Hold or Close? | Psalm2504 on Binance Square

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Hold  or Close?

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Dogwifhat (WIF) Price Analysis Dogwifhat (WIF) is trading between $1.40 and $1.60, with neither buyers nor sellers able to dictate substantial price movements for now. WIF has seen demand pick up at lower levels but is witnessing selling at rallies. As we can see in the price chart, it is also experiencing considerable volatility despite being confined to a narrow price range. WIF pushed above the 20-day SMA and $1.60 on Friday but quickly fell back due to growing selling pressure. After Friday’s increase of 5.02%, WIF dropped by 4.29% on Saturday and 4.24% on Sunday, slipping back below the 20-day SMA and ending the weekend at $1.50.

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Polkadot (DOT) Price Analysis Polkadot (DOT) has continued to decline as hopes of a push above $4.50 fade once more after promising signs last week. DOT was relatively positive last week and pushed above the 20-day SMA on Friday after an increase of 3.02% to $4.43. Despite strong resistance at $4.50 and the 50-day SMA also coming into play as a dynamic level of resistance, DOT managed a marginal increase of 0.23% on Saturday. However, it fell back in the red on Sunday after a failed push above the 20-day SMA, as sellers took over and pushed DOT down by 0.90% to $4.40.

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Solana (SOL) Price Analysis Solana (SOL) is struggling to stay above $130, with the 20-day SMA acting as a dynamic level of resistance and preventing a move towards $140. As a result, SOL has faced incredible volatility this week, as buyers defended the support level while sellers attempted to drive it below $130. SOL faced significant selling pressure on Friday as sellers drove the price to a day low of $131. However, it rebounded quickly as demand picked up at lower levels, eventually pushing above the 20-day SMA and settling at $139.

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Ethereum (ETH) Price Analysis Ethereum (ETH) climbed above $2,300 after an increase of just under 1.50%, registering a notable recovery along with BTC. While it may have reclaimed $2,300, ETH is bogged down by a stubborn resistance at $2,400, preventing any move past this level. A downward-sloping 20-day SMA is also indicative of the bearish sentiment around ETH. Despite the bearish pressure, ETH’s support of $2,300 has remained stable despite being tested on numerous occasions in September. Looking at the price chart, we see ETH pushed above $2,400 on Friday, rising to $2,442 after an increase of 3.34%.

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BREAKING NEWS Japan Reconsidering Crypto Rules Japan is reportedly considering loosening its crypto rules as a growing number of firms explore blockchain technology. While Prime Minister Fumio Kishida has prioritized Web3, it remains to be seen if his successor would favor regulatory adjustments to crypto. Under Prime Minister Kishida’s leadership, Japanese regulators made it easier to list tokens. The country also drafted stablecoin rules and developed a framework for crypto exchanges to protect investors. Japanese firms exploring blockchain initiatives include Sony, Nippon Telegraph and Telephone, Mitsubishi UFJ Financial Group, and Toyota Motor. This week, Sony Block Solution Labs and Circle announced a collaboration to drive innovation and creativity through decentralized technologies on the Soneium blockchain ecosystem. “By integrating Circle’s financial infrastructure with Soneium, we are set to redefine the landscape of digital entertainment and finance.”

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