two possible scenarios for ADA, one bearish and the other bullish.

In the bearish scenario, a long consolidation phase was envisaged for ADA, in which participants would have to wait until 2024 for an upward move. This narrative was based on historical readings. Recall that the Covid-19 pandemic hit the market around the same time, preventing ADA from gaining bullish strength.

On the other hand, the bullish idea suggested that there could be a breakout by December, excluding the impact of unforeseen events such as Covid-19.
It made sense to examine other on-chain indicators to see if they supported ADA's recent rise. Whale supply was a reliable tool in this regard.

According to Santiment, whale investors gave mixed signals. While the cohort holding between 1,000-1 million ADA tokens has been steadily adding to their stacks over the past month, significant outflows have been seen from the group holding between 1 million-10 million coins.

Therefore, it was difficult to determine precisely the impact of whale transactions on ADA's price movement.

Despite the uncertainty and recent declines in prices, most investors appeared to have a positive view on ADA. This is evidenced by the positive Predominant Sentiment, implying that positive comments for the ADA outweigh the negative discussions around it.