$CKB /USDT
**Understanding Support and Resistance in Trading**
Support and resistance are fundamental concepts in technical analysis, crucial for making informed trading decisions. **Support** refers to a price level where a security tends to find buying interest, preventing it from falling further. It acts as a "floor" that prices struggle to break below. Traders often watch for support levels to identify potential buying opportunities.
On the other hand, **resistance** is a price level where selling interest tends to emerge, preventing the price from rising further. It serves as a "ceiling" that prices struggle to break above. Resistance levels can indicate potential selling points or areas where a rally may lose momentum.
These levels are not absolute but rather zones where the price action is likely to pause or reverse. Traders use various tools like moving averages, trendlines, and previous highs and lows to identify support and resistance levels.
Understanding support and resistance helps traders make better decisions, such as setting stop-loss orders, identifying entry and exit points, and managing risk more effectively. By recognizing these critical levels, traders can anticipate market movements and improve their chances of success.#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
{spot}(CKBUSDT)
Bitcoin pump incoming ?
If you've been paying attention to USDT.D, you already know about the inverse correlation between USDT.D and BTC.
Looking at the chart, USDT.D broke down a strong trendline support and is currently testing the point of breakdown with a possible bear channel formation.
Meanwhile, BTC is forming a broadening wedge which is a bulllish continuation pattern.
If USDT.D continues to dump, we can expect a massive leg up in BTC, sending it to $72,000 and even higher.
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Breaking đ„
Tether to Launch Dirham-Pegged Stablecoin in the UAE
Tether, the world's largest stablecoin issuer, is set to introduce a new stablecoin pegged to the UAE Dirham (AED). This launch is in partnership with the UAE-based Phoenix Group PLC and Green Acorn Investments Ltd., with the stablecoin fully backed by UAE-based reserves. The primary goal is to simplify international trade, lower transaction costs, and offer a stable currency option in a region known for its economic volatility.
This initiative aligns with the UAE's growing influence in the global crypto and blockchain industry, supported by favorable regulations and the newly established Virtual Asset Regulatory Authority. The Dirham-pegged stablecoin will join Tetherâs existing lineup, which includes coins linked to the US Dollar, Euro, and more, further solidifying the UAEâs position as a leader in the blockchain space.
#Bitcoin pump incoming ?
If you've been paying attention to USDT.D, you already know about the inverse correlation between USDT.D and BTC.
Looking at the chart, USDT.D broke down a strong trendline support and is currently testing the point of breakdown with a possible bear channel formation.
Meanwhile, BTC is forming a broadening wedge which is a bulllish continuation pattern.
If USDT.D continues to dump, we can expect a massive leg up in BTC, sending it to $72,000 and even higher.
What PEPE Needs Turn Bullish
NOWđ„đ„
The Pepe Coin price chart shows the asset is in a descending wedge pattern, generally considered a bullish reversal signal, especially if the price breaks above the wedgeâs resistance.
The price of Pepe coin is currently experiencing resistance at $0.00000836 near the 200 EMA. If it breaks above that, PEPE price may complete a double bottom reversal pattern that catapults it 68% to $0.00001200, which would also double as a breakout and potentially set up the price for further gains to $0.00001800.
The extremely overbought Stochastic RSI at 95.50 suggests that the price may face short-term selling pressure or a potential pullback before moving higher. This may explain why traders are shying away from the meme coin. However, during strong uptrends, overbought conditions can persist for extended periods.
If the PEPE fails to break and hold above the 200 EMA, it may drop further downward to $0.00000700 and potentially even lower below the falling wedge at $0.00000477. This would invalidate the current bullish thesis and render PEPE
PEPE Needs to Beat $0.00000835 to Turn Bullish
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đ„đ„VALUE OF MOST EXPENSIVE NFTs PLUMMET AS WINTER CONTINUES.đ„đ„
The once-booming market for non-fungible tokens (NFTs) has cooled significantly from its peak when digital artwork captivated global attention. Iconic collections like CryptoPunks and Bored Apes became cultural phenomena in 2021 and 2022, attracting celebrities such as Justin Bieber, LeBron James, and Madonna. Snoop Dogg and Eminem even performed as Bored Ape avatars at the MTV Video Music Awards.
By May 2022, the NFT marketâs value skyrocketed to $617 billion. However, it has since plummeted to around $44.3 billion, a staggering 92% drop. According to CoinTelegraph, the value of some of the most expensive NFTs that were transacted during the NFT bull market has plummeted significantly.
CryptoPunks, launched on Ethereum in 2017 by Larva Labs, played a pivotal role in the NFT boom. In 2021, nine CryptoPunks were auctioned by Christieâs for $16.9 million. CryptoPunk #5822, one of only nine alien punks, was bought by Deepak Thapliyal, CEO of Chain, for 8,000 ETH (about $23.7 million) in February 2022. Its value has since halved, reflecting the broader market decline.
Similarly, EtherRock #93, part of a 2017 collection of 100 âPet Rocks,â sold for $1.8 million in 2021. Today, an EtherRock trades for approximately 200 ETH, about $1 million less than its peak price.
Bored Ape Yacht Club, one of the major NFT collections that received mainstream attention in 2021. Bored Ape #8817 fetched $3.4 million at Sothebyâs, thanks to its rare gold fur. However, recent sales of similar apes suggest significant losses for investors, with some golden apes now selling for as low as $665,000.
Donald Trump is reportedly close to receiving an endorsement from a leading independent candidate, which could significantly impact the outcome of the upcoming November election.
On Wednesday, Bitcoin experienced a 4% surge, climbing back to $61,550, fueled by speculation that Robert F. Kennedy Jr. might soon withdraw from the 2024 U.S. Presidential race to endorse Trump.
This development has reinforced Trump's position as a favorite among betting markets to win the November election. Analysts believe this could have substantial short-term effects on Bitcoinâs price.
According to ABC News, Kennedy is expected to withdraw from the race by the end of the week, with sources indicating that he will endorse Trump. When approached, Kennedy neither confirmed nor denied these reports. His running mate, Nicole Shanahan, recently hinted in a podcast that they are facing a tough decision about whether to throw their support behind Trump.
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Scammers are out there, using a sneaky tactic called arbitrage to try and steal your hard-earned crypto. They claim to exploit price differences between exchanges, buying low on one and selling high on another. But hereâs the truth: itâs all a ruse to line their pockets, not yours.
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These fraudsters often hang out on Telegram, where they spend big on ads to lure you in with free signals and analysis. Once theyâve gained your trust, they pull off the big con. They create flashy websites and convincing videos showing how you can buy $ETH on Binance and sell it for a profit on their fake platform, where, surprise, surprise, the only wallet youâre depositing into is theirs.
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Follow me for insider tips and real advice on navigating the crypto world safely. Iâm here to keep you informed and one step ahead of the scammers. Always remember: crypto prices donât magically differ between exchanges. If someoneâs offering you an arbitrage deal that seems too good to be true, itâs probably a scam.
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Letâs band together to stop these scams in their tracks. Support me and spread the wordâletâs build a stronger, safer crypto community where we look out for one another. Your awareness is the best defense against these tricks!
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#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek
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Bitcoin Metrics Signal Weak Demand Dynamics, Growth Slows: CryptoQuant
Growth in total holdings of large Bitcoin investors has also slowed from a monthly pace of 6% to 1%.
Bitcoin demand has slowed since early April and dipped into negative territory this month, according to South Korean data firm CryptoQuant.
On Wednesday, Bitcoin is trading at the $60,700 mark and has failed to hit $70,000.
Growth in the total holdings of large Bitcoin investors has also slowed, from a monthly pace of 6% in March to just 1%, notes the research firm.
âThis slowdown in Bitcoin demand coincided with smaller purchases from spot ETFs in the USA. The average daily purchases from Bitcoin spot ETFs in the USA have declined from 12.5K Bitcoin in March, when Bitcoin was trading above $70K, to an average of 1.3K Bitcoin last week,â said CryptoQuant in its weekly note.
Bitcoin Spot ETF Hype Falters in the U.S.
The significant drop in ETF activity is a reflection of the reduced appetite for Bitcoin in the spot market.
The decline in U.S. spot demand has also been reflected in the reduced price premium for Bitcoin on the Coinbase exchange, a leading U.S.-based cryptocurrency exchange. Lower premiums generally suggest that the demand pressure from buyers has weakened, contributing to the stagnation in Bitcoinâs price momentum. $BTC
{spot}(BTCUSDT)
#Laraxenteam #laraxen #LaraxenFamily
In a significant political development, Donald Trump has hinted at the possibility of appointing Elon Musk to a Cabinet position if he secures the presidency in 2024. This potential appointment comes on the heels of Musk's public endorsement of Trump and a recent discussion on X Spaces, where they exchanged views.
Trump, in an interview with Reuters on August 19, expressed his openness to considering Musk for a role within his Cabinet or as a top advisor, should he take office in January 2025. However, he did not specify which department Musk might lead, leaving open the possibilities among key sectors like Energy, Transportation, Commerce, and Treasury.
This marks a notable shift in Musk's political stance, as he had not supported Trump in the 2020 election, instead backing former Vice President Joe Biden. However, recent events, including an apparent assassination attempt on Trump, have led Musk to vocally support the former president, even as he critiques current policies under President Biden and Vice President Harris.
Trump's acknowledgment of Muskâs influence and intelligence has been evident, particularly during a rally in July, where he publicly praised Muskâs contribution to the electric vehicle industry, largely attributing his support to Muskâs backing.
Reports have circulated regarding Muskâs financial contributions to Trumpâs campaign, suggesting figures as high as $45 million per month. However, Musk has downplayed these claims, indicating that his financial support would be directed towards a political action committee aligned with Trumpâs campaign, though at a much lower level.
As Trumpâs campaign gears up for the November election, it is clear that support from influential figures like Musk and high-profile donors will play a pivotal role in shaping his bid for the presidency.
#kamalaHarris #donaldtrump #ElonMuskUpdates
#XRP: STILL STRUGGLING TO BREAKTHROUGH? THIS PRICE ACTION IS 98.89% POSSIBLE
If you're looking for an in-depth analysis of XRP, then, you're in the right place.
{future}(XRPUSDT)
{future}(ETHUSDT)
{future}(BTCUSDT)
Here why.
As we've verified the existence of major selloffs at every key level of XRP 0.5, 0.6, 0.7, 0.8 and so on. More and more rejections happen although the support is becoming sturdier as well. Since XRP has been consolidating for more than 2 years already, we can expect a high anticipated movement soon. Albeit, since almost everyone is anticipating a highly impacting movement, it's safe to assume that there are still possibilities of an opposite expectation to be fulfilled. Let me give you an example. There is a tendency for XRP to have a high price surge, yes that's highly possible but most likely, there will still be both long and short squeezes that will eventually trap traders who aren't doing HODL's, those who are doing high leveraged trades (10x above), especially those who don't set their stop losses. Right after, once the market settles the traps and enough liquidity will be present causing the price to have more gas to use for high price surges. You can always use your critical thinking in order to check every possible scenario that could happen. Stay wise, trade cautiously.
#ADA
Cardano Price Can Rally To $0.4 to $0.45
If This Key Resistance Yields
Spike in Active Addresses Reflect Cardano Price Surge
Data from Santiment shows an increase in active addresses since it hit a yearly low
This date also aligns with the end of the RareEvo blockchain event, where Cardano unveiled its Hydra Layer 2 scaling solution, proving it to be a real contender among highly scalable networks.
This spike in the number of active addresses could signal new users coming in to test the network or new investors jumping in to take advantage of the hype around Hydra and the upcoming Chang hard fork upgrade.
All Ahead Flank for ADA Price After $0.3750
Cardano price defied a classic bearish continuation pattern and broke out to the upside, which suggests the beginning of an uptrend. This strong market performance suggests that ADA price is looking to regain its all-time highs.
The breakout is accompanied by a strong bullish candlestick, a positive signal for continued upward movement. The size of the candlestick indicates strong buying pressure.
ADA is likely to find resistance at $0.3703, where the price is currently testing, and above that, $0.4340, aligned with the upper Bollinger Band and a previous consolidation area.
Additionally, the price of Cardano is currently pushing toward the upper Bollinger Band, indicating that the asset might be entering an overbought condition and that there is strong momentum. A positive Chaikin Money Flow (CMF) value supports this, indicating money inflow into ADA.
Holding or accumulating ADA may work if the bullish trend continues and breaks through the $0.4340 resistance. If the price remains above the $0.3430 level, traders should expect a longer-term target around $0.5000.
However, if the Cardano price fails to breach and maintain above $0.3750, it may show market weakness and could cause it to drop to 0.3067, invalidating the current bullish thesis.
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1. Hold the Right Crypto:Keep a certain amount of the designated cryptocurrency, like HAM, in your wallet to qualify.
2.Stay Connected: Follow Hamsterâs official social media channelsâTwitter, Telegram, and more.
3. Join the Community:Become an active member of Hamsterâs community, whether itâs on Telegram, Discord, or other platforms.
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Copper, a leading digital asset custody, collateral management, and prime services provider, has announced the integration of custody and staking support for MINA, the native token of the Mina Protocol. This development, revealed by the Mina Protocol team on Wednesday, marks a significant step in enhancing the security and utility of MINA for its users. However, despite such advancements, the broader market sentiment remains cautious. Regulatory uncertainties and market volatility continue to cast a shadow over the cryptocurrency sector, raising concerns about the sustainability of recent gains.