$MASK /USDT
To create a 200-word post about identifying support and resistance levels in trading:
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**Understanding Support and Resistance in Trading**
Support and resistance are critical concepts in technical analysis, helping traders to make informed decisions. Support refers to a price level where a downtrend can be expected to pause due to a concentration of demand. As prices fall, buyers become more inclined to purchase, forming a 'floor' that prevents the price from declining further. Conversely, resistance is a price level where a rising trend may pause due to a concentration of supply. As prices rise, sellers become more inclined to sell, forming a 'ceiling' that caps the price from rising further.
Identifying these levels is essential for predicting market movements. Traders often use historical price data, trendlines, moving averages, and other indicators to spot these levels. When prices approach support or resistance, they often either bounce back or break through. A breakout above resistance or below support can signal strong momentum, leading to significant price movements.
Understanding and accurately identifying these levels can provide traders with key entry and exit points, allowing them to maximize profits while minimizing risks. However, itâs important to note that support and resistance are not absolute and can be influenced by market sentiment and external factors.
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This post covers the basics of identifying and using support and resistance in trading, making it accessible for both beginners and intermediate traders.#DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
{spot}(MASKUSDT)
Indiaâs Central Bank Governor Advises Gradual Nationwide Rollout as CBDC Reaches 5M Users
CBDCIndiaReserve Bank of India
The RBI launched pilots for both retail and wholesale CBDCs in late 2022.
Indiaâs central bank digital currency (CBDC) pilot has surpassed 5 million users, but Reserve Bank of India (RBI) Governor Shaktikanta Das has cautioned against a hasty nationwide rollout.
Speaking at a conference in Bengaluru on Monday, Das emphasized the need for a gradual approach.
The RBI launched pilots for both retail and wholesale CBDCs in late 2022, following the Finance Ministerâs announcement in the 2022 budget speech.
By the end of 2023, the retail CBDC recorded over a million transactions in a single day, supported by participating banks.
16 Banks Are Involved in Indiaâs CBDC Pilot
Currently, 16 banks are involved in the retail CBDC pilot, although specific daily transaction figures were not disclosed by Das.
While the RBI has consistently maintained that it is not in a rush to fully implement a retail CBDC, Dasâs latest remarks suggest a cautious stance.
The actual introduction of CBDC can be phased in gradually,â he said.
âItâs crucial not to rush the system-wide rollout before gaining a comprehensive understanding of its impact on users, monetary policy, the financial system, and the broader economy.â
Since early 2023, the RBI has been exploring advanced features of the CBDC, including offline payments and programmability.
Das highlighted the programmability feature as a potential tool for financial inclusion, citing two recent pilot initiatives aimed at farmers.
These initiatives include programming funds for specific agricultural inputs and facilitating the generation of carbon credits, which could help establish the farmersâ identity and provide them with targeted financial support.
Looking ahead, Das revealed that additional use cases, such as anonymity and offline availability, are being considered for gradual implementation as part of the ongoing pilot program.
#CryptoMarketMoves Meme Coin News: SunPump Surpasses 3M in Volume, TRON-Based SunDog Listed
DogecoinMeme CoinsShiba inu
Justin Sunâs SunPump token generator recorded $3.1M in two weeks. Meanwhile, DOGE and SHIB led the pack per the community engagement on social media, and hackers promoted Grimace on McDonald's IG account.
Meme Coin News: Market Highlights
The meme coin market is having a mixed day. While the total capitalization is down, many coinsâ prices are up nonetheless.
Also, the marketâs capitalization fell just below 3% over the past 24 hours, currently standing at $45.5 billion.
{spot}(SOLUSDT)
The two best performers today are lesser-known dog-themed coins.
Resistance Dog (REDO) is up 154% to the price of $0.7032, while Wrapped DOG (WDOG) saw a 76% rise to $0.01915.
While Fwog (FWOG) appreciated 57%, the rest of the green list is up 29% and less.
On the other side is Neiro on ETH (NEIRO) with a 10.4% drop to $0.1212. Itâs the only coin in this category with a double-digit fall.
The second-placed Habibi (Sol) (HABIBI) is down 9.8%.
Zooming into the top 10 meme coins per market cap, we find that only three are down.
Baby Doge Coin (BABYDOGE)Â fell the most in this category: 1.85% to $0.000000001128.
Itâs followed by Memecoin (MEME)âs 1.2% fall and Dogwifhat (WIF)âs 0.6% fall.
Only one coin saw its price rise above 1%. Floki Inu (FLOKI) appreciated 6.3%, now trading at $0.00015.
$SOL
The second-placed Pepe (PEPE)âs price increased by 0.99%, changing hands at $0.00001.
Top two coins Dogecoin (DOGE) and Shiba Inu (SHIB) have seen rises of 0.35% and 0.5% to $0.10934 and $0.00001, respectively.
Justin Sunâs SunPump Surpasses 3M in Volume, TRON-Based SunDog Listed on Bybit
The team behind the TRON-based SunDog has announced that the coin has been listed on the crypto exchange Bybit.
âThe contract is now available for trades via Futures bots, such as Futures Grid, Futures Martingale, and Futures Combo,â the exchange stated.
On August 13, SUN.io, a DeFi platform on Tron, launched SunPump Beta.
Mastering Market Fluctuations: How Our System Helps Protect Your Investments
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The market's movements are unpredictable, making order management your top priority.
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{spot}(BTCUSDT)
SOL/USDT
1. **Price and Moving Averages:**
- Current price: **157.47 USDT**, down 1.40%.
- **MA(7):** 159.37
- **MA(25):** 160.15
- **MA(99):** 159.63
- The short-term moving averages (MA(7) and MA(25)) are trending below the longer-term MA(99), indicating bearish momentum. The price has sharply dropped below all key moving averages.
2. **Volume:** The volume has surged significantly, indicating strong selling pressure as the price dropped. This is a sign of heavy liquidation or aggressive profit-taking by traders.
3. **MACD:**
- The MACD indicator shows minimal divergence from the signal line, indicating that momentum is bearish, but the move has just started. The histogram is also showing red, confirming downward pressure.
4. **RSI:**
- RSI(6): 26.17
- RSI(12): 34.57
- RSI(24): 41.19
- The RSI(6) is deep into oversold territory, which may indicate that the downward move is overextended in the short term. However, the other RSI values are still trending down, suggesting that bearish sentiment is still dominant.
**Conclusion:**
SOL/USDT is experiencing strong selling pressure, pushing the price below key support levels and moving averages. The significant increase in volume and oversold RSI indicate that while there might be a potential for a short-term bounce, the market remains bearish. Traders should monitor whether the price stabilizes around current levels or continues to drop, especially with the RSI in oversold territory.
BTC/USDT âïž
1. **Price and Moving Averages:**
- The price is at **63,349.01 USDT**, showing a 1.27% decline.
- **MA(7):** 63,637.52
- **MA(25):** 63,756.43
- **MA(99):** 64,030.40
- The short-term moving averages (MA(7) and MA(25)) remain below the longer-term MA(99), further confirming the downward trend.
2. **Volume:** There has been a significant increase in trading volume, suggesting that sellers are still dominating the market. This selling pressure is contributing to the continued price drop.
3. **MACD:**
- The MACD line (-33.62) is well below the signal line, and both are in negative territory.
- This further confirms the bearish momentum, with no signs of a reversal at this point.
4. **RSI:**
- RSI(6): 29.17
- RSI(12): 35.60
- RSI(24): 39.82
- The RSI(6) is now below 30, indicating oversold conditions. The other RSI values are also trending towards oversold territory, which could indicate a potential for a bounce if buyers step in. However, the downward trend is still strong.
**Conclusion:**
Bitcoin continues to experience bearish momentum, with indicators showing oversold conditions but no confirmed reversal yet. If the oversold RSI results in buying pressure, there might be a short-term bounce. However, itâs essential to watch for price action around key support levels (around 63,131.99 USDT) and whether the moving averages start to flatten or reverse to signal a change in trend direction. For now, caution is still advised in entering positions.
{future}(BONDUSDT)
Crypto All-Stars Raises Over $770K in Presale â Limited Time to Get 1,882% APY
Crypto All-Stars ($STARS) is a new cryptocurrency project that enables the staking of popular meme coins through its MemeVault platform.
Crypto All-Stars ($STARS)Â continues to hit big, having already raised over $770,000 in capital through fundraising efforts.
This new meme coin introduces the industryâs first unified staking protocol, MemeVault, which allows top meme coins to be pooled together to earn rewards in $STARS.
With the upcoming launch of MemeVault, the $STARS token will also be crucial for multiplying the staking rewards that top meme coins can earn. This explains the $STARS buying frenzy that has been underway since the Crypto All-Stars presale kicked off just over two weeks ago.
As a result, $STARS has rocketed through five price levels, consistently smashing funding goals in record time.
Right now, $STARS is priced at $0.0014078, but itâs set to rise to $0.0014191 in less than 48 hours.
Meme coins are down 3.8% in the past 24 hours, but many have posted strong gains over the past week
Meme coins have had a solid week, with most tokens gaining bullish momentum despite the broader sector dropping by 3.6% on Monday.
Top coins such as Dogecoin ($DOGE), Shiba Inu ($SHIB), Brett ($BRETT), and Mog Coin ($MOG) have risen by 8.8%, 13.9%, 20.0%, and 14.8%, respectively.
PepeCoin ($PEPECOIN) and Floki ($FLOKI) were two of the biggest gainers among the top coins during the same period, with gains of 28.7% and 35.7%.
These gains mark one of the best few days the sector has seen since its peak in May. For instance, $PEPECOIN almost had an eight-day winning streak without the 1.46% dip on Saturday. Currently trading at $3.27, itâs now just eighty cents away from hitting $4, a level it hasnât reached since June 12.
As the meme coin market slowly regains its momentum, hodling $PEPECOIN and other top meme coins could be a smart move. But why stop there? Staking them while you hold could potentially multiply your returns up to 100x.
Ethereum â Still Lacking Power!
Although Ethereum showed some strength during the latest market pump, the token didn't clear essential levels.
On the contrary, ETH was rejected at the significant 2.8k resistance and the 4H EMA200.
Currently, ETH is struggling to stay above its sideways channel trendline. A close below this trendline on the daily chart would put us back where we came from.
Moreover, the 2.5k level would return to the play in this case.
Volume continues to be relatively low â especially in the context of a significant breakout.
Therefore, the story remains the same: As long as ETH trades below 2.8k, long trade entries don't make sense.
$ETH
THIS CRYPTO scenario underscores the vulnerability of Bitcoin and other cryptocurrencies during times of geopolitical instability. While Bitcoin is often touted as a safe haven or a hedge against traditional financial markets, the sharp drop in its value following the air attack on Israel illustrates that, in reality, investors may view it differently when faced with immediate threats. The rapid sell-off suggests that in times of extreme uncertainty, investors may prioritize more established stores of value like gold over cryptocurrencies.
The situation also highlights the dangers of leveraged trading in volatile markets. When prices began to fall, traders with highly leveraged positions were forced to sell, accelerating the downturn and causing further price drops. Although the crypto markets rebounded somewhat after reports of Israel successfully defending against the attack, the overall situation shows that Bitcoin's role as a "digital gold" may still be more theoretical than practical in of crisis,
This event might lead some to reconsider the narrative that Bitcoin will thrive in times of global instability and could instead reinforce the perception that traditional assets like gold are more reliable during such times.$BTC
In the second half of 2024, as the Federal Reserve begins to cut interest rates, these five cryptocurrencies could see explosive growth, potentially soaring 100 times:
[vote for me](https://app.binance.com/uni-qr/cpro/CryptoMystique?l=en&r=146259817&uc=app_square_share_link&us=copylink)
BNB
Binance Coin (BNB) is a token with a capped supply that is closely tied to the Binance ecosystem. It offers fee discounts and other benefits to traders on Binance and serves as the primary token for the Binance Smart Chain (BSC), now known as Build 'N' Build Chain. BNB has been a leader among top cryptocurrencies, recently showing strong performance while other major assets like Bitcoin and Ethereum corrected.
ADA
Cardano (ADA) is poised for growth as the highly anticipated Chang upgrade nears completion. This upgrade will enhance the network's governance capabilities, potentially increasing ADA's value by offering more functionality and decentralized metadata advantages.
BONK
BONK, one of the latest meme coins in the Solana ecosystem, has been gaining attention for its integration into Web3 applications and protocols. BONK's mission is to expand its reach across multiple chains, DeFi, and gaming platforms. investment.
RENDER
Render (RNDR) is gaining traction, especially after Coinbase launched permanent futures contracts for it. This development, along with support for native Cinema 4D (C4D) files, is boosting investor confidence. Renderâs platform is essential for 3D artists, allowing them to efficiently check project files before submitting them for distributed rendering
Sei Network is designed specifically for trading, with a focus on improving the performance of decentralized exchanges (DEXs). Sei's Layer 1 architecture is built to enhance reliability, scalability, and speed, offering a competitive edge over traditional systems.
#TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
$ETH Russian Stock Exchange Denies Reports it Is About to Launch State-run Crypto Exchange
Crypto ExchangeRussia
Saint Petersburg Currency Exchange says it does not have any plans to provide âservices related to cryptocurrencies.â
A major Russian stock exchange has denied reports that it is on the verge of launching a state-run crypto trading platform.
Earlier this week, unnamed insiders reportedly told major Russian news outlets that the Saint Petersburg and Moscow exchanges were ready to roll out crypto exchange services.
But in a statement on its website, the Saint Petersburg Currency Exchange (SPVB) stated that it does not have any plans to provide âany services related to cryptocurrencies.â
Russian Stock Exchange: We Have No Crypto Plans
The SPVB said it was responding to âreports in a number of media outlets.â And it refuted claims that it has any âplansâ in place regarding crypto.
The reports that appeared in a number of media outlets that the St. Petersburg Currency Exchange plans to become one of the platforms for trading crypto assets are not true. Our approved development strategy is focused on developing our own products and services in the money and stock markets. They do not involve the provision of any services related to cryptocurrencies.â
Saint Petersburg Currency Exchange
However, it appears that there is no smoke without fire. Senior Moscow politicians have been talking up the idea of launching a state-run crypto exchange for the past few weeks.
This follows the approval of laws that will, from September 1, legalize industrial crypto mining and green-light the use of crypto as a payment tool in international trade.
The SPBV is also seeking a new head of anti-money laundering operations with crypto skills. The exchange posted a vacancy on the Headhunter (HH) recruiting site.
The posting reads that the new hire will be responsible for âdeveloping AML/CFT rules for âtransactions with digital financial assets and cryptocurrencies.â
đ The #stablecoin market has reached a new all-time high in terms of market capitalization.
This increase in market cap is driven by various factors, including heightened interest in decentralized finance applications, the use of stablecoins for trading and payments, and their role as a hedge against the volatility of other #cryptocurrencies
Stablecoins, which are digital assets pegged to traditional currencies like the US dollar, offer a stable store of value that can be easily transferred across different platforms and countries. The rise in their market cap indicates a broadening acceptance of stablecoins as a reliable medium of exchange and a tool for managing risk in volatile markets.
#Stablecoins #StablecoinMarketCap #TrendingTopic
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$BTC Senior South Korean Police Officer âTook Bribes During Crypto Investigationâ
PoliceSouth Korea
Supect worked in Seoulâs Gangnam District, the South Korean crypto heartland.
South Korean prosecutors are investigating a senior police officer in the capital Seoul over allegations the official âtook bribesâ during a crypto investigation.
Per News1, the officer â an unnamed superintendent â works in the crypto heartland of Seoulâs Gangnam District. The district is one of the richest parts of the nation.
Gangnam is home to most of South Koreaâs leading crypto exchanges. Many of the biggest fintech and IT firms are also based in the district.
Korean Police Officer âTook Bribes from Crypto Suspectâ
The media outlet reported that prosecution officials have begun a âcompulsory investigationâ into âa serving police officerâ suspected of âreceiving a bribe from a person related to an active case.â
Prosecution officials said the Seoul Southern District Prosecutorsâ Office-run Virtual Asset Joint Investigation Team âraided the Gangnam Police Station in Seoul where the superintendent workedâ on August 23.
Prosecutors âseized and securedâ related data as part of their probe. Officials think the superintendent âreceived moneyâ from a suspect âwhile investigating a cryptocurrency case.â
A spokesperson confirmed that after prosecutors had completed their search, the police ârelievedâ the superintendentâ of their âposition.â
These are disappointing allegations. If this is true, it undermines public confidence in the police force. We rely on the police to protect us from crime and corruption.â
Special Dispensationâ Granted
The Virtual Asset Joint Investigation Team is South Koreaâs leading police crypto investigation unit.
It handles several important crypto cases, including the probe into Do Kwon and the collapse of the Terra ecosystem.
However, the team was given special dispensation to deal with the superintendentâs case.
{future}(BTCUSDT)
How many blockchain ecosystems are you actively involved in? (e.g. Polkadot, Ethereum, Solana, Tron, Cosmos, Cardano, Avalanche, Near, Ton, etc.)
Reasons why #Bitcoin may see $60K before $70K
Bitcoinâs (BTC) price reclaimed a position above $62,000 for the first time since Aug. 1, after Federal Reserve chairman Jerome Powell delivered a dovish speech about potential rate cuts in September.Â
After a 6% uptick on Aug. 23, BTC went on to re-test $65,000 twice but failed to illustrate a position of bullish strength on the 1-hour and 4-hour chart.Â
While a sideways consolidation after a bullish breakout is considered positive, other signs indicate that Bitcoin may entertain another correction down to the $62,000-$60,000 range.
Telegram Deems Misuse Allegations âAbsurdâ Following CEOâs Paris Arrest
TelegramTON
Telegram stated that it complies with EU laws and dismissed claims that Durov or the platform is responsible for user abuse, calling such accusations "absurd."
âTelegram abides by EU laws, including the Digital Services Act â its moderation is within industry standards and constantly improving,â the app said Monday on X. It added that Durov, who frequently travels across Europe, has ânothing to hide.â
âIt is absurd to claim that a platform or its owner are responsible for abuse of that platform,â the Dubai-based platform said.
Local media reported that authorities arrested Durov at Bourget airport near Paris on Saturday. French authorities reportedly detained the CEO upon his arrival from Azerbaijan on his private jet. He is originally from Russia, but holds dual citizenship with France and the United Arab Emirates.
The arrest is tied to an investigation into whether Telegramâs content moderation has enabled crimes like terrorism and trafficking. Durov has not been formally charged yet, but the investigation is centered on Telegramâs moderation practices.
Telegram-linked Toncoin has plunged 17% following the arrest. The token was down 1.1% on Monday.
French Authorities Extend Pavel Durovâs Detention
French judicial authorities on Sunday extended Durovâs detention, signaling a serious approach to the allegations against him. This extension, which could last up to 96 hours, indicates a detailed investigation into the claims.
The Russian Embassy in Paris requested an explanation from the French authorities regarding the reasons for the detention. Further, they insisted on protecting Durovâs rights and granting consular access.
Discussions about the balance between free speech, privacy, and content moderation have erupted following his arrest. While some critics contend that Durovâs arrest over platform content establishes a perilous precedent for internet freedom, others assert it underscores the necessity for more stringent regulations.