RSI, Relative Strength Index - an indicator which could be u | ENSIGN TRADING on Binance Square

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RSI, Relative Strength Index - an indicator which could be useful in your trading strategy. 
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#BTC formed the double top pattern inside the resistance area and dropping. Nothing much happening just broken minor support area, so just a minor pullback happening and can dump with this weekend. #BTC☀

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📉 The current drop in the price of BTC does not cancel the subsequent growth. Well-known analyst Eric Crown emphasized that historically July was a positive month for BTC. ✨In the opinion of experts, as long as the cryptocurrency remains above the May lows, there is a high probability of growth. According to the analyst, it will take until the end of July to prepare for a possible breakout in the value of BTC in Q4. ️ ↗️ The CME weekly close showed that BTC closed slightly above the median level, which supports bullish sentiment in the medium term.

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🔥 Cryptocurrencies are growing in popularity. About 562 million people worldwide, equivalent to 6.8% of the world's population, now own digital currencies, up 34% from 420 million in 2023. Important figures: ⚫️ The global user base for digital currencies reaches 562 million in 2024, up from 420 million in 2023. ⚫️34% of cryptocurrency owners are between the ages of 24 and 35, the highest proportion of any age group. ⚫️UAE, Singapore and Turkey are among the top 30 economies with the highest levels of cryptocurrency ownership. ⚫️Asia maintains its lead in cryptocurrency ownership, increasing from 268.2 million to 326.8 million, followed by North America with 72.2 million. With half a billion users worldwide, increased regulation and technological advancements, the adoption and use of cryptocurrencies will continue to grow.

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Here's the Analysis of #BETA : #BETA is been dropping after the triangle pattern formation and might reach the major support zone of $0.055 - $0.057. Price already broke the resistance around $0.063 - $0.064 which can be used a retest point before dropping. Not enough range so wait for the support. #beta

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What Is Liquid Staking and Why Is It Needed? For transactions on a blockchain to be processed, a consensus mechanism is required. The two most popular consensus mechanisms are Proof-of-Work (PoW) and Proof-of-Stake (PoS). Bitcoin uses the former, and Ethereum, Solana and BNB use the latter. Consensus mechanisms ensure network nodes (computers) agree on the blockchain state, valid transactions and block additions, without relying on a central authority. PoW used by Bitcoin requires miners to solve complex puzzles in order to validate transactions. PoS on the other hand requires validators to “stake” some of the blockchain’s native tokens to gain the right to validate transactions. Validators verify transactions, add blocks to the blockchain, and receive rewards as a result. A challenge, however, is that validators of the largest PoS blockchain, Ethereum, must stake a minimum of 32 ETH (worth around $52,000). This amount is not feasible for most users and makes staking on Ethereum inaccessible. Hence, platforms like Lido, Rocket Pool, and Tranchess emerged that offered users a service called “liquid staking” so that they can deposit a small amount of ETH in order to gain rewards even if they don’t hold 32 ETH. Since staking became possible in December 2020, staked ETH has remained locked for over two years. Staked Ether was locked to ensure that the network remains decentralized and secure, even as it transitioned to a new consensus mechanism in 2022 during the Merge. However, this stands in stark contrast to other pools where users can withdraw their staked assets according to their preference. This made Ethereum staking a less-than-ideal option for investors and contributed to the rise of liquid staking to enable liquidity in Ether tokens for their holders.

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