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📈 Prediction (ETH and BCH): 👍 ETH/USDT - When the asset trades above its 20-day EMA, it is considered a bullish signal — this scenario implies that the current price has surpassed the average price of the last 20 days. Market participants interpret this as a shift towards accumulation of coins. A brief period of #ETH price above the 20-day EMA suggested that bulls temporarily regained control of the market, but then yielded it back to bears. However, at the time of writing, the on-chain sentiment metric for #Ethereum stands at 0.32. A positive value of the indicator indicates an overall bullish sentiment towards the asset on social media. Forecast: Despite bullish activity in the ETH market, on the daily chart, the price remains within a descending triangle. This is typically considered a bearish signal. A descending triangle forms when the price records a series of lower highs. When this occurs, a certain price level forms support. In ETH's case, it sits at $2,864. If bearish pressure intensifies and the coin loses gained ground, it may drop below $3,000 towards the $2,800 area. However, if the coin breaks above the upper boundary of the triangle, it may move higher towards $3,100 in the short term. 🖖 BCH/USDT - The price of Bitcoin Cash has crossed the critical Fibonacci 23.6% correction level at $430. This is a key support that serves as the basis for a bear market. Historically, its testing has led to recovery. Such an outcome is expected this time as well, considering that the altcoin is receiving support from investors. Potential growth could push #BCH towards $450, above the Fibonacci 38.2% correction level. This is an important psychological level that could further fuel the rally. However, there has already been one unsuccessful breakout this month. A new failure could send Bitcoin Cash back to the $430 mark. A drop below this line could trigger a decline to $410 or $400, refuting the bullish scenario. 💪 Share, please.
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🪙 Crypto News (May 16, 2024): 1️⃣ Binance: The cryptocurrency exchange #Binance has introduced a new feature—spot copy trading. This allows clients to mirror the trading strategies of experienced traders directly in their own activities. 📈 2️⃣ pSTAKE: The team behind the pSTAKE Finance protocol, previously supported by Binance Labs venture fund, has launched a solution for liquid bitcoin staking in collaboration with Babylon. This initiative enables long-term bitcoin holders to earn passive and secure income. 💰 3️⃣ IOTA: The IOTA Foundation has announced the public testnet launch of #IOTA 2.0, incorporating a built-in Proof-of-Stake (PoS) consensus mechanism. Developers aim to establish a more secure, scalable, and environmentally friendly network. Notably, this version marks a transition to a fully decentralized model by eliminating the coordinator that previously managed consensus. 🔗 4️⃣ Lookonchain: An unidentified trader achieved a staggering 137-fold increase in their deposit within approximately five minutes. This feat was accomplished by trading the meme coin TOBI on the Solana network. Acquiring 28.58 million #TOBI tokens on the Raydium exchange for 9 SOL, the trader swiftly sold all assets for 1238 SOL when the meme coin's price surged. 💸 5️⃣ BillTrack50: Oklahoma Governor Kevin Stitt has signed into law the "Bitcoin Rights Act" (HB3594). This legislation confirms the rights of local residents to independently hold bitcoin and use it for purchasing legal goods and services. 🏛️ 😀 Enjoying the updates? Want more insights and news? Consider subscribing for regular updates, or drop a like or comment below to share your thoughts or questions!
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🔐 Cyber News (May 16, 2024): 1️⃣ Sonne Finance: Sonne Finance, a decentralized lending protocol, fell victim to an exploit resulting in around $20 million in damages. According to reports, the attacker exploited a known vulnerability in the Compound v2 forks, one of which includes Sonne Finance. 🔓 2️⃣ Baidu: The municipal public security bureau of Chengdu, in Sichuan province, with the assistance of their counterparts, halted the operations of an underground cryptocurrency bank catering to smugglers and individuals seeking to transfer assets abroad. Suspects utilized #USDT to evade national currency regulations, conducting transactions totaling 13.8 billion yuan (over $1.9 billion). 🛑 3️⃣ Bloomberg: BlockTower Capital, a cryptocurrency hedge fund, was targeted in a hacking incident. Despite ongoing efforts, the firm has been unable to recover the funds or identify the perpetrators. However, BlockTower Capital has already engaged blockchain crime investigation analysts and informed its limited partners about the attack. 🕵️‍♂️ 4️⃣ hoak: An employee of the decentralized exchange (DEX) Cypher, built on Solana, misappropriated approximately $315,000 from the project and subsequently lost the funds in gambling activities. Accepting responsibility, the individual has acknowledged the forthcoming consequences. 😞 5️⃣ CertiK: DeFi platform Alex Labs, operating on the #Bitcoin network, experienced a breach resulting in losses of roughly $4.3 million. Speculation surrounds a potential compromise of private keys. 🚨 👍 Enjoying the updates? Don't forget to subscribe for more insightful content!
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