Toncoin (TON) registered an incredible increase of almost 14% over the past seven days, despite its upward push stalling over the weekend after encountering strong resistance around $6. TON was extremely bullish last week as it surged on Monday, reaching a day high of $5.69. However, buyers could not sustain momentum, and TON eventually settled at $5.25, registering an increase of 6.12%. TON surged past the 20-day SMA on Tuesday, rising by 5.65% and settling at $5.55. However, after encountering resistance, the price fell back on Wednesday, dropping to a low of $5.15 before recovering and settling at $5.39, back above the moving average.
TON attempted a move past the resistance at $5.60 on Thursday but eventually settled at $5.58 after an increase of 3.43%. It finally broke past this level on Friday, rising by 4.25% and settling at $5.81. Buyers attempted a move to $6 but lost momentum after reaching a high of $5.93, with the 50-day SMA coming into play as resistance. TON fell back over the weekend as demand dried up, dropping 2.38% on Saturday and 2.24% on Sunday to slip back below $5.60 and settle at $5.55. The current session sees TON up by 0.80% after sellers failed to lower the price. Buyers will look to reclaim $5.60. If TON can consolidate above this level, a push above the 50-day SMA to $6 could be possible.
However, if sellers retake control, TON could slip to $5.30, where the 20-day SMA could act as support. Should TON continue to drop, its next support level lies at $5. $TON #DYOR #BinanceLaunchpoolHMSTR
Analysis: ETH looks poised for a breakout as it nears two descending trendlines. If the price breaks above these lines, that could signal strength. Additionally, keep an eye on the internal trendline that acts as short-term resistance. A breach here could further bolster the bullish case.
Price Targets: A successful breakout could push ETH towards the $2,700 to $2,950 range. Initially, look for it to overcome the internal resistance around $2,400. Bullish momentum might then drive it to $2,700 and eventually $2,950. $ETH #BinanceLaunchpoolHMSTR #DYOR
there was a pump to $60,000 and rejection. Now it is about to retest the $57,000 - $58,000 support level.
The week promises to be highly volatile due to many events including FOMC and others. Opening LONG at the retest is still a good setup, but a bit risky. $BTC #BinanceLaunchpoolHMSTR #DYOR
đ Binance to List Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE) with Seed Tag Applied !
Binance will list Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (100000BABYDOGE), with spot trading for these pairs starting on September 16, 2024, at 10:00 UTC.
â¶ïž Check More Details Here: https://www.binance.com/en/support/announcement/4336ae4908154736acff8302509f7a05
Analysis: WLDUSDT is teasing a possible false breakdown, hunting for those limit orders. If the price retests and holds, it could be setting up a juicy long opportunity. Time will be the judge here, so keep a close watch on those levels.
Price Targets: If the uptrend kicks in, look at targets around $1.547 and $1.620. On the downside, keep an eye on $1.416 and $1.383 as potential support levels.
Analysis: NOTCOIN is currently shaping a potential falling wedge pattern on the Daily timeframe, hinting at an upward breakout. This bullish setup could trigger an optimistic wave, driving the price higher.
Price Targets: If it breaks out, watch for the price to reach the 0.618 Fibonacci level at around $0.0013 as a significant target. Stay tuned for more updates, traders! $NOT #BinanceLaunchpoolHMSTR #DYOR
Pros and cons of investing in cryptocurrencyâĄïž
Pros âĄïž
đąAccessible:Â Crypto is borderless, and anyone with an internet connection can use it.Â
đąDecentralized:Â Most cryptocurrency systems donât rely on a central authority, making crypto resistant to censorship and centralized control.
đąInflation-resistant: Cryptocurrencies arenât directly influenced by central banksâ monetary policies, so their prices are less malleable to inflation. However, cryptocurrencies are not all the same, so itâs important to consider the issuance rate and supply of each crypto asset.
đąFlexible: Compared to stocks, there are more ways for investors to grow their crypto holdings besides trading. Crypto investors can get profit from yield farming, staking, and providing liquidity. Products such as Binance Earn are a great example of how you can increase your crypto holdings. Varied: The value of many tokens is not just monetary.
âĄïžCons
đąPrice volatility:Â The crypto market is famously prone to dramatic price swings. The potential for quick gains can be very attractive to new investors. However, they should be aware that its flipside is the potential for equally dramatic losses.
đąImperfect regulation: Cryptocurrencies are legal in many countries, but they're not fully and universally regulated. Investors should be mindful of potential compliance issues and do legal research according to their location.  đąCustody risks: Cryptocurrencies like Bitcoin require a private key to access the tokens stored in a digital crypto wallet. Forgetting a seed phrase or losing a physical crypto wallet could result in losing access to your crypto forever.
đąReturns not guaranteed: Like any financial market, there are no guaranteed returns with crypto. While Bitcoin and other altcoins performed well in the long term, there is no guarantee that they will continue going up in the future, and there is always a chance they may not do well during a shorter investment period.  $BTC
XRP price started another decline from the $0.5980 zone. It is gaining bearish momentum and might drop below the $0.5500 support zone.
XRP price failed to clear the $0.60 resistance zone and trimmed gains.
The price is now trading below $0.5720 and the 100-hourly Simple Moving Average.
There was a break below a key bullish trend line with support at $0.5850 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP Price Trims Gains
XRP price extended gains above the $0.550 level like Bitcoin and Ethereum. However, the bulls failed to clear the $0.600 resistance zone. The price formed a high at $0.5989 and the price is now correcting gains.
The price is now trading below $0.5680 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5720 level and the 100-hourly Simple Moving Average.
The first major resistance is near the $0.580 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.5980 resistance. The next major resistance is near the $0.600 level. Any more gains might send the price toward the $0.6120 resistance or even $0.620 in the near term.
More Downsides?
If XRP fails to clear the $0.5720 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5550 level. The next major support is $0.5420 or the 76.4% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5989 high.
If there is a downside break and a close below the $0.5420 level, the price might continue to decline toward the $0.530 support in the near term. The next major support sits at $0.5250.
Technical Indicators
Hourly MACD - The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now below the 50 level.
Major Support Levels - $0.5550 and $0.5420.
Major Resistance Levels - $0.5720 and $0.5850. $XRP #DYOR
âą Stablecoin issuers Paxos, Tether, Techteryx, and Circle blacklist Lazarus Group-associated wallets, according to ZachXBT. This led to $1.65 million worth of crypto assets being frozen over the weekend.
Russia is planning to build 15 new crypto-mining data centers. Komi's regional governor, Vladimir Uyba, revealed that the initial two centers will be established in Mikun and Sindor.
The Crypto Market Is in The Red
The total cryptocurrency market cap has dropped below $2 trillion, standing at $1.98 trillion after losing $72 billion in the past 24 hours. This significant downturn stems from market uncertainty over the anticipated interest rate cuts in the US.
With the Federal Open Market Committee (FOMC) meeting scheduled this week, there is a 59% chance of a 50 basis point (bps) cut and a 41% probability of a 25 bps reduction.
Due to this lack of clarity ahead of the FOMC meeting, the crypto market continues to experience turbulence. With less than 72 hours remaining until the meeting, the possibility of the market cap dropping further to the $1.92 trillion support level is high.
However, if favorable conditions emerge in the next two days, there is a possibility for the total crypto market cap to recover. Reclaiming the $2 trillion support level could spark a recovery, helping the broader market regain confidence.
Bitcoin's Price Cannot Sustain Above $60,000
Bitcoin has once again struggled to hold the $60,000 support level, marking the second failure in three weeks. Currently, BTC is trading at $58,261, reflecting a 3% decline over the last 24 hours.
This price dip has raised concerns about the cryptocurrency's near-term performance. With volatility continuing to impact the market, Bitcoin's ability to regain momentum remains uncertain.
BTC is now approaching a critical support floor at $57,270, which has previously served as a base for consolidation. Alongside this, $61,725 represents the upper limit of said consolidation. $BTC #DYOR
Dogecoin (DOGE) Trims Gains, Can This Key Support Hold Losses?
DOGEUSD
DOGE price is gaining bearish momentum below $0.1035.
âą The price is trading below the $0.1020 level and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $0.1050 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could extend losses and revisit the key support at $0.0980.
There was a move below the $0.1035 support zone. The price dipped below the 50% Fib retracement level of the upward move from the $0.0978 swing low to the $0.1084 high. There is also a key bearish trend line forming with resistance at $0.1050 on the hourly chart of the DOGE/USD pair.
Dogecoin price is now trading below the $0.1035 level and the 100-hourly simple moving average. It is also testing the 76.4% Fib retracement level of the upward move from the $0.0978 swing low to the $0.1084 high.
Immediate resistance on the upside is near the $0.1032 level. The next major resistance is near the $0.1045 level. A close above the $0.1045 resistance might send the price toward the $0.1050 resistance. Any more gains might send the price toward the $0.1085 level. The next major stop for the bulls might be $0.1120.
More Downsides In DOGE?
If DOGE's price fails to climb above the $0.1035 level, it could start another decline. Initial support on the downside is near the $0.1000 level. The next major support is near the $0.0980 level.
The main support sits at $0.0918. If there is a downside break below the $0.0918 support, the price could decline further. In the stated case, the price might decline toward the $0.0880 level or even $0.0850 in the near term.
Technical Indicators
Hourly MACD - The MACD for DOGE/ USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) - The RSI for DOGE/USD is now below the 50 level.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset's dynamics. Here are three major unlocks to watch next week.
ARBUSD
âą Unlock date: September 16
âą Number of tokens unlocked: 92.65 million ARB
Current circulating supply: 3.49 billion ARB
ApeCoin APEUSD
âą Unlock date: September 17
âą Number of tokens unlocked: 15.60 million APE
âą Current circulating supply: 674.64 million APE
đžÂ Grayscale has officially announced the creation and public launch of Grayscale $XRP TrustÂ
đžÂ Flowcarbon is returning investor funds because Goddess Nature Token was not issued  đžÂ You can now check your Catizen CATI airdrop đș
đž PancakeSwap has introduced a new Telegram bot that allows users to make price predictions for BNB price  đžÂ The HMSTR token will have a total supply of 100 billion tokens, the project will be launched on Binance LaunchpadÂ
đžÂ Nubank announced today that they will end operations with their crypto token, Nucoin
đŠ Crypto exchanges
đžÂ Indonesian crypto exchange Indodax was suspected to have been exploited for $18.2 million  đžÂ Coinbase launched their version of Wrapped BTC on Base blockchain đ  đžÂ Kraken has responded to the SEC's claim that it violated federal securities laws, arguing digital assets arenât securities
đžÂ Revolute added support for the TON coin, currently available for UK and EU users
đ” Finances and Economy
đžÂ Interest on U.S. debt tops $1 trillion for the first time
đžÂ The European Central Bank has cut interest rate by 0.25% to 3.5% đȘđș
đžÂ US inflation falls to 2.5%, lower than expectations (2.6%)  đžÂ A subsidiary of the Tokyo Electric Power Company is reportedly venturing into Bitcoin mining
âïž Law and Order
đžÂ Singapore's Parliament passed an amendment to the Casino Control Act, which includes a ban on the use of crypto in casinos
đžÂ Crypto was involved in 87% of all investment fraud in 2023, per the FBI
đžÂ Securities regulators in 12 US states have secured reimbursement for investors who lost money in a GSB Group investment scheme
 đŁ Personalities
đžÂ  Elon Musk may soon be called to testify before the United Kingdom Parliament
đžÂ Donald Trump announced he is launching the World Liberty Financial crypto platform on Sept. 16 đ
đžÂ FTX co-founder and former CEO Sam Bankman-Fried appealed his fraud conviction
SOL is showing potential for a breakout after a prolonged downtrend, currently testing key support. A bounce from this area could lead to a test of the upper resistance levels. See more...
Wrapped tokens are a crucial innovation in crypto, enabling seamless transactions across different blockchain networks. Letâs take a deeper dive into how they work and why theyâre so transformative.
Wrapped tokens allow assets from one blockchain to be traded on another. For example, to use Bitcoin (BTC) on Ethereumâs Uniswap DEX, BTC is converted into Wrapped Bitcoin (wBTC). This process locks the BTC on its native network while minting an equivalent amount of wBTC on Ethereum, ensuring the value remains secure through a cross-chain bridge.
Wrapped tokens open up liquidity and access to various platforms, especially within the DeFi ecosystem. BTC holders can now participate in Ethereum-based DeFi by converting to wBTC, all while retaining the value of their original Bitcoin. However, there are risksâsuch as vulnerabilities in smart contracts or potential issues with the bridge's securityâthat users need to consider.Popular Wrapped Tokens and Use Cases:
1. Wrapped Bitcoin (wBTC): Lets BTC holders engage in Ethereum DeFi, broadening their investment strategies. 2. Wrapped Ether (WETH): Facilitates compatibility with smart contracts on the Ethereum network. 3. Wrapped Chainlink (WLINK): Expands the usability of Chainlink (LINK) across different blockchains.
Wrapped tokens have revolutionized DeFi and trading by increasing liquidity and enabling cross-chain transactions. They allow users to trade assets from multiple networks on decentralized exchanges (DEXs), streamlining access to diverse financial opportunities.
Wrapped tokens are paving the way for greater blockchain interoperability, driving innovation across the crypto space.
Analysis: Bitcoin is approaching key levels as it hovers near $59,800. Mixed signals on 1H and 4H charts suggest consolidation, but a potential momentum shift looms in September. The RSI remains neutral but with room to move higher, indicating things could go either way.
Price Targets: Watch for a breakout above $61,348 to hit $62,000. Failure to hold support might drop BTC to $57,463. In the event of a pullback, consider entering long positions near $57,463 if support holds. $BTC #BinanceLaunchpoolHMSTR #DYOR
The price is currently consolidating within a channel. We've seen a Break of Structure (BOS) and a liquidity sweep, followed by a potential pullback to Points of Interest (POIs). If the price reclaims the swing high, a bullish scenario could play out, otherwise, a bearish move towards lower POIs is likely.