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🤔 Will Tron Hold at $0.1597, or Will a Rising Wedge Trigger a Drop to $0.1463? As the chances of a rising wedge breakdown increase, Tron is approaching a crucial crossroads at $0.1597. Will buyers manage a bullish turnaround, or is a further decline imminent? With the crypto market chaos resulting in massive ups and downs in altcoins, Tron is currently moving downwards. Failing to cross the $0.1686 barrier, the TRX price fall warns of a crash under $0.160. Additionally, the high-risk breakdown of a rising wedge pattern on the daily chart could lead to a nearly 10% decline in Tron. The key question is: will the bulls step in and reverse the trend at the $0.1597 support level? On the 4-hour chart, Tron’s price action shows a failed attempt to break above the $0.1686 resistance. This failure has resulted in an evening star pattern and six consecutive bearish candles. The bearish price movement has caused a 4.29% drop from the $0.1693 level to the current market price of $0.1620. The downward trend is approaching a short-term support trendline near the 23.60% Fibonacci retracement level at $0.1597. On a larger scale, the prevailing uptrend in TRX’s price action reveals a rising wedge pattern. Within this wedge, the recent reversal has formed a double top and established a neckline at the $0.1463 level. The increasing bearish pressure has caused a negative crossover between the MACD and its signal line on the 4-hour chart. Additionally, the MACD histograms are showing a surge of negative momentum, and the RSI has fallen below the 50% mark. These technical indicators suggest a growing influx of selling pressure. 🔸 Will Tron Sustain Above $0.1597? Using the trend-based Fibonacci retracement, a potential reversal from the 23.60% level ($0.1597) must surpass the 38.20% Fibonacci level of $0.1686 for an uptrend continuation. While the upside chances are low, the broader market recovery could propel the Tron prices higher. #Tron #TRX
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🤔 Bitcoin History Repeats Itself During the US presidential elections in 2012, 2016, and 2020, Bitcoin always recorded growth between 478% and 11,000%. 🔼 In fact, the elections coincide with the 4-year halving cycles, which has a positive effect on it. #BTC #Bitcoin
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⭐️ Is Cardano Poised for a Double-Bottom Reversal to $0.41? After a brief 3-day bear run, Cardano (ADA) is eyeing a potential double-bottom reversal, which could see the price bounce back to $0.41. Amid a refreshing recovery run in the crypto market after multiple correction days, Cardano also marks a reversal. The intraday recovery increases the chances of reversal for Cardano with a double-bottom reversal. Will this bullish trend in Cardano bounce back from the crucial support zone near $0.324? Let’s find out. 🔸 Cardano’s Double Bottom Reversal In the 4-hour chart, the Cardano price action shows a sideways trend. Furthermore, the bearish influence over the consolidation range is gradually increasing, warning of a bearish breakdown. Recently, Cardano broke below the $0.331 support zone for the second time in the past 10 days. This bearish outcome follows a double-top reversal at the $0.36 resistance level, which aligns with the 50% Fibonacci retracement. The downturn led to three consecutive days of bearish closes, resulting in an 8.94% drop from $0.358 to $0.326. As of now, Cardano has shown a modest intraday recovery of 1.23%, taking support near the $0.324 zone. This recovery has completed a morning star pattern, and the price is testing the previously broken $0.331 support level. More importantly, this setup hints at a potential double-bottom reversal, with $0.324 acting as the baseline. Additionally, the MACD and signal lines are close to crossing bullish, supporting the upside potential. The RSI has also started to recover from the oversold zone and is crossing above its 14-day simple moving average (SMA), signaling increasing bullish momentum. 🔸 Will Cardano Price Surge to $0.40? As the likelihood of a positive cycle within the current consolidation range grows, the price action traders should watch for is a breakout above $0.332. A move above this level could trigger further gains. #ADA #Cardano
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🚀 Chainlink Powers Pilot with SBI and UBS for Tokenized Fund Operations Across Chains Chainlink (LINK) has announced that SBI Digital Markets & UBS Asset Management have successfully completed a pilot program using Chainlink’s industry-standard Cross-Chain Interoperability Protocol (CCIP). According to an attached release, the CCIP was used to create a digital transfer agent smart contract to facilitate cross-chain communication with the tokenized fund contract. Using the Chainlink platform and the feasibility of smart contracts, the pilot demonstrated the feasibility of streamlining fund operations across different blockchains and financial systems to force a shift in operational efficiency and transparency for the mutual fund industry worth around $63 trillion. We’re excited to announce that SBI Digital Markets & UBS Asset Management successfully completed a pilot using Chainlink CCIP to streamline tokenized fund operations across different chains & financial systems — Chainlink 🔸 More About the Pilot Program According to our research, the Project Guardian pilots led by the Monetary Authority of Singapore and participated by the SBI Digital Markets (SBIDM) are focused on driving commercial adoption. Meanwhile, SBIDM is also creating an end-to-end primary and secondary market distribution of tokenized securities. This is done through the connection of regulated digital asset exchanges across different regions in addition to collaboration with leaders in blockchain technology. According to the Chief Executive Officer of SBI Digital Markets, Winston Quek, the team has adopted an “open and interoperable architecture in both operational structuring and tech engineering” to enable institutional investors to join the quest to unlock efficiencies via blockchain technology. #LINK #Chainlink
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📊 Shiba Inu (#SHIB ) Jumps 40% in Volume as Bulls Eye Golden Cross Breakout The popular meme-inspired cryptocurrency Shiba Inu (SHIB) saw more than 40% growth in trading volume today, according to data from CoinMarketCap. Currently, Shiba Inu tokens have a combined turnover of nearly $400 million on the spot markets. This development comes as the price of SHIB is up over 6.1% in today's trading session. The Shiba Inu token is now trading at a valuation of $0.0000179 per SHIB. The popular meme cryptocurrency has not been this high since late October, and in fact has been under selling pressure for the past five days. However, today's candle has absorbed all of this downward movement and has now hit a dynamic resistance level, represented by the 23-day moving average. At the same time, a golden cross continues to form on the price chart of Shiba Inu as the 50-day moving average continues to rise and the 200-day moving average continues to fall. When both curves cross, a golden cross can be formed. 🔸 What's next for Shiba Inu (SHIB) ? According to the laws of technical analysis, this pattern is considered a bullish signal, and the history of SHIB's price has repeatedly shown growth on the background of its occurrence. The last time such a phenomenon occurred was in December 2023, and then the price of Shiba Inu token at the peak grew by 454%, having taken a trip from $0.0000083 to $0.00004567. Until a few days ago, amid a series of red bars, there were doubts whether the long-awaited golden cross would happen or whether plans for it had come to an end. Today, however, the bullish behavior of SHIB seems to re-raise the question of what awaits the price of the meme coin.
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