BTC CHART
Bitcoin has moved as anticipated following the breakout, and it is currently trading near the $45,000 resistance level. The reaction at this resistance area will be crucial to determine the next course of action. A successful break above $45,000 could propel the price towards the $48,000-$50,000 range, while a rejection may lead to a decline towards the $40,000-$42,000 support area.
BNB CHART
BNB Analysis:
BNB is breaking out of the symmetric triangle pattern, but it's prudent to wait for a candle close above the trendline to confirm the breakout. If confirmed, we might witness a move towards the resistance area, and it's essential to observe how the price reacts upon reaching that level. The support and resistance levels remain unchanged for now.
SUSHI CHART
SUSHI Analysis:
Price is currently oscillating between the support and resistance levels. We might witness a price surge towards the resistance area and observe its reaction. You can place your buy orders in the support area and wait for the price to rebound.
Support Area: $0.995-$1.01
Resistance Area: $1.22-$1.25
EDUCATIONAL POST
What are flash loans?
A traditional banking system includes secured and unsecured loans. Secured loans are the ones where the user should attach collateral. Unsecured loans there is no need for collateral as the loan will be sanctioned based on the user’s CIBIL/CRIF score.
A flash loan is a form of trading where users can borrow an unsecured loan without any intermediary. The smart contract will monitor the transactions and will ensure that the transaction will execute when the user adheres to the rules given in the contract.
The smart contracts are pioneered by Aave, one of the top lending protocols in DeFi. The size of the loan depends on the capital availability in the publicly funded platforms that provide flash loan services. The fees involved in this type of loans are very low (0.09% on Aave).