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The Crypto Basic
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4 Russian Nationals Okhotnikov, Oblamska, Sergeev, and Maslakov, the founders of the dubious cryptocurrency investment platform Forsage Indicted in Running a $340 Million Crypto Ponzi Scheme by US authorities.
#Forsage
#crypto2023
#Cryptonews
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With Bitcoin rebounding significantly in the last 24 hours, the altcoin segment is gaining momentum. Amid improving conditions for altcoins, #Solana ’s market price has increased by 2.17% over the past 24 hours. SOL Price Analysis In the 4-hour chart, Solana’s price trend showcases a bearish influence. However, the underlying support indicates several technical signals pointing to a potential reversal rally. For instance, it shows a descending broadening wedge pattern, typically considered bullish, increasing the likelihood of a breakout. The price trend within the pattern suggests a bullish reversal from the support trend line. Additionally, the reversal forms an Adam and Eve pattern with a neckline near the $198 level. Slightly below the $200 psychological mark, a breakout above the neckline could trigger an explosive parabolic rally. Furthermore, the recovery has surpassed the 50-EMA line and the 23.6% Fibonacci level at $196.36. During the recovery, the 4-hour RSI has remained above the 50% level, indicating increased buying pressure. Moreover, sustained support above the 50-EMA line on the 4-hour chart enhances the chances of an uptrend continuation. As a result, the technical indicators are gradually signaling a buying opportunity for Solana in the short term. #CryptoNewss Solana Price Chart
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As #Bitcoin ’s price resurfaces above the $98,000 mark, its market cap is closing in on the $2 trillion valuation once again. Over the past 24 hours, Bitcoin has increased by 4.56%, signaling a bullish recovery. Amid the BTC price surge, the crypto market is witnessing dramatic rebounds in altcoins, driving liquidations from shorts to $149.46 million. However, the total liquidation has reached $252.67 million, including $103.22 million worth of long-side liquidation. BTC Price Analysis In the 4-hour chart, BTC’s price action showcases a double-bottom reversal from the crucial support of the $93,000 level. As predicted in our previous article, BTC bounced back to surpass the $97,000 level with a morning star pattern on the daily chart. Currently, the double-bottom reversal in the 4-hour chart is testing the neckline at the $99,000 level. The bullish recovery has resulted in a positive crossover between the 20 and 200 EMA lines. Meanwhile, the current price action ranges between 50 and 100 EMAs in the 4-hour chart. Furthermore, the 4-hour RSI line has crossed above the halfway level, signaling a boost in buying pressure. Hence, the technical indicators are gradually turning bullish, increasing the chances of a breakout rally. #CryptonewswithJack
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