$WLD has shown varied action over the past trading sessions. Recent closing prices have displayed a mix of upward and downward movements, highlighting a market that is currently in a consolidation phase. Despite the lack of a clear trend, examining key technical indicators can provide valuable insights for potential trading opportunities.
Focusing on key resistance and support levels, the first major resistance level to watch is $2.483. A break above this level could signal the beginning of a bullish trend. If the price moves past $2.483, the next significant resistance point at $2.745 could come into play, leading to substantial upward momentum. The upper resistance level at $2.78, if surpassed, might confirm a strong bullish reversal.
On the downside, the initial support level is at $2.258. Holding above this can prevent further downward pressure. A critical support level is found at $2.199, and a drop below this could accelerate the selling pressure. The lower support level at $1.835 may act as a strong defensive line against further declines.
Examining the Exponential Moving Averages (EMA), the 9 EMA currently trends below the 20 EMA, indicating a bearish sentiment in the short term. The prices hovering around these moving averages suggest a market in flux, waiting for a decisive move. Should the 9 EMA cross above the 20 EMA, it could be a signal for a bullish shift.
The Moving Average Convergence Divergence (MACD) values indicate a bearish trend, as the MACD line remains below the signal line. However, the histogram shows diminishing negative values, hinting at a potential slowing of bearish momentum.
The Relative Strength Index (RSI) levels, hovering between 33 and 42, reflect a market that is approaching oversold conditions but is not yet there. An RSI below 30 would typically indicate a stronger buy signal, while a movement above 70 would indicate overbought conditions. #worldcoin #WLD The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Bonk Price Update: Technical Indicators and Key Levels
In the latest analysis of the #Bonk price, the cryptocurrency has shown a mixed performance, with closing prices gradually decreasing from $0.00003103 to $0.00002888. The 9 EMA and 20 EMA have both been trending downward as well, indicating a bearish sentiment. The 9 EMA, currently at $0.00002983, is also below the 20 EMA, which stands at $0.00002999, reinforcing the bearish outlook. However, this downward trend appears to be losing momentum, suggesting potential stabilization or reversal.
For traders looking to identify critical levels, $BONK has key resistance points at $0.00003047, $0.00003161, and $0.00003248. Should the Bonk price break through these levels, it could signal a bullish trend reversal. On the downside, support levels are found at $0.00002740, $0.00002691, and $0.00002604. A break below these levels could lead to further declines, making them crucial for setting stop-loss orders.
The MACD indicator shows a bearish trend, with the MACD line consistently below the signal line and the histogram in negative territory. This suggests a weakening momentum, with recent values indicating a potential shift in trend. The RSI, currently around 44.77, has moved from overbought to neutral territory, implying that selling pressure has eased and the market could be preparing for a consolidation phase. #BONK #altcoins #Memecoins The full analysis and trade strategy were originally posted on ecoinimist.com.
Bearish Pattern Forms on ETH’s Chart as SEC Approves Ethereum ETF Listings
The #Ethereum price managed to print a slight gain over the past 24 hours to trade at $3,497.30 at press time. This slight uptick in the $ETH ETH price comes after the U.S. Securities and Exchange Commission (SEC) approved the listing of multiple spot Ethereum #ETFs (exchange-traded funds). A Bearish Chart Pattern Forms on ETH’s Daily Chart
Daily chart for ETH/USDT (Source: TradingView) The Ethereum price was rejected by the major resistance level at $3,555 in the last 48 hours, resulting in a retracement to the 9 Exponential Moving Average (EMA) line. If the leading altcoin falls below this technical crutch, ETH might be at risk of falling to the $3,351.15 support, which is also confluent with the 20 EMA line. Traders and investors will want to take note of the bearish rising wedge pattern that has formed on ETH’s daily chart. This specific pattern suggests the Ethereum price might undergo a strong correction. If this pattern is validated, the crypto’s price could fall below the $3,351.15 support and possibly fall to as low as $3,094.39 in the short to medium term. However, the Ethereum price might still bounce off of the $3,351.15 support if the rising wedge pattern plays out. This could be a pull back before the altcoin rallies above $3,555 to potentially rise to $3,677.31. This potential price drop might not even happen if ETH manages to close a daily candle above $3,555 within the next 3 days. In this alternative scenario, the Ethereum price might attempt a challenge at the aforementioned $3,677.31 resistance. Technicals Warn the Ethereum Price Might Pull Back Technical indicators on ETH’s daily chart warn the Ethereum price might drop in the next 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are on the verge of triggering major bearish flags. Although the MACD line is currently positioned bullishly above the MACD Signal line, the narrowing gap between the two indicators warns that the positive cycle might soon come to an end. Meanwhile, the RSI is closing in on its Simple Moving Average (SMA) line on the daily chart, which could signal a bearish shift in strength if the two lines cross in the next 48-72 hours. #ETHETFS #ETHETFsApproved
Bullish Signals Flashing for XRP Price: Next Big Move?
The $XRP price has shown a series of upward movements in recent sessions, reflecting a bullish sentiment in the market. Recent closing prices have displayed a steady climb from $0.5946 to $0.6123, suggesting an overall upward trend. The 9 EMA (Exponential Moving Average) has crossed above the 20 EMA, further signaling a bullish trend. This crossover is a key indicator that the short-term momentum is in favor of the bulls, potentially attracting more buying interest.
Meanwhile, the MACD (Moving Average Convergence Divergence) indicator also supports the bullish outlook. The MACD line has consistently stayed above the signal line, with a positive histogram indicating increasing momentum. Rising MACD values also suggest that the bullish momentum is gaining strength, and the crypto could see further upward movements if this trend continues. However, traders should be cautious as the histogram values are showing signs of slight divergence, which might indicate a possible slowdown in the momentum.
The RSI (Relative Strength Index) is currently in the range of 64 to 65, which is below the overbought threshold of 70. This indicates that while the asset is experiencing bullish momentum, it has not yet entered the overbought territory, leaving room for further upward movement before a potential pullback.
The next key resistance level to monitor is $0.626. A break above this level could pave the way for further gains, potentially attracting more buyers into the market. On the downside, immediate support is seen at $0.5822. A drop below this level could indicate a reversal of the current trend, leading to a test of lower support levels at $0.5494 and $0.528. #Ripple #XRP #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
CoinShares Reports $1.35 Billion Inflow into Digital Asset Investment Products
CoinShares has announced a significant milestone, reporting a $1.35 billion inflow into digital asset investment products over the past seven days. This substantial influx highlights growing investor confidence in the digital asset market, bringing the total inflows over the last three weeks to an impressive $3.2 billion. The CoinShares report revealed a parallel trend in market sentiment, with short-#Bitcoin (BTC) exchange-traded products (ETPs) experiencing $1.9 million in outflows. This shift away from bearish positions indicates a growing bullish sentiment among investors. Positive Market Sentiment for BTC and ETH The report put the spotlight on a notable shift in sentiment towards Bitcoin and Ethereum (ETH). Since March, short-Bitcoin products have seen a total of $44 million in outflows, amounting to over 55% of assets under management (AUM). This change is attributed to the positive sentiment following Bitcoin's halving event in mid to late April. Ethereum also performed robustly, attracting $45 million in inflows over the past week. This performance pushed its total year-to-date (YTD) inflows to $103 million, surpassing Solana (SOL), which has $71 million YTD inflows. Last week, SOL saw $9.6 million in inflows, trailing behind ETH in terms of overall investor interest. Regional Inflows and Outflows The United States led the charge in digital asset inflows, contributing $1.3 billion of the total $1.35 billion in the past week. Switzerland followed with $66 million in inflows. Conversely, Brazil and Hong Kong saw outflows of $5.2 million and $1.9 million, respectively. On a related note, BlackRock, the world’s largest asset manager, reported a record $10.6 trillion in AUM as of the end of the fourth quarter. This milestone marks a $1.2 trillion year-over-year growth for the firm, driven in part by a surge in ETF inflows in Q1. Larry Fink, CEO of #BlackRock , attributed this growth to the firm's strong performance in private markets, alongside significant contributions from retail investors and increasing flows into #ETFs . The firm’s ability to attract substantial investments underlines the growing confidence in the broader financial market, including digital assets. $ETH $BTC
Dogecoin Price Prediction: Support, Resistance, and Trading Tips
This #Dogecoin price prediction comes after recent closing prices for the meme coin have shown a slight upward trend, with the latest close at $0.13694. The 9 EMA is currently at $0.13554, slightly above the 20 EMA, which stands at $0.13173. This alignment indicates a short-term bullish trend, as the shorter EMA is above the longer EMA, suggesting positive momentum.
The MACD indicator, a crucial momentum indicator, reveals a bullish sentiment as well. The MACD line is above the signal line, and the histogram is positive, albeit with some diminishing values. The latest MACD reading is 0.00427 with a signal at 0.00373, and a histogram of 0.00055. Although the histogram is shrinking, indicating a potential slowdown in bullish momentum, the overall position of the MACD remains positive.
The Relative Strength Index (RSI) provides additional context, currently showing a value of 63.96. This positions DOGE slightly below the overbought threshold of 70, indicating that while there has been significant buying pressure, it is not yet at a critical overbought level. Previous RSI values were higher, suggesting that the buying momentum has cooled off slightly.
Meanwhile, the immediate resistance is found at $0.13713, followed by more significant levels at $0.14474 and $0.14776. These levels are crucial for any upward movement, and breaking through them could indicate further bullish trends.
On the downside, support levels are seen at $0.1368, $0.13533, and $0.13355. These levels are critical in preventing any significant downturns. If the price breaks below these supports, it may signal a bearish reversal or a period of consolidation. $DOGE #Memecoins #DOGE The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Joe Biden Withdraws: Could a Trump Return Boost Bitcoin or Will Harris Step In?
United States President Joe Biden shocked the markets when he announced that he would not seek a second term in the White House, sparking diverse reactions among analysts trying to predict the future of #Bitcoin❗️ (BTC) and other crypto assets. Immediately following Biden's announcement, the BTC price dipped by as much as 2.8%, touching a low of $65,800. However, it quickly rebounded to trade at $67,916 at press time.
Market Reactions to the Joe Biden Announcement eToro market analyst Josh Gilbert described Biden’s sudden move as a “win for crypto assets.” He emphasized that former President Donald Trump’s heightened chances of re-election could be a significant boost for the cryptocurrency market. Gilbert stated: “The longer that we see Trump staying ahead in the election odds, the more crypto assets will price in his victory." However, he also noted the uncertainty of the situation, highlighting that with three months left in the election race, significant changes could still occur. Trump's Crypto-Friendly Stance Trump has recently integrated Bitcoin and cryptocurrencies into his re-election campaign. On June 14, he declared that he would end the Biden administration’s “war on crypto” if re-elected. Markus Thielen, founder of 10X Research, also suggested that Trump might make a significant announcement regarding Bitcoin at the upcoming Bitcoin 2024 conference in Nashville on July 25. Thielen pointed out that the US government currently holds 212,800 BTC, valued at approximately $15 billion. In contrast, it holds around $600 billion in gold reserves. If the government were to double its Bitcoin holdings, it would have a comparable price impact to the net inflows into spot Bitcoin exchange-traded funds (ETFs) year-to-date. Looking ahead, Gilbert anticipates a bullish trend for Bitcoin, driven by the upcoming launch of spot Ethereum (ETH) ETFs in the US. This development could serve as a catalyst for growth across the crypto market. Caution Amid Optimism Despite the optimism, some analysts urge caution. Swyftx analyst Pav Hundal warned that while Biden’s withdrawal might boost Trump’s chances, the recent bounce in crypto prices might not be directly linked to this political shift. Hundal highlighted the importance of learning from past experiences, such as the Bitcoin #ETF speculation, which saw temporary price stalls before an uptrend. “Learning from the Bitcoin ETF experience, we could see a temporary stalling of prices before the uptrend continues,” he said. “This recent surge might be attributed to early Ethereum ETF speculation, and it’s important for investors to stay cautious and not get overly excited in the short term.” Gary Black, Managing Partner at The Future Fund, also expressed skepticism. He reminded his 433,000 followers on X that a Trump victory was not guaranteed, given the public’s distrust of Trump following the events of Jan. 6. “Those who think Trump/Vance will win by a landslide are getting ahead of themselves,” Black commented in a July 22 post. “The American public doesn’t trust Trump after the events of Jan 6th. I was no fan of Biden or Kamala, but Dems could still nominate Newsom, Michelle Obama, or another leading Dem to be their Presidential candidate.” While Biden’s decision not to seek re-election has generated optimism among some crypto enthusiasts, the political landscape remains uncertain. Analysts recommend a cautious approach, advising investors not to get too excited about a potential Trump victory just yet. As the election race progresses, the interplay between politics and the crypto market will continue to unfold, potentially shaping the future of digital assets. Traders on the decentralized betting platform Polymarket are confident that Harris could be the next Democratic nominee for this election. “Yes” shares on the platform surged to 81 cents, meaning traders forecast an 81% likelihood that she will replace Biden.
Bets on who will win this Presidential election (Source: PolyMarket) Meanwhile, “Yes” shares for Trump to win the 2024 Presidential Election stood at 64 cents, indicating a 64% chance, according to traders on Polymarket. Shares in favor of a Harris victory stood at 29 cents, while “Yes” shares for Michelle Obama stood at 3 cents. $BTC #Biden #Trump
Ethereum on the Edge: Must-Watch Resistance and Support Levels
#Ethereum has been exhibiting interesting patterns on the 4-hour chart. Recent closing prices indicate a slight consolidation phase, with the $ETH price oscillating around the $3,500 mark. The latest closing prices were $3,514.45, $3,517.5, $3,510.47, $3,485.01, and $3,498.19, suggesting a battle between bullish and bearish sentiments.
Exponential Moving Averages (EMAs) provide a clearer picture of the market sentiment. The 9 EMA, currently at $3,494.46, suggests a short-term trend aligning with the recent price movement. Meanwhile, the 20 EMA, at $3,471.10, indicates a more stable, albeit slightly bullish, trend over the medium term. The fact that the 9 EMA is above the 20 EMA is a bullish signal, suggesting that short-term momentum is slightly stronger than the medium-term trend.
Meanwhile, the MACD indicator, however, presents a more complex picture. The MACD line is at 33.45, with the signal line at 36.91, resulting in a histogram of -3.46. This bearish divergence indicates a potential downward momentum, which aligns with the recent price drops. The RSI, which has dropped from 62.56 to 58.27, further supports this bearish outlook, suggesting that Ethereum may be experiencing a period of selling pressure.
Ethereum is currently facing a resistance level at $3,498.23, with further resistance at $3,516.61 and $3,519.00. If the price manages to break above these levels, it could signal a bullish continuation, potentially attracting more buying interest. On the downside, Ethereum has support levels at $3,491.44, $3,475.00, and a more significant support at $3,447.75. A break below these support levels could indicate a bearish trend, with the price potentially moving lower. #ETHETFS #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Bitcoin Stays Above 66K CryptoQuant Says Large Sellers Are “Showing Signs of Exhaustion”
CryptoQuant says Bitcoin whales are easing their selling pressure as the crypto continues to strengthen over the past week, maintaining a value above $66,000. "Large Bitcoin sellers are showing signs of exhaustion, and valuation metrics indicate positive momentum," stated CryptoQuant head of research Julio Moreno in a July 20 X post, referring to Bitcoin investors with balances between 1,000 and 10,000 BTC. Moreno also noted that "realized profits are minimal compared to March or May," when Bitcoin exceeded $71,000 in both months. Bitcoin reached its all-time high of $73,679 on March 13. Bitcoin Technical Analysis The Bitcoin price action over the past few trading sessions has presented a nuanced picture for traders, with both opportunities and risks evident on the 4-hour chart. As of the latest data, BTC's closing prices show a range-bound movement, indicating a potential consolidation phase. The most recent closing prices hover around $66,860.38, with key resistance and support levels identified that will likely play crucial roles in the coming sessions. Bitcoin faces immediate resistance at $67,036, a level that, if breached, could lead to a retest of the higher resistance zones at $67,157.26 and $67,195.1. These resistance levels are crucial as breaking above them could signal a bullish continuation, potentially drawing in more buying interest and pushing prices higher. On the downside, support is found at $66,823.63. If $BTC fails to hold above this level, it could seek support at $66,470.01 and $66,244.48. These support zones are vital for maintaining the current price structure, and a breakdown below them could trigger a deeper correction. The 9 EMA (Exponential Moving Average) and 20 EMA provide mixed signals. Currently, the 9 EMA is above the 20 EMA, which is a bullish signal. However, the convergence of these EMAs suggests a possible slowdown in bullish momentum. Traders should watch for a potential crossover which could indicate a shift in trend. MACD (Moving Average Convergence Divergence) analysis reveals a diminishing bullish momentum. The histogram has turned negative, indicating bearish pressure might be increasing. This shift suggests caution, as the MACD line is nearing the signal line, potentially indicating a bearish crossover. RSI (Relative Strength Index) values, though still in bullish territory, have shown a decline from overbought levels. An RSI reading above 70 typically indicates overbought conditions, but the recent dip suggests a cooling off period. If RSI continues to fall towards 50, it could reinforce the bearish outlook. For traders considering long positions, a break and close above the $67,036 resistance could be an entry signal, targeting the next resistance levels at $67,157.26 and $67,195.1. Conversely, if Bitcoin fails to sustain above $66,823.63 and falls towards the $66,470.01 support, it could be an opportune moment for short trades, with a close eye on further downside to $66,244.48. In summary, while the #Bitcoin price displays signs of both bullish and bearish potentials, traders should remain vigilant of key levels and indicator signals. The market's next move will likely hinge on these pivotal resistance and support zones. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. #BTC☀️
ICP Crypto on the Brink: See What’s About to Happen Next!
The recent performance of $ICP crypto on the 4-hour chart presents an intriguing landscape for traders, marked by a series of technical indicators that signal potential movements in the market. Closing prices have shown fluctuations, with the latest values indicating a slight bearish trend as the price closed at $10.208 after previously reaching $10.343.
The 9 EMA has consistently stayed above the 20 EMA, suggesting a prevailing bullish trend. However, the recent slight dip in the 9 EMA, now at $10.178, compared to its previous higher points, hints at a possible weakening momentum. This shift warrants close attention as it may signal a trend reversal if the pattern continues.
The Moving Average Convergence Divergence (MACD) further substantiates these observations. The MACD line has been converging with the signal line, resulting in diminishing histogram values. Meanwhile, the most recent histogram value of -0.023 indicates growing bearish momentum, a notable shift from previous positive values. This convergence suggests a potential bearish crossover, which could lead to a further decline in prices if the trend persists.
The Relative Strength Index (RSI) has shown considerable fluctuation, currently positioned at 59.70. This value indicates that #ICP crypto is neither overbought nor oversold, but the recent decline from 65.57 reflects waning bullish strength. Traders should monitor the RSI closely for signs of either a rebound towards bullish territory or a further decline indicating increasing bearish pressure.
Key levels to watch include the immediate support at $9.962. Should ICP fall below this level, the next critical support lies at $9.728, followed by $9.421. Conversely, resistance levels at $10.252 and $10.353 are crucial for determining potential exit points for long trades. A break above $10.353 could lead to further gains, with the next significant resistance at $10.752. #altcoins The full analysis and trade strategy were posted on www.ecoinimist.com.
Shiba Inu Price Prediction As Technicals Send Mixed Signals
The Shiba Inu price has shown a mixed sentiment on the 4-hour chart over the past 48 hours. Recent closing prices highlight a slight uptrend but also suggest potential resistance and support challenges.
$SHIB is currently trading near a significant resistance level at $0.00001810, which it needs to break to confirm a bullish trend. Further resistance levels are observed at $0.00001818 and $0.00001875. On the downside, #SHIB finds support at $0.00001776 and $0.00001765, with a critical support level at $0.00001704. Price movements between these levels will be crucial in determining SHIB's short-term direction.
9 EMA and 20 EMA values are converging, indicating a potential shift in trend. The 9 EMA has been trending slightly higher than the 20 EMA, suggesting a short-term bullish outlook. However, MACD values reveal a bearish divergence, with the MACD line consistently below the signal line, albeit the histogram indicates a decreasing bearish momentum. This combination suggests that while there is short-term bullish sentiment, the overall trend may still be bearish.
Meanwhile, RSI values have fluctuated around the neutral 50 mark, reflecting the indecision in the market. Recent readings do not indicate an overbought or oversold condition, implying that the Shiba Inu price might continue to trade sideways unless a significant movement occurs. #Memecoins #altcoins #MemeWatch2024 The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Solana Price Prediction: SOL Could Undergo a Major Move
The #Solana price is exhibiting intriguing patterns on the 4-hour chart. Recent closing prices show a steady upward trend, with the latest close at $170.12. This price action is reflected in the 9 EMA, which is consistently above the 20 EMA, indicating a strong short-term bullish momentum.
Key support levels to watch are at $169.12, $168.29, and $168.28. These levels have shown resilience in the past and could act as strongholds for buyers looking to enter or add to their positions. On the upside, resistance levels are present at $171.04, $172.35, and $174.40. Breaking through these levels could propel the Solana price to new highs, drawing in momentum traders and potentially leading to a sustained rally.
The MACD indicator further supports the bullish outlook. The MACD line has been consistently above the signal line, with a positive histogram indicating growing momentum. This bullish crossover and the expanding histogram suggest that the buying pressure is still in play and could push prices higher in the short term.
Meanwhile, RSI values, currently in the range of 71 to 74, indicate that the Solana price is approaching overbought territory. While this suggests that the asset is experiencing strong buying interest, it also warrants caution as the potential for a pullback increases. Traders should monitor the RSI for any signs of divergence or reversal patterns that might indicate a cooling-off period. #SOL $SOL #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
The XRP Price Could Surge to $0.626 as It Approaches Resistance
In the recent analysis of the $XRP price on the 4-hour chart, the crypto has shown a series of fluctuating closing prices, peaking at $0.5921. The 9 and 20 Exponential Moving Averages (EMAs) indicate a gradual upward trend, with the 9 EMA at $0.5762 and the 20 EMA slightly lagging at $0.5726. This configuration typically suggests a short-term bullish sentiment.
Moving Average Convergence Divergence (MACD) values exhibit a narrowing gap between the MACD line and the signal line, with the histogram showing diminishing negative values. This transition implies a weakening bearish momentum, hinting at a potential bullish crossover in the near future. Additionally, the Relative Strength Index (RSI) has risen to 59.01, indicating a shift towards bullish territory but not yet reaching overbought levels.
Given these indicators, #XRP appears to be approaching a critical juncture. A sustained move above the immediate resistance level at $0.5921 could propel the price towards the next significant resistance at $0.626. Conversely, should the price fail to maintain its upward trajectory, it may find support at the levels of $0.5494 and $0.528. A further decline could see the XRP price testing the strong support at $0.5279. #Ripple #altcoins #TrendingInvestments The full analysis and trading strategy were originally posted on www.ecoinimist.com.
Hamster Kombat Players Targeted by Scammers Amid Viral Popularity
Players of the wildly popular mobile game Hamster Kombat are finding themselves the targets of increasingly sophisticated phishing attacks. The Telegram-based game, which has rapidly amassed a massive user base, is being exploited by scammers looking to cash in on its viral success. Phishing Attacks Exploiting Hamster Kombat Popularity Hamster Kombat, known for its tap-to-earn gameplay, has drawn in 239 million users in just 81 days, with a staggering 4-5 million new players joining daily. This meteoric rise has not gone unnoticed by cybercriminals. Recently, cybersecurity firm Kaspersky uncovered a series of fraudulent schemes specifically targeting the game's players. Olga Svistunova, a security expert from Kaspersky, highlighted the severity of the situation in a statement a recent interview: “Our team has exposed a series of fraudulent schemes targeting users of Hamster Kombat. In one scheme, scammers lure victims with promises of converting in-game coins to rubles through phishing links that require Telegram login credentials.” These phishing attacks are alarmingly effective. Once users enter their credentials, attackers gain access to personal accounts, enabling them to steal data, engage in blackmail, and send fraudulent messages. While the primary target appears to be players in Russia, Svistunova warned that fraudsters from other regions could adopt similar tactics. Rise of Fake Crypto Airdrops and Websites The allure of free cryptocurrency has also become a tool for scammers. Kaspersky reports that fake Hamster Kombat airdrops are being used to trick users into divulging their crypto wallet credentials. These fraudulent airdrops promise enticing rewards but lead to phishing sites designed to steal valuable information. “Scammers exploit the allure of free cryptocurrency by offering fake airdrops of Hamster cryptocurrency, aiming to steal crypto wallet information,” Svistunova explained. Additionally, fraudsters have set up phishing sites claiming to sell Hamster cryptocurrency at a discount, further deceiving users into compromising their crypto wallets. The Impact of Scams on the Crypto Industry These incidents are part of a broader trend of cyberattacks plaguing the cryptocurrency industry. Over the past 13 years, nearly $19 billion worth of digital assets have been stolen across 785 reported hacks and exploits. The largest single theft remains the 2019 Plus Token fraud, where attackers made off with $2.9 billion in Bitcoin and Ether. Phishing scams, in particular, have seen a dramatic rise. For instance, phishing attacks on the Base blockchain surged by 1,900% in March compared to January, resulting in an 18-fold increase in stolen crypto.
Lido DAO Price Watch: EMA, MACD, and RSI Indicators Explained
As of the latest analysis on the 4-hour chart, the Lido DAO price presents an intriguing scenario for traders with a mixed outlook from various technical indicators. Recent closing prices have shown fluctuations, suggesting a potential period of consolidation before a decisive move.
Recent action sees the Lido DAO price hovering around critical support and resistance levels. The immediate support is noted at $1.852 and $1.847, with a deeper support lying at $1.826. On the resistance front, the price needs to overcome hurdles at $1.94, $1.984, and $1.987 to confirm a bullish breakout.
The Exponential Moving Averages (EMAs) reflect a delicate balance between bullish and bearish sentiments. The 9 EMA has consistently remained above the 20 EMA, indicating a short-term bullish bias. However, the narrowing gap between these two EMAs signals potential caution ahead.
Meanwhile, the Moving Average Convergence Divergence (MACD) paints a nuanced picture. The MACD line is currently below the signal line, and the histogram's negative values suggest a bearish momentum. This could imply a potential downside if the bearish trend continues.
The Relative Strength Index (RSI), currently in the 49-57 range, indicates a neutral stance. This suggests that the Lido DAO price is neither overbought nor oversold, giving room for movement in either direction based on upcoming market catalysts. $LDO #LDO #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Chainlink Crypto Price Woes: Key Indicators and Strategies
The 4-hour chart for the #Chainlink crypto reveals interesting insights into its recent movements and potential future direction. Over the past few sessions, the $LINK price has shown a slight downward trend, closing at $13.486 in the latest session, down from a recent high of $13.644. This decline comes despite attempts to break through resistance levels at $13.559 and $13.69, suggesting a struggle to maintain upward momentum.
Examining the Exponential Moving Averages (EMAs), the 9 EMA is currently at $13.663, and the 20 EMA is slightly higher at $13.755. The fact that both EMAs are above the closing prices indicates bearish momentum. This is further supported by the MACD, which has shown a series of declining values, with the latest histogram reading at -0.095, reflecting bearish sentiment. The MACD line crossing below the signal line confirms this bearish trend.
Meanwhile, the Relative Strength Index (RSI) has been hovering around the mid-40s, with a recent reading of 41.91. This suggests that the Chainlink crypto is neither overbought nor oversold, but it is leaning towards bearish territory. An RSI below 50 typically indicates bearish momentum, aligning with the observations from the EMAs and MACD.
For potential movements, the #LINK price must decisively break through the resistance levels at $13.559 and $13.69 to establish a bullish trend. Failure to do so may lead to further declines towards the support levels at $13.306 and $13.03, with a significant support level at $12.963. If LINK falls below $13.306, traders should watch for signs of stabilization around $13.03 to consider potential long entry points. #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
WazirX Hacker Converts $150 Million in Altcoins to ETH Following $235 Million Exploit
Following the $235 million exploit of the cryptocurrency exchange WazirX, the hacker behind the breach has converted nearly $150 million worth of the stolen altcoins into Ethereum (ETH). Between July 18-19, the hacker converted substantial amounts of various altcoins to ETH. According to blockchain analytics firm Spot On Chain, the conversion included $90.2 million worth of Shiba Inu (SHIB), $10.2 million in Polygon (MATIC), and nearly $7.5 million in Pepe (PEPE). These transfers have escalated the total stolen funds held in Ethereum to $201 million, up from the initial $52 million. Reasons Behind the Conversion The hacker’s decision to convert ERC-20 tokens to Ethereum is rooted in several factors. ETH is known for its liquidity and lack of a blacklisting feature, making it a safer asset for illicit transactions. Spot On Chain highlighted that some ERC-20 tokens have contract functions that allow addresses to be blacklisted, a feature absent in ETH. "Swapping to Ether quickly can help the hacker secure their funds before any preventative measures are taken by authorities or the issuers of centralized tokens," commented blockchain security firm PeckShield. A prime example of this preventative measure is stablecoin issuer Tether, which has blacklisted numerous wallets involved in suspicious transactions. Ethereum's liquidity and stability make it a preferred choice for laundering funds through cryptocurrency exchanges and mixer protocols. Blockchain security firm Beosin noted that ETH's price stability and ease of movement across various platforms make it an attractive option for those looking to obfuscate the origin of stolen funds. The hack has had a noticeable impact on the market. SHIB has seen a nearly 7% drop since the incident, while ETH's price has only marginally decreased by 0.1%. The hacker still holds approximately $12 million worth of Chromia (CHR), Celer Network (CELR), Frontier (FRONT), and Ooki (OOKI) tokens, according to Spot On Chain. WazirX's Response Following the breach, WazirX halted withdrawals on July 18. The security breach wiped out nearly half of the exchange’s reserves, as per their June proof-of-reserves report. In a statement on X, WazirX declared, "This is a force majeure event beyond our control, but we are leaving no stone unturned to locate and recover the funds. We have already blocked a few deposits and reached out to concerned wallets for recovery." Blockchain forensics firm Elliptic has indicated that specific patterns and techniques used in the WazirX attack suggest the involvement of North Korean hackers. If confirmed, this would add to the growing list of high-profile crypto heists attributed to North Korea.
Notcoin Price Under Pressure: What Traders Need to Know
The #Notcoin price on the 4-hour chart presents an intriguing picture for traders and investors. Closing prices have been fluctuating between $0.01548 and $0.01585, indicating a relatively stable but slightly downward trend. This stability is mirrored in the technical indicators, which provide critical insights into the potential future movements of this cryptocurrency pair.
Currently, $NOT faces significant resistance at the $0.01596 mark, with further resistance levels at $0.01615 and $0.016314. On the downside, key support levels are identified at $0.01536, $0.015096, and $0.015084. These levels are crucial as they represent potential points where the price could either bounce back or continue its descent.
The 9 EMA and 20 EMA values suggest a bearish crossover, with the 9 EMA consistently below the 20 EMA. This pattern often signals potential downward pressure on the price. MACD values further reinforce this bearish outlook, with the MACD line remaining below the signal line and the histogram showing negative values. This alignment indicates that bearish momentum is currently stronger than bullish momentum.
Meanwhile, RSI levels have fluctuated between 44.15 and 49.03, hovering in the mid-range without signaling any extreme overbought or oversold conditions. An RSI below 50 typically suggests bearish sentiment, which aligns with the other indicators pointing towards potential downward movements. #NOT #altcoins #TrendingInvestments The full analysis and trade strategy were originally posted on www.ecoinimist.com.
Bitcoin Miners' Influence on BTC Price Diminishes Amid Market Shifts
Recent research by analytics firm Glassnode reveals that Bitcoin miners have minimal impact on BTC price action during market sell-offs. This finding, highlighted in Glassnode's weekly newsletter "The Week Onchain," challenges long-standing beliefs about the market influence of Bitcoin miners. Centralized Exchanges and ETFs Dominate Market Influence Despite facing challenges since the latest block subsidy halving, which reduced the block reward by 50%, Bitcoin miners' influence on market movements is overshadowed by larger investor entities. Glassnode's analysis indicates that centralized exchanges and United States spot #Bitcoin exchange-traded funds (ETFs) exert more significant control over BTC price dynamics. As of July 2024, centralized exchanges hold over 3 million $BTC , while #ETFs manage 887,000 BTC. In contrast, wallets affiliated with known miners contain approximately 705,000 BTC. This disparity shines a spotlight on the outsized role of exchanges and ETFs in the Bitcoin market. "Throughout history, large coin holdings have often been custodied by market-agnostic entities, such as the Mt.Gox trustee, tasked with holding coins recovered after the exchange's collapse and bankruptcy," Glassnode explained. "Similarly, significant coin volumes have been seized by government law enforcement and are periodically sold off in tranches." Glassnode further noted that institutional-grade custodians and ETFs have recently become prominent players. The suite of 11 new U.S. spot ETFs has accumulated a combined 887,000 BTC, making them the second-largest pool of Bitcoin monitored by Glassnode. Exchange and ETF Bitcoin Balances Versus Miner Holdings On a weekly basis, Glassnode observed that miner balances fluctuate by about 500 BTC—a stark contrast to the balance changes of exchanges and ETFs, which can vary by approximately 4,000 BTC each week. This discrepancy suggests that the market influence of exchanges and ETFs is four to eight times greater than that of miners. "Miners have historically been a primary source of sell-side pressure; however, their supply relevance decreases with each halving event," "The Week Onchain" noted. Recent market dynamics, such as the German government's multi-billion-dollar #BTC distribution, have further shifted the focus away from miners. While substantial, on-chain data suggests that markets had already priced in Germany's distribution in advance. "The Bitcoin market absorbed a significant 48,000 BTC over the past month as the German Government completed their balance sheet distribution," Glassnode concluded. "This complete exhaustion of the German Government sell-side pressure has provided the market with ample relief, while initial signs of renewed demand have stimulated positive price action." Optimism for Bitcoin Miners' Future Despite their reduced market influence, the future may hold promise for Bitcoin miners. As previously reported by Cointelegraph, Bitcoin's hashrate has attempted to reach all-time highs in the past week, and the hash ribbons indicator suggests improving profitability conditions. The hash ribbons indicator, which measures 60-day and 30-day rolling hashrate, indicates that a miner "capitulation" phase is ongoing. "The faster moving average is growing again and will soon surpass the slower one. This means that the total hash rate, which is correlated with the price, has started to grow again," on-chain data platform Bitcoin is Data shared on X on July 15.
PEPE Price Analysis: Key Support and Resistance Levels Revealed
As of the latest analysis, the $PEPE price exhibits notable activity on the 4-hour chart, demonstrating potential opportunities for traders. Closing prices have seen minor fluctuations, indicating a stable yet cautious market sentiment.
The 9 Exponential Moving Average (EMA) shows a consistent upward trajectory, closing at approximately $0.00001192, suggesting short-term bullish momentum. This is further supported by the 20 EMA, which has also been on the rise, currently around $0.00001146. The convergence of these EMAs implies a potential continuation of the upward trend if the price remains above these averages.
Moving Average Convergence Divergence (MACD) values highlight a slight bearish divergence. The MACD line has been declining relative to the signal line, resulting in a series of negative histogram values. This indicates weakening bullish momentum, suggesting caution for traders considering long positions. However, the MACD values are still relatively close to the signal line, leaving room for potential bullish reversals if the market sentiment shifts.
Meanwhile, the Relative Strength Index (RSI) has fluctuated between 60.93 and 65.31, reflecting a moderately bullish outlook without reaching overbought territory. The RSI suggests that while there is buying interest, it is not overwhelming, which may point to a period of consolidation or a mild correction before any significant price movements.
Key support levels are identified at $0.00001167, $0.00001162, and $0.00001159. If the #PEPE price experiences downward pressure, these levels could serve as potential entry points for long positions, anticipating a bounce back. On the upside, resistance levels are marked at $0.00001214, $0.00001231, and $0.00001245. A breakout above $0.00001214 could signal further upward movement, making it a potential entry point for long trades. #Memecoins #altcoins #MemeWatch2024 The full analysis and trade strategy were originally posted on www.ecoinimist.com.