The BEAMX/USDT pair is trading at $0.01571, currently above the 200-period moving average (MA) of $0.01544 and also above the Volume Weighted Average Price (VWAP) of $0.01530. The price being above both the 200-MA and VWAP suggests a bullish sentiment in the short term. $BEAMX
{spot}(BEAMXUSDT)
{future}(BEAMXUSDT)
VWAP: At $0.01530, slightly below the current price, indicating some buying pressure as the price has managed to stay above this level. This supports a bullish outlook for the short term.
Relative Strength Index (RSI): The RSI is at 58.68, which is approaching the overbought territory but is still within the neutral zone. This suggests that there is room for further upward movement but caution is warranted if it reaches overbought levels (above 70).
Moving Average Convergence Divergence (MACD): The MACD line is slightly above the signal line, and the histogram is in positive territory. This indicates a bullish momentum that could continue if sustained.
Key Levels to Watch:
Resistance Levels:The immediate resistance level to watch is around $0.01577. A breakout above this level could lead to further upward movement toward the next resistance at $0.01771.Support Levels:On the downside, the key support level to watch is around $0.01509. A drop below this level could lead to further declines towards the next support zone near $0.01400.
There is a potential continuation pattern forming, suggesting that if the price stays above the $0.01553 support and breaks above the $0.01577 resistance, we could see a continuation of the recent bullish trend.
Disclaimer: The information provided in this analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are volatile and carry a high risk. Always perform your own research before making any investment decisions.
#6thTrade #BinanceBlockchainWeek #Market_Update #BEAMX
**OpenAI Eyes Investor-Friendly Revamp Amid $100B Valuation Talks**
OpenAI is reportedly considering a shift to a more investor-friendly corporate structure. The AI firm, valued at over $100 billion, is in talks about removing its "capped for-profit" status, which currently limits investor profits.
- **Funding Round**: Thrive Capital may lead a $1 billion investment, with Microsoft, Apple, and Nvidia also in the mix.
- **Current Structure**: OpenAI operates both as a non-profit and a capped for-profit entity, balancing profit with its mission.
- **Potential Changes**: Removing profit caps could attract more investors but raises questions about maintaining its non-profit goals.
Stay tuned as OpenAI navigates these potential changes.
**Crypto Biz Weekly: Arrests, Earnings, and ETFs!**
- **Telegram Drama**: Telegram CEO Pavel Durov was briefly a guest of the French authorities, charged with a laundry list of crimes. Released after four days, Durov's arrest has sparked a global investigation into Telegram's operations. đ
- **OpenSea's Legal Waves**: The NFT giant received a Wells notice from the SEC, hinting at potential legal turbulence. Stay tuned as the digital art world braces for impact.
- **Nvidia's AI Boom**: Nvidia's Q2 earnings hit $30 billion, smashing expectations and setting the AI sector abuzz. Investors are riding high on projections for even more record-breaking revenues.
- **Rhodium's Rough Patch**: Bitcoin miner Rhodium Enterprises filed for bankruptcy, listing debts between $50M-$100M. It's a rocky road ahead for the mining firm.
- **SxT Labs' Big Raise**: Blockchain database firm SxT Labs secured $20M in Series A funding, bolstering its proof-of-SQL tech. The future looks bright for data integrity!
- **BlackRock's Brazilian Bet**: BlackRock launched an Ether ETF in Brazil, expanding crypto investment options in the country. Local investors now have 15 crypto-tied products to choose from.
Stay tuned for more blockchain buzz!
**Crypto News Flash: Major Developments Rock the Industry**
**Telegram CEO Arrested and Released in France**
- Telegram CEO Pavel Durov was arrested in France, charged with complicity in illegal activities, including money laundering and providing cryptology services without prior declaration.
- Released after four days, his arrest has sparked a new investigation into Telegramâs operations in India, raising global business concerns.
**OpenSea Faces Legal Challenges**
- OpenSea, a leading NFT marketplace, received a Wells notice from the US SEC on Aug. 28, indicating potential legal issues ahead, which could impact the digital art market.
**Nvidiaâs Record-Breaking Q2 Earnings**
- Nvidia announced Q2 earnings of $30 billion, surpassing expectations by $2 billion.
- Projections for Q3 are even higher, driven by GPU sales and strong performance in data services, particularly in China.
**Rhodium Enterprises Files for Bankruptcy**
- Bitcoin miner Rhodium Enterprises filed for Chapter 11 bankruptcy in Texas, with debts between $50 million and $100 million.
- The filing includes six subsidiaries, reflecting ongoing financial distress.
**SxT Labs Secures $20 Million in Funding**
- Blockchain database firm SxT Labs raised $20 million in a Series A round led by Framework Ventures.
- The funds will accelerate the development of their proof-of-SQL technology.
**BlackRock Launches Ether ETF in Brazil**
- BlackRock has introduced an Ether ETF in Brazil, trading under the ticker ETHA3.
- This adds to Brazilâs growing list of crypto-tied investment products, including the upcoming Solana-based ETF.
Stay tuned for more updates in the ever-evolving world of crypto and finance!
Navigate Volatility with Bollinger Bands
Bollinger Bands are a must-have tool for traders and investors looking to confidently navigate the market's ups and downs. Developed by John Bollinger in the 1980s, this technical analysis staple helps you measure volatility, spot trends, and anticipate price reversals with just three simple lines on a chart.
Hereâs how they work: the middle line is a simple moving average, while the upper and lower bands are set two standard deviations away from this average. When the price touches or moves outside these bands, it can signal overbought or oversold conditions, hinting at a potential price reversal. Additionally, the bands expand and contract based on market volatility, offering a visual cue to the market's mood.
Imagine youâre trading Bitcoin, and the price repeatedly hits the upper band. This suggests a strong uptrend, making it a potential buying opportunity. Conversely, if the price lingers near the lower band, it could indicate an oversold condition, possibly signaling it's time to sell.
In the highly volatile world of cryptocurrency, Bollinger Bands are especially valuable. They help you manage risk and make informed decisions based on historical price data. While no tool is foolproof, Bollinger Bands offer crucial insights to keep you ahead in the trading game.
#EDUCATIONAL_POST
**Whales and Sharks: Bitcoin's New Best Friends đ**
- Bitcoin's been chilling in the $55,724 to $73,777 range, but instead of freaking out, big players (whales and sharks) are gobbling up more BTC. đł
- Santiment reports wallets with 10-10K BTC have added 133.3K coins, while smaller traders are dropping theirs.
- BTC reserves on exchanges have dropped by 12.9% this year, hinting at long-term bullish vibes.
- The U.S. government holds 203,000 BTC, which could affect prices if they decide to sell.
- Will BTC break $60K? Stay tuned!
đ Bitcoin Whales Go on a Shopping Spree! đ
While Bitcoin's been chilling in the $55,724 to $73,777 range, the big fish are making waves! Whales and shark holders have scooped up 133.3K BTC, thanks to impatient smaller traders. đŠ
CryptoQuant data shows BTC reserves on exchanges have dropped by 12.9% this year, hinting at long-term bullish vibes. But watch out! The US government holds 203,000 BTC, and any selling could shake things up.
Will BTC break $60K? Can altcoins ride the wave? Share your thoughts below! đ
#Bitcoin #CryptoTrends #MarketAnalysis
According to Arkham data, in the past 6 hours, an address marked as Arbitrum has cumulatively deposited 50,000 ETH, worth over $125 million, into a suspected Binance deposit address (0xE69...Abb). On-chain analyst @EmberCN believes that this is Binance conducting a cross-chain transfer from Arbitrum to Ethereum. The address 0xE69...Abb is a commonly used cross-chain address by Binance, frequently used for cross-chain allocation of assets such as MATIC, ETH, USDC, STG, etc.
**Crypto Market Update: Bitcoin and Altcoins in Focus**
Bitcoin (BTC) has been trading in the lower half of its $55,724 to $73,777 range recently. Instead of panicking, large holders, known as whales and sharks, have been accumulating more BTC. Over the past month, wallets holding 10-10K BTC have added 133.3K more coins, according to Santiment.
Another bullish sign is the decline in Bitcoin reserves on exchanges, down 12.9% since the start of the year, indicating long-term investor confidence. However, potential selling by the US government, which holds over 203,000 BTC, could impact prices.
Ethereum (ETH) and other major altcoins like BNB, Solana (SOL), XRP, and Dogecoin (DOGE) are also showing mixed signals. While some are facing resistance at key levels, others are testing critical support zones.
Investors are advised to stay cautious and conduct thorough research before making trading decisions.
đ **Crypto Market Update: Bitcoin Dips, DTX Exchange Soars!**
- Bitcoin falls below $60,000, dragging Solana and Toncoin down.
- Toncoin hit by Telegram CEO Pavel Durov's arrest, struggles to break $6.
- DTX Exchange steals the spotlight, surpassing $2M in presale funding.
- DTX aims to revolutionize trading with diverse financial instruments.
- Solana shows potential for a comeback despite recent dips.
đŹ What are your thoughts on DTX Exchange's potential? Share in the comments!
Disclosure: This article does not represent investment advice.
UPDATE: Snapshot for $CAT Airdrop to $FLOKI Holders Completed
We would like to announce that the snapshot for the $CAT airdrop to $FLOKI holders has been completed.
As communicated in previous announcements, the snapshot for FLOKI holders on Binance was taken at 23:59:59 UTC on August 29, 2024 while the final snapshot for on-chain holders was taken at the same time.
We are actively coordinating with the Binance team to confirm the timing of the CAT airdrop distribution, as the on-chain airdrop will happen around the same time. The distribution is expected to take place in ~2 weeks, but the final timing of the distribution will by determined by (and in alignment with) Binance.
Eligibility
To confirm your walletâs eligibility for the airdrop, please use the official Floki Airdrop Eligibility Checker at:
https://t.co/tvuCwtlMvd.
NOTE: You do NOT need to connect your wallet to this website (or ANY website for that matter!) to check your eligibility or get your airdrop. You simply need to paste a wallet address to see if it is eligible. Tokens will be airdropped directly to your wallet address at the time of distribution AT no cost to you. You would NOT be required to connect your wallet anywhere to claim the airdrop. The Floki Airdrop Eligibility Checker is only for on-chain Floki holders: Binance will airdrop users of the Binance exchange directly to their Binance wallets. We will publish an official announcement once this is done.
The same terms and conditions we announced prior to the snapshot remain.
We released the Floki Airdrop Eligibility Checker well in advance of the airdrop to allow users to check and see if they are eligible for the airdrop. If you have any complaints related to your eligibility for the airdrop, please forward them to hi@floki.com prior to the airdrop distribution. Disputes reported after the airdrop will not be addressed.
We will never DM you first or request your private keys or wallet seed phrases.
Price analysis 8/30: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB