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Cardano (ADA) Price Trends Compared to Market Dynamics

#ADA  #Cardano  #ada  #WarzirX  #BlockFi  $ADA  $BTC  $USDC 

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Investors Sell Shiba Coin Due to Weak Demand 🔥BRED Airdrop Is live🔥 Get 200,000 BRED Tokens Worth Of $200 USDT, Join Airdrop Now Official Site On: WWW.BREDTOKEN.XYZ The growing competition among meme coins, coupled with a general lack of investor interest, has created a challenging environment. Bitcoin, after reaching a peak this year, has struggled to maintain demand above $70,000. Complications in the ETF market are further exacerbating overall conditions. Amid this backdrop, Shiba Coin’s position remains uncertain. What are the current trends and what can investors anticipate going forward? Weakness in Shiba Inu (SHIB) Despite lower-than-expected PCE data and the first Federal Reserve rate cut in 19 days, interest in altcoins remains subdued. Bitcoin has dipped below $58,000, and Shiba Coin holders continue to liquidate. The Realized Loss indicator, which peaked in August, now signals similar levels last seen during the July decline. Significant realized losses are driving investors to sell, further confirming the downward trend for Shiba Coin. The Relative Strength Index (RSI) shows that SHIB has been below the neutral zone for an extended period, indicating a long-standing decline in investor enthusiasm. What About Other Meme Coins? Newer meme coins like PEPE Coin and FLOKI are also experiencing weakness, making Shiba Coin’s situation predictable. This trend causes any upward movement by Bitcoin to be seen as a selling opportunity for Shiba Coin and similar assets. At present, Bitcoin is trading at $58,080, having hit a daily low of $57,946. The weekend appears bleak, known for its low trading volume. Key Takeaways for Investors – Monitor the Realized Loss indicator for signs of increased selling pressure. – Watch the RSI for confirmation of downward trends. – Be cautious of weekend trading due to historically low volumes. – Note that Bitcoin’s movements heavily influence meme coin prices. #ShibaInu #Dogecoin #Memecoins #CryptoNews $DOGE $SHIB $BTC

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Bitcoin touches $58k again as analysts share bearish forecasts 🔥BRED Airdrop Is live🔥 Get 200,000 BRED Tokens Worth Of $200 USDT, Join Airdrop Now Official Site On: WWW.BREDTOKEN.XYZ Bitcoin fell to lows of $57,700 on Coinbase as prices dipped during the US trading session. Analysts predict further weakness is likely, and here’s what they are saying At the time of writing, Bitcoin (BTC) traded around $58,486 across major crypto exchanges. However, the digital asset’s price had touched lows of $57,700 on US-based crypto exchange Coinbase amid fresh selling pressure. Notably, before this latest dump, crypto analyst Miles Deutscher had shared an observation: the last few weeks have seen prices rise during Asian hours and dip during US trading hours. Potential downside to $56k? CryptoQuant head of research Julio Moreno suggests the $56k area remains key. If the price falls below this, the analyst sees a further weakness. According to Moreno, Bitcoin’s market cycle indicator has flashed bearish again and BTC risks a deeper correction below the demand zone. “From a valuation perspective, if the price pierces $56K to the downside, risks of a larger correction increase,” the CryptoQuant analyst noted. Could Bitcoin see $40 next? Altcoin Sherpa is outright bearish on BTC price. The crypto analyst shared a chart that suggests the dip is likely to extend to $40k. The last time Bitcoin traded at these levels was in January, when prices retreated from above $46k to revisit $39k. That’s before bulls saw BTC skyrocket amid the halving sentiment and spot Bitcoin exchange-traded funds approval to reach the all-time high above $73k. BTC price is down 12% in the past month and over -21% since its all-time high in March as of 1:30 pm ET on August 30, 2024. #BTC #Bitcoin #CryptoNews #TON #TelegramCEO $BTC $ETH $BNB

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Nvidia, Apple, and Microsoft pursue OpenAI in $100 billion funding round 🔥BRED Airdrop Is live🔥 Get 200,000 BRED Tokens Worth Of $200 USDT, Join Airdrop Now Official Site On: WWW.BREDTOKEN.XYZ Nvidia, Apple, and Microsoft are reportedly exploring opportunities to invest in OpenAI, the company behind ChatGPT. The investment is part of a new funding round featuring Thrive Capital, which could give OpenAI a valuation of more than $100 billion, the New York Times reported. The funding round led by Thrive Capital, with an expected investment of around $1 billion, may have all three tech giants supporting OpenAI. Microsoft has been a key player in OpenAI’s growth, owning 49% of the company’s income since injecting $13 billion in 2019. This has enabled Microsoft to integrate OpenAI in its products, such as Azure, the Edge browser, and the Bing search engine. Nvidia and Apple unveil AI plans and seek market dominance In June, at the annual Worldwide Developer Conference (WWDC), Apple announced that it would integrate OpenAI’s ChatGPT into its devices like iPads, iPhones, Vision Pro headsets, and Macbooks. Nvidia, which controls about 80% of the market for AI chips, could also benefit from the cooperation with OpenAI. If Nvidia is able to remain the primary hardware supplier in the development of AI, this investment will only help further solidify its position in the market. OpenAI needs high-performance computing, which is something that Nvidia does best, and therefore, this partnership is mutually beneficial for both companies. OpenAI’s financial stability has come under question. It has been reported that the company intends to invest about $7 billion in AI training. Additionally, $1.5 billion has been set for hiring in the next year. #Nividia #Apple #OpenAI #CryptoNews #TON $BTC $ETH $SOL

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Cardano (ADA) Price Could Decline 10%, Here’s Why 🔥BRED Airdrop Is live🔥 Claim Instant 50,000 BRED Tokens Worth Of $50 USDT, Instant Airdrop Is Live For Next 24 Hours, Join Airdrop On WWW.BREDTOKEN.XYZ In this bearish market sentiment, the majority of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are experiencing significant selling pressure. Amid this market downturn, Cardano (ADA) also appears bearish and may face a substantial price decline despite the accumulation of millions of tokens by whales. Cardano Whales Added 170 Million ADA Tokens According to the on-chain analytic firm Santiment, Cardano Whales holding over 100 million ADA tokens have added over 170 million tokens between August 27 and August 30, 2024. This massive accumulation ahead of Cardano’s highly anticipated Chang Hard Fork update was initially considered a bullish outlook for ADA. Cardano Price Prediction However, due to the bearish market sentiment on August 30, 2024, ADA has experienced a crucial breakout down of the ascending trendline. Since August 5, 2024, ADA has taken multiple support of this trendline, and each time it has seen an upside rally. Following this recent breakdown, there is a high possibility it could fall by 10% to the $0.305 level. Currently, ADA is in a downtrend as it is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. However, its Relative Strength Index (RSI) is in an oversold area indicating a potential price reversal. ADA’s Key Liquidation Levels However, ADA short sellers are dominating the asset and liquidating long positions. According to the on-chain analytic firm CoinGlass, the ADA exchange liquidation map indicator signals short sellers have huge potential to liquidate millions worth of long positions. Currently, the major liquidation levels are near $0.337 on the lower side and $0.365 level on the upper side, as traders have been over-leveraged at these levels. #Cradano #ADA #Altcoins #TON #DOGSONBINANCE $ADA $BTC $SOL

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Crypto Analysts Spot Buy Signal: Bitcoin Nears Recovery Bitcoin shows a recovery signal on the 12-hour chart, suggesting upward momentum. Despite facing resistance at $65,000, Bitcoin finds strong support at $58,000. The consolidation phase, with minor gains and declines, highlights market instability. Bitcoin is currently showing signs of a potential recovery, as noted by crypto analysts, with a buy signal on the 12-hour chart via the TD Sequential indicator. The analysis covers Bitcoin’s market behavior from August 26 to August 30, 2024. Following a significant drop to $59,000 on August 27 from a high of $64,000, the market has entered a consolidation phase. This period is characterized by minor gains and slight declines, as shown in green and red candlesticks that mark Bitcoin’s unstable trading range. The latest update on August 30 shows a small green arrow on Bitcoin’s chart, hinting at possible upward movement in the near future. Despite these fluctuations, Bitcoin remains below the $60,000 threshold, struggling to climb back to its recent peak. In another analysis, crypto analyst Jelle has highlighted Bitcoin’s struggles near the $65,000 resistance level. According to his analysis of the daily chart, Bitcoin has consistently failed to surpass this barrier, marked by numerous rejections indicating a robust sell-off each time it nears this threshold. Meanwhile, Bitcoin has found support around the $58,000 mark, bouncing back multiple times, underscoring the buyers’ lower-level presence. Over the past 24 hours, Bitcoin has seen a slight decrease in its price, at $59,493 at press time, marking a 1.45% drop. The cryptocurrency experienced fluctuations between a low of $58,707 and a high of $61,184 during this period. Despite today’s dip, Bitcoin’s price remains significantly volatile as it navigates challenging market conditions. #Bitcoin #BTC #CryptoNews #TON #BNBChainMemecoins $BTC $ETH $SOL

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