đąAt present, the long orders below have basically been liquidated, and we can no longer blindly chase short positions. We will not see a breakout today, but a rebound.đ
This chart appears to be an analysis of the Solana (SOL) to USDT trading pair on the Binance exchange, with data shown on the 1-hour timeframe. It indicates a key technical setup involving Fibonacci retracement levels and Elliott Wave theory, often used in market prediction.
- **Fibonacci Levels:** The chart highlights the 0.5 and 0.786 Fibonacci retracement levels, with price struggling to stay above 0.5, suggesting weakening bullish momentum. The level of 0.786 may serve as potential resistance if the price retraces upward.
- **Invalidation Level:** The red line labeled "invalid" around 164 seems to be a critical price point. If the price surpasses this level, the bearish outlook may be invalidated.
- **Bearish Projection:** The pink line shows a potential forecast for SOL's price, with several small waves downward, indicating a corrective phase. The ultimate target seems to be near 110 or lower, potentially marking a final wave (C).
- **Conclusion:** The analysis suggests a bearish outlook with further downside expected unless the invalidation level at 164 is breached, indicating a potential reversal.
đThe BLUM airdrop is a promotional event where the cryptocurrency token âBLUMâ is distributed for free to eligible participants. Airdrops like this are commonly used by blockchain projects to raise awareness, attract new users, and increase the tokenâs distribution. To participate, users typically need to fulfill certain criteria, such as holding a specific cryptocurrency, registering on a platform, or following the projectâs social media accounts.
đBLUM airdrops can be limited in quantity and time-sensitive, meaning only a certain number of tokens are distributed, and participants need to act quickly. The airdrop might also require participants to complete tasks like sharing posts or referring friends. Once received, the tokens can often be traded on exchanges or held in a cryptocurrency wallet, depending on the projectâs rules and the tokenâs liquidity.
đOverall, airdrops like BLUM provide koa way for projects to incentivize engagement and expand their user base while giving users the opportunity to earn free cryptocurrency.
đBinance offers a variety of earning methods for users looking to grow their crypto assets. Some popular options include:
đą1. Staking: Users can earn rewards by participating in staking, where they lock up a certain amount of their cryptocurrency in support of a blockchain networkâs operations. Binance offers both locked and flexible staking options, with varying levels of rewards depending on the cryptocurrency and staking duration. đą2. Savings: Binance Savings allows users to deposit their crypto into either flexible or fixed-term savings accounts. Flexible savings offer lower returns but allow users to withdraw their funds anytime, while fixed-term savings provide higher returns for locking funds for a specified period. đą3. Launchpool: Users can stake their crypto in Binanceâs Launchpool to earn new tokens from upcoming projects. This method allows users to participate in early-stage projects and earn new tokens before they are listed on the exchange. đą4. Liquidity Farming: Binance users can provide liquidity to various trading pairs in Binanceâs Liquidity Swap pools, earning a share of the trading fees and rewards. đą5. Dual Investment: This is a structured product where users can earn a high yield by subscribing to a product based on a target price and settlement date, providing potential gains in different market conditions.
đ„These methods provide different levels of risk and reward, making it essential for users to choose the one that best suits their investment strategy.âïž
đ·đșJust in :- Russia to start using Crypto for International transactions next week đ
âŠïžRussiaâs decision to start using cryptocurrency for international transactions is a significant development that could have several effects on the global crypto market.
âŠïžFirstly, this move could increase demand for cryptocurrencies, particularly for cross-border transactions. Russia, facing economic sanctions and limited access to traditional banking systems, may turn to crypto as an alternative means of trade. This could drive up the value of certain cryptocurrencies, especially those that offer privacy features and stable value, like Bitcoin or stablecoins.
âŠïžSecondly, it may accelerate global adoption of cryptocurrencies. Other sanctioned countries or those with unstable currencies might follow Russiaâs lead, further integrating crypto into the global financial system.
âŠïžHowever, this could also trigger regulatory backlash from countries concerned about the use of crypto to evade sanctions or engage in illicit activities. Stricter regulations could be imposed, leading to increased scrutiny and possibly affecting the market negatively in the short term.
âŠïžOverall, while this development could boost crypto adoption and demand, it also introduces geopolitical risks that could create volatility in the market.
As of late August 2024, the price of Ethereum (ETH) against USDT is around $2,762. Ethereum's price has experienced volatility, influenced by several key factors.
Firstly, broader market sentiment has been cautious, with the Fear & Greed Index indicating a level of "Fear" at 39, reflecting general uncertainty among investors. This sentiment has been exacerbated by ongoing concerns over regulatory actions, particularly in the United States, where cryptocurrency regulations remain uncertain.
Secondly, the recent fluctuations in Ethereum's price have been influenced by macroeconomic factors, such as the strength of the US dollar and changes in interest rates. The crypto market, including ETH, tends to react to these broader economic trends, leading to shifts in investor behavior.
Finally, Ethereumâs ongoing technological developments, including its transition to a Proof of Stake (PoS) consensus mechanism, continue to impact its market perception. While the transition is seen as a positive long-term move, short-term market reactions have been mixed due to concerns about network stability and scalability during the transition phase.
These factors combined have led to Ethereum's recent price movements, with both bullish and bearish forces at play .
The chart youâve shared is an analysis of Bitcoin (BTC) against Tether (USDT) on a 1-hour timeframe. It appears to follow Elliott Wave Theory, a popular technical analysis tool used to predict market trends by identifying wave patterns.
The chart shows several labeled waves (1-5 and A-E), indicating different phases of price movement. The price is currently in a corrective wave labeled as â(b),â following an impulsive wave (5). The projected movement suggests that the price will rise slightly to around 65,000 USDT before undergoing a significant decline. The highlighted yellow box likely represents a key resistance zone where the price may reverse or face selling pressure.
An âinvalidâ level is marked around 70,000 USDT, implying that the bearish scenario would be negated if the price exceeds this level. The pink line indicates the expected future price path, suggesting a downward trend below 57,000 USDT after the minor peak.
This analysis suggests a potential bearish outlook for Bitcoin in the near term, with significant resistance near the 65,000 USDT level.
ETH/USDT LONG đą Entry :- 2585-2500 LEVERAGE - 10 ( Isolated ) Tp 01 2615 Tp 02 2720 Tp 03 2870  đŽStop loss 2450 đŽ please use 5% on your capital.donât use stron capital