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Over the day, the price of the first cryptocurrency showed negative dynamics. Let's consider the timeframe of 4 hours.
On the chart there was a breakdown of the lower boundary of the pattern horizontal "price channel" 📊 The price has gone under the support of ~$66,400.
There are chances that there was a "false breakdown" on the chart. However, it should be understood that so far there has been no return behind the level.
In the future I would observe the price. There are chances that things will go sideways in the near term. However, globally I am also positive 📈
Analysis: The daily chart of BONDUSDT shows a falling wedge pattern. Keep an eye on the MA50 and the wedge resistance breakout before buying in. This setup hints at a potential bullish move if confirmed.
Price Targets: Look for targets at $3.425, $3.750, $4.075, $4.538, and $5.127. $BOND #DYOR
The market is starting to bounce back slowly, even though many expected Bitcoin to drop to $60,000 or lower yesterday. Notice that ETH is outperforming BTC in growth, which is very encouraging. A strong ETH indicates a strong altcoin market. While it's too early to talk about an altseason, once the S1 form for a spot ETF on ETH is approved, we will see a local altcoin pump. This should happen very soon, within two weeks, and the spot ETF on ETH will start trading 📊 $BTC $ETH $BNB
#BTC dropped to the expected level, and now a reversal is expected. H4 given a close below but not a problem as Daily TF made a rejection with that.
Bitcoin price today is $ 66,259 with a 24-hour trading volume of $ 102.76B, market cap of $ 1.31T, and market dominance of 53.60%. The BTC price decreased -1.28% in the last 24 hours.
#PEPE 💣 Would it be a miracle to buy this memecoin at 0.00001$ support or not? 🐝 There's no definite answer to that question, but I'm leaning more towards a positive response. Because even to an inexperienced eye, it’d be hard not to notice the "Elliott wave downward 1-5" on the chart. The final stage could give us an "absolute explosion" when entering the 5th long wave! It’s for this reason that buying at support looks so tempting! And the risks of such a purchase are minimal, usually if you manage to enter a position in this way, then such a deal is considered perfect. $PEPE #DYOR
#BTC_UPDATE :- #Bitcoin is forming a bullish ascending triangle pattern. The $64,400 support level is critical for BTC. We expect a bounce back from here, but losing this support could lead to a sharp market drop. Plan your trades accordingly.
I hope to bounce back from the support trade line .
$BTC showing bullish ascending triangle pattern; $64,400 is a key support level.. 🤔🤔$BTC #DYOR
#AXS moved as expected and failed to break the resistance level of $8.700-$8.400.
The specified resistance area was not fully consumed and invalidated the bullish scenario. The price left the small ascending channel that was formed in the 4-hour time frame and fell to the support level of $6.500-$6.300. Now, it will need to rebound to continue its ascent to challenge the resistance once again . Given its history of bouncing from critical demand levels, there is a possibility that #AXS could replicate this behavior and push upwards.
A breakdown below the demand area would negate the bullish outlook and potentially lead to extended declines.
Analysis: $TIA Celestia recently experienced a significant 65% retracement, finalizing an Inverse Cup and Handle pattern. This suggests a bearish outlook with a potential continuation of the downward trend. With the current price at $7.7, it is likely to retest the crucial support level at $5.
Price Targets: Given the bearish formation, the primary target is $5 as a key support level. If the price can hold above $7.7, there might be a chance to revisit higher resistance levels, but the focus is on the potential drop towards $5. $TIA #DYOR
Decentralized Finance (DeFi) is a rapidly growing sector within the cryptocurrency industry that aims to recreate traditional financial systems and services using blockchain technology. Unlike conventional financial systems that rely on centralized institutions like banks, DeFi operates without intermediaries, leveraging smart contracts on blockchain networks, primarily Ethereum.
Key Concepts of DeFi
1. Decentralization: - No Central Authority: DeFi platforms are decentralized, meaning they operate without a central governing body. This is made possible by using blockchain technology and smart contracts. - Trustless System: Users can interact directly with the DeFi protocols without needing to trust a central entity, reducing counterparty risk.
2. Smart Contracts: - Automated Agreements: Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute transactions when predefined conditions are met. - Transparency and Security: Smart contracts operate on blockchain networks, ensuring transparency, immutability, and security.
3. Interoperability: - Cross-Platform Functionality: Many DeFi protocols are designed to be interoperable, allowing different platforms and applications to interact and integrate with each other seamlessly. - Composable Ecosystem: DeFi projects can build on top of each other, creating a layered and composable financial system.
Major Components of DeFi
1. Decentralized Exchanges (DEXs): - Trading Without Intermediaries: DEXs allow users to trade cryptocurrencies directly with each other without relying on a centralized exchange. Examples include Uniswap, SushiSwap, and PancakeSwap. - Liquidity Pools: Users provide liquidity to the exchange by depositing their tokens into liquidity pools, earning fees in return.
2. Lending and Borrowing Platforms: - Peer-to-Peer Lending: DeFi platforms like Aave, Compound, and Maker enable users to lend their crypto assets to others and earn interest, or borrow assets by providing collateral. - Collateralized Loans: Borrowers must over-collateralize their loans to ensure the lender's security, reducing the risk of default.
3. Stablecoins: - Price-Stable Cryptocurrencies: Stablecoins are cryptocurrencies pegged to a stable asset like the US dollar, providing a stable store of value and medium of exchange. Examples include DAI, USDC, and Tether (USDT). - Algorithmic and Collateralized: Some stablecoins are algorithmically controlled, while others are backed by collateral.
4. Yield Farming and Staking: - Earning Rewards: Yield farming involves lending or staking crypto assets in DeFi protocols to earn returns, often in the form of additional tokens. - Incentivizing Participation: DeFi platforms incentivize users to provide liquidity or participate in the network by offering rewards.
5. Insurance: - Risk Management: DeFi insurance platforms like Nexus Mutual offer coverage for smart contract failures, hacks, and other risks associated with DeFi activities. - Decentralized Insurance Pools: Users can contribute to insurance pools and receive compensation in case of a claim.
Analysis: Let's dive into the XRP market and zoom in on its signals. This is XRPUSD on the daily interval. The chart shows XRP moving within a symmetrical triangle pattern. We could see a breakout or breakdown soon. Volume spikes indicate the potential for a significant move.
Price Targets: If XRP breaks upwards, the first target could be around $0.58 and potentially $0.66. On the downside, if it breaks lower, look for support at $0.52 and $0.49. Keep an eye on these key levels for potential entries and exits!$XRP #DYOR
Analysis: MATIC is currently trading at 0.5851 USDT, showing a downtrend on the daily chart. The price has been exhibiting consistent lower highs and lower lows, indicating bearish momentum. The price has recently dipped below a key support level near 0.6200 USDT.
Price Targets: If the bearish trend continues, the next support level to watch is around 0.5200 USDT. On the upside, potential resistance levels are at 0.6200 USDT and then at 0.7400 USDT. For a bullish reversal, breaking above 0.8000 USDT could signal further gains towards 1.0000 USDT.
Analysis: The FTM/USDT daily chart highlights key supply and demand zones with POIs and levels using Heikin Ashi candlesticks. The current price is 0.6084 USDT. The market shows a notable resistance around the 0.9500 USDT level and support near 0.5000 USDT.
Price Targets: Watch for a breakout above 0.9500 USDT for bullish potential, aiming for a target of 1.3000 USDT or more. Pressure below the support zone around 0.5000 USDT could push the price towards 0.4000 USDT or lower. Keep an eye on these levels for trade opportunities! $FTM #DYOR
$DATA is currently consolidating sideways within a support and resistance zone on a Lower Time Frame (LTF). The price is trading below the 200 EMA. It is anticipated to decrease from its current level and potentially test the support zone, indicating a favorable opportunity for a short entry.