$ONG /USDT is making waves with a 19.17% surge, now trading at $0.3587! After reaching a high of $0.3899, the coin faced some correction but has managed to stabilize, showing renewed upward momentum. With strong trading volume of 60.92M ONG, there’s clear market interest driving this rise. If ONG can break above $0.3685, it could challenge its previous high and push further toward $0.39. However, if the price falls below $0.3436, we might see some consolidation before the next move. With the energy in the market, ONG is definitely one to watch as it could be primed for another exciting breakout!

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The S&P 500, the stock market's benchmark index, has made a stunning recovery, adding over $5 trillion to its market capitalization in just 20 days. This rally translates to about $250 billion in inflows per trading day, a significant bounce back after hitting its August 5 lows. This swift rebound effectively matched its annual return in that short period.

The Kobeissi Letter, an economics outlet on X (formerly Twitter), attributes this sharp recovery to a strategy that focuses on capitalizing on polarized sentiment in the market. The outlet emphasizes that following the crowd rarely pays off in the long run. The S&P 500’s Relative Strength Index (RSI), which dropped from over 70 to below 30 in less than a month, indicated that the index went from being overbought to oversold rapidly. The last time the RSI experienced such a significant drop was when the index bottomed out in early April.

This recent surge underscores the volatility and the importance of not succumbing to herd mentality in trading, as significant shifts in market sentiment can lead to substantial gains or losses in a very short time.
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$RSR

The S&P 500 has defied expectations with a remarkable $5 trillion surge in market capitalization in just 20 days. That's about $250 billion in daily inflows, reviving the index from its August 5 lows and effectively delivering its annual return in record time.

The Kobeissi Letter on X (formerly Twitter) attributes this swift rebound to a savvy strategy of leveraging market sentiment extremes. It warns against following the crowd, emphasizing that such herd mentality often fails in the long run. The S&P 500's RSI plummeted from overbought levels above 70 to oversold conditions below 30 in less than a month—a pattern last seen when the index hit rock bottom in early April.

This dramatic turnaround underscores the volatile nature of the market and the potential pitfalls of succumbing to collective behavior. Keep a sharp eye on sentiment shifts, as they can lead to significant market moves in an astonishingly short time.

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$RSR

RSRUSDT Perp 0.00524 +5.64%
RONIN 1.584 +4.34%

Binance, the world’s leading cryptocurrency exchange, has just introduced an exciting update for traders. On September 4, 2024, at 4:00 p.m. (ET), Binance will launch four major new trading pairs, providing users with fresh opportunities to diversify their portfolios:

AAVE/USDC
STMX/TRY
SUN/TRY
TRX/USDC

These new trading pairs allow for greater flexibility in trading strategies, offering options for both established and emerging cryptocurrencies. Binance continues to expand its offerings, boosting liquidity across the platform and making it easier for users to enter and exit positions.

In addition, Binance will enable trading bots for pairs such as DOGS/USDT, RENDER/USDT, REZ/USDT, ZK/USDT, and ZRO/USDT. Whether you’re using spot grid, spot DCA (cost averaging), or smart positions, these tools are designed to help optimize trades and maximize potential returns.

As the crypto market shows mixed signals, historical data indicates that September has traditionally been a bearish month for Bitcoin, while October tends to be more bullish. With these new opportunities, traders can take advantage of Binance’s advanced tools and strategies.

Mark your calendars for September 4th and get ready to explore these new pairs. Plan your strategy and stay ahead in your crypto journey
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