The TOTAL crypto marketcap has reached a major resistance level at $1.30-$1.35 trillion. Breaking above this resistance level would propel the price towards the $1.50-$1.55 trillion resistance area. #BitcoinRevival #BTC🔥🔥
What Is a Stablecoin Peg?A stablecoin is a type of crypto asset that’s designed to have a relatively stable value. While cryptocurrencies are usually known to be volatile, stablecoins have been specifically created to be a hedge against price fluctuations.Stablecoins maintain stability by using a "peg." A "peg" is like an anchor for value. Just as countries might tie their money's value to another country's currency to keep it stable, stablecoins do something similar. Many stablecoins, like USDT and DAI, aim to have the same value as $1.What Happens When a Stablecoin Depegs?When a stablecoin is no longer trading for its predetermined peg value, it's called a "depegging event." Over the years, stablecoins have found immense utility and currently account for billions of dollars in daily trading volume. This is why a depegging event could potentially have far-reaching consequences. Later on in the article, we will be looking at historical instances of stablecoin depegs. Before that, let's look at how stablecoins manage their pegs.
XLM is unable to break the $0.1350-$1370 resistance area. Price is now testing the support area and a bounce is expected from here. You can open small long positions here with tight stop loss. #XLM #bitcoin #BTC #Binance #opbnb
Bitcoin is currently testing the resistance level of $28,000 again. It is uncertain whether the price will hold above this resistance area. Positive movements are expected once the crucial level of $28,500 is breached. #BTC #crypto2023 #Binance #opbnb
👉The $TOMO market appears to be in bullish momentum, and it poised to enter a very strong bullish phase aiming for $2. Currently the market shows gradual increases and has broken through the support level at 1.3921. It's steadily moving upwards and has experienced a real breakout at the resistance level of 1.4397.
👉This market gearing up for a significant pump, possibly reaching a 10% or more, targeting a 1.59 or even higher. I can observe bullish momentum across various timeframe's, including the 15mint, 1hour, 4H, and daily chart.