$DCR /USDT
**Mastering Support and Resistance in Trading: A Crucial Skill**
In the world of trading, identifying key levels known as support and resistance is crucial for making informed decisions. Support is a price level where a security tends to find buying interest, preventing it from falling further. Conversely, resistance is where selling pressure typically emerges, capping upward price movement.
Spotting these levels is essential for traders aiming to predict price behavior. Support levels are often identified by observing past lows, while resistance is found by noting previous highs. When prices approach these levels, traders anticipate either a bounce (off support) or a breakout (through resistance), both of which can offer profitable opportunities.
However, support and resistance are not absolute; they can evolve with market conditions. A former support level can become resistance after being broken, and vice versa. This dynamic nature requires traders to continuously adapt their strategies.
Incorporating support and resistance analysis into your trading approach enhances your ability to make more calculated decisions, manage risks effectively, and optimize your trading outcomes. Mastery of this skill, combined with other technical analysis#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
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đ Russiaâs Crypto Revolution is About to Unfold! đ·đș
Brace yourselves, crypto lovers! Russia is on the verge of a major financial shake-up that could change the global landscape. Next week, they're taking a bold step to integrate #cryptocurrency into international transactions, effectively sidestepping Western sanctions like never before. đđ„
Picture this: #Bitcoin and other digital assets becoming key players in Russia's trade strategy, offering a decentralized and resilient alternative to traditional finance. This isn't just a ripple; it could be a tsunami that rocks the economic world! đđ°
So, what does this mean for you? A new chapter of financial independence may be on the horizon, with global crypto adoption potentially skyrocketing. Or, could this move ruffle international feathers? đ€
Keep your eyes on the prize as this unfolds. Russiaâs bold action could mark a turning point for #blockchain technology and global trade. And remember, this might trigger big waves in the CryptoMarkets, so stay ready and keep those trading strategies sharp! đđ„
#Write2Earn! #CryptoRevolution #GlobalFinance #TradeStrategy #FinancialFreedom $DOGS $TRX $TON
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đ **Crypto News Flash: Tron & Toncoin Surge in Active Addresses!**
- **Tron (TRX)** saw a 13% rise in daily active addresses, hitting 2.56M! Total non-zero TRX addresses now at 110.78M.
- **Toncoin (TON)** skyrocketed with a 79% increase, reaching 2.23M daily active addresses. Non-zero TON addresses are at 43.82M.
đ Despite the surge, both tokens show bearish on-chain signals:
- **TRX**: Down 2.8%, trading at $0.16.
- **TON**: Down 4.6%, trading at $5.38.
đŹ What do you think about these trends? Share your thoughts in the comments!
đ Despite the buzz around spot ether ETFs, the crypto market has faced challenges since their U.S. launch on July 23, Citi reports. Spot bitcoin and ether ETFs saw net outflows this past month, with demand drying up and futures funding rates dipping into the negative in August.
đ Interestingly, stablecoins have been the exception, continuing to grow even as other digital assets struggle. Could stablecoins be the steady ship in turbulent crypto waters?
đŹ What do you think is driving the stablecoin resilience? Share your thoughts below! #Crypto #Stablecoins #ETFs
đ Despite the crypto market's recent rollercoaster ride, there's still a silver lining! đ
1/ Citi reports that spot Bitcoin and Ether ETFs have seen net outflows recently. But hey, who needs ETFs when you've got memes, right? đ
2/ The real MVPs? Stablecoins! Their market caps are growing like weeds in a garden. đż
3/ Futures funding rates dipped negative in August, but don't fret! The market's just catching its breath. đïžââïž
4/ Until the U.S. economy decides on a "soft-landing vs. hard-landing," expect some turbulence. Buckle up, folks! âïž
What are your thoughts? Drop a comment below! đ
đ **Nexonâs Blockchain Arm Launches NXPC Token for Web3 Game!** đź
- South Korean game developer Nexonâs blockchain subsidiary, NEXPACE, has unveiled the NXPC token to boost user engagement in its web3 game, MapleStory Universe.
- Built on the Avalanche blockchain, NXPC allows players to contribute directly to in-game content creation, traditionally a developer's role.
- This move aims to foster community-driven growth and interaction with in-game items.
- Nexonâs previous crypto ventures include a $100M Bitcoin purchase.
đŹ What do you think about community-driven game development? Share your thoughts below!
$DOGS TOKEN TOOK A MAJOR HIT âŒïž
Falling 30% to $0.00131 right after its big Binance listing on August 26, 2024 - Even with the excitement from International Dog Day and a successful airdrop, the tokenâs price dropped significantly, making many question whatâs next âŒïž
The $DOGS token has strong liquidity, with 93.95% of its total supply already in circulation - The airdrop was a hit, drawing millions of participants
Binance also took steps to freeze accounts that were unfairly taking advantage of the airdrop, showing their commitment to a fair process
$DOGS is unique because itâs linked to Telegram, using the appâs popularity to gain traction - This has led to comparisons with successful meme tokens like Dogecoin and Shiba Inu
Even with initial hopes of the price rising to $0.002 or more, the recent sharp drop has made the future uncertain - As trading continues, everyone is watching to see if $DOGS can bounce back or if it will keep struggling
[Please CLICK Here & VOTE](https://app.binance.com/uni-qr/cpro/Hamid)
COMING MONTHS WILL BE SUPER GREEN FOR $DOGS HOLDERS IMO đđ»đ„
#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #hamidarmy #Babylon_Mainnet_Launch
Toncoin Price Prediction: Can Bulls Defend the $5.37 Support Level?
The recent action of the #Toncoin price on the 4-hour chart reflects a market that is currently navigating through bearish territory. Over the last several trading sessions, the Toncoin price has consistently closed lower, indicating a prevailing downtrend. The sequence of lower highs and lower lows underscores the bearish momentum that has taken hold of the market, with closing prices declining from $5.631 to a recent low of $5.401.
Exponential Moving Averages (EMAs) are signaling continued bearish pressure. The 9 EMA is currently below the 20 EMA, a configuration that typically indicates short-term weakness. This crossover suggests that sellers are maintaining control, and any rallies may be met with resistance.Â
The Moving Average Convergence Divergence (MACD) further corroborates the bearish outlook. The MACD line has been consistently below the signal line, with the histogram showing negative values. This alignment suggests that the bearish momentum is likely to continue unless a significant catalyst shifts market sentiment. However, it's worth noting that the MACD histogram has been narrowing, which could hint at a potential slowdown in the bearish momentum.
Meanwhile, the Relative Strength Index (RSI) has dipped into oversold territory, with readings consistently below 35. This condition often indicates that the Toncoin price may be due for a corrective bounce, as the selling pressure could be exhausting. However, the RSI alone isn't a reliable indicator for a trend reversal; it merely suggests that the downward momentum might be slowing.
The key support level to watch is around $5.373. A break below this level could see the Toncoin price retesting lower levels.
The first level of resistance comes in at $6.56, with stronger resistance around the $6.733 and $6.741 levels. $TON #TON The full analysis and trade strategy were posted on www.ecoinimist.com.
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In the run-up to Nvidia's Q2 results, AI tokens have seen massive weekly rises
After FET surged over 60%, a number of AI tokens took the lead in the cryptocurrency market with significant gains.
A good barometer of the state of the AI industry worldwide would be Nvidia's bottom line.
Profits per share for the second quarter are projected at $0.65, with sales of $28.7 billion.
With the market anticipating Nvidia's (NVDA) Q2 results on August 28, a number of AI tokens, such as FET, RENDER, and NEAR Protocol (NEAR), have seen substantial increases.
If Nvidia reports good profits, these AI coins can see more appreciation.
Ahead of Wednesday's expected release of Nvidia's Q2 results, artificial intelligence (AI) tokens were among the market's biggest gainers last week.
Leading the industry with gains of more than 61% in the 7-day period is Artificial Superintelligence Alliance (FET). RENDER's 36% gain puts them somewhat behind.
Additionally, there were significant increases of 21%, 14%, 19%, and 26% for NEAR Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), The Graph (GRT), and Akash Network (AKT), respectively.
The majority of these coins are down in value right now, but that might all change if Nvidia reports good Q2 results. On the other hand, short-term investors may choose to book gains if Q2 results fall short of forecasts, which might turn them pessimistic. Whenever NVDA made a big gain or released a nice update, AI tokens would often rally.
After the company's meteoric climb to trillion-dollar status, many investors look to it as a barometer for the health of the worldwide AI business, particularly crypto AI tokens. Experts in the market anticipate that Nvidia will post Q2 revenues of about $28.7 billion, a YoY rise of 112%, and adjusted EPS of around $0.65, a YoY gain of 139%.
#ai #Nvidia #CryptoMarketMoves $NEAR
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MYRO Update â Big Move Incoming đš
MYRO has entered an ascending triangle pattern after its latest (massive) drop. So, just as a refresher, between the end of July and the beginning of August, MYRO lost almost 60%.
Typically, an ascending triangle pattern is considered a bullish pattern. That means we should see a break to the upside at some point, followed by a sharp price increase.
If this happens, we could see the price again attacking 0.14-0.15.
So, again, watching the trend line is essential. Never enter too early and without confirmation!!
$MYRO
âCrypto Adoption Index 2024,â created by Henley & Partners, ranked countries according to their tax and regulatory approach to crypto.
1st â đžđŹSingapore has supportive banking system, significant investment, comprehensive regulations such as the Payment Services Act, regulatory sandboxes, and alignment with global standards.
2nd â đđ°Hong Kong has cultivated an environment that promotes the growth of the crypto industry through significant public interest, high business acceptance in the financial and tech sectors, and advanced digital infrastructure.
3rd â đŠđȘUAE has substantial portion of the population owning crypto, matched by strong government support and a thriving start-up scene. This low-tax jurisdiction offers an attractive environment for crypto businesses, further bolstered by a highly digitalized and wealthy population.
4th â đșđžUS has 15% of its population owning crypto, supported by strong infrastructure, including a high density of crypto ATMs, crypto-friendly banks, and an increasing number of businesses accepting cryptocurrency.
5th â đŹđ§UK has moderate public interest and growing bank integration, particularly among challenger banks. The country is highly digitalized, and virtually all citizens have banking access.