#BEL/USDT Technical Analysis Approaching Critical Resistance Level
$BEL
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Currently, BEL/USDT is trading around $0.4966. The nearest resistance levels are at $0.5200 and $0.5500, while the closest support is in the range of $0.4500 to $0.4600.
The 200-period SMA for BEL/USDT is currently at $0.4356, with the price having moved above this level, suggesting a potential bullish continuation. The RSI stands at 60.70, indicating that while the price is approaching the overbought zone, there is still room for further upward movement. Additionally, the MACD is showing a positive histogram, which signals strong bullish momentum and the potential for continued upward movement in the short term.
Bullish Scenario:
If BEL/USDT can break through the resistance at $0.5200 and sustain above this level, the next potential target would be $0.5500. This breakout could signal a strong continuation of the uptrend.
Bearish Scenario:
If the price fails to break through resistance and falls back below the support at $0.4500, the bearish trend may continue, with the next support target around $0.4356, which is also the level of the 200-period SMA.
Disclaimer:
This analysis is provided for educational purposes only and does not constitute financial advice. Please conduct your own research before making any investment decisions.
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AAVE (AAVE)
With a market cap of $2 billion, the AAVE token has increased by 21% in the last seven days. Currently, the AAVE token is trading at $133 with an intraday pullback of $1.29.
Further, the AAVE token price
The DeFi token is in a retest phase and ready to bounce back with increased momentum. Optimistically, the Fibonacci level paints the $206 as a potential target, aligning with the 1.618 level.$AAVE
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2024
Tron Memecoin Deployer âSunPumpâ Surpasses $1M Revenue in Just 11 Days
SNEAK PEEK
âą SunPumpâs rapid success brings over $1.1M in revenue within 11 days on the Tron blockchain.
âą Tronâs ecosystem benefits as SunPump boosts liquidity and attracts $10M in incentive support.
âą Debate continues over memecoin value despite SunPumpâs impact on Tronâs recent revenue surge.
A new memecoin deployer on the Tron blockchain, SunPump, has achieved significant revenue in a short span, generating over $1.1 million in just 11 days since its launch. The platform, backed by Tron founder Justin Sun, has seen a substantial influx of liquidity, marking a notable success in the rapidly evolving memecoin sector
SunPump officially went live on August 9 and immediately got a great start within the TRON ecosystem. According to the numbers on the web analytics platform Dune, it has grossed a total revenue of 7 million Tron (TRX).Â
The peak day for SunPump was on August 20, when it earned nearly 2.78 million TRX, equivalent to $400,000. Over 6,000 memecoins have been created on the platform, reflecting the growing interest in the Tron-based memecoin market.
On August 20, SunPump experienced a temporary outage due to an unexpected surge in traffic. Justin Sun addressed the issue on social media, stating that the developers were working to scale up the platformâs capacity. The service was restored within an hour, allowing users to continue their activities.
The launch of SunPump has had a positive impact on the Tron blockchain, with liquidity flowing into the network. This growth has been further supported by a $10 million allocation from Sunâs Meme Ecosystem Boost Incentive Program.Â
Additionally, Tether, a major stablecoin issuer, minted another 1 billion USDT tokens on the Tron blockchain on August 20, further enhancing the networkâs liquidity.
The currencyâs data from DefiLlama reveals considerable growth, and Tron has obtained a total revenue of $2. 700 million it attracted in the prior 24 hours, which was a doubling of $350 million.
Russia Plans to Launch Crypto Exchanges & BRICS Stablecoin
Russia is moving forward with plans to launch two crypto exchanges, one in Moscow and another in St.
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Petersburg, to enhance foreign economic activity (FEA). Additionally, Russia aims to develop a BRICS stablecoin linked to the Chinese Renminbi (RMB).
These new crypto exchanges are designed to create a fresh platform for digital transactions. However, experts have raised concerns about the potential risks and limitations, especially considering the current international sanctions.
Russia's Push to Develop Its Crypto Sector
According to a report by Kommersant, one of the exchanges will likely utilize the infrastructure of the St. Petersburg Currency Exchange (SPCE) to facilitate foreign economic activity. The other platform is expected to be based in Moscow, though it's still unclear whether it will build on the existing Moscow Exchange or operate as a separate entity within an experimental legal framework.
The primary goal of these exchanges is to create and use stablecoinsâa type of cryptocurrency typically pegged to assets like a national currency or a basket of currencies. The Russian government is reportedly considering developing stablecoins linked to the Chinese Yuan (RMB) and the BRICS currency basket.
This initiative aims to strengthen economic cooperation among BRICS nations (Brazil, Russia, India, China, and South Africa) as they explore dedollarization through crypto and blockchain technologies. However, the introduction of a BRICS stablecoin through these new exchanges faces several challenges.
Oleg Ogienko, CEO of BitRiver, highlighted the technological difficulties in integrating stablecoins into Russiaâs blockchain infrastructure.
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Donât Dwell on the Past: Find the Next 100x Memecoin đ
When it comes to memecoins, one of the biggest mistakes investors make is looking in the rearview mirror instead of focusing on whatâs ahead.
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Take $WIF, for instance. It surged over 1000x, reaching a $40M market cap, and many thought theyâd missed the opportunity. But hereâs the twistâ$WIF didnât stop there. It went on to deliver another 100x!
If youâre feeling like the ship has sailed, ask yourself these key questions:
Whoâs still holding onto their tokens?
The reality? Probably fewer than 0.1% of early investors. Most have already taken their profits at 2x-5x, leaving plenty of room for future growth. đ
Evaluate the liquidity:
Have the whales made their move, or is there still space for them to dive in? Memecoins often have low liquidity, so if youâre a big player, you might need to wait until the market cap hits tens of millions to avoid driving the price up too quickly. đ°
Consider the potential:
Aiming for a $300M market cap? Then does it really matter if youâre buying in at $100M or $40M? A surge to $100M is often just the start, not the finish line. đ
Remember, itâs not about where a memecoin has been; itâs about where itâs going. Donât let past performance cloud your judgment of future opportunities. Stay ahead of the curve, think big, and you could be part of the next 100x success story.
#BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
In the midst of the volatility and turmoil in the cryptocurrency market, Coinbase terminates over 60 employees
SNEAK PEEK
âą The institutional onboarding and recruiting departments at Coinbase will lose more than 60 employees.
âą Coinbaseâs most recent round of layoffs is a sign that the exchange may still be trying to cut costs in the ongoing bear market.
âą The layoffs at Coinbase also came just five months after the exchange fired 18% of its employees to get ready for what it called a potential âlong crypto winter.â
Coinbaseâs CEO, Brian Armstrong, previously said that the company had âoverhiredâ and had to reduce its employees. In June, Coinbase also stopped hiring new employees and revoked any employment offers it had already made to potential employees. Some of these employees subsequently vented their frustrations online.
Given that its quarterly revenue is down 28% and trade volumes plummeted 27% in Q3 of this year, Coinbase does seem to be having trouble in the current bear market. The price of Coinbaseâs stock has decreased by roughly 80% this year and 27.4% just this month.
Even if it wasnât quite as surprising as Metaâs decision to fire over 11,000 workers a few days earlier. Others uploaded their names to a candidate database that Coinbase established in an effort to aid people in finding work at other businesses.
Surojit Chatterjee (the exchangeâs chief product officer) recently left the company after three years of extortion against Google for a whopping $646 million in compensation. According to a Coinbase filing with the SEC, Chatterjee is taking a break and will work as Armstrongâs advisor until at least February 2023.
Uniswap (UNI)
With a bullish reversal from the $5.368 support level, the Uniswap token is back in action. The DeFi token has increased by 29% in the last 18 days. The reversal rally surpasses the 23.60% Fibonacci level at $6.487.
Currently, the uptrend is challenging the confluence of the 50-day exponential moving average and the 38.20% level at $7.294. With a rounding reversal, the underlying momentum showcases a potential trend reversal.
Furthermore, the DMI indicator supports the bullish narrative with a potential crossover in the VI lines. However, the downtick in the ADX line reveals a weakness in trend momentum.
Considering the uptrend continues, the Uniswap token price can challenge the 50% line at the $8 resistance level. Optimistically, the uptrend shows potential to reclaim the $10 psychological mark at the 78.60% level.$UNI
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VIDT/USDT Exhibits Strong Bullish Momentum Amid Key Resistance Test
$VIDT
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#VIDTUSDT is currently trading at $0.03733, showing a strong upward movement of 1.69%. The price has sharply risen above the 200-period SMA, currently at $0.01871, indicating a significant bullish momentum. The immediate resistance level is around $0.04000, while support can be found near $0.03390, which is also aligned with the VWAP level.
Moving Average (MA): The price has sharply moved above the 200-period SMA, signaling a possible trend reversal and strong bullish momentum.
RSI: The RSI is at 89.06, indicating that the market is currently overbought and there might be a potential for a pullback or consolidation.
MACD: The MACD shows a strong positive histogram, which confirms the current bullish trend with a potential for further upside movement in the short term.
Bullish Scenario:
If VIDT/USDT can sustain above the $0.03733 level and break through the resistance at $0.04000, it could signal a continuation of the bullish trend. The next potential target for the bulls would be around $0.04500.
Bearish Scenario:
If the price fails to break through the resistance and falls below the support at $0.03390, it could indicate a bearish reversal, with the price potentially testing the lower support levels around $0.02500.
Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always perform your own research before making any investment decisions.
#6thTrade #MarketSentimentToday #Market_Update #BecomeCreator
Amadon on Glitch Art, Activism and LG Art Lab Debut
In this episode, artist Amadon shares his transformative journey from graffiti to digital art. He recounts the intense story behind his controversial âNo Riotersâ piece, which sparked international attention and an arrest warrant in Hong Kong. Amadon dives into his passion for using art as a tool for protest and social change, highlighting the importance of privacy and freedom in the digital age.
Amadon also discusses his groundbreaking collaboration with LG Art Lab, âPassive Observer,â where heâs poised to push the boundaries of digital art distribution. He offers insights into why now is the perfect time for artists to create, despite market challenges, and how his multi-chain innovations are reshaping the future of the art world.
Presented in partnership with LG Art Lab.
Near Protocol (NEAR)
With a market cap of 4.995 billion, the NEAR protocol is the biggest AI and big data token in the crypto market. On the verge of hitting the $5 billion mark, the NEAR token price has increased by 5.59% in the last 24 hours and 10.64% in 7 days.
Currently, the NEAR token is trading at $4.58 and reveals a streak of 3 bullish consecutive candles. In the recent bull cycle, the AI token has increased by 15% over the last five days.
The NEAR token will challenge the 23.60% Fibonacci level at $4.782. The overhead resistance is in confluence with the dynamic 50-day EMA. Furthermore, the recent death cross between the 50 and 200-day EMA has a bearish influence on the NEAR price trend.
However, the ongoing recovery rally with the bullish crossover in the MACD indicator suggests a breakout rally shortly. With the potential breakout, the NEAR token price could hit the 50% Fibonacci level at $6.190 with the $7.71 or 78.60% level on the radar.$NEAR
{spot}(NEARUSDT)
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Cloud-Native Gaming on Smart TVs: Aethir and Return Entertainment Alliance
Aethir and Return Entertainment have teamed up to offer cloud-based gaming experiences in your living room. This collaboration aims to provide cinematic scalable gaming adventures on TVs by leveraging Aethirâs GPU cloud infrastructure and Return Entertainmentâs streaming platform.
This partnership between Aethir, known for its enterprise-grade GPU services, and Return Entertainment, a player in cloud-native gaming, brings a unique solution to the table. Beyond catering to gamers, this alliance benefits streaming services, smart TV manufacturers and gaming studios. Together, they hope to craft a gaming experience thatâs easily accessible, highly scalable and cost-efficient.
The Technology Driving Innovation
The technology powering this collaboration could revolutionize the gaming landscape. Aethirâs decentralized GPU cloud infrastructure boasts a fleet of NVIDIA H100 Tensor Core GPUs in the Web3 domain that provide the power for top-quality games.
This setup enables Return Entertainment to handle the cloud work so gamers can enjoy premium games with just a basic yet stable internet connection.
Recently introduced on Samsung TVs in the US, Return Entertainment debuted with their game titled Rivals Arena. Whatâs cool about this platform is that it works with a variety of smart TVs, and you can use your smartphone as a controller by simply scanning a QR code. This makes gaming super accessible, especially considering there are nearly a billion smart TVs worldwide not currently connected to gaming consoles.
âAethir is dedicated to democratizing access to high-end gaming,â said Daniel Wang, CEO of Aethir. âThis integration with Return Entertainment represents a significant milestone in our mission to advance cloud gaming technologies.â
With the demand for gaming experiences projected to increase by 14% by 2027, the collaboration between Aethir and Return Entertainment is setting the stage for a new era in gaming.
Smart TVs and Web3 Gaming
Filecoin (FIL)
With a market cap of $2.32 billion, the Filecoin price has increased by 12.34% in the last seven days. In the last 24 hours, the FIL token has increased by 4.74% and has a 24-hour trading volume of $100 million.
Currently, it is trading at $4.00 and reveals a bullish cycle in motion. In the daily chart, the FIL token showcases a series of 5 consecutive bullish candles, resulting in a potential trendline breakout.
With this trendline breakout, Filecoin will suspend the long-coming downtrend over the past five months. Currently, the Altcoin is challenging the 50-day exponential moving average as it slightly exceeds the overhead resistance trendline.
A bullish sustenance above the 50-day EMA will increase the likelihood of a breakout rally. Based on the Fibonacci levels, an extension above the 23.60% level at $4.36 will increase the chances of Filecoin hitting the 61.80% level at $7.00. Hence, the upside potential in Filecoin is shortly at 78%. $FIL
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Solana ($SOL /USDT) Technical Analysis
Current Price: $144.16
Pattern: Descending Channel
Solana is currently trading within a descending channel, which indicates a bearish trend. The price is moving within the boundaries of this channel, signaling that the market is likely to continue this trend unless a breakout occurs.
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Breakout Possibilities:
Bearish Continuation:
If Solana remains within the descending channel and continues to respect the resistance at the upper boundary, we could see a continuation of the downtrend. The price might drop towards the lower boundary of the channel, with potential targets at $140.00 and $137.50.
Bullish Breakout:
A break above the descending channel could indicate a potential reversal in trend. If Solana breaks out above the channel, it could target higher levels around $148.00 and $150.00. Traders should watch for a confirmed breakout above the $145.50 level to consider entering long positions.
This analysis highlights the key levels and scenarios to watch for in the current trading environment for Solana, providing a clear guide for potential trading opportunities based on the breakout of the descending channel.
#BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
Massive Ethereum Outflow from Coinbase Raises Questions
On August 23, 2024, at 06:00 AM local time, Coinbase witnessed a significant outflow of 681,318 Ethereum, marking the largest movement of the year. During this period, a net total of 296,355 Ethereum, valued at approximately $781 million, exited the exchange.
Despite no current evidence linking this outflow to Spot Ether ETFs, Ethereum's MVRV score of 1.32 suggests that institutional investors may be anticipating a price increase. This substantial movement is unlikely to be driven by individual investors, indicating that large institutional players or whales are likely behind the transactions.
Further updates will follow as more information becomes available.
Successful Breakout in #metis/usdt : Capitalizing on a Strong Bullish Momentum with 1:2 Risk Reward Ratio
$METIS
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The METIS/USDT trading pair has shown a strong bullish breakout, as depicted in the 4-hour chart. After a period of consolidation around the $32.89 level, the price successfully broke above the resistance at $34.53, reaching a high of $38.77 before pulling back slightly to $35.56. This movement highlights a well-structured trade with a favorable risk-reward ratio.
The red zone around $32.89 to $34.53 represents the risk area, where traders would have set their stop-loss levels. The breakout above $34.53 triggered a sharp rally, with the price quickly advancing into the green reward zone, offering a reward that significantly outweighs the initial risk.
The breakout was accompanied by an increase in trading volume, which further validates the strength of this upward move. The Ichimoku Cloud also indicates a bullish trend, with the price moving decisively above the cloud after the breakout.
For traders who executed this plan, the move from the consolidation phase to the breakout and subsequent rally represents a textbook example of a successful trade setup. The key support level now lies at $34.53, which could act as a strong base for further upside if the price retests this level.
Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always perform your own research before making any investment decisions.
#6thTrade #MarketSentimentToday #BecomeCreator #Market_Update
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Bitcoin Transaction Fees Surge 10x Amid Network Demand Spike
The sharp increase was primarily driven by heightened network demand.
Bitcoin transaction fees skyrocketed on August 22, with the average cost per transaction surging by a staggering 937.7%, rising from $0.74 to $7.679.
The sharp increase was primarily driven by heightened network demand, a significant shift from the relatively stable fees that had been observed since July.
Until mid-August, Bitcoin transaction fees had consistently remained below the $2 mark, reaching as low as $0.558 on August 18.
Lower Fees Led to Reduced Miner Revenues
While low fees made Bitcoin transactions more accessible to the general public, they simultaneously threatened to reduce minersâ revenues, as lower fees translate to lower earnings for miners who validate transactions on the network.
The sudden spike in fees on August 22 was linked to an overwhelming demand for network bandwidth, which led to a substantial increase in the cost of sending and receiving Bitcoin.
$BTC #Laraxen #LaraxenFamily #Laraxenteam
{spot}(BTCUSDT)
Krakenâs Legal Battle in Australia âïž
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Krakenâs Australian subsidiary, Bit Trade, has recently found itself at the center of a legal storm. The company has been found in violation of local laws related to product offerings and the provision of credit facilities. This court ruling could have far-reaching consequences, not just for Kraken's operations in Australia, but potentially for its global business as well.
The legal challenges highlight the growing scrutiny that cryptocurrency exchanges face as regulators worldwide tighten their oversight of the industry. For Kraken, this could mean changes to how it operates in Australia, including potential modifications to its product offerings and financial services.
The outcome of this legal battle may also serve as a precedent, influencing how other crypto exchanges conduct their business in markets with strict regulatory environments.
As the situation unfolds, all eyes are on Kraken to see how it will navigate these legal challenges and what this means for its future in the Australian market.
#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #BinanceBlockchainWeek #BlackRockETHOptions
URGENT UPDATE ON $ALPACA, $TRB, $PEPE:
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1ïžâŁ ALPACA:
ALPACA is seeing a strong surge of 9.86%, now trading at 0.2462. To maintain this upward momentum, it needs to break above 0.25 and close above 0.26. If successful, more gains could follow. However, failing to hold this momentum may lead to a correction.
2ïžâŁ TRB:
TRB is showing an impressive increase of 19.43%, reaching 67.81, driven by significant buying pressure. To continue this rise, TRB must break above 70 and close above 72. If it achieves this, further gains are likely. On the other hand, if it fails to overcome the resistance level, it may enter a consolidation phase.
3ïžâŁ PEPE:
PEPE is experiencing a moderate increase of 2.77%, now trading at 0.00000817. To build on this trend, PEPE needs to break above 0.000009 and close above 0.00001. Success could lead to further growth, while failure to break the resistance might slow the momentum.
KEY LEVELS TO WATCH:
- ALPACA: 0.24 (support), 0.25 (resistance)
- TRB: 65 (support), 70 (resistance)
- PEPE: 0.0000075 (support), 0.000009 (resistance)
#CryptoMarketMoves #MtGoxRepayments #writetoearn #pepe⥠#TRB_UPDATE
#MarketSentimentToday $BTC Bitcoin's price today (August 23, 2024) is approximately $61,075.00 USD with a 24-hour trading volume of $25,953,527,459 USD. đ
This represents a slight increase of 0.09% from yesterday's closing price. đ€
The overall market sentiment for Bitcoin seems to be cautiously optimistic, as indicated by the modest price appreciation and increased trading activity.đ
However, it's important to note that cryptocurrency markets are highly volatile, and sudden price swings are not uncommon. Therefore, investors should be prepared for potential đ„fluctuations and exercise caution when making investment decisions.
#bitcoin #BinanceSquareCreatorAwards
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$PEPE is gaining momentum and could be on the verge of breaking through key resistance levels. After recently escaping a descending channel, the coin surged 11% following its listing on the Upbit exchange. Now, all eyes are on $PEPE as it approaches the 20-day EMA, signaling a potential upward trend.
The technical analysis paints a promising pictureâPEPE has been climbing steadily since February, smashing through both horizontal and diagonal resistance barriers. If this bullish trajectory continues, we could see even more impressive gains on the horizon.
#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
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